81 year old declined from "get up and go"

[breakfaststout]

I submitted an application on an 81 year old man about two months ago. Unfortunately due to the amount of insurance being requested, and his age, I had to go 'fully underwritten' and subject this poor man to an exam. There was a note on the exam that indicated it took him 34 seconds to complete the "get up and go" section of the exam which is 'record observations and time it takes to rise from a straight back chair, walk 10 feet, turn, walk back to the chair and sit down'. Anything over 15 seconds is frowned upon. The man does not use a walker, wheelchair, scooter..he still drives. The insurance company proceeded to order 3 sets of medical records. Now i find out the case was declined due to the 'get up and go' test. Livid. Why waste TWO months of my time if you were gonna turn around and decline based off the exam!?

do you guys have any recommendations of a company that would accept my client based on the above? No serious health issues. non smoker, doesn't drink. looking for at least 100-150k. I hate that his MIB is now ruined.UGH!

thanks for your feedback.

Jennifer

 

[TampaHound]

Have you tried looking into a Single Premium type of product? Or an annuity?

 

[TampaHound]

Have you tried looking into a Single Premium type of product? Or an annuity?

I have to edit this. A Single Premium probably won't work for the amount of coverage he's looking for. He's close to that now...so it's doubtful it be a good product for him. Plus, the health stuff comes back into play.

If he has any old CD's or pensions or annuities, see about converting them over to your company. Plus a lot of annuities may have a LTC option built in. Which he doesn't need now but might in a year or five.

 

[DHK]

Now i find out the case was declined due to the 'get up and go' test. Livid. Why waste TWO months of my time if you were gonna turn around and decline based off the exam!?

I think that's the question the insurance company underwriters wanted to ask you.

I would recommend that he go see a physical therapist to improve his 'get up and go'. He'll have a better quality of life AND you may get your case re-evaluated.

My father has had severe sciatica pain for a long time - well, about 2 years now. He FINALLY saw a doctor about it about two weeks ago. Recommended that he go to a physical therapist. Asked when he could be more mobile, and the doctor said "probably about two weeks of therapy." He's had one PT session already and he's doing better. I can't wait to see what happens when he completes all his sessions.

 

[breakfaststout]

He's fine. He does not use a cane, walker, wheelchair etc. Still drives. The insurance company didn't wanna take the risk on an 81 year old, period. They shouldn't have products for people in their 80's if they can't qualify. Bait and switch. Yes, the UW shouldn't have wasted my time ordering 3 sets of records including his derm. just digging and digging looking for something because they couldn't decline him based off the exam alone...until they could (the underwriter had to get "advice" from his boss on how to proceed..wanted to order a 4th set of records!).

Good for your dad and his progress, however, I don't think it is necessary I suggest my client go to physical therapy when in 3 sets of medical records, there were no concerns with his gait. Looking at other options at this point..

 

[lifeismylife76]

If he can afford the premiums for that much insurance at his age, you could sell him several Whole Life, Simplified Issue policies. Every carrier has a Maximum amount but that’s what I’d do. $30,000 with Oxford
$25,000 with RNA, so on and so on. Max out his budget and get him what he can afford not what he wants.

 

[somarco]

Breakfast, how long have you been in the life insurance business as an agent?

What is your target market?

 

[VolAgent]

He's fine. He does not use a cane, walker, wheelchair etc. Still drives. The insurance company didn't wanna take the risk on an 81 year old, period. They shouldn't have products for people in their 80's if they can't qualify. Bait and switch. Yes, the UW shouldn't have wasted my time ordering 3 sets of records including his derm. just digging and digging looking for something because they couldn't decline him based off the exam alone...until they could (the underwriter had to get "advice" from his boss on how to proceed..wanted to order a 4th set of records!).

Actually, he's not. It took him over half a minute to stand up, walk 10 steps, return and sit down. Someone in that situation will rarely get out a chair now, which is going to impact health and mortality.

I'm sure the UW department feels the same way about you. My guess is they were looking for a reason to say yes, but couldn't find a medical reason as to why he had such difficulty AND wouldn't impact his insurability. It looks like the underwriter was looking for any excuse to say yes until his boss stopped him.

Your inexperience is showing. By all accounts, this company WANTED to issue the policy, they just couldn't. If you want to pursue this case, and I'm sure it is a large premium based upon age and face amount, you should contact several companies and speak with the underwriting department. Hopefully you got a copy of all the medical records? If so, you will be in a much better position to pre-screen it. And stop sugar coating his "get up and go". You aren't doing him or yourself any favors.

 

[breakfaststout]

VolAgent- ever heard of a crappy examiner? If there were no mobility issues in any of the 3 sets of records, I doubt it is a concern. You can't tell my the insurance company would be happy about writing a rather large case on an 81 one year, come on man! oh and get over yourself just a tad..

 

[VolAgent]

VolAgent- ever heard of a crappy examiner? If there were no mobility issues in any of the 3 sets of records, I doubt it is a concern. You can't tell my the insurance company would be happy about writing a rather large case on an 81 one year, come on man! oh and get over yourself just a tad..

They get another exam done. But you are trying to blame the wrong people here.

And yes, I can tell you that not only would a company be happy about it, this company would have been happy about it.

Underwriting does not keep ordering records when they already have a reason to decline unless they want to issue or are a complete ***. If so, that means the examiner and the underwriter are both incompetent, not buying it.