Insurance Commercial Vehicle

Freedom Life – Avoids Reform with Sneaky Maneuver

Insurance — Fri, 11 Nov 2011 09:11:39 +0000

Today, a health insurance client forwarded to me a proposal from Freedom Life (US Health Group). I recognized the plan because I used to sell Freedom Life before 2007.

What amazed me is that the policy has a $5,000,000 life-time cap. Upon closer inspection of the 28 page brochure, I never found the words “major medical”. There was a statement that said, “This specialty plan will not subject you to the limitations of Health Reform laws” (paraphrased).

So it appears that by refusing the remove the $5,000,000 lifetime cap, Freedom Life avoided having their plans and company subject to every aspect of HealthCare Reform, including the MLR, Preventive Care, etc.. It is essentially the same plan they’ve sold for the past 10+ years, but can’t legally be called “Major Medical”. Very SNEAKY of them.

At $361 @ month for a 44 year-old smoker ($6,000 deductible w/ 70-30 of $20,000 and Critical Illness/Accident deductible elimination riders) it was quite expensive, but the brochure was laid out so well with real life stories and examples that the client was impressed enough to consider dumping his $329 a month $1,500 deductible HSA…thinking that the Freedom Life was better! All the more reason why our expertise is so needed during this crazy Health Insurance Reform era we’re entering.
-Allen

by: AllenChicago

Anthem/Blue Cross Ca..

Insurance — Fri, 11 Nov 2011 09:08:37 +0000

I have a nice Blue Cross book of biz in CA. Next year I will move to Arizona. Do any health agents see any issue in doing insurance in AZ and CA. Plan on having my CA license turn to non-residence license.

Had many agents ask me to buy my Blue Cross book. I decided not to sell it. It so easy to maintain and the renewal are very steady.

by: Sales71

Pass-Through Commissions (NAHU) & MLR

Insurance — Fri, 11 Nov 2011 09:00:40 +0000

It appears NAHU (via Janet Trautwein) is attempting to justify the exemption of agent commissions from MLR because the commission is a “pass-through” expense that the carrier simply collects and distributes as a cost of aquisition/servicing. I believe this the be a very slippery slope which could cause damage to agent compensation long-term. I have a blog intended to be published early next week regarding this issue.

If commissions are considered “pass-through” and thus a part of the subscriber’s cost of aquisition/servicing, then that leaves room for the subscriber to want to negotiate on the ‘pass-through’ commission expense (see: rebating) and ALSO would allow carriers to reduce the cost of insurance purchased direct from the carrier by the amount of the pass-through or some amount lower than the cost of aquisition/servicing under the current model (see PacifiCare).

This strategy is may be a bad one and could cost agents in the long run a lot more than the current MLR cuts to commission. We could end up competing with carrier direct sales units for sales in the field on an uneven pricing schedule.

Your thoughts?

by: Dave020

MLR Affects on Aetna / Assurant

Insurance — Fri, 11 Nov 2011 08:55:56 +0000

Ok, someone want to explain this comment from an Aetna rep:

“Aetna expects to reduce large-group rebates in 2012 by adjusting pricing, and it expects to reduce individual products through its commission strategy, Zubretsky said.”

Does this also mean that commissions are going lower even more for IFP? Or, are they at that optimal point now. They are already the lowest in the biz

by: Yagents

What is the Point of Splitting UM & UIM Coverages?

Insurance — Thu, 10 Nov 2011 09:08:59 +0000

up until recently, I have only had to deal with a state that combines the coverages as an all or none selection (meaning you select both uninsured and under-insured both, or you select neither one). there is no such thing as selecting UM but rejecting UIM.

but as I have learned, some states split these coverages. my question is WHY? unless I am missing something, I see no point in it. To me, that would be like gambling your UM/UIM coverage to a 50/50 coin toss just to save a few measly bucks.

I can’t think of one scenario where splitting UM & UIM makes any sense. And unless I’m missing something, I don’t think I want to even make this option available. looks like a bad idea!

by: BlockO

Anyone Experienced with Insurance Noodle or Superior Access

Insurance — Thu, 10 Nov 2011 09:02:47 +0000

Hello, Does anyone have experience working with either one of these? I’m looking for a pnc broker to place my autos with until i can

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DUI Ticket For A Passenger. What !!?

Insurance — Thu, 10 Nov 2011 08:52:48 +0000

Client called today to ask why her rate went up like %200. Well I told her let me check to see if she had any tickets…then she said she got a DUI while she was a passenger with her friend. Well thats a good reason for a major rate increase.

The story did not make sense. Can she get a DUI ticket while you are a passenger ?

by : Sales71

Looking for a Good Allstate Agent in NJ (preferably South Jersey)

Insurance — Thu, 10 Nov 2011 08:39:30 +0000

Hey guys,
I’m a newbie here. My insurance agent of 4 years decided to get involved in other business and discontinued his all state agent license. So now, I have been using the “AllState Call center” but I’d like to have a good agent.

I need a reliable and honest agent who will listen to me and take care of my auto loan(s). So, if you guys know any good agent in NJ (preferably South jersey as I live in atlantic city. But away from south jersey in okay too. as long as they are in NJ), please let me know. Thank you in advance for your time

by : 50 Milisievert

Car Insurance

Insurance — Wed, 02 Nov 2011 08:16:15 +0000

Car insurance, such as traditional auto insurance, covers the repair or replacement of a vehicle damaged in an accident and shoulders the cost of any claims for injury or property damage filed by third parties. There are three kinds of coverage available: private and sporadic business use, which covers the intermittent use of the car for commercial purposes as long as the car is not registered for business purposes and does not represent an important part of your business income; private and business use, which covers customary use of the vehicle for commercial purposes by the regular driver or any named driver; and commercial coverage, which provides coverage where the named driver uses their personal vehicle as part of their work. You have to apply for the particular type of cover that you need. If your staff also use their personal cars in their work, you should also take out “non-owned auto” policies; this provides coverage whenever a business uses a vehicle that is not in their name, including the business owner’s personal car.

by :delela

Multiple DUIs and Life Insurance

Insurance — Thu, 06 Oct 2011 07:34:52 +0000

Talked to a guy who is 37 years old and in good health. The problem is that he has 3 Duis. One in 2004, 2007 and 2009, does anyone know of an insurance company that will take him for term life insurance. He would like to get $ 250K for 20 years, but I have not found anyone that writing?

Any suggestions?

by : sdmillar