Underwriting?!

[Jessica Durphy]

I am selling a lot of Med. Supps up here in Pa.. the more I get into this the more I love it! BUT, as you do with the elderly crowd, you run into a lot of health issues.... If underwriting is pretty much the same across the board, why is that one company will accept you if you can "fog a mirror" yet another company will not accept you if you have emphysema or had a hip replacement 3 years ago?

I've read on here that AARP will accept you no matter what...or with only a few acceptions. But New Era, Gerber, or any other compnay that I have been appointed with denies a senior with such problems as listed above!

Back in April, I spoke with a lady yesterday, she and her husband got a Med. Supp from Bankers Life (plan J)... now she had Spinal Stenosis Surgery 3 years ago, hip replacement 2 1/2 years ago (not due to a disease), and she has COPD (not being treated for... under control... she was told 10 years ago that she had it), but according to the underwriting SHE WILL BE A DENIAL!!! Obviously, I will tell her to just stay with Bankers, but she's paying 190.00 a month for it, where I can get her into a plan F with Gerber for $135.00 a month..

Just curious what you fellas do?? How do you handle her question about... Why did they accept me and nothing has changed in my health since April... but you won't! Her husband is a wonderful candidate.. he's as healthy as a 74 year old can be... i know I can help him, I just hate that I can't help her as well!!!

any comments or suggestions will be appreciated!

 

[Russ]

I am selling a lot of Med. Supps up here in Pa.. the more I get into this the more I love it! BUT, as you do with the elderly crowd, you run into a lot of health issues.... If underwriting is pretty much the same across the board, why is that one company will accept you if you can "fog a mirror" yet another company will not accept you if you have emphysema or had a hip replacement 3 years ago?

I've read on here that AARP will accept you no matter what...or with only a few acceptions. But New Era, Gerber, or any other compnay that I have been appointed with denies a senior with such problems as listed above!

Back in April, I spoke with a lady yesterday, she and her husband got a Med. Supp from Bankers Life (plan J)... now she had Spinal Stenosis Surgery 3 years ago, hip replacement 2 1/2 years ago (not due to a disease), and she has COPD (not being treated for... under control... she was told 10 years ago that she had it), but according to the underwriting SHE WILL BE A DENIAL!!! Obviously, I will tell her to just stay with Bankers, but she's paying 190.00 a month for it, where I can get her into a plan F with Gerber for $135.00 a month..

Just curious what you fellas do?? How do you handle her question about... Why did they accept me and nothing has changed in my health since April... but you won't! Her husband is a wonderful candidate.. he's as healthy as a 74 year old can be... i know I can help him, I just hate that I can't help her as well!!!

any comments or suggestions will be appreciated!

Some companies just have tougher underwriting then others. That's just the way it is. I wouldn't phrase it like what I just typed, to your potential client, but you get the drift.

I wrote a husband and wife med-supps yesterday. Wrote her MoO(open enrollment), but had to write him AARP because of his health situation and the fact he didn't qualify for open enrollment or guarantee issue. The only question AARP asks in Florida is related to kidney dialysis.

It's like that on final expense apps. as well, with different companies.

 

[VaDwayne]

I am selling a lot of Med. Supps up here in Pa.. the more I get into this the more I love it! BUT, as you do with the elderly crowd, you run into a lot of health issues.... If underwriting is pretty much the same across the board, why is that one company will accept you if you can "fog a mirror" yet another company will not accept you if you have emphysema or had a hip replacement 3 years ago?

I've read on here that AARP will accept you no matter what...or with only a few acceptions. But New Era, Gerber, or any other compnay that I have been appointed with denies a senior with such problems as listed above!

Back in April, I spoke with a lady yesterday, she and her husband got a Med. Supp from Bankers Life (plan J)... now she had Spinal Stenosis Surgery 3 years ago, hip replacement 2 1/2 years ago (not due to a disease), and she has COPD (not being treated for... under control... she was told 10 years ago that she had it), but according to the underwriting SHE WILL BE A DENIAL!!! Obviously, I will tell her to just stay with Bankers, but she's paying 190.00 a month for it, where I can get her into a plan F with Gerber for $135.00 a month..

Just curious what you fellas do?? How do you handle her question about... Why did they accept me and nothing has changed in my health since April... but you won't! Her husband is a wonderful candidate.. he's as healthy as a 74 year old can be... i know I can help him, I just hate that I can't help her as well!!!

any comments or suggestions will be appreciated!

It is the COPD that is getting you. Most companies only look back 2 years on the surgeries, but COPD doesn't go away, it will probably get worse and require oxygen.There are not many 80-90 year olds with COPD, if you get my point.

Some people are just uninsurable, and there is not anything you can do about that. Unfortunately, AARP is probably just as expensive as the Bankers policy.

I would change game plans and concentrate on how much you can save both of them if you only write his. Something that I have learned is that you don't quote them how much they can save per month, but toal it for the entire year. If you can save them $60 a month, say I can save you $720 per year.

