Long Term Care Insurance Solutions for Agents, Brokers, GA's & BGA's

Pre-Underwriting Saves Sales

Problem

A broker had a client age 58 that had bladder cancer 24 months ago. The client’s BCG treatments had ended 6 months ago. He was looking for Long Term Care Insurance with a brand name carrier and wanted to get it right away as he was dealing with a parent and did not want to wait to get coverage.

Our Solution:

We pre-underwrote the case and found out the following from brand name companies:

• Three would not consider until it had been a year since the last BCG treatment
  • After the year passed two companies would offer a Standard rate at best
  • The third company would consider a Preferred rate after one year.
• We found one company that would accept the insured now at a standard rate

How Plan was implemented:

• We had the broker apply with the company that would issue a standard rate now.
• After the policy was issued we waited 6 months and applied with the one company that would consider a Preferred rate.
• The policy was issued in the Preferred class.

Result & Benefits Provided:

• Client received the coverage he wanted immediately with the first company.
• Although we rarely replace a policy this was what was best for the client as the preferred rate saved them a great deal of premium dollars.
• Due to outstanding service the broker received 6 referrals at time of delivering second policy.