COPD Immediate Coverage

[RonRoberts]

Ron,

what does settlers show for immediate coverage with COPD

I have a female 71 year old smoker with COPD

thanks in advance for your help

It looks like Settlers will put the client in a graded policy if diagnosed/treated within the last 5 years.

After doing my due diligence it looks like the only two companies that will put the client level are Monumental and Assurity but must be a non-smoker and not on Oxygen.

Ron

 

[TPAAgent]

Why does that make it a chargeback risk?

I'd like the answer to that too

 

[RonRoberts]

yep, equitable, if they are non-smokers, is immediate level death benefit... some states if smokers i think they can still do modified/graded, but not in NC

Will Equitable do direct monthly billing?

The reason I ask is that I had a prospect today that was taking Spiriva for COPD/Emphysema. Quoted her Monumental standard (btw it was from a Monumental drop) $7000 benefit @$36/month. She bought it, did the app, but when I told her they required monthly auto she balked and said no thanks. I sat at her dining room table for 45 minutes trying to close her and even used Mark Rosenthal's closing method of writing the premium and benefit on a piece of paper, then tearing it in two pieces but she was a no go. She could not swing the quarterly pay so I left empty handed with her promising me she would be in touch.

 

[Rearden]

You can't fix stupid.

Showed a guy an immediate Americo non-smoker policy a dollar higher per month than his MoO that he had another 2 years to wait on.

Said he was all set and wanted to take his chances. I told him about my first death claim with the client dying 12 days after taking the policy out. No change.

He agreed with me that no body knows how long they got to live. Not worried nevertheless.

Like I said... you can't fix stupid.

 

[Mattschmidt]

You can't fix stupid.

Showed a guy an immediate Americo non-smoker policy a dollar higher per month than his MoO that he had another 2 years to wait on.

Said he was all set and wanted to take his chances. I told him about my first death claim with the client dying 12 days after taking the policy out. No change.

He agreed with me that no body knows how long they got to live. Not worried nevertheless.

Like I said... you can't fix stupid.

I really feel sorry for that guys family...You almost want to root against him...What a shame

 

[Rearden]

I figure there was some underlying objection he wouldn't be honest with me about.

 

[SportsNut]

You can't fix stupid.

Showed a guy an immediate Americo non-smoker policy a dollar higher per month than his MoO that he had another 2 years to wait on.

Said he was all set and wanted to take his chances. I told him about my first death claim with the client dying 12 days after taking the policy out. No change.

He agreed with me that no body knows how long they got to live. Not worried nevertheless.

Like I said... you can't fix stupid.

From this I would surmize that it is not the dollar, nor is the immed benefit vs the two yr ROP MoO policy.... there is something that you haven't yet uncovered, OR there is a trust level that you've not yet established. Maybe he has been ripped off in the past, or who knows..... but only more discussion will surface what the issue is... but I would keep talking and working with this client, because you have a VALID reason to do so. This will turn into a sale, more times than not.

 

[Justin Bilyj]

According to Ritter, as far as graded/modified goes (I know you asked for immediated coverage) Foresters still have a cheaper price then UHL, Baltimore, RN, and Monumental...

 

[Newby]

I really feel sorry for that guys family...You almost want to root against him...What a shame

Sometimes it helps to explain it this way:

ME: I have a top-rated company that will accept you at a good rate but since you have the pre-existing conditions they will require you to put a downpayment of $1,200 first. (assuming the monthly premium is $50 monthly) Would you be interested in that one if they have a real good monthly premium?

Prospect: Hell no! I'm not putting $1,200 down.

ME: Nobody else ever likes that one either. But right now, that's the one you have chosen. With your MOO policy you don't have your insurance at $50 monthly. You have to make 24 installments of of $50 (total $1,200) BEFORE they will cover you at all.

Most people would rather have a TRUE monthly premium for coverage rather than all that upfront downpayment and wait two years just to buy down the premium slightly. It's like paying POINTS on a mortgage.

 

[TDFnCali]

Sometimes it helps to explain it this way:

ME: I have a top-rated company that will accept you at a good rate but since you have the pre-existing conditions they will require you to put a downpayment of $1,200 first. (assuming the monthly premium is $50 monthly) Would you be interested in that one if they have a real good monthly premium?

Prospect: Hell no! I'm not putting $1,200 down.

ME: Nobody else ever likes that one either. But right now, that's the one you have chosen. With your MOO policy you don't have your insurance at $50 monthly. You have to make 24 installments of of $50 (total $1,200) BEFORE they will cover you at all.

Most people would rather have a TRUE monthly premium for coverage rather than all that upfront downpayment and wait two years just to buy down the premium slightly. It's like paying POINTS on a mortgage.

Man, thats good stuff Newby....I learn so much from here, I CREDIT YOU GUYS for some of the lil early success Ive had so far!!

Thanks Sincerely,