What Percentage People Are Health Class Preferred Plus or Preferred?

[assurevest]

I had a question for the experienced producers on the forum?

What percentage of your Life Insurance clients fall in the Health Classes - Preferred Plus or Preferred?

The reason is that all quotes and ads lead everyone to believe they will get rates applicable for Preferred Plus as a hook, but wondering how many of them get a sticker shock?

Also, how can we avoid this and infuse a dose of reality in the client's mind

 

[WinoBlues]

I had a question for the experienced producers on the forum?

What percentage of your Life Insurance clients fall in the Health Classes - Preferred Plus or Preferred?

The reason is that all quotes and ads lead everyone to believe they will get rates applicable for Preferred Plus as a hook, but wondering how many of them get a sticker shock?

Also, how can we avoid this and infuse a dose of reality in the client's mind

I have no idea on the percentage. Are we talking age 26 or 62?

Yesterday I delivered a P+ deal to a 50 yr old that I quoted Prd. Just submitted three term deals on average age 60 and expect them to come out Prd, Prd & TblII.

The vast majority of my deals are placed because I prequal them pretty well before I quote them. If they are tbl4 I tell them that this is where I think it will come in but could be in this range. It is rare that I show up to a meeting without having an idea of a person's health.

If they ask about an ad they saw on TV, I show them in Compulife or Fexquotes that I have those rates and can quote them. However, this is why they will not get those rates. One of my term deals was quoted Preferred at AIG Direct (I got the replacement illustration), she is diabetic, past cpap and asthma.

 

[assurevest]

I was referring to US since most people on this forum are from US

 

[scagnt83]

NYL used to claim that only around 5%-10% of applicants received P+, 30% P, and the rest St or Rated.

 

[Larry Tew]

For Ohio National 2012 all issued policies:

S-Preferred NS 23%
Preferred NS 24%
Select NS 13%
Std NS 25%
Select Smoker 4%
Std Smoker 5%
Substandard 6%

 

[LGilmore]

One thing to keep in mind is one company's standard is another company's preferred...

There is no set standard to work from as most carriers are slightly different and some are extremely different when establishing classes.

 

[indywithavision]

That's totally right. One preferred is another super preferred is another standard. I like to illustrate based on standard and then offer more coverage if they get preferred, or a lower premium, depending on the client. If you deal with cigar smokers you can get standard or standard plus with prudential.