United Commercial Travelers of America

InsuranceJosh · 02-08-2008, 05:57 PM

Anybody know who this is? I can not find them on AMbest and they have the lowest rates in the state this year.

moonlightandmargaritas · 02-08-2008, 06:02 PM

Quote:

Originally Posted by InsuranceJosh

I can not find them on AMbest and they have the lowest rates in the state this year.

Maybe that's why you can't find them in A.M. Best?

senior-advisor-indiana · 02-08-2008, 06:10 PM

Probably because it is a fraternal company. There rates are decent here too and I believe they pay commissions for life instead of just 6 yrs.

InsuranceJosh · 02-08-2008, 06:14 PM

I just looked and the rates in 2007 for a 65yr old male on an F plan was 320 a month.

Now they are the lowest in the state???

allhealthandlife · 02-08-2008, 09:01 PM

Quote:

Originally Posted by InsuranceJosh

Anybody know who this is? I can not find them on AMbest and they have the lowest rates in the state this year.

They use to be the lowest in Florida and i wrote over 200 between 1995 - 1998 and i am faithfully still getting 7 % renewals even though i haven't wrote a piece of business since then.

This is good opportunity to build a book business since we all know consumers mostly buy med supps on based on premium. In fact my selling tool when i was marketing UTC in Florida was theState Of Florida's Shopper Guide for Medicare Supplement that list all the plans and rates and i would show that UTC was lowest in the book.

Cenla Agent · 02-12-2008, 10:07 AM

They are the lowest or among the lowest in most states, and that's including when you factor in the fraternal fee. My understanding is that their rates aren't going up this year either. They are more selective with underwriting than companies like United World and Admiral in that they don't accept insulin dependent diabetics. Another good feature is that if you fax in the app and it is on bank draft, you don't have to collect the first month's premium.

The last time they were rated it was a C+, if I recall correctly, but they haven't been rated since about 2004. Since they are a fraternal company I don't think they have to be rated every year. They are reinsured by Gen re which I believe is A+ or A++

senior-advisor-indiana · 02-12-2008, 02:01 PM

Quote:

Originally Posted by Cenla Agent

They are the lowest or among the lowest in most states, and that's including when you factor in the fraternal fee. My understanding is that their rates aren't going up this year either. They are more selective with underwriting than companies like United World and Admiral in that they don't accept insulin dependent diabetics. Another good feature is that if you fax in the app and it is on bank draft, you don't have to collect the first month's premium.

The last time they were rated it was a C+, if I recall correctly, but they haven't been rated since about 2004. Since they are a fraternal company I don't think they have to be rated every year. They are reinsured by Gen re which I believe is A+ or A++

None of my Med supp or Final Expense companies require me to collect the first months premium.

InsuranceJosh · 02-12-2008, 05:55 PM

Quote:

Originally Posted by senior-advisor-indiana

None of my Med supp or Final Expense companies require me to collect the first months premium.

same here

Humble_Opinion · 02-12-2008, 11:10 PM

The rumor I have heard on the company is that about 5 years ago they had to rate increase themselves out of contention. This might be why they are not rated with AM Best. I know that they have recently taken rate increases in several states. I do not believe NC was one of them.

Cenla Agent · 02-19-2008, 07:25 PM

Quote:

Originally Posted by senior-advisor-indiana

None of my Med supp or Final Expense companies require me to collect the first months premium.

Not United World, or am I mistaken in thinking that you sell for them?

senior-advisor-indiana · 02-19-2008, 07:36 PM

I do not send in a check with United World. I fax in a voided one.

Cenla Agent · 02-19-2008, 08:52 PM

Quote:

Originally Posted by senior-advisor-indiana

I do not send in a check with United World. I fax in a voided one.

I wasn't aware they had the option to fax in the app, but I've only written a couple of apps.

sman · 02-19-2008, 11:32 PM

Quote:

Originally Posted by senior-advisor-indiana

I do not send in a check with United World. I fax in a voided one.

I do my apps with UW online now.

senior-advisor-indiana · 02-20-2008, 03:44 AM

Quote:

Originally Posted by sman

I do my apps with UW online now.

How do you do that? I don't pay much attention to UW. I just write them when people request it.

sman · 02-20-2008, 09:51 AM

Quote:

Originally Posted by senior-advisor-indiana

How do you do that? I don't pay much attention to UW. I just write them when people request it.

I believe I'm part of the pilot program and I think it's only through Senior Market Sales. I'm sure it will be opened up to everyone before long. It's pretty nice. You complete the app online and then the client gets an email to finalize the process. They sign in to the website, enter their banking information and electronically sign the app. I never have to see them or collect any paperwork.

AgentPipeline · 03-22-2008, 12:52 AM

Quote:

Originally Posted by InsuranceJosh

Anybody know who this is? I can not find them on AMbest and they have the lowest rates in the state this year.

They justed launched in North Carolina a couple months ago. So, I'm sure you a being hammered by marketing companies.

We've found them to be very competitive in most of their new states. They do have states that their rating slope is a little steep.

As far as rate increases... They've been good for us the last three years. We've seen low single digit increases in some states and in states where it's been a double digit increase, they're still competitive.

I'm also pretty sure they are 90% or 100% re-insured by GenRe.

Winter · 03-22-2008, 06:54 PM

Quote:

Originally Posted by AgentPipeline

They justed launched in North Carolina a couple months ago. So, I'm sure you a being hammered by marketing companies.

We've found them to be very competitive in most of their new states. They do have states that their rating slope is a little steep.

As far as rate increases... They've been good for us the last three years. We've seen low single digit increases in some states and in states where it's been a double digit increase, they're still competitive.

I'm also pretty sure they are 90% or 100% re-insured by GenRe.

They dont have an AM Best rating because they are a fraternal organization. They do have re-insurance. In my state, however, the Insurance Commissioner sent out a letter to all agents appointed with UCT warning them that the department does not guarantee the fraternals the same way as regular insurance (as far as state re-insurance) and that you must explicitly explain to the client that as a member of the fraternal organization they are on the hook for a share of any default by the company AND the agent is prohibited from stating that the private re-insurance that UCT has covers that risk or is a substitute for the state guarantee. The Department also explained in the letter that the agent must be upfront and forthcoming with this information and not treat it as an aside or a technical condition, that the customer must understand this as part of the sale.

I am just reporting the news. I dont make it.

Winter