First FE Client Dies Within First Year!

[Justin Bilyj]

He was so nice, was gonna call and check up on him too! Wanted to write his daughter, the bene, as we had talked about it before.
I got a letter stating he passed away within the contestable period and will be looking at his medical records.
How long will this take?
What other measures would you take to help the situation?
The guy seemed so healthy, probably passed away from a broken heart as his wife and daughter had recently passed away...

 

[STIBROKER]

AND you have to pay back the commish.......

 

[VolAgent]

AND you have to pay back the commish.......

Only if it is contested.

You can expect it to drag out a few months if the doctors are slow about returning records.

 

[Newby]

Only if it is contested.

You can expect it to drag out a few months if the doctors are slow about returning records.

You mean rescinded. They are ALL contested. You don't lose commish unless they are rescinded though.
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He was so nice, was gonna call and check up on him too! Wanted to write his daughter, the bene, as we had talked about it before.
I got a letter stating he passed away within the contestable period and will be looking at his medical records.
How long will this take?
What other measures would you take to help the situation?
The guy seemed so healthy, probably passed away from a broken heart as his wife and daughter had recently passed away...

The fastest I ever had one die was when I was delivering his policy to him on a Thursday night. I stayed and talked to him 1/2 hour while he was working on his lawn mower. Nice guy age 62.

Sunday he was in the obits. Actually had a massive heart attack Friday night while he was sitting in a bar. Fell off the bar stool and died.

ForeThought checked it out and paid the claim just fine. Took maybe two months.

 

[jdeasy]

You mean rescinded. They are ALL contested. You don't lose commish unless they are rescinded though.
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The fastest I ever had one die was when I was delivering his policy to him on a Thursday night. I stayed and talked to him 1/2 hour while he was working on his lawn mower. Nice guy age 62.

Sunday he was in the obits. Actually had a massive heart attack Friday night while he was sitting in a bar. Fell off the bar stool and died.

ForeThought checked it out and paid the claim just fine. Took maybe two months.

The one that I've had that was the soonest after application was a couple of years ago. Put him with RNA in Jan and he died in March. healthiest 77 year old I believe I had ever run across. Took no meds, still worked everyday.

Died in his sleep. They said they thought it was a heart attack. No autopsy done.

Took RNA about 2-3 months to pay. That was with me calling every week and greasing the wheels.

They did question the widow to the point that she called it "harassing". Stiil, they paid the claim.

 

[WinoBlues]

If a personal Doc you may call the doctor's office and ask that they expedite the records. Also have the bene make sure they give all the doctors he has seen. In my experience the longest delays come from APS and and having to go out for additional APS. As everyone said probably a couple months.

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Fastest and youngest for me.

Wrote a 19 year old single mom a "family plan" late Friday, 16 day old baby dies Saturday night. App and check are still on my desk. Took about two months but they paid the $20,000.00 claim.

She bought a car. Lapsed the policy. I get a charge back. Baby daddy totals the uninsured car. Aunt, a client, ask me to rewrite her and new baby. I say "hell no".

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[VolAgent]

You mean rescinded. They are ALL contested. You don't lose commish unless they are rescinded though.
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The fastest I ever had one die was when I was delivering his policy to him on a Thursday night. I stayed and talked to him 1/2 hour while he was working on his lawn mower. Nice guy age 62.

Sunday he was in the obits. Actually had a massive heart attack Friday night while he was sitting in a bar. Fell off the bar stool and died.

ForeThought checked it out and paid the claim just fine. Took maybe two months.

I was going to say successfully contested, but left successfully out.

In almost everyone it has taken a while for me. It seems every doctor drags out returning records or they are part of a big group that requires their own release.

 

[Cyborg7]

Who was the carrier Empty??

 

[bill88000]

If a personal Doc you may call the doctor's office and ask that they expedite the records. Also have the bene make sure they give all the doctors he has seen. In my experience the longest delays come from APS and and having to go out for additional APS. As everyone said probably a couple months.

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Fastest and youngest for me.

Wrote a 19 year old single mom a "family plan" late Friday, 16 day old baby dies Saturday night. App and check are still on my desk. Took about two months but they paid the $20,000.00 claim.

She bought a car. Lapsed the policy. I get a charge back. Baby daddy totals the uninsured car. Aunt, a client, ask me to rewrite her and new baby. I say "hell no".

Sent from my Nexus 7 using Insurance Forums

Had a sad one a few years ago. Wrote the app at his home on Halloween night. He was a 69 year old bar business owner. He said his wife passed 2 years back, his drug abusing daughter talked him into a reverse mortgage, she spent all $100k of it, and he now had nothing to give his responsible son the police officer of 20 years. Day after Christmas I called his bar to arrange to deliver the policy and the woman answering said, "Oh you don't know... he died yesterday". His son got the check after a few months. I'll never forget... very sad, but he got his wish.

 

[jacobtn]

Had a sad one a few years ago. Wrote the app at his home on Halloween night. He was a 69 year old bar business owner. He said his wife passed 2 years back, his drug abusing daughter talked him into a reverse mortgage, she spent all $100k of it, and he now had nothing to give his responsible son the police officer of 20 years. Day after Christmas I called his bar to arrange to deliver the policy and the woman answering said, "Oh you don't know... he died yesterday". His son got the check after a few months. I'll never forget... very sad, but he got his wish.

What was face amount?