Bankers Life & Causualty Short Term Nursing Policy

[CALTCAgent]

Hello,

Is there was any way to sell the Short Term nursing policy they have without being captive with them?

Any branch managers out there that would consider this situation?

Thanks in advance!

 

[yankee466]

Have you looked at the Standard Life and Accident's plan (Recovery Care II)? Not sure if it is available in CA,but the UW is more lenient than the traditional LTC carriers. It is up to one year for facility care only. Else I know nothing about Bankers.

 

[CALTCAgent]

Hello Yankee466,

I have heard of that plan and it sounds great. Unfortunately its not approved in CA.

Thanks again

 

[BNTRS]

I know someone who was a bankers agent who went independent and still has active appointments with them I believe.

I know they sell life policies through BGAs.

 

[CALTCAgent]

Hello,

I have heard of that also.

 

[Mr_Ed]

CALTCAgent,

There's a lot of variance between the underwriting guidelines of the top 15 long term care insurers.

Check out:

We help you turn your LTCi declines into approvals


Here's a list of some of the recent hard-to-place cases we've gotten approved:

We help you turn your LTCi declines into approvals

 

[CALTCAgent]

Hello Never_a_dull_moment,

"There's a lot of variance between the underwriting guidelines of the top 15 long term care insurers."

I disagree that there is a lot of variance between underwriting guidlines of the top LTC carriers. I feel there is a very small variance in the guidlines. If for example Hancock recently declines somebody there is an extremely small chance of them getting accepted by another carrier. I wished this wasn't the case. An agent really has to decide if the time and effort is worth it to attempt another try, except of course when Penn Treaty was in business.


'"Check out:

We help you turn your LTCi declines into approvals"


I have entered the required information twice in your web site, which took me a bit of time. You acknowledged you received the info and would get back to me, both times I never heard anything back from you. This was my experience. I suspect you are a little bit over encouraging as to the "variances" in LTC carriers. I suspect my cases were not good prospects. I agree there may be instances where you can turn a recent LTC decline into an approval with another carrier. If there was an easy way to try it would make more sense.

Just my humble opinion.

 

[Mr_Ed]

The underwriting variances are significant.

I had one case this year where this gentleman had been declined by 2 of the top 10 LTC insurers and he was even declined by group LTC insurance policy offered by one of the top 10 LTC insurers.

He had COPD, sleep apnea, and he was about 80lbs overweight.

Out of the top 15 LTC insurers, he was an autodecline by 13 of them. I submitted applications to the other 2. Both of them approved him. One of them was A-rated by AM Best and the other is rated A+ by AM Best. The A-rated company approved him with their second-tier rates (which they call 'preferred'). The A+ rated company approved him with their third-tier rates (which they call 'class 2'). He chose the A-rated company because the premiums were much lower.

This is not an isolated occurrence.

I had another situation, not too long ago, where I was in competition with some other agents. All the other agents were recommending company "A". I told the man that he would be declined by company "A" because of his elevated kidney function test. He told me that none of the other agents told him that and since his friend bought a policy from company "A", he would too.

Two months later he called me back and told me that Company "A" had declined him because of his elevated kidney function tests. We applied to the company I was recommending and he was approved with preferred rates. No joke. This company is rated A by AM Best. (fyi... he would have been declined by every other top 10 long term care insurer because of the elevated kidney function tests.)

The variance in underwriting guidelines is significant.

But, I'm not a miracle worker. I can't get someone approved who is a few steps short of a nursing home.

If you'd PM me your name and/or email I'll be happy to find out why you were not contacted about the cases you submitted at the website.

Scott

PS, next time you want to submit a case, since you don't type, then just print out the fax back form and complete it by hand and fax it in. Here's the link for the fax form:

http://www.declinesintocash.com/pre-approval-fax-form.pdf



PPS, for those agents who don't think it's worth the time to submit a case to another carrier, I am willing to do that for them. When I make a recommendation, I believe it enough to where I'm willing to spend my own time completing the application, submitting and tracking the business and even delivering the policy if necessary. I give every agent the choice to do the app themselves or I'll do it.

 

[CALTCAgent]

Hello Never_a_dull_moment,

Would you mind putting the company names here instead of company "A', so we can all see who would accept what?

Also lets me know in CA if the companies you mention are available.

You mention you applied with 2 diffrent companies for a gentleman at the same time. Did you have him fill out 2 different applications and collect 2 deposits?


Thanks in advance!
- - - - - - - - - - - - - - - - - -
Hello never_a_dull_moment,

Also you mentioned I don't "type"?

Can you tell me where I said that?

I am a little confused as I do type I think you have to these days?

Thanks again!

 

[Mr_Ed]

Hello Never_a_dull_moment,

Would you mind putting the company names here instead of company "A', so we can all see who would accept what?

Also lets me know in CA if the companies you mention are available.

You mention you applied with 2 diffrent companies for a gentleman at the same time. Did you have him fill out 2 different applications and collect 2 deposits?


Thanks in advance!

Hi, CALTCAgent,

The company "A" in question is the company that approved the gentleman that had COPD, sleep apnea, and was 80lbs. overweight. That same company "A" is the company that declined the other gentleman for his elevated kidney function tests.

I was able to get the gentleman with the elevated kidney function tests approved by company "B". But Company "B" wouldn't even consider an application for the gentleman who was 80lbs overweight (let alone that he had sleep apnea and COPD).

My point is that there is no such thing as a "substandard" LTC insurer. There is no such thing as one company or two companies where you can dump all your hard-to-place cases.

The internal underwriting guides used by the insurers are over a thousand pages long. The 50 or 100 page guides they give producers are just brief summaries of their underwriting guidelines.

Every case is unique. Every company has a unique way of viewing different combinations of different health histories. The only reason I've learned about it is because I think it's fun.

And, to answer your question, 90% of my hard-to-place cases which have been approved have been approved by companies that operate in California.