Nick
Columbus,#2UPDATE EX-employee responds
Fri, March 17, 2006
I'm an ex-agent for MEGA and I just wanted to set the record straight. Now, first let me say that the plans MEGA sells are limited and I can understand how the general public could be confused about their plans. One of the major reasons I quit was that I couldn't sell the products offered and feel good about it. However, it's not because I would lie about what I was selling -- or that MEGA told me to lie about what I was selling. I just knew that these plans weren't the best available product to the consumer. Let me say that MEGA does not ever call any of their plans MAJOR MEDICAL. They stress this in training and continue to stress this in weekly sales meetings. The plans of MEGA are plans designed basically for people desiring catastrophic or basic hospitalization coverage. You can add on additional benefits by buying additional riders. Danny, I empathize with your plight, but when you say "I didn't see any reason to review it because I thought my wife and I were fully covered", well that is simply maddening to me. People of America, YOU are responsible for your own well being. Not the government, not your neighbor, but YOU. Read what you sign. You already know that insurance is expensive and complicated, so when you sign up for a plan with a reduced rate, and knowing that you already had questions about your own pre-existing conditions, how could you NOT read the policy. The 10 day free look is a law designed to help you in this exact situation. I cannot speak to what your agent told you or did not tell you, but again, I can emphatically say that MEGA does tell its agents to fully disclose and explain their plans. Now I will say that I know the particular agent you reference is currently 2nd nationwide in sales for the year for MEGA, perhaps less than ethical sales are the reason. I do not know. But please accept responsibility for your own faults as well. In response to the fact that MEGA pays its agents just to turn in apps, I think it needs to be explained that yes, agents receive advances within a week of application submittal. However, if the application comes back as rejected or the policy is dropped, then the agent must pay this money back to the company. Such situations were disapproved by the company, and if an agents no takes or policy drops got too high, the company would take action against the agent.
John
Des Moines,#3UPDATE EX-employee responds
Wed, March 01, 2006
It's correct that you have 10 days to review your policy before you accept it. That's probably why the department of insurance won't do anything and also probably why Mega Life won't do anything. Everyone should know that Mega Life pays their agents just for turning in applications. Most insurance companies only pay agents after the application is approved and accepted. But Mega pays an immediate advance to that agent just days after an application is submitted. That creates a breeding ground for agents who might be behind on bills to simply submit as many applications as they can. If your situation that agent clearly knew that Mega does not accept diabetics. At at point she'd either have to leave the appointment with no check or sell you a non-underwritten product - like an accident only policy in order for her to check a check. You might not have a remedy from the department of insurance but I'd look into hiring an attorney and sueing the agent directly.