I knew it was bound to happen. Aetna, American Continental and Continetnal Life will be changing their commission structure on GI business. We won;t be able to view it until late tomorrow. Any guesses on how low it will go? Here's a copy of the email:
[FONT="]Medicare Supplement -- Important Commission Update[/FONT]
[FONT="]Effective[/FONT][FONT="] [FONT="]October 7, 2013[/FONT][/FONT][FONT="], your [FONT="]Medicare Supplement Schedule of Commissions[/FONT] issued by the Company* has been [FONT="]revised[/FONT]. The revised schedule(s) reflect a new commission structure [FONT="]primarily [/FONT]for [FONT="]Guaranteed Issue [/FONT]business which will allow us to maintain our competitive pricing.
[/FONT][FONT="]What You Need to Know:[/FONT]
[FONT="]Sincerely,[/FONT]
[FONT="]
[/FONT]
[FONT="]Michael Atchison
Chief Marketing Officer [/FONT]
[FONT="]*Aetna Health and Life Insurance Company (AHLIC), American Continental Insurance Company (ACI), and Continental Life Insurance Company of Brentwood, Tennessee (CLI), all Aetna Companies (the Company). [/FONT]
[FONT="]Medicare Supplement -- Important Commission Update[/FONT]
[FONT="]Effective[/FONT][FONT="] [FONT="]October 7, 2013[/FONT][/FONT][FONT="], your [FONT="]Medicare Supplement Schedule of Commissions[/FONT] issued by the Company* has been [FONT="]revised[/FONT]. The revised schedule(s) reflect a new commission structure [FONT="]primarily [/FONT]for [FONT="]Guaranteed Issue [/FONT]business which will allow us to maintain our competitive pricing.
[/FONT][FONT="]What You Need to Know:[/FONT]
- [FONT="]The revised schedules will apply in all states where the Company's Medicare Supplement products are available except CO, OR, SC, TN, and WI.[/FONT][FONT="][/FONT]
- [FONT="]Schedules vary by state - agents actively appointed to sell the Company's Medicare Supplement plans can view, download, and print their revised commission schedule(s) by logging onto the secure (agent) side of our website, aetnaseniorproducts.com[FONT="] [/FONT]on or after 6:00 p.m. CST on [/FONT][FONT="]October 4, 2013[/FONT][FONT="].[/FONT][FONT="][/FONT]
- [FONT="]The new schedules will apply to any new Medicare Supplement application that has an [FONT="]applicant's application signature date[/FONT] on or after [/FONT][FONT="]October 7, 2013[/FONT][FONT="] [/FONT][FONT="](regardless of the policy effective date).[/FONT][FONT="][/FONT]
- [FONT="]Commissions shall be vested in accordance with the terms of your Contract with the Company.[/FONT][FONT="][/FONT]
- [FONT="]Submission of a new application dated on or after the effective date of the applicable Schedule of Commissions will constitute acknowledgement and acceptance of its terms by the agent[/FONT][FONT="]. [/FONT][FONT="][/FONT]
[FONT="]Sincerely,[/FONT]
[FONT="]
[FONT="]Michael Atchison
Chief Marketing Officer [/FONT]
[FONT="]*Aetna Health and Life Insurance Company (AHLIC), American Continental Insurance Company (ACI), and Continental Life Insurance Company of Brentwood, Tennessee (CLI), all Aetna Companies (the Company). [/FONT]