United American Insurance Company

[rayluk]

I am watching a webinar for CA regarding med sup done by Mike Surrano (I am exploring this market). UAIC's webinar is an intro to what they offer at a helicopter view.

Few points that struck me as unique
- 3% guaranteed Reserved Funded Annuity with no surrender charge to fund the med sup plan.
- life time level renewal com
- leads program

They got some final expense, cancer, critical illness and accidental plan.

Anyone has an opinion of this company? Thanks!

 

[GreenSky]

Yeah. I can give you some insight.

The annuity is bullsh*t. Forgetting the fact that it pays zero commission, if a HDF makes sense, it make senses without a gimmick like this. I've written a few of their HDF and one F to a 28 yr old who just got medicare.

The underwriting is pretty easy and the e-app is slick. However they have a weird quirk that even OE is not effective until approved.

For example...T65 eligible 9/1. App is signed 8/28 and received via fax on 8/29. You expect an effective of 9/1 but underwriting doesn't rubber stamp until 9/5. That's the effective date.

So you need to contact them to cancel and reissue. They gave me the doubletalk that their software couldn't handle a "back date" without the cancellation. What garbage!

If you need a HDF carrier with easy underwriting they're good to have.

The cancer plan is pretty good but our commies in the legislature won't let us sell indemnity plans to anyone over 64 so you can't exactly cross-sell to med sup clients.

If you want advice on supps in CA shoot me your contact info via my email (below).

Rick

 

[rayluk]

I e-mailed to you Rick. Thanks!

Chris from UAIC just called and kept repeating about the life time renewal.
I asked him about the product competitiveness and he said it would be about $15 higher than other plan F out there; reason being their customer service.

What do you think?

I am a firm believer in you get what you pay for. So price differential is not a big obstacle when I bring it out to client; though my clients and I have to be able to see the value. What is your feedback?

Thanks again.

 

[Iwillpay]

I e-mailed to you Rick. Thanks!

Chris from UAIC just called and kept repeating about the life time renewal.
I asked him about the product competitiveness and he said it would be about $15 higher than other plan F out there; reason being their customer service.

What do you think?

I am a firm believer in you get what you pay for. So price differential is not a big obstacle when I bring it out to client; though my clients and I have to be able to see the value. What is your feedback?

Thanks again.

The reserve annuity is a good way for the customer to make provision for their annual part B deductible ($2140 in 2014) by saving the difference between Plan F or G and the HDF premium. They can put 2 years deductible at once or anyway they want, there is no set amount away from the minimum $50.00 or maximum $70,000.

Their plan F premiums are higher than other plans, but their annual rate increase is at the lower end, their rates are more stable.
Surprised he mention rates as a function of customer service, I think he spoilt it by giving you some "kool aid".

The lead program is also good.

The life time comp is true, but if you sell HDF plan thats what you will paid on for life,(the original premium) even if you move them up to F. Lifetime comp. is not a big deal now as you can move clients are around after couple years as the market is dynamic.

I think the best they have going is the lead program and the iGo app.

A good company to carry in your bag.

 

[GreenSky]

See the post above. Most of it is Kool-Aid.

Rick

 

[rousemark]

I e-mailed to you Rick. Thanks!

Chris from UAIC just called and kept repeating about the life time renewal.
I asked him about the product competitiveness and he said it would be about $15 higher than other plan F out there; reason being their customer service.

What do you think?

I am a firm believer in you get what you pay for. So price differential is not a big obstacle when I bring it out to client; though my clients and I have to be able to see the value. What is your feedback?

Thanks again.

They still giving the spiel about customer service to justify higher premiums? They were trying to convince agents of that back when I was a GA with them.. Their customer service was no better than average when compared with other med sup companies.

 

[scagnt83]

Who in their right mind would sell an annuity with no comp??? Especially when you can get 3% guaranteed PLUS get paid with a different company.... (just set up systematic withdrawals going to UAIC)

Same thing... except you actually get paid for working!

 

[CALTCAgent]

I am watching a webinar for CA regarding med sup done by Mike Surrano (I am exploring this market). UAIC's webinar is an intro to what they offer at a helicopter view.

Is there a link to this webinar somewhere ?

Can an agent contract direct with this company ?

 

[CHUMPS FROM OXFORD]

Another spammy post from long.........

 

[kgmom219]

Another spammy post from long.........

Its starting to creep me out....