Mutual of Omaha Rate Increases

[somarco]

Bankers Fidelity Assurance and Bankers Fidelity Life.

Not exactly the same thing. They are split in GA, using BFAC for plan F only and BFLIC for G.

New Era, New Era Midwest and Phil Am have mostly been one carrier, one state. New Era Midwest replaced New Era in GA a year or so ago but when they hand out rate increases it is across the board. Same increase for new business and existing.

Believe they replace Phil Am with New Era (or Midwest) in TN a year or so ago but again, did not give different rates to existing policyholders vs new ones. I think they are retiring the Phil Am name and replacing with Midwest.

 

[goillini52]

Not exactly the same thing. They are split in GA, using BFAC for plan F only and BFLIC for G.

New Era, New Era Midwest and Phil Am have mostly been one carrier, one state. New Era Midwest replaced New Era in GA a year or so ago but when they hand out rate increases it is across the board. Same increase for new business and existing.

Believe they replace Phil Am with New Era (or Midwest) in TN a year or so ago but again, did not give different rates to existing policyholders vs new ones. I think they are retiring the Phil Am name and replacing with Midwest.

Well it gives them another name to use if they want to play the game. Makes me wonder why they need 2 companies for 2 plans in the same state.

In Illinois their New Era's FE is under Philadelphia American and the Med Supp under New Era of the Midwest.

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F and G are both under Bankers Fidelity Life in Illinois.

 

[somarco]

I don't have any direct experience with BF but I do with New Era. Unlike MOO I haven't seen them increase rates on an old block once they retire that name.

 

[goillini52]

I don't have any direct experience with BF but I do with New Era. Unlike MOO I haven't seen them increase rates on an old block once they retire that name.

I don't have any experience with BF either, other than I looked at them 10 years ago or so and they were high on all of their products. Their Med Supp looks fairly competitive and they definitely have some niches for the Med Supp and the FE, which is high.

I'm not comparing New Era with MOFO, I'm just saying that having several companies under the umbrella, they're set up so that it would be easy for them if they choose to play the game. From what I understand, New Era has the most stable premiums over the past 5 years.

 

[rbrewer]

I don't have any experience with BF either, other than I looked at them 10 years ago or so and they were high on all of their products. Their Med Supp looks fairly competitive and they definitely have some niches for the Med Supp and the FE, which is high.

I'm not comparing New Era with MOFO, I'm just saying that having several companies under the umbrella, they're set up so that it would be easy for them if they choose to play the game. From what I understand, New Era has the most stable premiums over the past 5 years.

If you write turning 65 with New Era they will terminate your contract. They only want underwritten business.

 

[goillini52]

If you write turning 65 with New Era they will terminate your contract. They only want underwritten business.

Seems like I've heard something like that. I have 6-7 cheaper in my bag at that age, so I don't have to worry about being termed for that.

 

[jacobtn]

Re: Mutual of Omaha Rate InIncreases uhcreases

Nope, Heartland's the only company that Equitable TPA's that has the association.

You forgot LCBA.

 

[goillini52]

Re: Mutual of Omaha Rate InIncreases uhcreases

You forgot LCBA.

They're not an association...they're a Fraternal Benefit Society. Their Med Supp is a policy and NOT a certificate.

 

[jacobtn]

Re: Mutual of Omaha Rate InIncreases uhcreases

They're not an association...they're a Fraternal Benefit Society. Their Med Supp is a policy and NOT a certificate.

Hmm Ok.

I thought since their name was "loyal Christian benefit association" they were an association. My mistake.

 

[goillini52]

Re: Mutual of Omaha Rate InIncreases uhcreases

Hmm Ok.

I thought since their name was "loyal Christian benefit association" they were an association. My mistake.

That's the name of the company. Heartland National is still Heartland National. They're just using the Saver's Association as a gimmick for their latest venture into the Med Supp market.