Field Underwriting/Finding the Right Carrier

[Chrism14]

I've only been selling FE the past 3 Saturdays, and I want to get some opinions on how to go about finding the company to place someone with. My first 2 days in the field, the people I met with weren't in too bad shape, hbp, 1 with diabetes diagnosed age 40 taking insulin shot, pretty simple cases with only 1 or 2 medical issues and a few meds.
Yesterday was my 3rd day in the field, and I only set 2 appts because of valentines and a snowstorm coming. Both of them had extensive health issues and several meds. Appt #1 was a 63/M/T, thyroid cancer removed 12/2013, 4 stents placed - last 2 in 2009, 2 heart attacks in '98 and '09, HBP, reading was 120/80 2 weeks ago, and latest issue was a stroke in march 2013. He was taking synthroid, atenolol, lisinopril, amlodipine besylate, atorvastatin, plavix, and lamictal. When I asked what each was taken for, he said atenolol was for arteries, amlodipine was for the heart, plavix for heart. the lisinopril i knew was for HBP.

Initially I was going to place him with AmAm graded. When I started looking up the meds, 4 of them could be taken for HBP and qualify for graded, or they could be taken for CHF and qualify for ROP. I don't think he was sure if they were prescribed for HBP or CHF, as he just said that they were for the heart, arteries, etc. I ended up quoting him for AmAm ROP benefit, although he declined, because he was a bit unrealistic wanting 20k coverage for around $50 a month.

At my 2nd appt, I had pretty much the same issue. Copd,emphysema,hep c, and about 10 different meds. I ended up writing her with AmAm graded for $23/mo.

My issue is, I feel like I'm looking too much into some things. My process is pretty much to list their health issues and when diagnosed, then list meds, what theyre taken for, and how long. From that I use a cheat sheet to figure out which company and what type of benefit they qualify for. Then I look at that company's RX guide to check their meds, and I think this is where I run into some confusion. If the prospect doesn't know if a med is taken for HBP or CHF, and the difference is an immediate benefit or ROP benefit, how do I go about that? Both of these appts ended up taking 1.5-2 hours each because I kept having to look through my papers to be sure they would qualify.

Do any of you even use the RX guides, or just go off of their medical issues to place them? I am aware that my inexperience adds to my confusion, but I want to know how others handle these things, so I can get my prospects placed more efficiently and get on to the next appt on time.

 

[Rearden]

1st case you could get him United Heritage Graded (30/70/100) with you getting paid full commission on that job.

I think Aetna would work paying Graded as well in this case.

2nd case -- you could either do Americo UPII or Transamerica Standard, if the Hepatitis C has been cured/in remission for greater than 2 years. Check the Underwriting Guide for better clarification.

These cases are exemplary of why an agent needs a competent, field-experienced upline to handle tough cases like this; it can mean the difference between not only making the sale, but also keeping sales where you would have written sub-par products had you not had the insight.

 

[SPUR CITY]

I have cheat sheets that I give to all my agents.

Most of this stuff is already in my head but I understand this is what can be a tricky part of getting going so I have designed charts that help newbies.

Between the cheat sheets, height/weight charts, RX guides and the app itself, agents will be ok.

 

[TwiLight]

I give all our new agents an appetite Chart for the tough conditions on our FE carriers.... Every carrier on basic/clean conditions usually will accept the cases level.

You just need guidance on the tougher conditions as you learn product.

Use a spreadsheet similar to the one I have attached for your own carriers and you should be good to go....

Good luck to you.

 

[goillini52]

I give all our new agents an appetite Chart for the tough conditions on our FE carriers.... Every carrier on basic/clean conditions usually will accept the cases level.

You just need guidance on the tougher conditions as you learn product.

Use a spreadsheet similar to the one I have attached for your own carriers and you should be good to go....

Good luck to you.

Nice chart Skipper. Hope you don't mind me using it to adapt it to the carriers I use.

 

[TwiLight]

Nice chart Skipper. Hope you don't mind me using it to adapt it to the carriers I use.

No Problem.... That is why I put it up...

Thought it could help organize all of us Grunts in the field.

 

[Bcrane0305]

I've only been selling FE the past 3 Saturdays, and I want to get some opinions on how to go about finding the company to place someone with. My first 2 days in the field, the people I met with weren't in too bad shape, hbp, 1 with diabetes diagnosed age 40 taking insulin shot, pretty simple cases with only 1 or 2 medical issues and a few meds.
Yesterday was my 3rd day in the field, and I only set 2 appts because of valentines and a snowstorm coming. Both of them had extensive health issues and several meds. Appt #1 was a 63/M/T, thyroid cancer removed 12/2013, 4 stents placed - last 2 in 2009, 2 heart attacks in '98 and '09, HBP, reading was 120/80 2 weeks ago, and latest issue was a stroke in march 2013. He was taking synthroid, atenolol, lisinopril, amlodipine besylate, atorvastatin, plavix, and lamictal. When I asked what each was taken for, he said atenolol was for arteries, amlodipine was for the heart, plavix for heart. the lisinopril i knew was for HBP.

