Top 3 Final Expense/Guaranteed Issue Carriers

[jdeasy]

I had this happen with Americo Life on a death claim that I personally had within the 1st year on their no questions asked product called the Silver Consideration Plan. Presidential life has a 2 year period that you must return your commissions if the clients dies.

What companies do you represent that do not ask for the premiums back if the clients dies within the 1st year? I know of seen several companies ask for their commissions back if the policy is rescended or if death occurs within the first year. This does not come up often, because most agents don't have death claims within the 1st year.

It does not seem like UHL is the company for you. Seems like you think you may have a death claim within the 1st year and have to repay back your commissions and you feel like that they have too many questions on their graded benefit plans. I think the questions helps with the chances that are a high risk of dying within the next year.

You are correct that UHL is not the company for me. I do not write for them anymore.

They ask more questions for their graded benefit than many other companies ask for immedicate benefit.

Why do you agree with a company charging the agent back for a client's death? As for being charged back, I just had a LH client die in the 11th month. They charged me back one month.

UHL should team up with Parker and Asses. Seems like a match made in heaven.

 

[Mark]

Why do you agree with a company charging the agent back for a client's death? As for being charged back, I just had a LH client die in the 11th month. They charged me back one month.

Yes, I agree with the companies doing this. They put it in writing ahead of time. It is also in your contract and in writing in other places with most companies. I think it is only fair for a company to do this. As long as it is in writing ahead of the time, I okay with it.

When Americo done this to me, I understood. It was only fair. I had studied the product and read every word in the contract and was aware of this. Also anytime a client lies and they send back a policy within the first 2 years, all companies will ask for their commissions back also.

If you knew they did this ahead of time and you didn't agree with it, why did you go ahead and agree with it and write business?

Also you never answer the question, which company do you write for on a graded benefit product that does not do the same thing? If you don't want to answer the question that is okay.

Again, I don't know of any company that does not do the same thing on a graded death benefit plan. I don't blame the company. It seems only fair to me. It keeps agents from writing clients on their death beds and trying to sneak one by the company. The avg agent will not have a client die in the first year of natural causes. That is another reason why they ask those questions, to weed out the clients they feel could die within the first two years.

The companies do what they put in writing that they are going to do. It should be no surprise to you.

 

[xrac]

Yes, I agree with the companies doing this. They put it in writing ahead of time. It is also in your contract and in writing in other places with most companies. I think it is only fair for a company to do this. As long as it is in writing ahead of the time, I okay with it.

When Americo done this to me, I understood. It was only fair. I had studied the product and read every word in the contract and was aware of this. Also anytime a client lies and they send back a policy within the first 2 years, all companies will ask for their commissions back also.

If you knew they did this ahead of time and you didn't agree with it, why did you go ahead and agree with it and write business?

Also you never answer the question, which company do you write for on a graded benefit product that does not do the same thing? If you don't want to answer the question that is okay.

Again, I don't know of any company that does not do the same thing on a graded death benefit plan. I don't blame the company. It seems only fair to me. It keeps agents from writing clients on their death beds and trying to sneak one by the company. The avg agent will not have a client die in the first year of natural causes. That is another reason why they ask those questions, to weed out the clients they feel could die within the first two years. The companies do what they put in writing that they are going to do. It should be no surprise to you.

It seems like a fair practice to me. This way the company and the agent share exposure and it should help to keep agents honest.

 

[jdeasy]

Yes, I agree with the companies doing this. They put it in writing ahead of time. It is also in your contract and in writing in other places with most companies. I think it is only fair for a company to do this. As long as it is in writing ahead of the time, I okay with it.

When Americo done this to me, I understood. It was only fair. I had studied the product and read every word in the contract and was aware of this. Also anytime a client lies and they send back a policy within the first 2 years, all companies will ask for their commissions back also.

If you knew they did this ahead of time and you didn't agree with it, why did you go ahead and agree with it and write business?

Also you never answer the question, which company do you write for on a graded benefit product that does not do the same thing? If you don't want to answer the question that is okay.

