Sigh: Some folks just don't 'get it'
So, working with a customer who needs a short term medical plan for his wife, who is an American citizen living abroad. I was able to find only one carrier that didn't require a recent stateside residence, and so I quoted that carrier. As always, I quoted using the maximum lifetime benefit (in this case, $1 million). The client asked about $1,000 and $2,000 deductibles (which I think is a mistake, but that's what he asked for).
So I quoted as he asked, and the premium came out to $325 per month for the $1,000 deductible plan, and $256 a month for the $2,000 version.
He balked at that, claiming that I'd previously quoted a much lower rate. I pointed out that we had been looking at a $5,000 deductible (which would have been well under $200 a month). He thought that still might be spendy, and he would check with his home country's options. I wished him well and told him that I'd be happy to write this plan if the home country option didn't pan out.
This morning, I get this in email:
"This quote sounds good to me.
What if I take insurance for 250 G instead of million and keep deductible to 1000 or so?
This [home country plan] is world wide known. May be you can also use them check it out.
The currency conversion is Rs 70 to a dollar, so the premium is about $150 for 3 month.
Please let me know your thoughts."
[ed: it was unclear if that was $150 a month for 3 months, or $150 one-time premium]
This is becoming tiresome (we make very little on Short Term plans, and he's quickly using up the commission)(and my patience).
I replied:
"Great!
No, I can�t sell for non-USA companies.
>> $250 G
No, I can�t do that: I will only sell the maximum benefit (for a number of reasons: E&O liability chief among them, also you really don�t save all that much lowering the maximum vs raising the deductible)."
We'll see what he does.
Not really on tenterhooks here.
By the way: there's another very good reason to not skimp on that policy max: insurance is, essentially a gamble (yeah, yeah, I know) and it's a lot easier to come up with an extra three or four thousand dollars than 10's or 100's of thousands.
So I quoted as he asked, and the premium came out to $325 per month for the $1,000 deductible plan, and $256 a month for the $2,000 version.
He balked at that, claiming that I'd previously quoted a much lower rate. I pointed out that we had been looking at a $5,000 deductible (which would have been well under $200 a month). He thought that still might be spendy, and he would check with his home country's options. I wished him well and told him that I'd be happy to write this plan if the home country option didn't pan out.
This morning, I get this in email:
"This quote sounds good to me.
What if I take insurance for 250 G instead of million and keep deductible to 1000 or so?
This [home country plan] is world wide known. May be you can also use them check it out.
The currency conversion is Rs 70 to a dollar, so the premium is about $150 for 3 month.
Please let me know your thoughts."
[ed: it was unclear if that was $150 a month for 3 months, or $150 one-time premium]
This is becoming tiresome (we make very little on Short Term plans, and he's quickly using up the commission)(and my patience).
I replied:
"Great!
No, I can�t sell for non-USA companies.
>> $250 G
No, I can�t do that: I will only sell the maximum benefit (for a number of reasons: E&O liability chief among them, also you really don�t save all that much lowering the maximum vs raising the deductible)."
We'll see what he does.
Not really on tenterhooks here.
By the way: there's another very good reason to not skimp on that policy max: insurance is, essentially a gamble (yeah, yeah, I know) and it's a lot easier to come up with an extra three or four thousand dollars than 10's or 100's of thousands.
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