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Medicare Blog | Medicare News | Medicare Information

Foresters Opportunity: Meet your clients by phone or video

Posted by www.psmbrokerage.com Admin on Thu, Mar 19, 2020 @ 03:46 PM

Tags: Foresters

Get to know the New PlanRight from Foresters

Posted by www.psmbrokerage.com Admin on Thu, Dec 05, 2019 @ 02:32 PM

Effective date December 8, 2019
 
Foresters Financial Log on to ezbiz
Get to know the new PlanRight. Download the Product Guide.
Effective December 8, 2019, Foresters Financial™ is introducing a brand new PlanRight! It’s fast, flexible protection that’s been enhanced to help meet the needs of your clients.
 
    New Branded Plans  
 
 
 
Level, Graded, and Modified are now Preferred, Standard, and Basic
 
New minimum face amount of $5,000 on all plans
 
A death benefit amount, based on 100% of the face amount, from day one on our newly branded Standard plan
 
 
    Simplified Application and Shorter PHI  
 
 
 
Streamlined health questions improving application flow
 
Easier to qualify for Standard and Preferred plans
 
Shortened PHI providing instant medical eligibility over the phone. And now 5 minutes faster!
 
 
    New Riders & Competitive Rates  
 
 
 
Family Health Benefit Rider available on all plans
 
Accelerated Death Benefit Rider for Terminal Illness on select plans¹
 
Same rates on the Preferred Plan and lower rates for select non-tobacco users²
 
 
Watch for more info coming soon to your inbox! Be sure to get the PlanRight US General application below or log in to ezbiz to get state-specific applications and to order your new PlanRight materials.
 
Download the U.S. General Application
Be prepared. Call PSM today for more details
 
800-998-7715
 
Not appointed with Foresters? Click Here

Foresters products and their riders may not be available or approved in all states and are subject to underwriting approval, limitations, contract terms and conditions, and state variations. Refer to the applicable Foresters Product Guide and the insurance contract for your state for these terms and conditions. Products underwritten by The Independent Order of Foresters.

1 Family Health Benefit rider is available on all plans, while Accelerated Death Benefit rider for Terminal Illness is only available on Standard and Preferred Plans.

2 Reduced rates are applicable only to male non-tobacco users, ages 65-70 and female non-tobacco users, ages 64-70.

For Producer use only. Not for use with the public. 418212 US 12/19

 

Tags: Final Expense, Whole Life, Foresters

Withdrawal of PlanRight Voice Signature Telesales

Posted by www.psmbrokerage.com Admin on Mon, Nov 05, 2018 @ 08:23 AM

Withdrawal of PlanRight Voice Signature Telesales

ForestersFinancial_Logo_No_Border

Over the past number of years Foresters has worked to ensure that PlanRight remains a sustainable product for the final expense market. Unfortunately PlanRight sold through the Voice Signature process (VSOP) has continued to see high levels of non-disclosure and higher than expected claims, causing a negative impact on PlanRight as a whole.

Foresters recognizes that for many of you, VSOP is a key part of your portfolio. And while we remain committed to PlanRight as a product, we have made the difficult decision to withdraw the VSOP telesales option from sale effective November 30th, 2018.

You can continue to sell PlanRight through VSOP up until November 30th. All VSOP personal health interviews (PHIs) must also be completed by November 30th. As of December 1st, the “PlanRight Voice Auth Final Expense” product will no longer be a product option on Apptical’s LiveApp website. Any incomplete or pending applications will also be deleted from LiveApp.

PlanRight can continue to be sold through the traditional face-to-face sales process. Foresters Financial™ is committed to the final expense market; we’re excited to be making updates to PlanRight in 2019, and continuing our partnership with you.

