Please Advise Me On Companies, Rates, Etc.

pinzon · 11-03-2009, 10:52 AM

Originally Posted by souldeux

Well, hang on, was the policy actually ever issued? If he didn't actually put in an app but was just quoted that rate off of an informal prescreen, no official underwriting decision was ever made.

West Coast Life's app asks: Has proposed insured had a request for life or health insurance declined, postponed, rated, canceled, or restricted in any way? I read that to be effective only after an official UW decision. And it sounds like he went from SP to standard, not a table rating, which isn't a huge deal on an app.

They did do the underwriting.
Just sent you an email golden.
On term4sale you have MassMutual as A++. They've been downgraded. Won't let me post the link but search "massmutual gets stripped."

CHUMPS FROM OXFORD · 11-03-2009, 10:56 AM

I could be wrong but you may be referring to the S&P rating. I assume the A++ rating was an A.M. Best rating.

dgoldenz · 11-03-2009, 11:12 AM

Originally Posted by pinzon

They did do the underwriting.
Just sent you an email golden.
On term4sale you have MassMutual as A++. They've been downgraded. Won't let me post the link but search "massmutual gets stripped."

Mass Mutual is still an A++ with AM Best as far as I know. They are one of the strongest companies financially, but their products are very expensive and they may be more conservative on their underwriting. We received your e-mail and are sending you one in return right now. Thanks.

souldeux · 11-03-2009, 11:31 AM

Originally Posted by pinzon

They did do the underwriting.
Just sent you an email golden.
On term4sale you have MassMutual as A++. They've been downgraded. Won't let me post the link but search "massmutual gets stripped."

D'oh, never mind.

Chumps and dgoldenz are right - Mass Mutual is still A++ with A.M. Best. Just checked my member center.

Robert Barney · 11-03-2009, 03:42 PM

Originally Posted by dgoldenz

Running his own quotes won't do him any good. USAA went from preferred plus to standard (most likely). Other carriers may do the same. The key is to find which carrier(s) may offer a better risk classification. Without checking with underwriters, he'd just be throwing mud on the wall and hoping one of the apps sticks. Never a good idea if you ask me.

I agree that quotes alone are not sufficient, and that an agent should be contacted.

Do you agree that a consumer should seek out the opinions of more than one agent?

Are you aware that www.term4sale.com offers a preferred health analyzer which helps consumers identify if they can qualify for the lowest premiums in comparisons?

dgoldenz · 11-03-2009, 03:51 PM

Originally Posted by Robert Barney

I agree that quotes alone are not sufficient, and that an agent should be contacted.

Do you agree that a consumer should seek out the opinions of more than one agent?

Are you aware that www.term4sale.com offers a preferred health analyzer which helps consumers identify if they can qualify for the lowest premiums in comparisons?

Yes, I'm aware that the health analyzer is available, but most consumers who run quotes just see the preferred plus rates and assume they can get them, or don't know how to run the analyzer or the right information to input. If I had a nickel for every time someone told me "....but this person from (insert call center here) said I can get it for (insert lowball super preferred rates here)!" when the person obviously will not qualify for those rates, I wouldn't need to sell insurance.

I see nothing wrong with contacting more than one agent if the consumer wants to take the time to do it. Most people hate insurance and want to get it over with as soon as possible.