Again, I don't know of any company that does not do the same thing on a graded death benefit plan. I don't blame the company. It seems only fair to me. It keeps agents from writing clients on their death beds and trying to sneak one by the company. The avg agent will not have a client die in the first year of natural causes. That is another reason why they ask those questions, to weed out the clients they feel could die within the first two years.

The companies do what they put in writing that they are going to do. It should be no surprise to you.

-Apparaently you do not read responses unless you agree with them. I said I just had a Lincoln Heritage client die in the 11th month and I was charged back one month. How is that not answering the question?

As for UHL, they did not tell me during contracting that they charged back 100% in the first year. They didn't inform me of that until they sent the final contract. Once reading that, I never wrote one of their graded policies.

As far as companies that do chargeback in full, I disagree completely with that practice. The agent goes out and sells the companies product. The agent should not lose pay because the client didn't live. Any earned commission is earned commission. No other business works that way. If I buy a horse from somebody and he dies a few months later, the previous owner won't give me my money back.

I do get mailers from FE companies all the time promoting that they do not chargeback for death. Maybe those companies are lying?

 

[Russ]

-Apparaently you do not read responses unless you agree with them. I said I just had a Lincoln Heritage client die in the 11th month and I was charged back one month. How is that not answering the question?

As for UHL, they did not tell me during contracting that they charged back 100% in the first year. They didn't inform me of that until they sent the final contract. Once reading that, I never wrote one of their graded policies.

As far as companies that do chargeback in full, I disagree completely with that practice. The agent goes out and sells the companies product. The agent should not lose pay because the client didn't live. Any earned commission is earned commission. No other business works that way. If I buy a horse from somebody and he dies a few months later, the previous owner won't give me my money back.

I do get mailers from FE companies all the time promoting that they do not chargeback for death. Maybe those companies are lying?

Be careful writing Lincoln Heritage....I wrote for them for awhile...not a great deal of policies(around 20)....then had a health issue where I couldn't work much for awhile and they canceled my contract and kept my renewals....

In their defense they gave me a warning about writing business with them within 30 days or else, but my health issue(dialysis), made it hard to work. I even explained it to them in a letter and they still canceled my contract for no sales within 30 days.

I don't write a ton of burial policies(I'm more into med-supps), but they pissed me off. LOL...and they offered me another contract but I wouldn't be allowed to pick up my renewals under the original contract. I turned them down....

 

[padthaiforlunch]

So what other carriers don't charge back the full year?

-I said I just had a Lincoln Heritage client die in the 11th month and I was charged back one month. How is that not answering the question?


I do get mailers from FE companies all the time promoting that they do not chargeback for death. Maybe those companies are lying?

 

[oicu812nbama]

Look at Lincoln Heritage phx az/ dont letem con you in2 buyin leads from them tho

 

[srdirusa]

We have an easy issue that is from 0-85 and if they can fog up a mirror they will qualify. They can't be in a hospital, nursing facility, receiving hospice care, terminally ill, or incarcerated or expect to be admitted to a hospital or nursing facility. No HIV or AIDS. That's pretty simple!
Here's where I found it:
http://seniordirectusa.com

 

[insuranceexec]

We have an easy issue that is from 0-85 and if they can fog up a mirror they will qualify. They can't be in a hospital, nursing facility, receiving hospice care, terminally ill, or incarcerated or expect to be admitted to a hospital or nursing facility. No HIV or AIDS. That's pretty simple!
Here's where I found it:
Home

Before you post your link it would be a good time to tell folks that this is YOUR company.

We don't want folks getting the wrong impression of ya.......

 

[Mark]

We have an easy issue that is from 0-85 and if they can fog up a mirror they will qualify. They can't be in a hospital, nursing facility, receiving hospice care, terminally ill, or incarcerated or expect to be admitted to a hospital or nursing facility. No HIV or AIDS. That's pretty simple!
Here's where I found it:
Home

LOL

What do you mean, Here is where you found your it? Was it hard to find your own link?

insuranceexec is right on!