Questions?
If you have questions regarding PlanRight Voice Signature please contact the Sales Desk at 1‑866‑466‑7166 option 1. If you have questions about the status of a submitted application, please contact the Service Center at 1‑866‑466‑7166 option 2

Additional Updates:
 

Tags: Final Expense, Whole Life, Foresters

Under-Age Agents Affected by Health Care Reform

Posted by Lauren Hidalgo on Fri, Jan 14, 2011 @ 09:32 AM

Medicare SupplementsAs part of the new health care reform law that went into effect January 1st, a Medical Loss Ratio (MLR) was instituted stating insurance companies must spend at least 80% of premiums on medical expenses in the under-age market, with the remaining 20% being shared with administrative costs. These new health reform rules will cut insurance brokers’ pay by 50% in some cases, effecting nearly 470,000 under-age market agents. Reports show commissions will drop from 15 to 20% on plans to 4 to 10%; and, for Blue Cross which used to pay 15% on the first year and 7% on residuals the following years will now pay 5% for both. Meanwhile, Golden Rule, owned by UnitedHealthCare is offering their brokers a per application bonus, understanding the cuts in commissions. By 2014, even without the MLR regulations, consumers will be able to find and obtain health insurance plans easily on their own. Under new health care regulations insurance agents, negotiating rates for those with pre-existing conditions, will be unnecessary. Health insurance companies will no longer be able to deny coverage based on conditions; therefore, making under-age insurance agent less and less vital for sales. Also in 2014, almost 32 million Americans will have insurance under the health care laws and MLR will negatively impact the way the public uses health care, with potential job loss due to lower commissions at a time when consumers need the most help because of all the changes. Critics argue smaller companies may go out of business, agents will see more cuts in compensation, and there will be reduced service quality to the consumer. Supporters say that industries are always changing and compare the change in the insurance industry to that of travel agents. Even though a lot of people buy their travel arrangements unassisted online there is still need for a travel agent. Now under-age insurance agents will just have to find their niche in the new insurance environment.

If you also work in the under-age market, have these lower commissions already affected you? Do you believe the result of MLR will be a drastic decline in service or do you think things will level off quickly, like with the travel industry?

Low Clearance by Mike Keefe

Low Clear by Mike Keefe for Denver Post
By Mike Keefe for The Denver Post, 01/06/11

With the Baby Boomer generation turning 65 this year and nearly 10,000 American’s a day qualifying for Medicare benefits- now is a great time to be a senior market agent selling Medicare Supplements.

Has the influx of Boomers helped your Medicare Supplement business? How are you preparing for the boost in those interested in Medicare Supplements?

Medicare "Wellness Visit" Check List

As of the first of 2011 Medicare beneficiaries are able to go to one “wellness visit” a year completely covered by Medicare. This new part of the health care law reflects that medicine needs to focus on prevention rather than waiting until the patient is sick. Dr. Eddie Phillips, director of the Institute of Lifestyle Medicine at Spaulding Rehabilitation Hospital, has outlined what patients can expect at their wellness visit this year. First, the doctor will conduct a screening of a patient’s cognitive skills, depression, and risk of falling. They will develop a Personalized Prevention Plan talking about your diet, exercise, vaccinations, sleep, and stress; and, work to coordinate all of you caregivers. Also, you can choose to have a voluntary discussion of your end-of-life choices, getting a plan in place and having your wishes known. Dr. Phillips hopes this wellness visit will help people make lifestyle choices that will positively affect their health and health care costs.

What do you think of the new “wellness visit” provided by Medicare? Have either you or one of your clients partaken of yours this year? Was it a valuable benefit?

Foresters Prepared Accident Death Term Life Insurance

Foresters Prepared offers up to $300,000 in coverage with no medical exam and only a few health/lifestyle questions. It also offers extra-cost riders for disability income (accident only), waiver of premium (accident only) and return of premium. Contact PSM or call us 1-800-998-7715 to request information.

Woodmen of the World/Assured Life MADP Guidelines and Iowa Rate Increase Notification

New Medicare Advantage Disenrollment Period (MADP): MA members are allowed to make one change during this period of January 1, 2011 to February 14, 2011 with an effective date of disenrollment after January 1, 2011.

Effective March 1, 2011 please see the rate increase notification for Iowa.

 

Sources: KHN, Politico, The Denver Post, CommonHealth

Tags: Foresters, Medicare Supplement, Senior Market, senior insurance market news, health insurance industry, insurance news, Woodmen of the World Medicare Supplement, Medicare Advice

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