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Update News For September 2013

Update News for September 2013

Here is a quick run-down on what you will find in this bulletin:

    • Simplified Issue – United of Omaha

       

       

    • Lincoln Benefit Life – Keep Quoting?

       

       

    • Life Insurance Claim Denials For Fraud

       

       

These topics will be dealt with in more detail throughout this bulletin.

Simplified Issue – United of Omaha
During September we plan to add the simplified issue products of United of Omaha back into our software. Having canvassed our subscribers for opinions and feedback, and having produced a report which you will find here:

Subscriber Feedback – Simplified Issue
we then forwarded the information to United of Omaha for their comment. We have had no further response from the company.

I was told, during August, that the company may have introduced new rates for their simplified issue term products. I would appreciate anyone advising if that is or is not the case. I had received copies of the rates in June, and so if there is nothing newer than that, we will re-introduce the products using those rates.

Lincoln Benefit Life – Keep Quoting?
I received information that Allstate agents are continuing to sell the products of Lincoln Benefit Life Insurance, even though the company is no longer accepting new business from brokers.

Allstate recently sold Lincoln Benefit. Here is more information about that:

Lincoln Benefit Life deal still needs regulators’ OK

Can anyone provide us with documentation (from the company) that shows Allstate agents are still selling Lincoln Benefit?

We are also being told that the rates for the Lincoln Benefit products changed in mid-August. We would appreciate getting any company based information that would elaborate on those issues. Needless to say, if those rates have changed, we need those rates and do not have them. We are also wondering if the rates for Allstate of NY have changed, as we are still quoting those rates in our system.

Life Insurance Claim Denials For Fraud
As we promised last month, we have prepared a report on Life Insurance Claim Denials For Fraud which you will find here:

Subscribers Feedback – Claim Denials

The report contains the comments and feedback from subscribers, and my own comments. Further, we have added some additional links and information to the report.

I will continue to update that report as additional comments or information is received. If you have something to add, we’d like to hear from you.

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