Trying to write my first policy

[GreenSky]

Heck I guess you have to be half a doctor also to be a wonderful perfect agent!

I'm not a real doctor, but I do play one on TV.

Rick

 

[lookin4abetterwayinpa]

I'm not a real doctor, but I do play one on TV.

Rick

And I did stay at a Holiday Inn Express last night.

 

[somarco]

types of things that I do not even know to ask

Some tips.

Take copious notes.

Ask them to spell anything you are not familiar with. This includes meds and illness.

Ask what meds they currently take including dosage. How long they have taken the med and for what condition. Ask if the med or dosage has changed in the last 6 months. (This is especially critical with BP meds).

Then ask if they have been treated for anything else in the last 5 yrs.

Once you have the medical history, look up everything where you do not have a clear understanding.

Such as . . . limpoma or lymphoma.

Once you have an understanding of your clients medical history, you might need to go back and get more details before doing a prescreen. In the case of skin cancer (as an example) you need to know the type of cancer, the size and how it was treated. Was this a first occurrence or repeat?

Same with polyps.

Any abnormal test results must be fully explored.

The more information you have the better job you will do for your client and the less time you will waste submitting apps that will never go anywhere.

 

[ijerome]

If you are going to get past this one, get training and more training. It is usually free, but you need to listen and listen. Start by writing down a brief list of questions, in the above post, and carry it with you on a 3/5 card with the questions in priority order. It may help.

 

[The Rabbi]

It would be better for you to read the application and get familiar with the questions. Then, read the underwriting guidelines the companies make available. Get used to reading brochures and plans and u/w guides. That's why I went to the senior market. Don't have to deal with it. At least I know where to look to get the answers. That's what is important.

 

[moonlightandmargaritas]

If you are going to get past this one, get training and more training. It is usually free, but you need to listen and listen. Start by writing down a brief list of questions, in the above post, and carry it with you on a 3/5 card with the questions in priority order. It may help.

It would be better for you to read the application and get familiar with the questions. Then, read the underwriting guidelines the companies make available. Get used to reading brochures and plans and u/w guides.

Sorry guys, but I have to respectfully disagree. You're putting the cart in front of the horse...

If you don't learn to prospect/market to find prospective new clients, all the rest of this hooey is academic.

We can have all the product and underwriting knowledge in the world, and if we don't have prospects to sell to, we end up like the guy who knew over one hundred different positions to make love in...

Problem was, he didn't know any girls.

 

[Delta76]

That's why joint work is such a great way to get started. You learn immediately the most important skill to succeeding in this business (getting in front of people on a favorable business) and learn the secondary stuff (product knowledge, sales skills, underwriting, ect.) on the job from a pro while getting paid.

A great prospector will make much more money in this business than a great salesman.

 

[Guest]

Go figure.........

I have just gotten my writing numbers (well some of them) and my very first prospect is someone that is a regular at my father in laws restaurant/bar.

(I will need to ask him for more information, what information I have was gotten while I was at the bar so I did not have my guides and since this is my first one I really did not know what to ask, etc., which is luckily ok since this is not your "typical" prospect that you do not know). He is open to both copay and HSA.

He is currently insured through Mega and is paying $400/month. I know usually their premiums are lower then that because they are crap, BUT this prospect is 5'10 and weighs 288 lbs. He does not take any medications. He also said he had a cyst removed from his back last year, but then he said lymphoma tumor.

What questions should I ask about the "tumor"? It looks like Aetna may be the only one he would maybe get through with based on height and weight if nothing else disqualifies him, but then again I am still trying to learn all of the underwriting and may be totally wrong. Oh yea and I forgot to ask his age, ha, go figure. He is around late 40's early 50's.

Any insight on my first prospect which is a HORRIBLE prospect would be wonderful!! (I know I probably will not be able to get him insured, but at least I will learn from this one!)

I also dont think he will be approved on Aetna with his BMI.
You may want to ask if he happens to be a small business owner. Also dont forget to ask about family members that may not have insurance. He may be uninsurable but refer a healthy lead.

 

[ABC]

Your prospect is a good lesson in the under writing process.

There was another post about prospecting. If your prospecting in a bar you might run into these kinds of problems. This is not to say there is not bar clients out there but they do seem to have more problems than other industries. I have a handfull of bar clients on group plans and they always seem to be a challenge.

If your willing to prospect in a bar you might want to try hair salons. When I first started I knocked out a lot of policies in hair salons.

 

[michellea]

Sorry guys, I have been busy and did not see the additional posts.

First off I am not "prospecting" in bars. This person is someone that I have known for a few months and he asked me about plans because he is unhappy with his coverage through MEGA, ha. I told him I would see what I could do. At this point he became a "prospect". I know a HORRIBLE prospect, I am new to this.....so I thought there may be a slight possibility I could find him something since he has current coverage and I knew that if I did somehow find a plan to cover him that his premiums would skyrocket.

In response to me needing to study and read and read and read.......remember everyone has a different learning curve. I am a hands on learner. I do not do well when trying to read and retain tons of information. Give me a situation and I will remember it all. I have no intentions of closing in one call in the beginning. So my plan is to have my needs assessment sheet in front of me to ask questions and then I will let my prospect know that they will have their quotes at (give a time). I will then pull up UW guides if there are health issues and I will go through them to see what is best for the prospect. Since I was not prospecting at the bar I was not prepared. I knew for this particular individual I most likely would not find coverage, but it was worth me asking. I did learn from it.

In fact I know I will learn a lot from him. He is a very successful real estate agent in the area and he has also given me some sales pointers. Not to mention he is going to put me in touch with a lot of other real estate agents!