How Many?

[bill3173]

There are agents who current write small face amounts over the phone without ever meeting the prospect. Plenty of carriers offer face amounts under $50k on a simplified issue basis.

Sshh. Don't say that too loudly, a lot of the better carriers, still require the agent to meet the applicant, for non med. I had a case last year, with xxxxx, where I actually did meet with the client and he signed the app. They called for a phone interview, and he was confused, and said that he didn't meet with me. I explained to them that he got confused, because I had taken his health app over the phone, and probably didn't distinguish between carriers. They were going to void the application, but after I spoke with them, they changed their minds. Besides, I could back up what I told them, but there was no need.

 

[Guest]

It actually dropped in 2007 for the first time in 7 years.

Number of Uninsured Americans Drops - US News and World Report

I should have known the source was fallible. Thanks!

 

[ABC]

ABC:

It would be interesting to see and analyze the matrix of those six declines, based on the knowledge and criteria you had in advance as to their meds and conditions, as compared to the reason for decline. Were they declined based on what was known to you, or unknown, at the time of the app...?

Might be a learning experience for you and others; not that the mere decline of these cases hasn't been somewhat of a learning exp already. Maybe it helps you avoid similar experiences going forward.

Here is one of them
Female 29 single
Spoke to her on the phone 2 times. Initial conversation and then 2nd to explain in more details plan designs I sent. In the 1st conversation I explained to her how underwriting works.
I ask of any current conditions that she is being treated for.
Then ask any thing in the last 5 years that she has had treatment for. She tells me she is suffering from allergies but takes only OTC for it.
So I send the app by email.

So the email hit underwriting I print a copy for my file.
We have a condition of Back spasms begining 08 and taking Celebrex & Soma for this daily. RED FLAG Two meds treating the same condition.
Then we have the allergies were Prednesone is treating the condition daily.

I sold her an economy plan from Anthem that covered generic drugs and limited office visits per year.
She was a decline due to back spasms,allergies and perscription drug use.

What is happening to me its never one major condition but a combination of a few that lead to my declines.

Its seems that Anthem has tighten up there indiviudal underwriting in my state but they are the best game in town form a rates and renewal standpoint.

I generate a lot of my indiviudal sales from my website.
I have a high decline rate. I think its cause in my state we have a boat load of people that do not take care of themselves. When I write business in rural communities for get about it. Those Doc. in small towns love to treat people$.

 

[moonlightandmargaritas]

I feel for you - really no way to prevent people from lying to you.

Idea: instead of THEY fill out the application, how 'bout YOU fill out the app? That way you can flesh out the additional meds, conditions, etc. before you get too far.

-or-

Send them a paper app by email or fax. Have them hand fill it out and return. Use it as a guide for filling out an electronic app...

I would even do this before sending any quote.

 

[ABC]

I feel for you - really no way to prevent people from lying to you.

Idea: instead of THEY fill out the application, how 'bout YOU fill out the app? That way you can flesh out the additional meds, conditions, etc. before you get too far.

-or-

Send them a paper app by email or fax. Have them hand fill it out and return. Use it as a guide for filling out an electronic app...

I would even do this before sending any quote.

I hear what your saying

I am trying to take advantage of the online technology. I the next 10 years most indiviudal application will be online.

So far this month I have had 6 approvals 6 declines and 3 still in underwriting. If I could get to the point where I have 30 submission a month and say 40% of them are declines then I would be fine with that.

My main focus is group sales. So I consider indiviudal sales as the cream. I will say since coming to this forum I have put a higher emphasis on indiviudal sales again.

 

[somarco]

I sold her an economy plan from Anthem that covered generic drugs and limited office visits

You might want to rethink that approach. A generic Rx only plan is asking for trouble. Someday, someone will come back at you when they NEED brand Rx cover and the plan you sold them doesn't cover that.

Can't say about the Anthem plan, but some plans limit OV and then the rest go toward the deductible. Other plans limit OV and then NO coverage, no deductible credit.

If you are going to sell limited OV plans at least make sure the balace are covered and apply toward the deductible.

Beyond that you are not establishing a trusting relationship between you and your client. If you were they wouldn't pull that crap and tell you they only take OTC meds when in fact they should be buying stock in CVS. I get a handful of declines during the year but that is because I take cases most agents don't want to mess with.

But I also tell my client it will be hard to get approved and we may get shot down but we have to at least try. I do prescreens on all my challenging cases and 95% of the time I get the same offer or better.

And Paul is right, some folks will lie to you and nothing you can do about it.

 

[Paradigm]

Yes Somarco I tell questionable clients we can try and apply but I make them aware they may be declined or at best waivered or rated

 

[jbage007]

I'll place 200 individual case here this year. Haven't had a decline in over two years.

You've got to separate the "wheat from the chaff" - upfront.

You'd probably write more bidnezz if you didn't do so much separating.

 

[Dave020]

What is happening to me its never one major condition but a combination of a few that lead to my declines.

This seems to be quite common anymore, I get a lot of these every month. The most common I see are allergies, GERD, cholesterol, sleep aid or mild anti-depressant and BP. Each, by itself, may not be a huge problem, but it seems that it is often a combination of two or more. Often they are taking generics or OTC, but the combination just makes a mess out of the underwriting. Are people treating too many things or are too many things wrong with people?

 

[ABC]

You might want to rethink that approach. A generic Rx only plan is asking for trouble. Someday, someone will come back at you when they NEED brand Rx cover and the plan you sold them doesn't cover that.

Can't say about the Anthem plan, but some plans limit OV and then the rest go toward the deductible. Other plans limit OV and then NO coverage, no deductible credit.

If you are going to sell limited OV plans at least make sure the balace are covered and apply toward the deductible.

Beyond that you are not establishing a trusting relationship between you and your client. If you were they wouldn't pull that crap and tell you they only take OTC meds when in fact they should be buying stock in CVS. I get a handful of declines during the year but that is because I take cases most agents don't want to mess with.

But I also tell my client it will be hard to get approved and we may get shot down but we have to at least try. I do prescreens on all my challenging cases and 95% of the time I get the same offer or better.

And Paul is right, some folks will lie to you and nothing you can do about it.

These econcomy plans are cheaper than HSA plans. They are major medical plans with a couple of bells. On these plans I know if someone has a $100,000 surgery it will pay.

Your right that I am not establishing a big relationship with these people that are coming to my website. I am spending about 15 mintues with them on the phone.

We are entering a whole new area with individual health insurance and online. I give you an example, I have a quote engine on my website. I had two people last week apply for coverage without even talking to me. They generated quotes and then submitted applications via online. One was a low $67 a month premium and the other was $210 a month premium.
This will become trend with healthy people "click and submit"
Look at ehealthinsurance.com that is what they are doing.

There will always be people that need help & advice but as people become more web savy it might become less and less.

I see the writing on the wall.