Turn Down or Case Rating Hurt Prospects with Other Carriers?

Mar 8, 2016

  1. yorkriver1
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    yorkriver1 Guru

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    I am returning to the life side of insurance. My multiline agency manager has tasked me to look into what the primary carrier can do for a policy to cover the manager.

    There is another proposal on the table, different carrier, don't think it's underwritten yet, and I am concerned that with the health conditions, there could be a rating, most likely, rejection unlikely, unless something turns up.

    What to do? There is really no way to get a good pricing estimate without the full underwriting, that I can see.
     
  2. 1963
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    1963 Super Genius

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    Just about every carrier has underwriting that views specific health issues with different degrees of concern. While diabetes may be considered a rated issue for one carrier, another carrier may issue the same coverage at standard rates. Contact underwriting to find if the issues are going to be rated or standard with that carrier. Also, keep in mind that in some cases with ratings may actually cost less than another carrier's standard premium, though it is usually unlikely.

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    Is there an agent support team available?
     
    1963, Mar 8, 2016
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  3. WinoBlues
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    WinoBlues Guru

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    What 1963 said. I would not just throw a difficult case out to carriers without a pretty good idea of an out come. The size of the case could dictate how far you go, such as getting records or a trail app. At a minimum get the questionnaires filled out for his issues. Then shop him out. Or better yet use a brokerage that will do that for you.
     
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