Do any of you guys write United Teachers for Med Sup/LIfe? I know they went through some rate increases and are notorious for "blocking" business. I really would like to know what street commissions are for those products. I need to make sure my FMO is as high on the commissions totem pole as they claim they are...
Tell you what, Hoosier....if you look like that image avatar I would NEVER OPEN the door. Sorry, but you look ske-ee-r-r-ry! (damm hippie)
UTA was originally an Georgia co that relocated to Texas. Their rates are high here in our state, but of course some people have bought it. Usually comm is 20-22% if i recall.....but why not sell for Pacificare if higher rates don't deter you. They offer the same comm and are a part of United Healthcare...so those people shopping AARP can buy from you because in essense same co, diff division.
Is your FMO going to help you with finding prospects? Like providing you with lists, or low/free mail-back leads, or telemktg? I'll sell at 16-18% if they can provide me with a bunch. Consistently
They were at one time highly competitive here in 'Hoosier-land' Since the gold-rush of Medicare Advantage, and the uncertainty, at the time (2 years) ago of medicare supplements I put a hold on my Supplement writing. I have lost a handle on the supplement companies and rates. Just thought I would check...
They were at one time highly competitive here in 'Hoosier-land' Since the gold-rush of Medicare Advantage, and the uncertainty, at the time (2 years) ago of medicare supplements I put a hold on my Supplement writing. I have lost a handle on the supplement companies and rates. Just thought I would check...
Try Admiral, I hear they have the most affordable rates in Indiana...
And you keep posting, you too will become a super genius...
Wow, I never thought of Admiral? Now I see why you are a "Super Genius"
How is the appointment setting off the calling list going? If it was me I would hire Frank to set Appointments.... LOL Itwould be well worth the grand a week...
United Teachers "blew into Missouri" a couple of years ago. Agents scrambled like hell to put everyone with them their rates were so cheap. Two years later they dropped the "huge increase" bomb on their clients.
Agents then went looking for the newest kid on the block and dumped their clients with that company. Now United World is the newest kid on the block. I just heard that in one of the states they are in they just had a 30% premium increase. I have seen that happen with the last three or four companies that have recently started selling Med Supps in Missouri.
There is only one company that hasn't done that in the last seven years, Continental Life. I licensed with them seven years ago, their increases have been reasonable and occur only occasionally, not every year.
Their last increase was a couple of years ago and the increase was only 9%. The price for a Plan D for a 65 year old non smoking female is $93.25. That is very competitive with United World in Missouri.
I would suggest that you take a look at Continental if you want to put your clients with a very stable company. At least they have been that way in Missouri for the last seven years that I have been with them.
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Another small co I have been using for sev years is New Era Life out of Texas. (Houston)
They also have reasonable rates, a wide variety of plans, low rates for life/final expense and stable rate increases on med sups.
When you're fighting a price war out there, you want to be competitive too even though you know that rate has to go up with time.
OTOH...you can't guarantee that yours won't spike either...Just one big lotto!
(so I use the mutual fund disclaimer: past history is no guarantee of future performance.)
That is so true. What one can do though is look at the past performance of companies both in the states the agent sells in and in states the company has been in for some time and see what the increase history has been.
At best though, this will be an educated guess regarding future rate increases.
In the states where Continental Life is no longer competitive they are moving their "new company" American Continental into those states in an attempt to remain very competitive. As far as I know it is working well, so far.
UTA in IN is not so competitive and I am not sure why. They have pretty strict underwriting. They came out with H,I, J almost 2 years ago. The price's weren't too bad but they just got an increase here of 8%. So they are definetly a little higher than most right now. I have seen contracts for 25% with them. Maybe thats why they can't control the premiums.
I am considering UTA for final expense. Rates seem very competitive. Anyone have any dealings with them for FE? How tough is the underwriting, and how are they to deal with?
Why are you guys so interested in UTA. Their are alot more competitive products out there.
I personally like the UTA application, which looks like it takes all of 60 seconds to fill out. Oxford's app is lengthy plus they have a longer interview. I am an MGA for them, and will use them but not for every client.
UTA rate on the example 70 yr old Female, non smoker @15K face amount is $79.14.
But Oxford is $66.99. This is 15% less than UTA. If you have a clean risk, why would you not use the lower priced product? Assuming the client qualfies, would it not be dishonest to charge them more for what amounts to the same policy?
The fact that UTA has an easier application should not be the reason.
Rick
------------------------------------ ILIAA
Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
It is all on your perspective... UTA has an A rating with AM Best and Oxford is a B+. Wouldn’t it be a disservice to place a client with a lesser-rated company? I am just using semantics with you. UTA is a company that pays their claims, and that is important also.
Whats wrong with a B rating. Especially B+. If you wer going to buy it for yourself would you worry about the B rating or the price?
Personally...yes, I would worry about a B rating. Why would you use one when there are so many A rated companies? Does your E & O insurance even cover you if you write a B company?
The only B+ company I write at all is Homesteaders and that is only because the funeral home owner I sell for loves them and I am personally familiar with the company. I still write very little with them. I prefer A companies.
United Teachers Assc. Info?
Re: United Teachers Assc. Info?
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