Good morning all! I am curious to see if anyone has any information good or bad on Great American Senior benefits. They claim to be a major player in the Senior Market.
Depends on which state you are in. In IN they cannot go a year without a double digit increase on their med supps. Texas is the only state where they are producing alot.
They have tons of products and companies. UTA,CRL,CGI,PAHLIC,Great American, Loyal American, and a couple others.
Depends on which state you are in. In IN they cannot go a year without a double digit increase on their med supps. Texas is the only state where they are producing alot.
They have tons of products and companies. UTA,CRL,CGI,PAHLIC,Great American, Loyal American, and a couple others.
SAI, I thought John P. made it clear that there ain't no such word as alot! It is "a lot."
Really depends on the product. They recently re-released Loyal American's Med Supp which is decently competitive, but I believe still has a lower than standard commission. I don't know what states it's available in, butI'm sure it's quite a few. Other than that they have CGI, CRL, UTA & Provident American. Provident will be competitive in some states, but still not going to be the best. Given their history of rate increases from UTA and from the Ceres Companies that they purchased, I wouldn't put alot of stock in their Med Supps. UTA's Final Expense is pretty darn competitive, and the underwriting is good in my opinion. The only problem I've seen in the past is their ability to administrate it well. I've seen FE policies take 2 weeks or more to get issued with them. No good when others are doing it in 72 hours.
Great American's LTC is good, but I believe they are still marketing it through AIMS, unless something has changed there. The only other LTC they offer would be through Loyal American which isn't horrible, but there are better.
Superchief, do you know anything about UTA's LTC policy...does it provide good coverage and are the rates competitive? They are marketing it through a marketing company called AMBA (Association Member Benefits Association) through affinity programs primarily to retired school employees under retired teacher association endorsements in many states, but they have other association endorsements as well in some states including fire fighters, police officers and in New Mexico they recently secured endorsement from the association for all retired state employees. Are you familiar at all with their LTC policy? Thanks.
I am not familiar with its competitiveness. AMBA is a captive agent group. When I worked at UTA / Great American as a marketer, we were never provided any info on AMBA's products but told very strictly to stay away from their agents. As I remember Jerry Morgan ex-president of UTA runs AMBA.
AMBA is a marketing company. I wasn't aware that a "marketing company" could hire licensed agents and not be some type of "agency" or "brokerage" firm. I'm totally confused as to how this works. Can you shed any light on this?
And yes, Jerry Morgan is the President of AMBA now. What can you tell me about him? Just wondering how he is viewed in the industry. I'm curious as to why you were told to stay away from AMBA's agents. Did they mean in the sense of trying to get them to leave AMBA and come to work for GASB? Or was it for some other reason?
One other question, I did learn that AMBA requires their agents to sign a 3 yr no-compete agreement preventing them from selling LTCi for 3 years after they leave the company. Is such a thing standard in the industry? I've never heard of an insurance company requiring an agent to sign a no-compete agreement. I'm conducting a lot of research about AMBA because they seem to be growing rapidly and appear to have more business than they know what to do with. It could be a very good opportunity if everything checks out. Thanks.
Perhaps, I am a little confused currently are Great American Senior Benefits and AMBA a partnership or not? I am thinking they are not a team but maybe I am just confused lol.
Perhaps, I am a little confused currently are Great American Senior Benefits and AMBA a partnership or not? I am thinking they are not a team but maybe I am just confused lol.
No, Great American Senior Benefits and AMBA are NOT in partnership.
Really depends on the product. They recently re-released Loyal American's Med Supp which is decently competitive, but I believe still has a lower than standard commission. I don't know what states it's available in, butI'm sure it's quite a few. Other than that they have CGI, CRL, UTA & Provident American. Provident will be competitive in some states, but still not going to be the best. Given their history of rate increases from UTA and from the Ceres Companies that they purchased, I wouldn't put alot of stock in their Med Supps. UTA's Final Expense is pretty darn competitive, and the underwriting is good in my opinion. The only problem I've seen in the past is their ability to administrate it well. I've seen FE policies take 2 weeks or more to get issued with them. No good when others are doing it in 72 hours.
Great American's LTC is good, but I believe they are still marketing it through AIMS, unless something has changed there. The only other LTC they offer would be through Loyal American which isn't horrible, but there are better.
They also just re-released Great American's Med Supp.
Great American Senior Benefits
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