Ok somebody please help me with this.I got a policy issued on a guy with a 10 yr level term. He took an exam and they aps'ed his dr. Policy issued . Now he wants a 30 yr level and this company doesn't offer it. How do I use his present exam for another company?Can I call the exam company and have them forward it to the new company? Will the new company aps?Will I have to tell the new company which company issued the policy and he doesn't want it? Tell me how this works. Thanks
How Do I Use a Medical Exam from Another Company
- Thread starter goget
- Start date
Different carriers, different rules. If the exam contains all the pertinents it might be acceptable but you'll likely have to complete the new carrier's medical history form (we're not big on crossing contract docs like that).
APS will depend on A&A requirements/noted history/MIB. And yes, tell them about the other coverage, not likely to be an issue but we like all the cards present.
- 284
The best way to do this (may be too late in this case) is to order the exam through an IMO that pays and owns the rights to it and can resubmit to another carrier. Rather than doing straight with the carrier who then owns it and has no incentive to release it. This is a good test of how valuable your IMO is....
- 15,041
If you have a good relationship with your exam provider, they usually will send the exam to the other company. I believe they get to bill again, so they love it.
As to the APS, if the first company wanted one, you should anticipate the second company will as well. If it was sent directly to the company's vendor, you are going to have to do it all over again. Unless they use the same vendor and the vendor puts two and two together, which is unlikely.
One thing to consider, some companies will issue a policy if the insured recently obtained a policy at standard or better from a list of certain companies. I don't recall any specific companies off hand, but I do remember seeing this from time to time.
As to the APS, if the first company wanted one, you should anticipate the second company will as well. If it was sent directly to the company's vendor, you are going to have to do it all over again. Unless they use the same vendor and the vendor puts two and two together, which is unlikely.
One thing to consider, some companies will issue a policy if the insured recently obtained a policy at standard or better from a list of certain companies. I don't recall any specific companies off hand, but I do remember seeing this from time to time.
