Last week, I made a bold statement that EVERYONE wants the “layup” business where the clients are in good health and can be moved through underwriting based upon a phone interview. It’s true – anyone can do that.
What is also true is that OneAmerica chooses to offer solutions to more people because OneAmerica is WILLING to underwrite and work to find a solution.
In this week’s LTC Coffee Break, we shared an excerpt of our conversation about underwriting and rated cases. Check it out.
Here are a few nuggets that will help you when you encounter a less than perfect client where “streamlined” or “expedited” underwriting is unlikely.
- If you know for certain that there is a health issue, submit a Pre-Underwriting Inquiry to assess the situation and get an idea what product might be available and if there is potential for a rating.
- Heed the advice from our underwriters and submit a full application and forego the phone interview. It will save time.
- When you submit the application, include the pre-underwriting inquiry response as well as a cover letter explaining any details that might assist the underwriters. Remember, if it is in the client’s health record, it will likely appear in an MIB report.
- Spend time with the client and explain that the underwriting process is likely to take a bit of time if attending physicians statements are involved.
Remember, Asset Care can be rated to 8 tables. And, if that is not a possibility, underwriters will automatically look at the case through the Annuity Care lense in an effort to find a solution.
At OneAmerica, we want to earn your business through underwriting.
Give me a call with your next asset based LTC case, you can contact me via email at email@example.com or call me at (678) 512-9627.
Connecticut agents – remember, on August 25 at 10 a.m. at the Hartford Club (46 Prospect Street, Hartford CT), you can join Michael Florio and me when we reintroduce the only deferred annuity product approved in Connecticut that offers tax-free long term care benefits … Indexed Annuity Care
You can register by scanning or clicking on the QR code.
Included will be CE, parking, refreshments, and the opportunity to learn about the best kept secret in long term care funding.