Initially I was going to place him with AmAm graded. When I started looking up the meds, 4 of them could be taken for HBP and qualify for graded, or they could be taken for CHF and qualify for ROP. I don't think he was sure if they were prescribed for HBP or CHF, as he just said that they were for the heart, arteries, etc. I ended up quoting him for AmAm ROP benefit, although he declined, because he was a bit unrealistic wanting 20k coverage for around $50 a month.

At my 2nd appt, I had pretty much the same issue. Copd,emphysema,hep c, and about 10 different meds. I ended up writing her with AmAm graded for $23/mo.

My issue is, I feel like I'm looking too much into some things. My process is pretty much to list their health issues and when diagnosed, then list meds, what theyre taken for, and how long. From that I use a cheat sheet to figure out which company and what type of benefit they qualify for. Then I look at that company's RX guide to check their meds, and I think this is where I run into some confusion. If the prospect doesn't know if a med is taken for HBP or CHF, and the difference is an immediate benefit or ROP benefit, how do I go about that? Both of these appts ended up taking 1.5-2 hours each because I kept having to look through my papers to be sure they would qualify.

Do any of you even use the RX guides, or just go off of their medical issues to place them? I am aware that my inexperience adds to my confusion, but I want to know how others handle these things, so I can get my prospects placed more efficiently and get on to the next appt on time.

Rx mobile lookup. Great info for agents.

 

[Chrism14]

1st case you could get him United Heritage Graded (30/70/100) with you getting paid full commission on that job.

I think Aetna would work paying Graded as well in this case.

2nd case -- you could either do Americo UPII or Transamerica Standard, if the Hepatitis C has been cured/in remission for greater than 2 years. Check the Underwriting Guide for better clarification.

These cases are exemplary of why an agent needs a competent, field-experienced upline to handle tough cases like this; it can mean the difference between not only making the sale, but also keeping sales where you would have written sub-par products had you not had the insight.

The 1st case I was going to write AmAm graded, I dont have UH and amam's rates are cheaper anyway. The problem I had was he said he took 2 meds for his heart 1 for his arteries. When I looked them up, all of them would be immediate if taken for HBP, ROP if taken for CHF. The problem was he didn't give me a specific answer as to what they were taken for, and to be safe I chose to put him with the ROP benefit. Technically, if I waited til April so the stroke was over 2 years ago, and assuming all his meds were taken for HBP, he would qualify for an immediate benefit with AmAm or 5star. Feel free to correct me if I'm wrong here.

For the 2nd case, the hep c was diagnosed about 20 years ago and she wasnt taking any meds for it. The copd was diagnosed 2 years ago and shes currently taking meds, thats why I wrote her with AmAm graded. The funny thing was, once I told her the company name, she goes and gets an AmAm graded policy she bought last year but canceled because she couldnt afford $60 a month. I wrote her for about $23/mo, don't know if she'll keep it or not, but I felt pretty good knowing I chose the same plan that a (probably) more experienced agent chose last year.

My upline has been a great help, theres just some things that are easier/more convenient for me to ask on the forums. I feel like I made pretty good choices for those cases, and I have ben and all the other guys from 360 to thank for the guidance. Some things just come with experience. I have trans but honestly I havent even looked at their product yet. That's the next thing on my list.

And Spur, I have all Ben's cheat sheets. I made my own health cheat sheet with just my companies in a spreadsheet format, just a personal preference for me. My thing is if a client is taking a med but isn't sure if its for HBP or CHF, and the difference is Immediate coverage or ROP, how do I choose?

 

[Chrism14]

I give all our new agents an appetite Chart for the tough conditions on our FE carriers.... Every carrier on basic/clean conditions usually will accept the cases level.

You just need guidance on the tougher conditions as you learn product.

Use a spreadsheet similar to the one I have attached for your own carriers and you should be good to go....

Good luck to you.

The one I made is almost exactly like that lol...I went through each of my companies apps (havent done trans yet), and did pretty much the same thing.

And Thanks bcrane ill look into that. Finding what the med is generally prescribed for isn't really my issue though, its finding what the prospect is taking it for if they don't even know.

 

[goillini52]

The one I made is almost exactly like that lol...I went through each of my companies apps (havent done trans yet), and did pretty much the same thing.

And Thanks bcrane ill look into that. Finding what the med is generally prescribed for isn't really my issue though, its finding what the prospect is taking it for if they don't even know.

Very detailed. You put a lot of work into that.

If the PI doesn't know what the med is for, then he'll have to call the Dr. and ask. Have them do it while you're there.

Your upline should've told you that. You should fire your upline! Just kidding Ben.