Need Ameritas Contract

[insurance404]

Ummm, Penn Mutual has never done DI, so not sure you know the market competition...

I usually use The Standard, Guardian, MetLife or Principal for DI.

 

[DWPCL]

Just based on underwriting I would do business with Ameritas over Guardian.

Not everyone needs own occ anyway.

I think Penn had a DI contract in the past but I'm not 100% sure.

 

[BNTRS]

I think Penn had a DI contract in the past but I'm not 100% sure.

Years ago, yes.

 

[scagnt83]

Ummm, Penn Mutual has never done DI, so not sure you know the market competition...

I usually use The Standard, Guardian, MetLife or Principal for DI.

Your post insinuated that they still do. I dont sell Penn so I do not know their current product line very well... but I do see their term rates on term quote software which is why I know how they compare. And they used to offer DI because I have a life client who has it.

But modified Own Occ is no competition for full Own Occ which is why I made the comment that I did... your comment made it seem that Penn offers DI with modified Own Occ.

And if you were saying that Ameritas does not have full Own Occ; they offer it for most rate classes.

I know the competition very well. Which is why I know that when it comes to definition of disability, Guardian has the #1 policy. Ameritas, other than with Class 3, has the 2nd best definition.

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Standard & Met both have definitions that compete with Ameritas. But Standard is only Non-Can with an added Rider, which usually prices it above Ameritas for the same benefits. With Met, you must include the Residual Rider to have true OwnOcc.

 

[BNTRS]

Don't overlook the Principal. Very competitive pricing for own-occ coverage to certain medical specialities (especially people engaged in surgery).

 

[scagnt83]

Don't overlook the Principal. Very competitive pricing for own-occ coverage to certain medical specialities (especially people engaged in surgery).

The problem with Principle is this little clause in the Definition of Disability:

In order to be eligible for Total Disability under the rider, there must also be no reasonable job or work site modifications which would allow you to work in your occupation.

I do not consider that a true Own Occ... at least not the the same extent of the others. Guardian, Ameritas, Standard, Met do not include a clause like that.

It also does not have specialty language specifically for medical specialists like Guardian, Ameritas, & Standard do. Principle's Own Occ covers medical occupations, but the definition is much more open to interpretation with Principle.
Guardian & Ameritas have the strongest specialty language in their definition. (and Lloyds)

 

[aclaro]

No one has mentioned MassMutual. How do you see them comparing?

 

[scagnt83]

No one has mentioned MassMutual. How do you see them comparing?

Not bad. They compete on policy language for professions other than medical specialists. Their premiums tend to be a bit higher and if I remember correctly their benefit limits are lower than Guardian & Ameritas.

Mass uses the phrase "main duties" as opposed to "material & substantial". The latter is more broad, which means slightly more in the insureds favor.