Browse: Home / adverse selection
By Ed Hinerman on March 26, 2013
We left off the other day with a description of Protective Life’s universal life conversion product, a product that simply defies the imagination. Since they introduced….no wait. They forgot to introduce the product. Since they gave their loyal term customers a bad UL suppository, agents and clients alike have been trying to figure out, beyond ...read more
Posted in bait and switch, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, insurance, life insurance, lifetime guaranteed UL, loyal customers, over 50 life insurance, term insurance, universal life | Tagged adverse selection, bad UL, conversion option win/win, convert as investments, didn't listen to actuaries, insurance, life insurance, life settlement adverse selection, life settlements, millions of people to drink the poison, never hinted to agents, never hinted to customers, Protective life bad conversion option, Protective to greedy to listen
By Ed Hinerman on March 21, 2013
Even though Protective and West Coast Life fired me years ago I still get their propaganda and that, along with an almost simultaneous run in with a Protective abusee has once again fired me up again to remind all of you out there who have Protective linked policies, even those that go all the way ...read more
Posted in conversion, guarantee, guaranteed level premium, life insurance, over 50 life insurance, Protective Life, term insurance, universal life, West Coast Life | Tagged adverse selection, conversion option in term life insurance, determined permanent needs, honest life insurance agent, insurance, life insurance, over 50 life insurance, over 60 life insurance, policy rendered useless, Protective Life Actuaries, Protective Life protecting themselves, Protective Life term life, Protective Life term sales binge, reason for conversion option, removed permanent coverage from conversion, term life insurance
By Ed Hinerman on August 1, 2012
Second only to life insurance agents for being blasphemed by the life insurance buying public is the Medical Information Bureau, or MIB. The MIB is a super warehouse of health and lifestyle information gathered from life insurance applications as they are processed by member companies, and yes, when you sign the application you give the ...read more
Posted in insurance, life insurance, Medical Information Bureau, smoking | Tagged adverse selection, company member of MIB, cuts bad decisions and losses, errors corrected, fight fraud, impaired risk life insurance, information regarding insurability, information treated as confidential, insurance, life insurance, life insurance bad guy, life insurance good guy, Medical Information Bureau, MIB, non smoker rate class, positive nicotine use test, smoker rate class, turning decline into approval |
By Ed Hinerman on April 3, 2012
If I’ve gone a month in the last three years without talking about conversion options and the mean spirited way some life insurance companies have treated it, forgive me. There is nothing I am quite so passionate about as beating the ugly truth completely to death. Starting with the West Coast Life fiasco now three ...read more
Posted in conversion, Independent agent, insurance, life insurance, term insurance, West Coast Life, whole life | Tagged adverse selection, Colorado State insurance commissioner, conversion, conversion optiion, Greg Zabel, insurance, law of large numbers, life insurance, Life insurance buyers guide, liftetime guarantee, low cost life time guarantee conversion, low cost term insurance, NAIC, NAIC buyer's guide, National Association of Insurance Commissioners, should off permanent option for conversion, term life insurance, West Coast Life, whole life insurance
By Ed Hinerman on March 24, 2012
I went to war with the life insurance industry several years ago over the issue of children with impairments not having access to coverage, even at a higher rate than the standard rate they offer perfectly healthy kids. The issue came up when I shopped for life insurance for a mother whose child was a ...read more
Posted in Active Duty Military Life Insurance, children's life insurance, conversion, insurance, Juvenile life insurance, life insurance | Tagged adverse selection, adverse selection isn't profitable, children's life insurance, epilepsy, higher mortality risk, impaired risk children's life insurance, insurance, Juvenile life insurance, juvenile type 1 diabetes, life insurance, underwriting criteria
By Ed Hinerman on July 6, 2011
A few days ago I was on a bit of a rip over the subjects of conversion privileges and how far too many companies are changing products offered to non guaranteed UL’s, rather than permanent products. The answer lies somewhere in a slight of hand the companies are using to call a life insurance permanent ...read more
Posted in accelerated death benefit, conversion, insurance, life insurance | Tagged adverse selection, conversion, guaranteed, insurance, life insurance, NAIC, National Association of Insurance Commissioners, no lapse UL |
By Ed Hinerman on November 2, 2010
I have always been an advocate of buying a term length, or multiple term policies that reflect your actual life insurance needs with different term lengths. Due to some recent changes in conversion options I am considering an amendment to my recommendation. It all started last in the summer of 2009 with West Coast Life ...read more
Posted in Banner Life, conversion, insurance, life insurance | Tagged 10 year guarantee, adverse selection, American General Life, Banner Life, cash flow, conversion, death benefit, insurance, life insurance, permanent life insurance, term insurance, UL, universal life, West Coast Life
