Royal Neighbor U/W

[nfl72]

I stopped by a DM lead on Thursday. At the door the lady stated she was all set. After 2 to 3 minutes of jostling, I was able to get in. We sat down and she told me she had 2 policies one for 100K and one for 50K. I asked her who the 50 was with and she said Americo. I asked her if it was graded or modified, and she stated she had no idea. I suggested that was something she should know. and asked her if she knew where the policy was. She got up and a minute later handed me the policy. It was with Royal Neighbors, and it was for $10,000. It was written three months ago and did in fact replace Americo.

I took a few minutes going over the policy and then asked her about her health. She was a heavy smoker, on albuterol, with COPD and was taking insulin. She stated she had been taking insulin since she was 13. She is now 63. She has neuropathy and some major eye issues.

The app had all of those questions answered no and she had a preferred policy, non tobacco. I then asked her about the 100K policy. She brought it out and it turned out to be Accidental Death only.

My question is this. I know very little about RN, although I did write them ten years ago, I just never liked their app. How did this policy get approved preferred? Doesn't RN pull a script check or run an MIB?

 

[DonP]

I stopped by a DM lead on Thursday. At the door the lady stated she was all set. After 2 to 3 minutes of jostling, I was able to get in. We sat down and she told me she had 2 policies one for 100K and one for 50K. I asked her who the 50 was with and she said Americo. I asked her if it was graded or modified, and she stated she had no idea. I suggested that was something she should know. and asked her if she knew where the policy was. She got up and a minute later handed me the policy. It was with Royal Neighbors, and it was for $10,000. It was written three months ago and did in fact replace Americo.

I took a few minutes going over the policy and then asked her about her health. She was a heavy smoker, on albuterol, with COPD and was taking insulin. She stated she had been taking insulin since she was 13. She is now 63. She has neuropathy and some major eye issues.

The app had all of those questions answered no and she had a preferred policy, non tobacco. I then asked her about the 100K policy. She brought it out and it turned out to be Accidental Death only.

My question is this. I know very little about RN, although I did write them ten years ago, I just never liked their app. How did this policy get approved preferred? Doesn't RN pull a script check or run an MIB?

Most lenient underwriting in the book . They take insulin and neuropathy . They also take some inhalers . Since he answered no to the questions it was issued preferred . It’s a 2 yr wait but a Gi is too and it’s much more exp .No other company takes that level that I know of . Mostly due to the age she started taking insulin . I use them for insulin, neuropathy and overweight and major heart stuff . Rates are high but they’ll take level .There E-App is awesome with instant decision. I’d never use their paper app . Requires phone interview.

 

[nfl72]

Do you have an app you could post?

I thought insulin use before the age of 30 is a turn down.

the proposed Insured used tobacco in any form in the last 12 months? ❑ Yes ❑ No If any answer to questions 2 through 7 is YES, the Proposed Insured is not eligible for ANY coverage. 2. Is the Proposed Insured currently: a. Hospitalized, in a nursing facility, or receiving Hospice Care? ❑ Yes ❑ No b. Confined to a wheelchair, bed, or using oxygen equipment to assist in breathing? ❑ Yes ❑ No 3. Has a member of the medical profession ever diagnosed or treated the Proposed Insured for Acquired Immune Deficiency Syndrome (AIDS), AIDS Related Complex (ARC), or any immune deficiency disease; or has the Proposed Insured tested positive for the Human Immunodeficiency Virus (HIV)? ❑ Yes ❑ No 4. Has the Proposed Insured ever been diagnosed as having or been treated for: a. Congestive heart failure, or had or been recommended to have an organ transplant? ❑ Yes ❑ No b. Insulin shock, diabetic coma, amputation caused by disease, or taken insulin shots prior to age 30? ❑ Yes ❑ No c. Dementia, Alzheimer’s Disease, or mental incapacity? ❑ Yes ❑ No 5. During the past 18 months has the Proposed Insured been diagnosed as having: a. Stroke, aneurysm, cardiomyopathy, or circulatory surgery? ❑ Yes ❑ No b. Angina (chest pain), heart attack or failure, or heart surgery? ❑ Yes ❑ No 6. During the past 24 months, has the Proposed Insured been diagnosed as having, or been treated for: a. Internal Cancer, Melanoma, or Leukemia? ❑ Yes ❑ No b. Cirrhosis, liver disease, kidney failure (including dialysis), chronic kidney disease, or systemic lupus? ❑ Yes ❑ No 7. During the past 18 months, has the Proposed Insured been diagnosed as having: a. A condition expected to result in death within 12 months? ❑ Yes ❑ No b. Been advised by a medical professional to have any diagnostic testing which has not been completed or for which the results have not been received? ❑ Yes ❑ No c

 

[jdeasy]

I stopped by a DM lead on Thursday. At the door the lady stated she was all set. After 2 to 3 minutes of jostling, I was able to get in. We sat down and she told me she had 2 policies one for 100K and one for 50K. I asked her who the 50 was with and she said Americo. I asked her if it was graded or modified, and she stated she had no idea. I suggested that was something she should know. and asked her if she knew where the policy was. She got up and a minute later handed me the policy. It was with Royal Neighbors, and it was for $10,000. It was written three months ago and did in fact replace Americo.

I took a few minutes going over the policy and then asked her about her health. She was a heavy smoker, on albuterol, with COPD and was taking insulin. She stated she had been taking insulin since she was 13. She is now 63. She has neuropathy and some major eye issues.

The app had all of those questions answered no and she had a preferred policy, non tobacco. I then asked her about the 100K policy. She brought it out and it turned out to be Accidental Death only.

My question is this. I know very little about RN, although I did write them ten years ago, I just never liked their app. How did this policy get approved preferred? Doesn't RN pull a script check or run an MIB?

Not only is RNA way overpriced that app was clean sheeted. Insulin before age 30 is a decline. COPD is graded.

 

[nfl72]

No need to worry, I replaced it!

 

[jdeasy]

No need to worry, I replaced it!

I hear that’s a bad thing.

 

[nfl72]

My first gig in the insurance business was back in 1979 I worked for Combined Insurance. Back then it was all about Amendments. Adding more coverage to what they already had. It was an easy sell. Just like replacing fraudulent FE policies today.

25 years ago, the insurance industry had a good reputation. Now with all the ex-car salesmen, Kirby vac guys and F&I idiots selling Insurance, we are looked upon as glorified carnies. Fraudulent FE policies are everywhere. You just have to be able to get in the house, convince them to go find the policy and then the fun begins!

 

[DonP]

It is a decline . Yours is graded just like her’s. Question . Would you have replaced with a graded if it were over 2 yrs old ?

 

[nfl72]

I am not sure what you're referring to. Her policy was not graded it was preferred, with no waiting period, Full coverage from day one, non-tobacco.

Her existing policy is clearly fraudulent. My understanding is there is no statute of limitations when fraud is involved. Whether the company would fight it after 2 years or not is up for debate. The fact it was approved non-tobacco, on its own, could nullify the policy.

Her policy with RN should never have been issued. It should have been a turn down. In Michigan I run into this all the time. Usually with Banker's Life , TRUE Stage, AARP or LH etc.

 

[nfl72]

you stated,

"It is a decline . Yours is graded just like her’s."

not sure what you mean, sorry