Baltimore Life

[Winter_123]

Does anyone have any thoughts on the good, bad, and the ugly in regard to this carrier for final expense.

I took a few minutes a few weeks ago to do the appointment paperwork with them and my appoinment just came through but I really didnt study the carrier/product a lot beforehand.

I have clients, as we all do, whose health is a total disaster and was looking for something that could be a fit or at least an offering to the client in those situations. Also I think Baltimore Life goes down to age 40. I don't see, yet anyway, that they ask about height/weight. Is that right?

I dont do a lot of final expense but usually just use Mutual of Omaha or Continental General or a fully underwritten product so I am just looking to fill in a little niche with Baltimore Life. On the other if it is crapola, I just wont bother with it. What sayeth thee?

 

[insuranceexec]

Baltimore Life is a good company, but they are changing.

What originally caught my eye is that of their instant turn-around time on issue.

They had telephone apps; that they would issue instantly over the phone, and then the agent would be paid within 48 hours.

They also have decent rates; but have seen where other companies are cheaper on most cases.

Baltimore has since said that they were taking the telephone apps off the books; and have not considered them since. I do not write FE in my personal practice, but offered Baltimore Life last year as a part of my product offerings.

Hopefully you got better than a 115% contract. I hope this helps.

 

[Newby]

Does anyone have any thoughts on the good, bad, and the ugly in regard to this carrier for final expense.

I took a few minutes a few weeks ago to do the appointment paperwork with them and my appoinment just came through but I really didnt study the carrier/product a lot beforehand.

I have clients, as we all do, whose health is a total disaster and was looking for something that could be a fit or at least an offering to the client in those situations. Also I think Baltimore Life goes down to age 40. I don't see, yet anyway, that they ask about height/weight. Is that right?

I dont do a lot of final expense but usually just use Mutual of Omaha or Continental General or a fully underwritten product so I am just looking to fill in a little niche with Baltimore Life. On the other if it is crapola, I just wont bother with it. What sayeth thee?

My opinion is they are not a real strong player in FE.

I would pick up Monumental, Settlers or Royal Neighbors. Any of these is a pretty good all around company for someone who just sells an occasional FE policy.

 

[Winter_123]

My opinion is they are not a real strong player in FE.

I would pick up Monumental, Settlers or Royal Neighbors. Any of these is a pretty good all around company for someone who just sells an occasional FE policy.

You are saying that they all have a plan that will take anyone who is breathing (without oxygen anyway) because that is the purpose here? Baltimore has this Silverguard III or whatever and apparently no BMI limitations from what I see from a brief look anyway. Those other companies have that type of plan? Just graded issue is not enough because some carriers have BMI limitations and other health questions on the graded issue as well. I am only trying to fill in the niche for the hard core cases. Not looking for a carrier for the regular non-impaired client. Have a couple carriers there that are okay. What sayeth thee?

 

[Newby]

You are saying that they all have a plan that will take anyone who is breathing (without oxygen anyway) because that is the purpose here? Baltimore has this Silverguard III or whatever and apparently no BMI limitations from what I see from a brief look anyway. Those other companies have that type of plan? Just graded issue is not enough because some carriers have BMI limitations and other health questions on the graded issue as well. I am only trying to fill in the niche for the hard core cases. Not looking for a carrier for the regular non-impaired client. Have a couple carriers there that are okay. What sayeth thee?

All three of them have competitive rates for the healthiest level of applicants and and 2nd tier as well as a 3rd tier of very liberal graded issue.

With Settlers, you will need to place most of your business through them in order to have access to their 3rd tier (which they call Bronze.)

Monumental and Royal Neighbors do not ask height-weight at all. Settlers will on the Gold level but not on the Silver or Bronze.

They are just 3-companies that come to mind that if I was just going to write the occasional FE policy and just want ONE company to go to, any of these would be an acceptable choice. BUT, as I said, with Settlers you must write at least 80% of your business on the Gold and Silver plans in order to write any Bronze (Graded) plans.

 

[myinsurebiz]

BL does not issue insulin diabetics.

They have affordable rates, quick turnaround and if you are with the right IMO - the ability to sell 100% telesales.

UHL is a better fit in some cases.

Loyal American is as well.

Recently - I discovered fidelity life has a decent graded term and WL product. Just can't do it telesales yet . . .

Good luck,

Tom

 

[360]

Recently - I discovered fidelity life has a decent graded term and WL product. Just can't do it telesales yet . . .

No but you can do an e-app. Probably not a good fit for true FE biz, but for other folks that end up graded it sure beats a face to face requirement.

 

[myinsurebiz]

Brad,

I was told that the e-app for graded wouldn't be approved until mid summer? So - you can do an e-app on graded now?

Thanks,

Tom