Underwriting taking forever

J2727

Super Genius
152
Term life for a mid-60 year old. Underwriting is taking too long. It's been 2.5 months and was just asked for more info yesterday.

Every few weeks or even a month later, they want something else - more medical records, another APS, etc.

Why doesn't the underwriter just ask for all the doctors the client has seen in the past 5 years and then request an APS and all medical records the FIRST time he looks at the file?

Why is this process so inefficient and illogical?

I know underwriting would be faster for a younger person with no blemishes in their health records, but damn... this is getting ridiculous.

I now understand why people love Final Expense; for the speed of it. And why they stay away from fully underwritten life insurance for older people.
 
UW orders aps from primary and the records come back. Turns out primary Dr. referred to a neurologist. Neurologist records come back. Well he referred to a pulmonary Dr. Etc. It is not an UW problem. Trust me they want this off their desk too. Nothing pisses them off more than an inconclusive 1000 page aps that just triggers another aps.

The problem is client memory or non disclosure. In my experience more often than not non disclosure.
 
In my experience more often than not non disclosure.
I agree with this statement. Not just on life insurance but critical illness policies, and short term health. Clients don't always give all of the needed information to give the right field underwriting decision before we take it to the full underwriting. Definitely creates frustration on all ends.
 
The problem is client memory or non disclosure.

From the FE side of things had a client 2 days ago that only had "2" meds... did a POS interview with the carrier and Nitro was one of many of the undisclosed meds. :shocked: I think my eyes about popped out of my head and rolled across the table when POS agent mentioned it. Needless to say we shut that interview down in a hurry.

People only tell you what they want you to hear.
 
What he said ^^^ and because the doctor's office/service charges the carrier for the records.

The doctor's office charges the carrier for records?
Or you mean the service that the carrier uses to request medical records from the doctor charges the carrier?

The doctor can fax everything to the carrier.

What do you mean?
 
Why not just have a policy of...

anyone over 60, applying for life insurance, and will be fully underwritten, to list all doctors they have seen in the past 5 years, and then request medical records and APS from each doctor.​

This would save so much time.

The carrier doesn't have to do this for younger people, where the majority won't have any health issues.
 
Why not just have a policy of...

anyone over 60, applying for life insurance, and will be fully underwritten, to list all doctors they have seen in the past 5 years, and then request medical records and APS from each doctor.​

This would save so much time.

The carrier doesn't have to do this for younger people, where the majority won't have any health issues.
Because it would cost too much $$$ as I said earlier.
 
The doctor's office charges the carrier for records?
Or you mean the service that the carrier uses to request medical records from the doctor charges the carrier?

The doctor can fax everything to the carrier.

What do you mean?
Per page charges...carrier pays to the doctor's service (records warehousing) or the doctor's office themselves. It is supposed to defray the cost of the office (or doctor's service) providing them, and they can be upwards of 25 cents per page.

A 60 year old can have hundreds of pages of APS...even if issued standard. It can be a huge expense, and thus why we can move exams to another carrier but not the records (unless your BGA pays for them, which is unusual unless the case is huge and everyone is aware of a health condition that will require APS).

The carrier "owns" the records because they paid for them.
 

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