I am an Independent Insurance Agent in South Carolina. I recently has an appointment with a very nice couple in York County. They knew exactly what they wanted covered on their policy, catastrophic only. I gave them the best option I had which was pricing out in the $500 range. They were both in their 50's and tobacco users. It was a true Catastrophic policy.
The customer then proceeded to pull out a quote sheet left by a Health Markets Agent. It also was around $500.00. But, it was NOT Catastrophic coverage. It clearly had a surgical expense benefit of $10,000. And a Hospital Benefit of $25,000. The Health Markets Agent was out of their Charlotte office and told the customers there was a way to save them monies. He had listed them both as NON-TOBACCO users, which dramatically lowered their rate. (I wonder if Health Market Agents know that a company will not pay a claim if the information on the application is fradulant.)
The quote was loaded with all the Companies extras...Ancillary products, such as $10,000 of Critical Care, additional Accidental coverage, as well as vision and Dental. All profit making products designed to make the Company and Agent money. But yet the Hospital would only be paid up to $25,000 per OCCURANCE..and subject to a DEDUCTIBLE PER OCCURANCE as well.
The Health Markets Agent, if effort to not reveal this to the customer, did not leave any Company Brochure.
The Health Market Agent did not reveal this coverage to the customer, who would buy a $25,000 policy per occurance for $500 a month? NO ONE!!! On top of the fact he let the customer know he was helping them as to be listed as a Non Tobacco user!
I can only hope that Health Markets does not see this as yet another RE-TRAINING opportunity! You cannot retrain Honesty and Integrity!
Here is the clincher....The customer then proceeded to tell me the Health Markets Agent was also a Minister!
York, South Carolina