65M-Neuropathy Feet-LTC And/or Alternative Plan Ideas?

[Arthur Rudnick]

Originally posted by CALTCagent

How do you do this without an LTC application?
I have been told the underwriters will only look at a case with an completed application.

You're not ready to submit a completed application yet. I would pull a copy of a HIPPA Form from the app, for whatever carrier you'd like to submit.

Have your prospect sign the form and have medical records sent to the prospect , OR, easier still would be to ask your prospect to contact their PCP or specialist and have the doctor's office give him a copy of the past 3 years of records.

A patient is legally entitled to receive a copy of their medical records at no charge.

Forward those records to the company underwriter and explain that you're doing a pre-qualification and would like advice on whether or not to submit.

Explain to the prospect that before you submit an application, the last thing you want to do is waste their time for 6-8 weeks and get a possible decline.

If the prospect doesn't comply, I'd move on and not submit.

 

[FindaWay]

Originally posted by CALTCagent



You're not ready to submit a completed application yet. I would pull a copy of a HIPPA Form from the app, for whatever carrier you'd like to submit.

Have your prospect sign the form and have medical records sent to the prospect , OR, easier still would be to ask your prospect to contact their PCP or specialist and have the doctor's office give him a copy of the past 3 years of records.

A patient is legally entitled to receive a copy of their medical records at no charge.

Forward those records to the company underwriter and explain that you're doing a pre-qualification and would like advice on whether or not to submit.

Explain to the prospect that before you submit an application, the last thing you want to do is waste their time for 6-8 weeks and get a possible decline.

If the prospect doesn't comply, I'd move on and not submit.

I respectfully disagree. Why would you put yourself, the client and the insurance company through all of that without an application? If your prospect KNOWS they want LTCi, you do a thorough prescreening, pre qual with the UW and IF they say ok to submit, then it's our job as agents to submit. The longer you hold off applying, the longer you are leaving your client unprotected. Makes no sense. What if your client had a stroke or even just pulled his back out shoveling snow while you were sidestepping the process... And, you could go through all of that and still get declined. Maybe something would pop up on on the prescription drug pull...

 

[Arthur Rudnick]

originally posted by findaway

I respectfully disagree. Why would you put yourself, the client and the
insurance company through all of that without an application? If your prospect KNOWS they want LTCi, you do a thorough prescreening, pre qual with the UW and IF they say ok to submit, then it's our job as agents to submit. The longer you hold off applying, the longer you are leaving your client unprotected. Makes no sense. What if your client had a
stroke or even just pulled his back out shoveling snow while you were sidestepping the process... And, you could go through all of that and still get declined. Maybe something would pop up on on the prescription drug pull...

To each his own.
I personally will not submit an application unless I have reasonable belief that the applicant is insurable.

In any scenario, in this situation his medical records are going to be reviewed. A patient can usually get a copy of his records in a couple of days. The carrier usually takes weeks to get them. If the applicant gets his records, it could be sent to the underwriter immediately for a pre-qualification. That process takes only a week.

As explained with this applicant, on the surface, IMO he does not appear insurable.

 

[CALTCAgent]

I respectfully disagree. Why would you put yourself, the client and the insurance company through all of that without an application?

Because it could save everybody time, effort, energy in the long run.

I'm sure the insurance company would rather look at an acceptable risk than a decline, saves them money.

If your prospect KNOWS they want LTCi, you do a thorough prescreening, pre qual with the UW and IF they say ok to submit, then it's our job as agents to submit. The longer you hold off applying, the longer you are leaving your client unprotected. Makes no sense.

"OK to submit" doesn't mean you should. There is more to it than that. Getting your client a decline because you didn't take the extra step is not my idea of helping.

Takes 2 to 3 months for the decline. You may have found a better fit before that time. Thats not protecting the client.

What if your client had a stroke or even just pulled his back out shoveling snow while you were sidestepping the process...

What if you didn't pre-screen well enough and chose the wrong plan, you really side stepped getting client protected.

And, you could go through all of that and still get declined. Maybe something would pop up on on the prescription drug pull...

That is always the chance you take. The more you know the better. I just find it hard for them to get their own medical records and then get it to me, who then may need someone to interpret. I don't have a good system in place for that.

 

[Stephen]

I would prefer to be informally declined vs. having a decline show up on my MIB for future insurance applications.

I respectfully disagree. Why would you put yourself, the client and the insurance company through all of that without an application? If your prospect KNOWS they want LTCi, you do a thorough prescreening, pre qual with the UW and IF they say ok to submit, then it's our job as agents to submit. The longer you hold off applying, the longer you are leaving your client unprotected. Makes no sense. What if your client had a stroke or even just pulled his back out shoveling snow while you were sidestepping the process... And, you could go through all of that and still get declined. Maybe something would pop up on on the prescription drug pull...