Question About GI and Graded Policies

[scottstreet]

looking at the AIG GI producer guide I see that the insured and the owner need to be the same. Is this common across the FE spectrum?
Trying to find a GI for sister in law's dad SIL would be owner. Any ideas? Thanks, Jim

 

[indiana260]

looking at the AIG GI producer guide I see that the insured and the owner need to be the same. Is this common across the FE spectrum?
Trying to find a GI for sister in law's dad SIL would be owner. Any ideas? Thanks, Jim

Why did he need GI?
Gerber will allow as long as he can sign the app. They won't accept POA anymore. NGL still accepts POA sig

 

[scottstreet]

Why did he need GI?

Opiate addicted alcoholic- recent hospitalization for same

 

[Mattschmidt]

looking at the AIG GI producer guide I see that the insured and the owner need to be the same. Is this common across the FE spectrum?
Trying to find a GI for sister in law's dad SIL would be owner. Any ideas? Thanks, Jim

AIG is the only GI company that I'm familiar with, who requires Owner/Insured to be the same person.

Not sure why this is, but for the past 6 months of us selling us, there's been no way around it.

 

[Agentguy5]

looking at the AIG GI producer guide I see that the insured and the owner need to be the same. Is this common across the FE spectrum?
Trying to find a GI for sister in law's dad SIL would be owner. Any ideas? Thanks, Jim

Why anyone would sell a GI product that charges back 100% of the commission if the client cancels or stops paying in the first 6 months, is beyond comprehension and any common sense.

Greed is not a good reason to pick a GI carrier!

 

[bboman23]

Why anyone would sell a GI product that charges back 100% of the commission if the client cancels or stops paying in the first 6 months, is beyond comprehension and any common sense.

Greed is not a good reason to pick a GI carrier!

25% if the client lapses in the first 6 months. Not 100%.

 

[Agentguy5]

25% if the client lapses in the first 6 months. Not 100%.

Yeah but with all the rumors flying around, I just wanted to add to the pile...

 

[HoosierLife]

I understood it to be 100% for lapses like Vantis was back in the day. Then everyone says they changed. Well, Ben and Todd.

 

[DigitalBGA.com]

AIG really listened to the feedback on this from distributors and agents. They changed it quickly after we all raised questions.

 

[Todd King]

I understood it to be 100% for lapses like Vantis was back in the day. Then everyone says they changed. Well, Ben and Todd.

It was effective Dec. 2, 2016. Here's the bulletin... View attachment 16-177 GIWL Chargebacks LCBulletin FINAL.PDF