Rejected for LTC

[Mr_Ed]

The John Hancock and Lincoln Financial hybrid plans have minimal underwriting. I've gotten clients set up with these that were otherwise ineligible for regular LTC.

There are some who can't qualify for the hybrid products but can qualify for traditional LTC insurance.

 

[CALTCAgent]

The John Hancock and Lincoln Financial hybrid plans have minimal underwriting. I've gotten clients set up with these that were otherwise ineligible for regular LTC.

Could you give us the case examples of the conditions and medications that your clients took in these cases you were able to get them accepted with the hybrid that were ineligible for regular LTC?

I have always found the hybrid to be as hard as regular LTC, possibly harder, plus the Life underwriting on top of the LTC.

I have found the hybrid products very non specific in the underwriting guidlines. Been told, "give it a shot" type of statements when trying to pre-qualify cases by underwriters for these products.

I would really like to know where there are some opportunities in "relaxed" LTC underwriting with the hybrid products.

Thanks!

 

[pmgannuities]

This should help. Genworth has there new LTCA but that is full UW. I can send you more info if needed.

Thanks
Joe Santore


MONEYGUARD

® RESERVE PRE-QUALIFYING TOOL​

​

​

Clients who have not been previously declined for long-term care coverage (by Lincoln or any other carrier) and can answer "NO" to
ALL of the following questions are good candidates for ​

​

MoneyGuard®. All others should be directed to alternative solutions.

(Note: This form is to be used as a reference for you and does not need to be submitted to Lincoln.)
NOTE: If your client has any surgery scheduled in the next two months, or if he/she has recently been advised to have surgery, you
should wait to submit the case until the client is at least three months post-operation, fully recovered, back to 100% full activity, and
released from doctors' care.
​

​

Has your client ever been diagnosed with: Alzheimer's Disease or Dementia, or taking any medication for memory loss? Emphysema, chronic obstructive pulmonary disease (COPD) or congestive heart failure? Parkinson's Disease, Multiple Sclerosis or Muscular Dystrophy? Rheumatoid Arthritis or taking methotrexate, prednisone, enbrel or remicade for joint pain? Osteoporosis that is untreated or with a history of compression fractures or height loss of two inches or more? A Stroke or Transient Ischemic Attack (TIA) within the last 24 months or heart attack, heart or carotid artery surgery
within the last 6 months?​

​

​

Cancer (other than non-melanoma skin cancer) within the last 6 months? Type 1 diabetes? ​

​

​

Currently being treated for a medical condition or having medical treatment, a pending consult or surgery
recommended but not yet completed?On dialysis? Using Oxygen for any reason? The recipient of an organ transplant? ​

​

​

Use a cane of any variety, walker or wheelchair on a regular or intermittent basis? Take any narcotic drug or prescription pain medication on a regular basis? Have an implantable defibrillator? Currently collect disability benefits? Have a handicap parking permit? ​

Clients who can answer "No" to all questions are good candidates for MoneyGuard Reserve.
​

- - - - - - - - - - - - - - - - - -

Could you give us the case examples of the conditions and medications that your clients took in these cases you were able to get them accepted with the hybrid that were ineligible for regular LTC?

I have always found the hybrid to be as hard as regular LTC, possibly harder, plus the Life underwriting on top of the LTC.

I have found the hybrid products very non specific in the underwriting guidlines. Been told, "give it a shot" type of statements when trying to pre-qualify cases by underwriters for these products.

I would really like to know where there are some opportunities in "relaxed" LTC underwriting with the hybrid products.

Thanks!

Do you have some time to talk? Lincoln would be a great fit.

 

[Mr_Ed]

This should help. Genworth has there new LTCA but that is full UW. I can send you more info if needed.

Thanks
Joe Santore


MONEYGUARD

® RESERVE PRE-QUALIFYING TOOL​

​

​

Clients who have not been previously declined for long-term care coverage (by Lincoln or any other carrier) and can answer "NO" to
ALL of the following questions are good candidates for ​

​

MoneyGuard®. All others should be directed to alternative solutions.

(Note: This form is to be used as a reference for you and does not need to be submitted to Lincoln.)
NOTE: If your client has any surgery scheduled in the next two months, or if he/she has recently been advised to have surgery, you
should wait to submit the case until the client is at least three months post-operation, fully recovered, back to 100% full activity, and
released from doctors' care.
​

​

Has your client ever been diagnosed with: Alzheimer's Disease or Dementia, or taking any medication for memory loss? Emphysema, chronic obstructive pulmonary disease (COPD) or congestive heart failure? Parkinson's Disease, Multiple Sclerosis or Muscular Dystrophy? Rheumatoid Arthritis or taking methotrexate, prednisone, enbrel or remicade for joint pain? Osteoporosis that is untreated or with a history of compression fractures or height loss of two inches or more? A Stroke or Transient Ischemic Attack (TIA) within the last 24 months or heart attack, heart or carotid artery surgery
within the last 6 months?​

​

​

Cancer (other than non-melanoma skin cancer) within the last 6 months? Type 1 diabetes? ​

​

​

Currently being treated for a medical condition or having medical treatment, a pending consult or surgery
recommended but not yet completed?On dialysis? Using Oxygen for any reason? The recipient of an organ transplant? ​

​

​

Use a cane of any variety, walker or wheelchair on a regular or intermittent basis? Take any narcotic drug or prescription pain medication on a regular basis? Have an implantable defibrillator? Currently collect disability benefits? Have a handicap parking permit? ​

Clients who can answer "No" to all questions are good candidates for MoneyGuard Reserve.
​

- - - - - - - - - - - - - - - - - -


Do you have some time to talk? Lincoln would be a great fit.

This is why I say that it is usually easier to qualify for traditional LTCi rather than a Life/LTC product.

More than half of those conditions which would disqualify someone from the MG product can be insured with a traditional LTCi product.

 

[CALTCAgent]

This should help. Genworth has there new LTCA but that is full UW. I can send you more info if needed.

Thanks
Joe Santore


MONEYGUARD

® RESERVE PRE-QUALIFYING TOOL​

Do you have some time to talk? Lincoln would be a great fit.

Hello Joe,

You are obviously pitching a product and I don't have a problem with that. I do feel however you didn't answer my question and gave me readily available information that does not help much or answer my question, which I do feel a person should know if pitching a product.

The pre-qualifying tool only tells me who is a candidate to apply. I need to know examples of who is going to be a good candidate for acceptance when "traditional" LTC would decline. An agent needs to know more than who can apply. Many times you only get 1 shot. Lots of time, effort & energy goes into applying and an agent needs a high degree of certainty based on what they know about a persons health already that they can be accepted.

Once again my question is who can get accepted by Moneyguard/hybrid LTC that won't generally get accepted by traditional LTC?

I would like real world cases where a person didn't meet the guidlines for traditional LTC but were accepted for a hybrid.

Thanks!

 

[CALTCAgent]

I guess "PMGannuities" has decided he better not answer!