Chicken Coop
Expert
- 58
Why don't companies make everything SIMPLE for all concerned by going to actual age instead of the age nearest formula?
Age Nearest Vs Actual Age
- Thread starter Chicken Coop
- Start date
- 24,936
We are talking insurance companies, right?
Because using nearest age, they get to rate many people up a year and make more money.
Insurance companies are in business to make money. Our job is to help them make money because it keeps our careers safe.
- 11,995
Not for nothing, but it's usually right on the app and if you use an electronic quoter it's all built in. I have a hard time getting ahold of an underwriter with certain carriers and that drives me up the wall more than just about anything else.
- 15,041
Nearest age is more "accurate". It is the age to which you are closest.
Just get birthdays when you quote and enter that and you'll never have a problem.
Just get birthdays when you quote and enter that and you'll never have a problem.
- 24,936
Try calling AIG or Genworth underwriters. They have an aneurysm. Then call and cry to your IMO.
- 958
Attached is the Carrier Age Last Birthday List. Hope this helps.
(Some age last birthday carriers also allow back dating to save age.)
(Some age last birthday carriers also allow back dating to save age.)
- 717
You're looking at this the wrong way!
Age last is a great money making opportunity for many cases when your competition has fallen asleep and blindly quoted age nearest.
I won a number of cases when I was a writing agent where it made sense to backdate and save age on cases where my competitors were just looking blindly at age nearest.
.....in many states you can backdate up to 6 months if it makes sense.....but last i knew ohio was only allowed 3 months?
Good luck$$
Age last is a great money making opportunity for many cases when your competition has fallen asleep and blindly quoted age nearest.
I won a number of cases when I was a writing agent where it made sense to backdate and save age on cases where my competitors were just looking blindly at age nearest.
.....in many states you can backdate up to 6 months if it makes sense.....but last i knew ohio was only allowed 3 months?
Good luck$$
- Thread starter
- #9
Chicken Coop
Expert
- 58
Thanks so much.
Am Natl and Lincoln Ben are interesting, but I see that they are below 90 Comdex in your ratings thread.
- 958
Here's the balance sheet & ratings definition for LBL & AN.
