Need Carrier Thats Just Like Monumental

[mrsmith]

What other carriers are like Monumental?

As in: No phone interview, simplified, can cover anyone from age 0 to 85 and places policies within 48 hours?

I am already contracted with Monumental through a major IMO but I am leaving said IMO, so I can't use them for awhile, or I could and only get 50%...

 

[Todd King]

It's hard to beat some of the features that Monumental has as a package.

You can find the ones that don't do a phone interview, but most are more expensive.

Hard to find the ones that do 0 to 85, unless they have a regular underwritten whole life (like RNA).

Hard to find one that doesn't care if your client is 3' 8" and weighs 400lbs.

 

[Hopwood04]

I offer Monumental and last time I checked, they do phone interviews. However, you should look into Settlers Life. Settlers Life issues there policies in a funeral trust where medicaid can not recapture the death benefit. If a person goes to the nursing home and dies and has a monumental policy, Medicaid will take the death benefit upon death leaving the client's family with nothing.

 

[jdeasy]

What other carriers are like Monumental?

As in: No phone interview, simplified, can cover anyone from age 0 to 85 and places policies within 48 hours?

I am already contracted with Monumental through a major IMO but I am leaving said IMO, so I can't use them for awhile, or I could and only get 50%...

Americo doesn't do a phone interview and their rates are better then Monumantals by a pretty good margin. They don't take the under 50 people. They also have a build chart. Pretty liberal, but they have one.

It's getting harder and harder to find decent companies that don't do a POS interview.

 

[senior-advisor-indiana]

I don't write much FE but I don't understand why a POS interview bothers you guys. Maybe I am just use to it from doing med supps.

 

[The Gimp]

I offer Monumental and last time I checked, they do phone interviews. However, you should look into Settlers Life. Settlers Life issues there policies in a funeral trust where medicaid can not recapture the death benefit. If a person goes to the nursing home and dies and has a monumental policy, Medicaid will take the death benefit upon death leaving the client's family with nothing.

Guess it's been awhile. Monumental hasn't done point-of-sale interviews for a year or so to my knowledge..

 

[Todd King]

I offer Monumental and last time I checked, they do phone interviews. However, you should look into Settlers Life. Settlers Life issues there policies in a funeral trust where medicaid can not recapture the death benefit. If a person goes to the nursing home and dies and has a monumental policy, Medicaid will take the death benefit upon death leaving the client's family with nothing.

Let's clarify that last part for some of the newbies who might read this post.

Only if they are on Medicaid will this happen. All people that go into a nursing home are not on Medicaid. They may still be in the spend down or they may have their own nest egg or even LTCi to cover expenses.

I would also like to point out that each state has it's own unique Medicaid laws.

Monumental does not do a phone interview.

 

[mrsmith]

thanks for the help, sounds like I'll be looking into Americo.

The POS interview isn't the end of the world but when clients are in a rush it can be a pain. Plus, if they are pulling the MIB, then what is the point of the phone interview? To me, it's like pulling someones credit report and then asking them if they've ever had a macy's card... I probably just don't know enough about the MIB and underwriting in general but I am sure I'll get an interesting response from some of you guys.

 

[jdeasy]

I don't write much FE but I don't understand why a POS interview bothers you guys. Maybe I am just use to it from doing med supps.

For me it's mostly the time thing. I run appointments all day when in the field and my appointments are an hour and a half apart. Many times, like today, I have 15 to 20 minutes driving time between those appointments. Acouple of time consuming phone interviews will throw off your whole day. Happened to me today. I did three phone interviews. One AmAm, one RNA and one Foresters. By my fourth appointment I was an hour late and then I had to reschedule my last one of the day because I was already more than an hour late and a thiry minute drive to her house.

And these were all approved on the first phone interview. If you get one declined and then have to punt to another it really throws off your day.

If I was given a choice I would do the POS most of the time. It would be great if more companies allowed you to send it in for traditional underwriting when time constraints were a factor.

The companies could be a help by streamlining their phone interviews, but they seem to want to make them more difficult.

I write much more Americo and Monumental now because they don't do POS interviews.

I was an RNA guy. They have moved way down my list with their crappy phone interview process.

 

[senior-advisor-indiana]

I see. I guess when you pack your days that tight it would help.