FE Underwriting Question

[Watchman]

Please don't laugh at this question. My goal is to do the best that I can underwriting for a client and a Insurance Company.

I have a 62 yr old male with diabetes that is controlled with a pill. About a yr ago, he had a leg amputated due to a blood clot. His diabetes is not juvenal onset. He has had it about 10 years or so. He does not smoke but he does use chew.

He takes a pill for the diabetes and 1 other for acid reflux. That's it for meds. Other than that, he is healthy. LOL!

I have qouted him $12,000 @ $93/mo with Presidential and he wants me to sign him on Wednesday.

Does anyone have an opinion on how I might better serve this client?

 

[jdeasy]

Graded with Am Con, 40% 1st year and 75% 2nd year. $10,000 is $88/mo.

Should be able to get immediate coverage with Monumental. $12,000 would be $77/mo.

That's two better options than Presidential right there. Should be many more. Just didn't take time to look.

 

[Watchman]

Graded with Am Con, 40% 1st year and 75% 2nd year. $10,000 is $88/mo.

Should be able to get immediate coverage with Monumental. $12,000 would be $77/mo.

That's two better options than Presidential right there. Should be many more. Just didn't take time to look.

Jdeasy,

Question 2c under part B1 on the Monumental application asks: Has the proposed insured ever been in a diabetic coma or had or been advised to have an amputation due to disease or disorder?

His answer is "yes"...he had his leg amputated due to a blood clot...so he say's.

I would love to get him immediate coverage with Monumental as you say I can. Am I missing something here?
Does this question exclude him only if the amputation is due to the diabetes?

Please advise.

 

[jdeasy]

Jdeasy,

Question 2c under part B1 on the Monumental application asks: Has the proposed insured ever been in a diabetic coma or had or been advised to have an amputation due to disease or disorder?

His answer is "yes"...he had his leg amputated due to a blood clot...so he say's.

I would love to get him immediate coverage with Monumental as you say I can. Am I missing something here?
Does this question exclude him only if the amputation is due to the diabetes?

Please advise.

My bad on the Monumental. I missed that part. I went over it too quickly.

 

[Newby]

He would qualify for American Memorial standard rate but they will be higher than Am Continental if he can get that.

The American Memorial is 1st day coverage though.

 

[jacobtn]

Americo would be a good option as they don't rate him up for tobacco chewing, only cigarettes. The protector 2 product is what he would qualify for.

 

[Longtimeagent]

Americo would have to be UP3 (guaranteed issue) due to having to answer yes to question 5 in part 1 of the app.
5.) in the last two year have you .... Surgery for ...blood clots in the legs? YES he has. He had a leg removed due to blood clots. You may not want to advise someone without knowing the app. Also, there'd be no rate up for tobacco use on UP2 bc it's a default rate.
If the client can wait for it to be two years then he can get one of the best rates and it be day one coverage.

 

[jacobtn]

Americo would have to be UP3 (guaranteed issue) due to having to answer yes to question 5 in part 1 of the app.
5.) in the last two year have you .... Surgery for ...blood clots in the legs? YES he has. He had a leg removed due to blood clots. You may not want to advise someone without knowing the app. Also, there'd be no rate up for tobacco use on UP2 bc it's a default rate.
If the client can wait for it to be two years then he can get one of the best rates and it be day one coverage.

But if his health declines further than he will have to pay a higher rate later and still wait 2 yrs for the benefit. I would write him now the best deal he can qualify for, and reevaluate him in 2 yrs.

 

[Longtimeagent]

Actually you could write him the best deal now and reevaluate him in less than a year. I didn't say not to write it up now with the company that will take him. Just pointing out that you were giving incorrect infomation.

 

[Watchman]

Actually you could write him the best deal now and reevaluate him in less than a year. I didn't say not to write it up now with the company that will take him. Just pointing out that you were giving incorrect infomation.

But what is the best deal now? I HATE to use Presidential. I have been told Oxford will take him because their question asks if the amputation was due to a disease, and a blood clot is not a disease. I have also heard that Oxford has a strong underwriting dept.

Any comments??