Commission for GI Business

[Frank Stastny]

I called MOO. I asked them what if I had my GI issue customer answer all health questions and she is in excellent health----will they pay me full commissions. They told me "no".

I could not tell if they were just annoyed that I would ask that question or if that was the only answer.

Do you know, Frank? Anyone?

Thanks

I'm going to make a WAG that they didn't listen to the question and may not have know or wanted to take the time to explain it to you.

If you have the prospect answer health questions you will receive the "full commission" just like you do if you write anyone else who answers the health questions.

The question on the app should only be answered yes if you intend to write it GI and not have the prospect answer the health questions.

 

[maniacagent]

There is a blank on the app for Mutual of Omaha that says... "Are you applying during a Guarantee Issue period?"

If you answer that question "YES", then you should expect reduced commissions.

In that case I have to read what Family Life has to say.....I'll tell you in a few minutes.

 

[Frank Stastny]

In that case I have to read what Family Life has to say.....I'll tell you in a few minutes.

It shouldn't matter what they "say". If you don't ask health questions then it is GI and you should receive the appropriate commission.

If you do have the prospect answer health questions it shouldn't matter when they apply. At least that is the way it is with the companies I offer contracts for. No, I don't offer contracts for Family Life.

 

[maniacagent]

I'm going to make a WAG that they didn't listen to the question and may not have know or wanted to take the time to explain it to you.

If you have the prospect answer health questions you will receive the "full commission" just like you do if you write anyone else who answers the health questions.

The question on the app should only be answered yes if you intend to write it GI and not have the prospect answer the health questions.

Even if there is a question on the app that says "are you enrolling during a guaranteed issue period?"

 

[Frank Stastny]

Even if there is a question on the app that says "are you enrolling during a guaranteed issue period?"

The question is really asking if you are enrolling them as GI. Your are reading more into the question then there really is. You are "over thinking it".

Only answer yes to that question if you are actually enrolling them and not asking them any health questions. If you answer "No" to that question, it is the appropriate answer if you intend to ask them health questions regardless of when it it.

 

[maniacagent]

The question is really asking if you are enrolling them as GI. Your are reading more into the question then there really is. You are "over thinking it".

Only answer yes to that question if you are actually enrolling them and not asking them any health questions. If you answer "No" to that question, it is the appropriate answer if you intend to ask them health questions regardless of when it it.

It is not considered misleading the underwriter?

 

[Frank Stastny]

It is not considered misleading the underwriter?

No, not in the least. You are "underwriting" the policy by asking health questions. That is all insurance companies care about, that they are not getting the chronically ill who are going to have tons of claims.

If they "pass underwriting" they could care less when you write the app.

You are still "over thinking" it. hahahahaha

 

[maniacagent]

OK----sounds reasonable to me.

 

[taterpeeler]

wow... this med supp stuff is so different than the indy health that i have sold for pert near 20 years... in that line the question are u enrol in Gi period would be answered YES... and if you put no you will be commiting FRAUD... glad to know the senior side is so different...

 

[Frank Stastny]

wow... this med supp stuff is so different than the indy health that i have sold for pert near 20 years... in that line the question are u enrol in Gi period would be answered YES... and if you put no you will be commiting FRAUD... glad to know the senior side is so different...

I think you also are reading too much into that question and way over thinking it.

If the agent is not writing the app as GI and is asking health questions then it is not a GI app regardless of when the app is written.

I will say that again for the hard of hearing: If the agent is not writing the app as GI and is asking health questions then it is not a GI app regardless of when the app is written.

There is no FRAUD associated with fully underwriting the application at anytime.