- 16,924
Who would they be? I've never experienced anything like that.
They are all equal.
Who Likes Oxford or Forethought Med Supps
- Thread starter thomasm
- Start date
Who would they be? I've never experienced anything like that.
They are all equal.
Try UT and CO for ANY where.
- 323
Cool. Thanks!.........
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Like I said, it was a few years back.
I guess it's not an issue any more.
I know they pulled their FE product shortly after being bought out by Global Atlantic. I would think the Medsup is next on the list. It's been out quite awhile and has to be losing steam.
I'll call it a logical speculation
- 15,319
- 323
I'm old, Rick. That was three years ago.
I couldn't remember. Maybe I'm remembering something that didn't happen...?
- 147
Oxford has very competitive T65 rates in many states... And in most states they are offering Med Supps, their rates are within a few dollars of the best if not THE best ages 65-79...
Oxford's underwriting has it's niches and is competitive is most situations. Biggest stand-out is that they underwrite medications on a case by case basis and in addition to this pay full commission on guarantee issue applications (outside of T65 unlike many other carriers). As previously mentioned, Oxford require as POS interview, but gives decisions at conclusion in most cases giving you and your clients resolution on most underwriting decisions.
Oxford being an 'A-' rated carrier and offering 20% 'street' contracts, coupled with the fact that their Medicare Supplements are actuarially designed soundly for 2 year run rates, Oxford has been and will continue to be a great company for agents to work with in states where available.
For Your Reference:
Oxford Life MS Underwriting Guide
- 15,319
They might be the greatest thing since sliced bread but I have an issue.
Years ago I was talked into contracting and wrote ONE FE policy. My contract was cancelled for non-production probably 3-5 years ago.
They did not have a med sup offering then. But now that they have something that might be of value to me they want to charge me $100 to re-contract.
I don't pay companies to work with them. So alas, they'll not be getting anything from me until they decide to want me more than I want them.
Rick
- 147
We HATE the $100 re-contracting fee! Drives us crazy!
To add some clarification:
Technically the $100 re-contracting fee is only if you are attempting to re-contract with a new IMO/FMO. If you were to choose to get your contract up and running again under your previous hierarchy there should not be any re-contracting fee. Additionally after you do 5 applications, you are refunded the $100. This is a nuisance, and something we've heavily argued with Oxford, unfortunately to no avail.
For agents looking to write Medicare Supplements and having ran into the re-contracting fee, we've worked with these agents and helped by picking up the $100 fee. If it's something that any agents have been hung up on, feel free to contact us and we'd be happy to discuss helping agents get back up and running!
- 15,319
I found out that they waive the $100 but why is it that can't be told to the agent initially.
I lost my contract in 2009 mainly because I don't write FE. Never cared if I got it back or not. But I might need them for supplements in certain situations - like guaranteed issue.
So I called my old upline who I keep in touch with anyway and recontracted. But the entire situation causes me to think of Oxford as a penny pinching second tier carrier.
It's not good to start off a new relationship with a company without a good feeling for them.
Rick
