TIA Decline and Other Questions

[Guest]

Anyone know of a company that will consider transient ischemic attack within the past 5 years? Client insists it was a minor thing (I know, right). Anyway, decline by Genworth.

This is the second case in a row where we have had the husband approved, wife denied. What do you do if client wants you to shop it? If the one spouse takes the deal while you are shopping other carriers, it seems like the approved spouse will waste premium if they end up switching in case someone else will take the other spouse. You don't want to recommend the approved spouse not take it while shopping in case something happens to him. This wouldn't be an issue except for the spousal discount.

Revisiting LTC, just getting back into it after a few years off focusing on indy health. It is a different animal, I understand it but certainly don't know everything and don't want to steer my clients wrong. Go through a GA, and they are great, but still thought I would ask here.

 

[yankee466]

If only one TIA.....fully recovered.........Mutual/United of Omaha. They will potenitally take a stroke victim if all is ok.

Did you know the person had a TIA when you applied them to Genworth?

 

[Mr_Ed]

Anyone know of a company that will consider transient ischemic attack within the past 5 years? Client insists it was a minor thing (I know, right). Anyway, decline by Genworth.

This is the second case in a row where we have had the husband approved, wife denied. What do you do if client wants you to shop it? If the one spouse takes the deal while you are shopping other carriers, it seems like the approved spouse will waste premium if they end up switching in case someone else will take the other spouse. You don't want to recommend the approved spouse not take it while shopping in case something happens to him. This wouldn't be an issue except for the spousal discount.

Revisiting LTC, just getting back into it after a few years off focusing on indy health. It is a different animal, I understand it but certainly don't know everything and don't want to steer my clients wrong. Go through a GA, and they are great, but still thought I would ask here.

American General, John Hancock, Medamerica, Mutual of Omaha, Transamerica, United of Omaha, etc....



nadm

 

[Arthur Rudnick]

1 tia, without any residuls is ok with most carriers. You need to check the waiting period for each carrier.
2 tias...... and it's over.

Whatever you do, do not cancel the approved spouse' policy. If you want to shop around for the declined spouse that's fine. If the declined spouse gets approved with someone, then take a look where your clients would be better off;
1) Both going with the new company, or
2) Keep each client separate.

The deciding factor would be where are the premiums and the benefits? With 2 carriers you're giving up a part of the partner/spousal discount, however, in spite of that, premiums may still be lower.

Genworth requires a 5 year waiting period for a Tia. You should have checked with them directly. Your "great GA" dropped the ball.

 

[CALTCAgent]

Anyone know of a company that will consider transient ischemic attack within the past 5 years? Client insists it was a minor thing (I know, right). Anyway, decline by Genworth.

This is the second case in a row where we have had the husband approved, wife denied. What do you do if client wants you to shop it? If the one spouse takes the deal while you are shopping other carriers, it seems like the approved spouse will waste premium if they end up switching in case someone else will take the other spouse. You don't want to recommend the approved spouse not take it while shopping in case something happens to him. This wouldn't be an issue except for the spousal discount.

Revisiting LTC, just getting back into it after a few years off focusing on indy health. It is a different animal, I understand it but certainly don't know everything and don't want to steer my clients wrong. Go through a GA, and they are great, but still thought I would ask here.

If your GA was "great", they could answer these questions.

 

[ltcadviser]

Don't think of it as "wasting premium" while you get an approval for the spouse. You should look at it as protecting her insurability.

 

[Guest]

If only one TIA.....fully recovered.........Mutual/United of Omaha. They will potenitally take a stroke victim if all is ok.

Did you know the person had a TIA when you applied them to Genworth?

No, they didn't disclose this until application.
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If your GA was "great", they could answer these questions.

Gee thanks. I mentioned I wanted outside advice in my original thread, but feel free not to offer any suggestions.
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Don't think of it as "wasting premium" while you get an approval for the spouse. You should look at it as protecting her insurability.

Thanks, we are certainly recommending the spouse stay insured, one is better than none! He is still in underwriting.

 

[CALTCAgent]

Gee thanks. I mentioned I wanted outside advice in my original thread, but feel free not to offer any suggestions.
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I'd stop thinking your GA is "great". I'd look for a new one if they can't easily answer these type of questions. I think too many GA's don't do the job they should. We as agents should not reward them and think they are great. IMO.

 

[Arthur Rudnick]

Runner,
Don't misread the advice given.....................
The answers were due to your comment:
".......go through a GA and they are great"

A good GA should have known that Genworth will not consider someone with a TIA within 5 years. Every carrier has a toll-free # for pre-qualifying an applicant. Every carrier has a hard-copy and online underwriting guide. That app should never had been submitted.

If you found out about the TIA when you were filling out an app, you should have called Genworth direct, or if after hours, you should have rescheduled the appointment until your prospect was properly pre-qualified.

The declined applicant is pissed at both you & Genworth, the spouse is also unhappy. You now find yourself in a position of losing 1 applicant and possibly 2.

We all learn by our mistakes and in this business, sometimes mistakes like this are costly.

 

[ltcadviser]

No, they didn't disclose this until application.
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Gee thanks. I mentioned I wanted outside advice in my original thread, but feel free not to offer any suggestions.
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Thanks, we are certainly recommending the spouse stay insured, one is better than none! He is still in underwriting.

Good job. I am sure that you will be able to get both of your clients approved in a matter pf a few weeks.