Old Surety

[Fisher]

So I was dinking around on Medicare.gov looking at med supp rates and Old Surety was killing every other company's Plan F. (They only offer A and F in Missouri.) Went to their website - Life,Medicare Supplements,Dental, Vision and Hearing Insurance - Old Surety Life Insurance Company, Oklahoma City, OK - and it is hokey beyond compare. Checked 'em on A.M. Best and they are not even rated.

Anyone know the skinny on this outfit? I emailed them yesterday but haven't heard squat. Always a good sign... (I don't see an eyeroll smiley.)

 

[KimPMG]

I have nothing, but I did go and look on their site. With the lion it almost looks like they are trying to cop a bit of Wild Kingdom from Mutual. I sent an email too. Let you know if I get anything.
- - - - - - - - - - - - - - - - - -
Ok, so I called and they told me that they do not hire recruiters, just a very limited number of direct agents. They are trying to limit the flow of business. I guess it is good for the agent because he can go direct, but for me it is a little worrisome that they need to limit the business.

 

[G.Gordon]

We have been writing for them for less than six months.

Can't say I'm thrilled with them. They only want healthy clients and will cancel your appointment if you send GI sick clients their way.

For MO I think you have to go through a guy in St. Joseph to get a contract. Nice enough fella and he will go to bat for you if you need it.

We don't use them that much.

The rate you see on DOI is wrong. 6/1/11 they just went up 12%. Still the cheapest plan F for most of MO and that is really true in the metro zones.

Pretty much we don't even consider them if a person is GI or OE... PERIOD! Just to be fair. We only quote OldSurety on cases where underwriting is in play no matter what. For example; a client that is on plan F with a 2/1/09 anniversary. If he was in front of me today he is not GI so I could/would talk to him about OS. T65'rs... I don't even bring OS up.

 

[Frank Stastny]

I just called them, interesting.

When I called I was put on hold had to wait for the operator to answer, once I was able to speak to her I asked for information about their Med Supps and she transferred me when I had to wait again. Then Dwight answered the phone and I once again told him who I was and that I wanted information about Med Supps.

He asked me to hold, when he came back on the line he said he would have to give me Doug's voice mail. I said I am on a tight schedule today and asked if I can I get the information now and he said no, I have to talk to Doug.

It will be interesting to find out how long it takes Doug to call me back.

 

[lucasr]

Can't say I'm thrilled with them. They only want healthy clients and will cancel your appointment if you send GI sick clients their way.

Is that even legal (canceling appointment for sending GI apps)??

 

[HarryRenard]

Is that even legal (canceling appointment for sending GI apps)??

Yep......................

 

[jacobtn]

wonder what the DOI would think about them canceling agents appointment for sending GIs and OE apps their way. Sounds like a load of BS to me. Why not just do like PALIC and pay a $25 one time fee for GI biz? It would accomplish the same thing

 

[Millwood]

They will terminate your contract and yank commissions if you every replace the business. An agent I work with had it happen for one policy he rolled. GA went to bat and Old Surety yanked the GA's contract as well.

 

[somarco]

cancel your appointment if you send GI sick clients their way.

They will terminate your contract and yank commissions if you every replace the business. An agent I work with had it happen for one policy he rolled.

Sounds like a fine, upstanding carrier . . .
- - - - - - - - - - - - - - - - - -
Of course if they only take healthy folks you can move them and leave the sick ones behind.

 

[Millwood]

Couldn't reply to PM did't have enough posts yet.
It was 8 years or so when Old Surety yanked contracts and commisions for replacing business. Our agency just had the agents replace every piece of business on the books. Problem solved.
Old Surety is run alot like Continental Life of Brentwood was in the early days when Baskin started it. Very protective of any business on the books. Its a very small operation they have bought small blocks of business when companies belly up here and there.
They are very customer oriented. They will jump through hoops if a customer calls in, but you just need to know how they operate or you'll be unpleasantly surprised.