Underwriting with Andrea #5

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, 20 years old, non-smoker. This applicant was in need of Life Insurance for business purposes but was declined due to a diagnosis of Grand Mal /Tonic Clonic Seizures 10 years ago. For the first 4 years, while in his early teens, he had a variety of seizures, 0-2 per day. In 2011 the client stopped having daily seizures with no explanation and in 2013 he had his last seizure when he started taking Topiramate. The APS has this noted as Generalized Epilepsy. The client sees his Doctor annually and all has been favorable since 2013.

The Resolution
The majority of our carriers were in the table 2-4 range; some went as high as table 6 due to the client’s young age. However, one carrier among the many I reached out to, came in at Standard, and that was without using any type of table shave program! Of course, all of these offers were subject to an APS and full review of Neurology records, but it just goes to show what a difference shopping these cases can make!

Underwriting with Andrea #4

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.

 
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!

Taxes Are On Sale! Three Ways to Take Advantage

The Tax Cuts and Jobs Act of 2017 lowered Federal income tax rates for most Americans. Even though these rates are historically low, how long will they last? Deficits have increased under the current Congress and the National Debt continues out of control. The Tax Cuts and Jobs Act only made the problem worse. A future Congress will need to raise taxes at some point to address the issue. In fact, the current Congress actually built a tax increase into the new law! These tax cuts for individuals expire in 2027.

What does that mean for you and your clients? You have a short window of opportunity to help them take advantage of today’s low rates. In this quick video, I explain how TAX-FREE income from Index Universal Life can help three different types of clients. We will explore how you can help young professionals, pre-retirees and established retirees take advantage of today’s historically low Federal income tax rates.