Genworth Withdrawing in Florida

[Russ]

Got this email today....

"Dear Valued Agent: Genworth recently notified the Florida Office of Insurance Regulation that we are withdrawing our Florida Medicare Supplement product on three Genworth Financial underwriting companies (American Continental Insurance Company, Continental Life Insurance Company of Brentwood, Tennessee, and Genworth Life and Annuity Insurance Company). The withdrawal requires that we no longer market the product after October 1, 2009. Upon receipt of this notification, agents should no longer be marketing the Genworth Medicare Supplement or Medicare Select products in Florida.
This change will not impact our existing Florida Medicare Supplement or Medicare Select policyholders or their premiums. Our valued Florida policyholders will continue to receive the same professional level of customer service they enjoy today.
Agents will continue to receive commissions on all active policies previously issued in Florida based on the commission schedule in effect at the time the policy was written.
Agents who have Medicare Beneficiaries who wish to apply for coverage must read the attached News Flash Bulletin #10709.
Call our Agent Services Team at 800 445.4254 (Option 2 Sales) should you have any questions.".........






I haven't written any med-supps for Continental Life in Florida since 2006. Rates are too high....15% commission w/a 6 month advance...phone interviews on every application after the company receives it...interest charged on advance.


Continental Life has nothing left in Florida.

 

[Jessica Durphy]

HEY RUSS, I was reading your post about American Continental... are they a decent company to work for? I'm in Pennsylvania, I had a gentleman give me an opportunity to get appointed under him, so I wanted to do my research abou the company. What he gave me... said that commissions for Plans A,B,D,and J... are 22% and Plan F is 19%. Must be in this are C isn't availiable... But anyway, if given the opportunity would you jump on it or run from this company?

I have a lady that I'm meeting with, you actually posted a comment in my other posts about UNDERWRITING if you remember.. this fella said American Conitinental will accept her and her rates according to the "rate sheet" will be cheaper for her! But I want to know how often their rates increase, is it twice a year, just on her bday, I need to know more about this company! I refuse to get myself in a pickle and hurt this lady's coverage.

Another question, if you don't mind too... I'm meeting with a fella who is 70 years old..VERY HEALTHY man, he's not taking a single medication for anything. But about 2 years ago, he got a blood test done and it showed that his blood cells were a little elevated. I guess a normal blood cell count should be approximately 10, his was elevated to 19 up to 30. His doctor termed it CLL... (Chronic Lymphonic Leukemia) HE DOESN'T HAVE LEUKEMIA, but that's the term of his condition. He has absolutely no issues with it... but I was told by New Era Life that they will not accept him. Maybe American continental will. Do you know? or is there another compnay that would, have you ever heard of that before?

 

[Russ]

HEY RUSS, I was reading your post about American Continental... are they a decent company to work for? I'm in Pennsylvania, I had a gentleman give me an opportunity to get appointed under him, so I wanted to do my research abou the company. What he gave me... said that commissions for Plans A,B,D,and J... are 22% and Plan F is 19%. Must be in this are C isn't availiable... But anyway, if given the opportunity would you jump on it or run from this company?

I have a lady that I'm meeting with, you actually posted a comment in my other posts about UNDERWRITING if you remember.. this fella said American Conitinental will accept her and her rates according to the "rate sheet" will be cheaper for her! But I want to know how often their rates increase, is it twice a year, just on her bday, I need to know more about this company! I refuse to get myself in a pickle and hurt this lady's coverage.

Another question, if you don't mind too... I'm meeting with a fella who is 70 years old..VERY HEALTHY man, he's not taking a single medication for anything. But about 2 years ago, he got a blood test done and it showed that his blood cells were a little elevated. I guess a normal blood cell count should be approximately 10, his was elevated to 19 up to 30. His doctor termed it CLL... (Chronic Lymphonic Leukemia) HE DOESN'T HAVE LEUKEMIA, but that's the term of his condition. He has absolutely no issues with it... but I was told by New Era Life that they will not accept him. Maybe American continental will. Do you know? or is there another compnay that would, have you ever heard of that before?

I never wrote for American Continental. Always Continental Life(sister companies...same outfit owns both). Continental is a good company to write for. The negatives I listed in my original post on this.

If the commission in your state is 22%, that looks like something to jump at.

As far as your 2nd prospect, I'd suggest calling American Continental and asking them. Companies will let you talk to underwriters and you can get a good feel for whether they would possibly take someone.

AARP would take him, but that's in Florida where their only health question is..are you on kidney dialysis.

 

[Jessica Durphy]

thanks a lot! with this forum, you are totally taking a chance on trusting someone you know?!

 

[Russ]

thanks a lot! with this forum, you are totally taking a chance on trusting someone you know?!

If in doubt talk to an underwriter. No sense wasting your time if it would wind up being declined. Prospect might then be less inclined to try option 2.

One more thing about Continental Life...when I said the rates were too high...that was in Florida. I'm not familiar with Am. Continental's rates in your prospects state.

 

[YouGotMyMoney]

It's funny,they are still on the Medicare website as being available in FL.

 

[jwilson]

Jessica, I write for AC in PA and like them.

Does anyone know if this info is still current in FL? I have a client who was curious about cross-checking rates with FL. Thanks in advance