Admiral

[Cenla Agent]

Admiral Life Insurance Company is apparently a newly approved Medicare Supplement for Louisiana. My FMO sent me contracting paperwork last week. Extremely competitive premiums, and like United World, they will accept an insulin dependent diabetic if less than 50 units a day and no other major problems.

However, I couldn't find much on the internet about them. Does anyone here know anything about them?

 

[midwestbroker]

I have never heard of them. I do know that a lot of carriers will go into a market with really low rates, then after a few years of rate increases they are middle of the pack. At that point, they are relying on the loyalty of seniors, or those who are too worried about change.

 

[Cenla Agent]

I have never heard of them. I do know that a lot of carriers will go into a market with really low rates, then after a few years of rate increases they are middle of the pack. At that point, they are relying on the loyalty of seniors, or those who are too worried about change.

And others who cannot change due to health, which just makes it go up higher as healthier clients switch and fewer and fewer new clients enroll due to the increases.....

 

[senior-advisor-indiana]

I just talked to a marketer today about admiral. It is the same price as united world, maybe a dollar difference. It is going to be reinsured by Mutual of Omaha. I don't understand that? The commiss is 21% though for 8 yrs. Sounds like a winner to me. It will have the same underwriting as sterlin investors I am told. It is a brand new company with no rating.

 

[policy doctor]

Is this a fraternal company?

I noticed that fraternal companies do not have a rating. Guess their reserve requirements are different, but I don't know the skinny on that.

Anyway, while trying to find infor on Admiral, which I didn;t, i found this DOI site informative.

http://www.nd.gov/ndins/consumer/comparison-detail.asp?id=30&plan=A&age=66&printable=1

 

[senior-advisor-indiana]

NO, I do not beleive this is a fraternal company. I did notice that the price changes from 65 to 66. ALot of companies have been giving the same rate for 65-67. Wow that site says UCT is the same price as united world. Much higher commission too.

 

[Cenla Agent]

NO, I do not beleive this is a fraternal company. I did notice that the price changes from 65 to 66. ALot of companies have been giving the same rate for 65-67. Wow that site says UCT is the same price as united world. Much higher commission too.

UCT of course is a fraternal company and their price changes from 65-66 as well. They have a very restrictive contract, attempting to bind the agent to the fullest extent of the law from ever replacing UCT business at any point in the future whether he wrote it or not. And this is even after you terminate your contract. (I have heard that Continental is very restrictive as well, but I haven't seen their contract.) However UCT's underwriting is stricter than United World and Admiral (both of whom will accept insulin dependent diabetics under some conditions) so hopefully they will be able to keep the rates down for a while.

I don't think fraternal companies have to have a rating, but many do. For example, Modern Woodmen is A+, I believe. The last time UCT was rated by A.M. Best it was C+, but that was 2004. They are reinsured by Gen re which is A++.

 

[senior-advisor-indiana]

Admiral will not accept diabetics with high blood pressure. Thats tough.

 

[Cenla Agent]

Admiral will not accept diabetics with high blood pressure. Thats tough.

What about United World?

 

[senior-advisor-indiana]

I dont know about United World. I have had their contract siting in my email for about a month now. I should get that in. They will probably stay lower longer than Admiral. I hope not but UW only got a 5% increase here this year.

I am a little ticked at Admiral though because they won't advance me on the 1st 2 policies I sent in because my FMO didn't send me the advance sheet. I don't see why they can't just advance it anyway. I am on advance now and I don't have any debts with any other companies.