PUA rider?

[scagnt83]

I've been using ACE since last fall.

This is correct. I should have been more specific. It has been out for a while. But now, if Im not mistaken, you are required to use ACE for all new business. Or maybe there is just no table shave now and you can still send in paper apps?

 

[scagnt83]

Just had a case approved in 2 days, client got pref plus....not decided he doesn't want it. LOL

LOL. Figures. We have all lost one or two because of slow underwriting. But that just hurts when a case gets issued that quickly!

 

[scagnt83]

How does the credit system work? I haven't paid much attn to that.

I cant say for sure on the specifics. Basically, the UW process looks at certain "healthy" factors a person exhibits, and it helps to offset the unhealthy issues. Like if you have been a lifelong non-smoker and are a healthy weight, it could give you credit enough to offset something like mild diabetes. IF there are enough healthy factors, then it can "shave" the decision up a notch or two. But there is no guarantee.

More and more carriers are using the Credit System vs. a true Table Shave. It gives the Underwriter more discretion. And it saves the carrier money since it is not as liberal of a UW program.

From what I understand, the ACE system takes into account healthy factors and gives credits in the process. But it is not a set charted out thing that we can see that x=y. Midland does a similar thing with their Table Shave Program and their ExpressApp system.

 

[scagnt83]

Even if they went down, their reduced rate would likely still be higher than many others are currently.

That is my thinking right now as well. Even if there is a decrease, they will still likely be at or near the top. And an agent would be a fool not to tell a client to expect dividends to fluctuate over time. So it should not be an issue unless its a huge reduction.

 

[Lloyds of Lubbock]

So low interest rates have hurt every company...but Penn Mutual?
They have maintained their dividend interest rate yet lost a lawsuit for not paying dividends.
Take a look at their Vital Signs...half their dividend payout came from a tax refund, their earnings do not support their dividends.
The interest rate is only one component of a dividend.
Not saying they are bad, but just dont sell the illustration.