Long Term Care Update for February 2014 - News You Can Use – Let’s Get Down to Business

[Arthur Rudnick]

Jack,
Just curious.....

I'm not sure how much Genworth business you do, but can you tell me the approximate % of your applicants that qualified for PCF2 at better than Standard health rates?

And, as far as you know, is the criteria for Standard on PCF2 exactly the same as Standard with PCF?

 

[yankee466]

I've had some instances where the GNW paramed labs are coming back with numbers that look like severe liver disease (ALT/GGT off the chart)......only to be refuted by recent prior labs from the doctor and immediate subsequent retests by the doctor. Almost like the lab samples are getting contaminated. That really freaks out the client when it happens. The GNW status person says she has seen this a lot lately.....so not sure what is causing it. Curious if anyone else has encountered this.

Else...since the rating is now Preferred best, Preferred, Select, Standard with PCF2, most of my clients are coming in at Select and Preferred. I only quote Select. The only client so far who was ever Standard (as applied) with Genworth was a smoker .....since all smokers are Standard with PCF2...which is like a "class 1" rate with MOO.

 

[ltcadviser]

Jack,
Just curious.....

I'm not sure how much Genworth business you do, but can you tell me the approximate % of your applicants that qualified for PCF2 at better than Standard health rates?

And, as far as you know, is the criteria for Standard on PCF2 exactly the same as Standard with PCF?

Standard on old product is basically Select on PC Flex 2. I have had people I quoted Select to get Preferred. Everyone gets better than Standard. I had one smoker get Standard, but husband got preferred plus to outweigh it. The UW cycle seems to take a lot longer now for me though.

 

[Arthur Rudnick]

Here's the answer from a Head Underwriter at Genworth regarding family history.

Also is the % by health classes issued company-wide on PCF2.


"The only time we wouldinvestigate in regard to family history is when both parents have ahistory of dementia. For ages 18-59 we would do a phone EMST(cognitiveassessment). Age 60+ we always get a functional/cognitive assessment donebecause of age. We don’t routinely order APSs if both parents havediabetes or CAD".

Preferred Best: 33%
Preferred: 23%
Select: 34%
Standard: 10%

 

[TriciaS]

As far as the underwriting time being longer, my experience has been the clients are slow in doing the paramed. Agents don't realize NOTHING else is done until the paramed is done. GNW doesn't have the name of the Dr to order records from. (And Genworth systems are still slow) so if it takes 3-4 weeks to do the paramed, we then have to wait 4-6 weeks for records to be ordered, after that. Example, I had a case submitted December 1, the client told the paramed they wanted to wait until after New Year to do the exam! They finally did it on 1/14 That was 6 weeks of delay.

 

[CALTCAgent]

Agents don't realize NOTHING else is done until the paramed is done. GNW doesn't have the name of the Dr to order records from. (And Genworth systems are still slow) so if it takes 3-4 weeks to do the paramed, we then have to wait 4-6 weeks for records to be ordered

I am not folowing this.


Are you saying GNW waits until the paramed is done to order the APS?

 

[yankee466]

I am not folowing this.


Are you saying GNW waits until the paramed is done to order the APS?

Yes......There is no medical information on the GNW application any more other than a few knock out questions.....so they have to wait for the paramed results and medical questionnaire to be completed by the examiner to find out who the doctors are. It slows everything down. They look to make sure the labs look good...and if the labs are bad, they will just decline on the spot and NEVER order medical records. Then you really have a fight on your hands when the doctor records refute the paramed lab results.

 

[CALTCAgent]

Yes......There is no medical information on the GNW application any more other than a few knock out questions....

This must not have reached CA yet.

so they have to wait for the paramed results and medical questionnaire to be completed by the examiner to find out who the doctors are. It slows everything down.

As if it didn't take long enough.

They look to make sure the labs look good...and if the labs are bad, they will just decline on the spot and NEVER order medical records.

More hurdles than ever.

 

[yankee466]

Family history will only make it harder.


Carriers have been using the underwriting concept of "individual consideration" for many years. This means they will decide based on many factors. That means someone must make a decision based on factors that are not black and white.

Bottom line, a poor family history will not help you get accepted, IMO.

Speaking of memory issues.......you might like the following LTC video:

https://www.youtube.com/watch?v=HzSaoN2LdfU&feature=youtube_gdata_player

 

[wc2624]

I am not folowing this.


Are you saying GNW waits until the paramed is done to order the APS?

They can't order medical records from doctors they have no awareness of. The PCII app has no doctor info included. It's all done at the paramed.