I did good yesterday... real good.

[Allen Trent]

Proofs in the pudding . A very high % of contestable life claims arent paid .Hard to believe all those claims not paid lied .

You may be right about final expense, especially considering there is not as much traditional underwriting or exams involved. But in the fully underwritten life policies, I just don't see that to be true

 

[Ksutton]

Completed an in person death claim yesterday with a beneficiary.

Once again, if you are an agent and not taking the time to complete these for the people you call clients, I feel you are both not doing yourself a favor nor are you being a professional agent. If you say your too busy making money to do this sort of thing... exactly, your just a salesman, not a professional agent.

In addition to being professional, the profound impact in dealing with those who are going through a major loss, solidifies in your being the important impact you make in the lives you touch through the products you offer. It also allows you to care for and relate with kindness and compassion those who are walking through loss. A loss all will suffer save the return of the King.

A loss your family will feel when you have departed.

More than just a salesman! I no longer need someone to tell me this, I feel it in my being... and it's worth a million bucks, but you couldn't buy it if you tried.

I slept very well last night.

Way to serve! This is an outstanding example of rising above! Hats off!!

 

[jdeasy]

Given your field underwriting and placement skill set,how many contestable claims do you typically get each year ?
How long should it take for a company to make a decision?
What the maximum amount of time you've seen them take to pay one ?
On average what percentage of your's are paid ?

No idea, I don't count them. I don't have a lot of contestable claims. KSKJ has been my goto for over 7 years. They have paid every contestable claim. RNA was my goto for 6 years. They paid every contestable claim except one.

I probably had 10 or so with Americo and they only paid one. I had one contestable claim with FBL and they didn't pay it. I had one with Foresters and they didn't pay it. I had one with AmAm and they didn't pay it. I had 2 with CF and they didn't pay either one.

The ones not paid usually take 8-10 months to not pay. The ones paid usually take around 3 months.

I just heard of a company taking a year and half to deny the claim. The longest for me personally was almost a year.

What I deduct from that is that if one takes over 4 months to settle it's not going to be paid.

There's a been a few that I wish the family would fight. I beleive the companies have been in the wrong in several cases. But none fight it. And you, the agent, cannot encourage the family to fight it. Well, you can, but you are putting your contract and maybe your E&O in jeopardy if you do.

The agent is the company technically and legally. If a case were to go to court the agent would be seated with the company.

I know agents like to tell people that they don't work for any company. But that's just sales talk. If the rubber meets the road the agent most definitely works for the company.

I think many of these denied claims would be paid if people fought them. Might be settled at the courthouse door? But I think they would settle.

 

[noah]

No idea, I don't count them. I don't have a lot of contestable claims. KSKJ has been my goto for over 7 years. They have paid every contestable claim. RNA was my goto for 6 years. They paid every contestable claim except one.

I probably had 10 or so with Americo and they only paid one. I had one contestable claim with FBL and they didn't pay it. I had one with Foresters and they didn't pay it. I had one with AmAm and they didn't pay it. I had 2 with CF and they didn't pay either one.

The ones not paid usually take 8-10 months to not pay. The ones paid usually take around 3 months.

I just heard of a company taking a year and half to deny the claim. The longest for me personally was almost a year.

What I deduct from that is that if one takes over 4 months to settle it's not going to be paid.

There's a been a few that I wish the family would fight. I beleive the companies have been in the wrong in several cases. But none fight it. And you, the agent, cannot encourage the family to fight it. Well, you can, but you are putting your contract and maybe your E&O in jeopardy if you do.

The agent is the company technically and legally. If a case were to go to court the agent would be seated with the company.

I know agents like to tell people that they don't work for any company. But that's just sales talk. If the rubber meets the road the agent most definitely works for the company.

I think many of these denied claims would be paid if people fought them. Might be settled at the courthouse door? But I think they would settle.

We have all run a lead card and observed a situation where our judgement is called into question about whether or not the applicant will make it 2 years.
Sometimes the applicant appears frail,thin,pale.
Many times,their medical history and script check will not be flagged and the applicant will medically qualify for the companies preferred product.
You've taken thousands of applications,have experienced many contestable and non contestable claims.
If you have a hunch the applicant won't make it,what do you do ?
Is there ever a time you take a pass on writing the application?

 

[theinsuranceman]

We have all run a lead card and observed a situation where our judgement is called into question about whether or not the applicant will make it 2 years.
Sometimes the applicant appears frail,thin,pale.
Many times,their medical history and script check will not be flagged and the applicant will medically qualify for the companies preferred product.
You've taken thousands of applications,have experienced many contestable and non contestable claims.
If you have a hunch the applicant won't make it,what do you do ?
Is there ever a time you take a pass on writing the application?

All an agent can do is ask the health questions, get prescribed meds, visual cues (in a wheel chair, oxygen, etc.) and write the applicant for whichever plan they qualify for as per carrier requirements. The RX and/or MIB will do their job and double check the agent, and the applicant, for their honesty on the application.

 

[noah]

Yeah no chit bro.
Are you a field agent ?
Aren't you a marketer?

How are you qualified to you answer posts for J.D. ?

Nice try

 

[theinsuranceman]

Yeah no chit bro.
Are you a field agent ?
Aren't you a marketer?

How are you qualified to you answer posts for J.D. ?

Nice try

Oh....so sorry.

 

[WinoBlues]

Open forum

 

[noah]

My bad

 

[jdeasy]

We have all run a lead card and observed a situation where our judgement is called into question about whether or not the applicant will make it 2 years.
Sometimes the applicant appears frail,thin,pale.
Many times,their medical history and script check will not be flagged and the applicant will medically qualify for the companies preferred product.
You've taken thousands of applications,have experienced many contestable and non contestable claims.
If you have a hunch the applicant won't make it,what do you do ?
Is there ever a time you take a pass on writing the application?

I write very little, almost no, GI. So I guess I do walk from those. The rest I don't guess. If they answer the qualifying questions properly then I write them.

I don't know how long they will live. While I don't write GI, I do write graded. And always have. I can't remember a person that I wrote graded on dying in the first 2 years.

I wrote what I thought was a very sickly guy with Aetna graded 12 years ago at age 84. He's 96 now and still paying. he has paid in more than the death benefit by now. But he's OK with it because he's still here.

I have 2 instances of people dying very soon after I wrote them. One guy died 2 weeks after I wrote him. One lady died one month into her policy. Both of those were super healthy, or so it seemed, at the application. Both were paid too.

One was 5 Star. One was KSKJ. I did have 2 instances where 5 Star didn't pay contestable claims. I forgot about them when I responded earlier.