Learned Something New About UW Today

[agentjhc]

I quoted a client P+ with based on info given. Key info was female 5-1/140....UW let me know today the client would be P due to losing 20lbs in the past year, down to 141. Apparently, the weight loss is not given full credit until it is kept off for a year because people that lose 20 pounds usually gain 10 of it back. If she keeps it off, the client could ask for recertification to P+

Guess I will ask about weight loss in the last year from now on.

 

[Larry Tew]

I know that's Ohio National's rule... I assume it's pretty standard with most companies.

 

[Tahoe Ray]

I assume only 50% of weight lost in the last 12 months will count for most of the carriers I use as well...the weight change question is often on the app too.

 

[agentjhc]

Good guess! I don't think it will be a deal breaker as it only changes the monthly premium $5

 

[Larry Tew]

Our Ohio National regional meeting was today. The H.O. underwriter who presented at the meeting showed the breakdown of issued rate classes for 2012.

23% issued SPreferred, I think around 25% issued Preferred. That means that 77% of issued cases were NOT SPreferred. Personally, i would never quote SPreferred of even Preferred. I might quote Select or just give a range of expected premum.

 

[agentjhc]

I normally do not, but it was a young female that hit all the numbers....maybe should have quoted range P to P+ that is what I often do....live and learn. I like to quote one category short of what I think it will be, then they are happy when it comes back cheaper.
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Did they mention critical or chronic illness rider?

 

[Larry Tew]

...Did they mention critical or chronic illness rider?

It's an accelerated benefit rider that is triggered by loss of 2 daily functions.

 

[agentjhc]

Available ? And TL as well as UL and WL?

 

[Larry Tew]

Rolls out 4/1. UL and WL so far. They showed slides but no handouts on the specifics.

 

[Guest]

Our Ohio National regional meeting was today. The H.O. underwriter who presented at the meeting showed the breakdown of issued rate classes for 2012.

23% issued SPreferred, I think around 25% issued Preferred. That means that 77% of issued cases were NOT SPreferred. Personally, i would never quote SPreferred of even Preferred. I might quote Select or just give a range of expected premum.

If a client appears in all respects Preferred Plus or Preferred, that's what I quote, mainly to ward off all the greedy competitors that quote everyone Preferred Plus...and worry about placing the policy later. I always put a disclaimer paragraph in my e-mail quote that it is based on my best analysis of the health history given, but the final decision will be made by the underwriter, after evaluating the mini exam, any medical records and other risk factors.