Ritter Insurance Marketing, Craig Ritter

Understanding use of Rate Classes when using Great American Companies Single app

As I noted in a former post, the Great American Companies (Loyal American, United Teacher Associates, CRL, Continental General and Provident American) are moving to a single application for Medicare Supplement which would cover each of these companies.  Since the rate classes vary by company, Great American issued this release to explain how to tie the 3 rate classes listed on the “single app” to the rate classes the companies have in their rate filings.  Here is the release:

When using the single app, please note the rate class difference between companies. There are three rate class choices on the new single app. Loyal and UTA use distinct rating class language, while CRL, CGI and PALHIC do not use a rate class. When filling out the single app for CRL, CGI and PALHIC do not fill out that portion on the application; however, you should still answer the tobacco use question.

 

During the Phone Verification (PV) process, the applicant will be asked questions based on the script from the single application. However, some of the questions may not be on some of the individual company applications.  Applicants should answer all questions asked during the PV.  All policies will be issued based on the questions on the actual application used, and not the PV questions.

 

The chart below illustrates the translation of rate class language as it relates to each company. This will correspond to the class you will select on the single application.

 

Company      Preferred Plus     Preferred        Standard

Loyal        Preferred          Non-Tobacco      Tobacco

UTA          None               Non-Tobacco      Tobacco

CRL          None               None             None

CGI          None               None             None

PALHIC       None               None             None

 

The Preferred Plus rate class is only available with Loyal American. The current Loyal Outlines of Coverage still list the old rate class language shown above. We will update the language to the new Preferred Plus, Preferred and Standard language upon reprint.

 

The Single App is currently available in:

 

CRL: IN, KS, NC, ND, VA

 

CGI: AL, DE, IL, IN, IA, MI, NE, NM, OH, OK, RI, SD, WY

 

PALHIC: CO, IL, IA, KY, LA, MS, MO, NE, ND, OH, OK, OR, SC, SD, TX, UT, WV, WY

 

LOYAL: AZ, AR, ID, IL, IN, IA, KY, LA, MI, MS, NE, NC, OH, OK, OR, SC, TN, TX, WV

 

UTA: AL, AZ, AR, CO, CT, ID, IL, IN, IA, KS, KY, LA, ME, MD, MI, MS, MO, NE, NM, NC, ND, OH, OK, OR, SC, TN, TX, UT, VA, WV, WY

 

As a reminder, after 7/31 you must use the new singe app if it is available in your state.

 

Posted by filed under Alabama, Arizona, Arkansas, Central Reserve Life, Colorado, Connecticut, Continental General, Delaware, Great American Companies, Idaho, Illinois, Indiana, Insurance Companies, Insurance Products, Iowa, Kansas, Kentucky, Louisana, Loyal American, Maine, Maryland, Medicare Supplement, Michigan, Mississippi, Missouri, Nebraska, New Applications/Forms, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Procedures, Provident American L&H, Rhode Island, South Carolina, South Dakota, States, Tennessee, Texas, United Teacher Assoc., Utah, Virginia, West Virginia, Wyoming .


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