Underwriting with Andrea #5
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Declines got you down?
Underwriting is both an Art and a Science. Here at Financial Brokerage we know that the clients you protect have their own unique histories that often present Underwriting challenges. With so many options available, knowing where to start can be daunting. Let us help you choose the right carrier the first time. Stop Declines before they happen and contact me the next time you’ve “got a guy” that you’re not quite sure where to start with. You might just be surprised at what I’ll find… |
Today’s Challenge |
Male, 58, non-smoker, Preferred risk in all regards except that he has a previous Opioid addiction. The client is a medical professional and at high risk for relapse due to how readily available these medications can be, therefore, he is currently taking Suboxone as a preventative.
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The Resolution |
I reached out to approximately 20 different carriers with the knowledge that obtaining coverage would not be an easy task. In the past, we’ve seen instant declines for continued Suboxone use regardless of the situation, duration of use, etc. and up until this week, I’ve had no success in finding coverage with any of our carriers. However, after much research, I was able to find one carrier that is now willing to consider under the conditions that the client has been abstaining from any kind of Opioid for at least 3 years and is taking a low dose of Suboxone, only. I was also able to find a second carrier that indicated Table 4 to 6 may be possible depending upon the case history. Never say never, Underwriting guidelines change every day!
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Declines got you down?
Underwriting is both an Art and a Science. Here at Financial Brokerage we know that the clients you protect have their own unique histories that often present Underwriting challenges. With so many options available, knowing where to start can be daunting. Let us help you choose the right carrier the first time. Stop Declines before they happen and contact me the next time you’ve “got a guy” that you’re not quite sure where to start with. You might just be surprised at what I’ll find… |
Today’s Challenge |
Foreign National, here on an F1 Student Visa from India.
The Proposed Insured is also married to a U.S. Citizen and has a job offer in the U.S. making over 65K per year upon graduation.
Looking for term or perm coverage to cover final expenses, student loans and to provide for his surviving spouse.
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The Resolution |
The majority of carriers indicated that this would be a decline due to the noted Visa type and the fact that he is married to a U.S. Citizen is a moot point. However, after reaching out to each of our carriers I was able to find one carrier that was willing to consider this risk! While there were stipulations such as the proposed insured being required to have a Social Security number or a tax ID , that one carrier was willing to consider him at a table 2 when no one else would consider him at all. Another win for the Independent Agent!
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| Medicare Supplement |
New Medicare Supplement Plan – KY |
Effective March 30, 2018, you may begin selling our new competitively priced Medicare supplement in Kentucky underwritten by United World Life Insurance Company, an affiliate of Mutual of Omaha. |
Broker Bonus Program |
You can make even more bucks on your Medicare supplement and SELECT underwritten business through our 2nd and 3rd quarter Broker Bonus Program. Bonus Program period is from April 1, 2018 to September 30, 2018. |
Upcoming Rate Adjustments |
Please review the upcoming rate adjustments in CA. |
| Life Insurance |
Sweet New Rates Coming on Life Protection Advantage IUL |
Learn more about the changes to Life Protection Advantage IUL’s guarantee-to-85 premiums that are coming on April 1, 2018. |
Coming Soon: Accelerated Underwriting for TLA |
We are excited to announce our new Accelerated Underwriting program for Term Life Answers. Learn how you can get an underwriting decision for your clients in 48-72 hours. |
| Long-Term Care |
Rate Adjustments Effective June 1, 2018 |
We will be implementing a long-term care rate adjustment on the following blocks of business in GA, OH, PA, OR and NC. Also, please note the tools available to help you provide information. |
| Disability |
Priority Income Protection® Underwriting Guide Updates |
A new PIP underwriting guide is now available. Please note the following updates to the guide. |
| Critical Illness |
New Critical Advantage Needs Flyer |
This flyer can help you show clients the need for Critical Advantage portfolio products. |
| Annuities |
April 2018 Annuity Interest Rates |
Annuity interest rates will be increasing for April 2018. |