Transamerica Med Supp - Yes/No?

I'm glad you posted this. Trans is relatively new to the NJ market, AFAIK. I've heard mixed things about them, although their rates (for F & G) are competitive. Their G & N are almost the same price! I was thinking of starting to offer them. I can deal with a mediocre app and such as long as the client gets the support when they need it.
 
I've been using them for a while in several states. No complaints at this time. Rate increases are average to slightly above. I think some of the issues might be with their old Stonebridge Life line of business.
 
I'd recommend picking them up! They've had issues in the past but they've been solid for 2-3 years now in most states. Beyond Trans, a lot of our agents in multiple states really like Aetna CLI, Cigna (ARLIC), and M of O (depending on the state). All have great agent comp 20-22% street, easy online apps, quick commissions paid and a user friendly agent portal.
 
How many of you use Trans for Med Supps. They appear to be competitive in my areas, but I don't have them. Are they worth picking up?

I've written about 75 apps with them in the last year and a half. Their e-app is great if client has an Email to sign. Using the phone signature is horrible. They take forever and ask 50 million questions.

When mailing apps, 75% of the time they claim it is missing pages when in fact they have morons who scan them in and get pages out of order.

THey also have a strict pre-existing condition addendum that I'm not sure all carriers have.
 
That's why their rates are so reasonable.
I was told that the reason their rates were so low is because they were trying to build market share; and that would eventually lead to a noticeable premium increase.
 
Its the same crapola they all pull. Build a huge book with low rates, then 3 years later, close the book and the sick people are stuck and the rates go way up.

I agree for the most part. Most of the time it happens exactly like you said....but not 100% of the time.
 
This may be true, but it is only an educated guess at this point.

Todd,

Because of my "camp follower's" posts, I just want to tell you that I was not trolling with my post.

I had forgotten this until I looked just now, but in KS there are 2 Transamerica companies selling Medigap policies. The outlier low price one is Transamerica Premier Life Insurance Company.

Rick is always saying "Ask an agent". In this particular case, I did seek out an individual whom I thought was an experienced and knowledgeable Medicare Supplement agent and ask. The information I gave above is what he told me. I had/have no way of knowing if what he said was/is true-all I could do was rely on his experience and judgement.

(if this is an important enough issue that you need some verification of what I've said, PM me.)

LD
 
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