Term Life Broker Question

Discussion in 'Life Insurance Forum' started by RookieYankee, Jul 4, 2015.

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  1. RookieYankee
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    RookieYankee Guru

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    How do you figure out who will be able to approve a certain candidate. I had a guy a while ago that Banner Life declined due to diabetes, stroke and high blood pressure but then a few weeks later tells me he just got approved for Transamerica.
     
  2. Tahoe Ray
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    Tahoe Ray Guru

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    I feel like you post a lot of these...are you consulting your BGA prior to submitting cases?
     
  3. Mattschmidt
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    What an awesome question to ask your upline, or in house Underwriter.

    Don't be shy. Ask them for help...That's why they make 20-30% over rides on you.

    Also, Banner is not always a go to company for people with Diabetes and Circulatory disorders.
     
  4. UW Guy
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    It depends on how bad each issue was. If his exam/labs were terrible by Banner's standards Trans might have been ok with with their own labs or had a higher threshold. As an example- the carrier I work for is a decline for diabetics with a HgA1c of 9.5% or higher. But if that's their only big issue I've had table 3 and 4 offers given.

    It could also be Banner saw his BP with history of stroke and his BP was higher enough that it was a decline for them. Or the sum histories just ganged up for a rating and made a term offer impossible. I can't speak for Banner but if he's over say, it may have been that they could only make a rated WL offer.
     
  5. WinoBlues
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    WinoBlues Guru

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    Was Banner a flat decline or rating or a postpone? Was the TA a rated term or permanent or siwl? I do not know how many tables express has built in but getting a FU TA policy issued in a few weeks with aps after a decline is pretty good. Assuming there was an MIB hit.
     
  6. RookieYankee
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    The guy didn't know any of the details so I plan on asking him once he receives his policy. Banner was a flat out decline. I couldn't believe TA accepted him.
     
  7. WinoBlues
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    WinoBlues Guru

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    First decide if the comp is worth the chase. If it is an older insured or a large face then maybe. Small premium maybe not. remember most companies only pay to T4. I know it is easier said than done. By nature I always want to go back in and knock the other guy out of the house.

    If you get back in take picks of the app and the spec page. See if it was clean cheated or if it was table rated and the face and level period were lowered.

    Very well could be he is not getting what he thinks he is.
     
  8. GreenSky
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    GreenSky Guru

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    That's what she said!

    Too easy! I should be ashamed.

    Rick
     
  9. scagnt83
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    scagnt83 Guru

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    You need to work with a good BGA/IMO to help you with these cases.

    Pinney actually has a health rater that is built into their EZLife quote software. You enter medical info and then it shows you the carriers that will be most accommodating to those conditions. They also have an in-house underwriter who you can run cases by and get recommendations from.

    Also remember that you can look up the UW guides yourself and prescreen clients with different carriers that way. Often a google search will yield the UW guide. The key is to get very detailed answers if a client has a medical condition.

    Also, with Trans, are you sure it wasnt their SI WL product? Often clients do not tell the complete story, especially when they get coverage from another agent.
     
  10. WinoBlues
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    WinoBlues Guru

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    That.

    btw, a public thank you for your guidance recently. As soon as my Winery owner clients get back from their trip you got some California nectar in bound.
     
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