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. Fortis, Inc. has total assets of approximately $14 billion and in 1997, the company total revenues of $3.3 billion and net
income of $125 million.
Fortis, Inc. is part of Fortis, a worldwide group of companies active in the field of insurance, banking and investments, with assets
in excess of $175 billion.
Products & Services
Fortis ( Formerly know as TIME Insurance Co.) has introduced a new Preferred 1000 Series of health plans. This product has 4 rating tiers
. Regular nonsmoker rates have been lowered while adding two additional classes of health that allow rates to be 20% below normal non smoker rates. Smoker rates are now 88% above the least expensive medical rate.
(1/23/98) With this new product, FORTIS is will be one of the most competitive products in the market.
Underwriting
Fortis is a thorough underwriter. Health Statement and medical records is the norm, paramedic exam in rare cases. Tougher underwriting
leads to better long term pricing, but the process can be time consuming and disappointing to "reasonably" healthy people. Make sure that you have a good agent that guides you through this process. Fortis
can exclude medical conditions or increase premium to account for extra risk where other carriers might take you standard
Renewals
When you have new products and procedures, throw out the history book both good and bad. Fortis has been both in the past. Renewal
rates have been better than the current industry average. Estimated industry average carrier increases in 1999 will have a median range from 11-16%. This is higher than 1998 by 4-5%. .
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