Fed Up with Equitable

[billyg]

Just a heads up about problems our clients have experienced with Equitable Med Supp...

I have a number of clients on Equitable Med Supp. Most are <65 (disability). Equitable anounce several months ago a huge rate increase (not a surprise for <65). As we have been transitioning clients still in OE over to other carriers, Equitable has been nothing but trouble in processing refunds. Initially, they claim the policy holder has to call. Then when the policy holder calls, they tell them the agent has to call. Then when the agent calls, they say the request has to be in writing from the policy holder. Then they still ignore it. Then they say the request has to be received at least 30 days prior to cancelation (I suspect that is a violation of state regs). This company absolutely makes it impossible for policy holders to get refunded excess premiums. We have over 600 Med Supp customers and have never had problems like this with any other company. Agents beware.

 

[jacobtn]

Odd for me they have been extremely easy to use

 

[Newby]

Odd for me they have been extremely easy to use

Me too except one really bad thing lately. Had a husband on their med sup. told them when the wife ages in they will both get a discount.

When she aged in, they said no. They both have to apply at the same time. If the husband is not healthy enough to re-apply and be underwritten, it blocks them both from the household discount.

Has anyone else run into this with Equitable? Very odd way to do a household discount.

 

[rousemark]

Me too except one really bad thing lately. Had a husband on their med sup. told them when the wife ages in they will both get a discount.

When she aged in, they said no. They both have to apply at the same time. If the husband is not healthy enough to re-apply and be underwritten, it blocks them both from the household discount.

Has anyone else run into this with Equitable? Very odd way to do a household discount.

Yeah.. when I changed my wife's to Equitable, I had to reapply on my existing coverage in order to get the discount.. No real problem but a bit of aggravation and if my cancer treatment had been more recent, we would not have gotten it because I would have been able to medically qualify. They did say it would not restart the contestable period.

 

[Newby]

Yeah.. when I changed my wife's to Equitable, I had to reapply on my existing coverage in order to get the discount.. No real problem but a bit of aggravation and if my cancer treatment had been more recent, we would not have gotten it because I would have been able to medically qualify. They did say it would not restart the contestable period.

That's really unacceptable. Since the first spouse is usually aging in with no health underwriting.

Many won't be able to be approved. Other companies will be a better choice.

 

[rousemark]

That's really unacceptable. Since the first spouse is usually aging in with no health underwriting.

Many won't be able to be approved. Other companies will be a better choice.

If I remember correctly, they would not even give Charlotte the discount until I qualified for it even though once she was issued that meant both of us had med supp with them.

 

[jacobtn]

Yeah.. when I changed my wife's to Equitable, I had to reapply on my existing coverage in order to get the discount.. No real problem but a bit of aggravation and if my cancer treatment had been more recent, we would not have gotten it because I would have been able to medically qualify. They did say it would not restart the contestable period.

At least your commissions will restart now for a new 6 yrs

 

[rousemark]

At least your commissions will restart now for a new 6 yrs

Probably not.. even though the policy details show an effective date of 11/01/2014, the commission statement shows an effective date of 01/01/2013.... However, they are also paying the 2013 commission rate instead of the 2014 rate so that is a good thing. Doesn't really matter I may make some changes after I reach the 5yr cancer treatment free mark this October.

 

[goillini52]

Me too except one really bad thing lately. Had a husband on their med sup. told them when the wife ages in they will both get a discount.

When she aged in, they said no. They both have to apply at the same time. If the husband is not healthy enough to re-apply and be underwritten, it blocks them both from the household discount.

Has anyone else run into this with Equitable? Very odd way to do a household discount.

I don't have that problem in Illinois. They get the discount if they live with at least one person(but not more than 5) that's 30 or over. Spouse doesn't need to apply. It's also this way in NC, SC and VA.

 

[gdheinrich]

I don't write with companies that nickle and dime you to death. Just received the forms to sign up with Equitable. Based upon this thread, I threw them in the trash. Life is too short to deal with companies that do things like this. There are a lot of reputable companies to do business with that don't pull these petty things.