We have all dealt with clients who are not in the best health. There are times we might even dismiss discussing coverage as we sit down with them and they list off their medical history and medications they are taking.
Never say never.
We just received a Table-B on a case where the client is currently being treated for prostate cancer.
I repeat, HE CURRENTLY HAS PROSTATE CANCER. This gentleman has a current Gleason score of 6 and a current PSA of 8.4 and he was approved Standard Non-Smoker Table B.
We are also working on a case for a gentleman who had been diagnosed with Diabetes Type 2 several years ago. Until a few months ago he was managing his A1C levels with diet and exercise. Unfortunately, it was not working and he was forced to begin taking medications. He currently has an A1C of over 9 and only two months history on medications.
We are currently looking at a tentative offer at Table-D.
While these cases may not be the rule, they are certainly not exceptions.
A few tips for submitting and placing sensitive cases:
- Communicate. Let us know that there may be some issues during the underwriting process.
- Inform. Give us as much detail as you can about your clients’ specific situation. Dates, doctors, and drugs are a good place to start.
- Be honest. If a carrier believes there is any deception during the application process, they are far less likely to work with us during the underwriting process.
- Manage expectations. Not every case will ultimately be approved and/or some may be approved at rates that are not in the client’s budget. It is important to be upfront with the client that this may occur. When a decision is finally made there are always options available to changing the coverage type and face amount, if necessary. In other situations there may be opportunities for switching carriers as well.
As Emma Lazarus might say if she owned a BGA:
Give us your sickly, your poor healthed,
Your huddled masses yearning to breathe through a CPAP,
The wretched refuse of your teeming shore (tentatively based on per-country guidelines).
Send these, the uninsured, overmedicated to me,
I lift my pen to the mighty underwriter!