Appealing Rate Classes

Aug 25, 2015

  1. Mrboone2
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    Mrboone2 Expert

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    Suppose an applicant got approved at "Standard" because of erroneous medical information - like getting Rx'd a mental health medication he never obtained 3 years ago. Is there a way with any carrier - Banner, AIG, et.al, to appeal that with new information, or is it just easier to apply to a different carrier?
     
    Mrboone2, Aug 25, 2015
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  2. NinjaNic
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    Can certainly appeal, with additional info for the underwriter. You would need a signed letter on his Doctor's letterhead stating meds prescribed were never taken but that the Dr feels OK about that because X...
     
    NinjaNic, Aug 25, 2015
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  3. WinoBlues
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    WinoBlues Guru

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    What Nic said. Some Docs can get a bit touchy about errors in medical records. Mental issue can be pretty subjective as well. I had a client's wife email Kaiser that the doctor should check his memory at his up coming exam. More of a joke. That email got him a decline. After getting that corrected he was issued P+.

    That email would have an issue with any company we sent him to. It was better to just deal with it.
     
  4. Mrboone2
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    So lets say someone got Table D recently for EKG results from years ago. Could he have a current EKG along with a MD note and possibly get a better offer now, or would he have to wait a year?
     
    Mrboone2, Aug 25, 2015
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  5. Cash
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    An EKG result is pretty concrete. What makes it misleading?

    Also, you can try and shop it after Christmas before New Years when carriers are hungry for business.
     
    Cash, Aug 25, 2015
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  6. WinoBlues
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    Kinda depends on how long ago and if it was an odd result compared to other results. If his current are better I would definitely shop it. Assuming the current underwriting did not include an EKG. Another company may look more favorably at him. A T4 with ONL may be a T2 with AIG or Std with Lincoln Financial. Get a copy of the EKG and shop it.
     
    Last edited: Aug 25, 2015
  7. UW Guy
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    Get it from the cardiologist if they do, primary care docs don't carry much water with abnormal cardiac studies

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    Depending on the med involved you could but if it's a high end bipolar med or something serious it could need more than just a note
     
    UW Guy, Aug 25, 2015
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  8. WinoBlues
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    I have had underwriters tell me that the easier end of year underwriting is a myth. I have gotten some good offers on larger cases at end of year. What say you. Does underwriting get any pressure to approve more at end of year?
     
  9. tlmarketing
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    I would put the table D inforce first, and then have him get a cardiac workup completed...just in case the table D turns out to be the best offer. Once you have the workup, you may reshop for better offers elsewhere or keep the table D if that is best offer.
     
  10. ATM
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    ATM Super Genius

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    If the policy is still in underwriting call the underwriter. If you can't call your underwriter maybe you should deal with a company where you can? If it has already been issued and not placed inforce, call your underwriter.

    IMOs in my opinion have less than a stellar record of being able to fix things like this. I like to pick up the phone and call and get things done between the agent (me) and the company underwriter.

    BTW, Midland National.
     
    ATM, Aug 25, 2015
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