I had an appointment yesterday in which I was up against Physicians Mutual Issue Age Rates on Plans F and G. Does anyone know much about the increases on Issue Age compared to most Attained Age in Indiana or similar? I was trying to find out more info for the client so he could make a good decision on which way to go. The main issue was that he has a condition currently that most likely would be declined after the enrollment period...which is the reason he is looking at issue age. I didnt have any products available with that premium structure but told him that even those rates are subject to increases, but not because of Age. How often and to what percentage are you seeing these types of rates going up?
Issue Age Rates with PM
- Thread starter raven585
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How much can you beat the rates by?
Using your current rate chart, what age would he attain on your product before he is paying the same as the physicians assuming neither product has any unschedueled rate increases?
How much will he have saved by that age?
I personally would never like initial age priced products as a consumer. You are paying more now on the hope that it will save you money later. People tend to get disappointed doing that.
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It would be at least 5 years before attained age would catch up. I explained to him that he can go that route, but really would spend much more money than necessary in the long run. Are there other companies out there that will take him with unoperated aneurism after enrollment period?
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by the way, according to my rates it would be a 5 year savings of approx. $1,250
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by the way, according to my rates it would be a 5 year savings of approx. $1,250
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