I will get flack for this, and I'll admit that is not the route I would take,unless necessary, but if she is paying $190, he is probably paying $220 or more.$220 X 12 months = $2640 per year. If they are strapped for cash, he could get a $0 premium MA and save over 2000 a year, and if he needed to go into the hospital he would have an out of pocket with the MA maxed out at 3000-3250 per year. Not a lot of risk for him, but I would only do this if he can't afford his Med Supp.

If he doesn't go into the hospital for 3 years he saved $2640 X 3years, which totals $7920, more if his premium is higher than $220. Only do this if he can't afford his supplement!!!

 

[Jessica Durphy]

VaDwayne: I think I'd agree with you on the MA... but in our area, the High Deductible MA isn't available. Some folks, just have nothing good to say about a MA.. he is one of those fellas! I'm certain I can save him money, with her on the other hand, I'll just suggest she don't change, unless she would like to get into a MA... I don't know as I'll even suggest it to her, SOA forms, naaaaah, don't think so! She will be happy with the fact that I'm going to save them money! Who wouldn't like to find out that they just pocketed $60.00 a month?! I would!!!

Thank you Russ for your words, I guess I knew that, it just doesn't make sense, you know?! My boss told me that he never has to worry about me taking advantage of the Seniors... he had a fella before who did.... he said what he's going to worry about with me is "I get too attached! I want to help them so bad that I'll do just about anything!".... he told me one good thing about that is I'll find myself listed in a lot of Seniors wills or the beneficiary on their Life insurances.... don't know about that, hasn't happened yet!!!! I never had grandmomma's or grandaddy's, so now I have lots of them!!!!

 

[Russ]

VaDwayne: I think I'd agree with you on the MA... but in our area, the High Deductible MA isn't available. Some folks, just have nothing good to say about a MA.. he is one of those fellas! I'm certain I can save him money, with her on the other hand, I'll just suggest she don't change, unless she would like to get into a MA... I don't know as I'll even suggest it to her, SOA forms, naaaaah, don't think so! She will be happy with the fact that I'm going to save them money! Who wouldn't like to find out that they just pocketed $60.00 a month?! I would!!!

Thank you Russ for your words, I guess I knew that, it just doesn't make sense, you know?! My boss told me that he never has to worry about me taking advantage of the Seniors... he had a fella before who did.... he said what he's going to worry about with me is "I get too attached! I want to help them so bad that I'll do just about anything!".... he told me one good thing about that is I'll find myself listed in a lot of Seniors wills or the beneficiary on their Life insurances.... don't know about that, hasn't happened yet!!!! I never had grandmomma's or grandaddy's, so now I have lots of them!!!!

Treat them right and they'll refer you to others. Maybe the best source of prospects.

Some of the med-supp clients I've got have become like family to me.

Good luck with your business. Sounds like you're on the road to success!

 

[Jessica Durphy]

AWWWW thank you Russ! they have every emotion/ smilies... except a kiss one.... *... thank you again! I really appreciate it! I am having a lot of success, for being brand new! I've got 35 appointments within the next 3 weeks, and it's because of hard work and referrals...

 

[Frank Stastny]

Back in April, I spoke with a lady yesterday, she and her husband got a Med. Supp from Bankers Life (plan J)...

There may be a glimmer of hope.

[FONT=&quot]The rules as they apply to the new Standardized Plans allow, but do not require, the insurance companies to offer existing policyholders the opportunity to exchange their current policy for a new standardized plan without medical underwriting. However, to get a modernized 2010 standardized policy without underwriting depends on whether or not the company chooses to make that offer. It appears that Medicare is leaving that decision up to each individual company.[/FONT]

Plan J is not going to be offered as part of the new Standardized Plans. Although current Plan J seniors do not have to change, they can keep Plan J forever, Bankers or other companies may offer a period of GI to move to another plan.

We probably won't know what companies are going to do with the New Standardized Plans until after the first of the year.

 

[Jessica Durphy]

WELL that is good to know! Do you happen to know what other plans will not be offered?

 

[Russ]

There may be a glimmer of hope.

[FONT=&quot]The rules as they apply to the new Standardized Plans allow, but do not require, the insurance companies to offer existing policyholders the opportunity to exchange their current policy for a new standardized plan without medical underwriting. However, to get a modernized 2010 standardized policy without underwriting depends on whether or not the company chooses to make that offer. It appears that Medicare is leaving that decision up to each individual company.[/FONT]

Plan J is not going to be offered as part of the new Standardized Plans. Although current Plan J seniors do not have to change, they can keep Plan J forever, Bankers or other companies may offer a period of GI to move to another plan.

We probably won't know what companies are going to do with the New Standardized Plans until after the first of the year.

Doesn't that refer to switching within the same company only?

She's talking about trying to switch them to another(one of her) companies.

 

[Jessica Durphy]

Guaranteed Issue (GI) doesn't that mean that someone is loosing coverage due to no fault of their own, or they move out of the area...( say in my area, with some of the companies that I work for Plan J is not offered.....) SOOO if Bankers will no longer offer the plan J in 2010, will that be considered a GI? if that is considered GI then wouldn't be able to get into one of my plans without underwriting!??