Declined

[Mavrik]

So I had a case this morning that seemed like smooth sailing with one of my primaries right up until the question about whether he had applied for insurance in the past. The phone interviewer wouldn't go into detail with me after denying but since she re-asked that question twice again at the end of the interview, I knew there was trouble.

The prospect looked completely perplexed and went on to deny ever applying for any type of life insurance in any way. In fact, he explained that everyone in his community received mail about insurance all the time but my DM piece was the first time he's ever replied. I followed up with a call to a contact I have in underwriting and was told that even though he is perfectly fine medically, there was nothing could be done because he had exceeded the threshold for applications in the past 18 months. Unfortunately, he had another appointment at the bank so we weren't able to do anything further today so I rescheduled for later in the week.

He's concerned so I explained that MIB has a record of any applications he's submitted and will gladly provide information about the history they have on file.

How would you proceed?

 

[jdeasy]

So I had a case this morning that seemed like smooth sailing with one of my primaries right up until the question about whether he had applied for insurance in the past. The phone interviewer wouldn't go into detail with me after denying but since she re-asked that question twice again at the end of the interview, I knew there was trouble.

The prospect looked completely perplexed and went on to deny ever applying for any type of life insurance in any way. In fact, he explained that everyone in his community received mail about insurance all the time but my DM piece was the first time he's ever replied. I followed up with a call to a contact I have in underwriting and was told that even though he is perfectly fine medically, there was nothing could be done because he had exceeded the threshold for applications in the past 18 months. Unfortunately, he had another appointment at the bank so we weren't able to do anything further today so I rescheduled for later in the week.

He's concerned so I explained that MIB has a record of any applications he's submitted and will gladly provide information about the history they have on file.

How would you proceed?

I would write him with a company that doesn't ask that question.

 

[Mavrik]

I would write him with a company that doesn't ask that question.

I will get it done if its the only choice. Explaining a $7-9 monthly increase won't be easy because he's upset they are saying he applied for insurance before.

Just curious does anyone know if phone interviewers pull information up by SS# or could they easily mistake two people with the same name/DOB? I've had trouble with this interviewer before.

 

[jacobtn]

I will get it done if its the only choice. Explaining a $7-9 monthly increase won't be easy because he's upset they are saying he applied for insurance before.

Just curious does anyone know if phone interviewers pull information up by SS# or could they easily mistake two people with the same name/DOB? I've had trouble with this interviewer before.

Was this applied through Oxford or Standard? Sounds like one of the two.

 

[175Contract]

THe other distinct possibility is that he has applied for insurance numerous times through direct mail. A lot of people fill out those applications thinking they are requesting information when in fact they are applying.

I know the insured said he has never applied, or responded, but I have seen this happen in the past.

 

[Mavrik]

Was this applied through Oxford or Standard? Sounds like one of the two.

It was Oxford.

The guy seemed to be pretty normal and healthy according to our conversation and his medical history. He denied applying for insurance in any way and seemed genuinely concerned about where the MIB info came from.

I called on the banking information he provided just to rule that out next time I go back and learned he has his SS deposited into a pre-paid debit card account at a local bank. Its not a traditional checking/savings account so they don't allow withdrawal drafts. He referred to it as a bank account and didn't object to me setting up a monthly draft so I'm thinking this might be the cause of his problems in the past if in fact, he did apply before.

He asked me to come back later in the week to see what we can do to figure the whole thing out so now I guess I've got to find a carrier that will draft a pre-paid debit card and won't ask if he's applied in the past. Hopefully its a carrier I'm already contracted to sell because these one off situations are a pain in the arse.

Any suggestions?

 

[jdeasy]

I will get it done if its the only choice. Explaining a $7-9 monthly increase won't be easy because he's upset they are saying he applied for insurance before.

Just curious does anyone know if phone interviewers pull information up by SS# or could they easily mistake two people with the same name/DOB? I've had trouble with this interviewer before.

Why would there be that much increase in premium? Most companies don't ask that question.

That question is the main reason I don't write Oxford.

 

[Mavrik]

Why would there be that much increase in premium? Most companies don't ask that question.

That question is the main reason I don't write Oxford.

I've been using Oxford when talking to healthy people because of their rates. In this case the difference in price is about 10-15%.

Settlers is +$7
Monumental is +$8.60
RNA is +$9.40

 

[jacobtn]

5 Star would probably work, they are going to be one of your only options since he doesn't have a bank account. They will charge the card monthly.

 

[HoosierLife]

5 Star would probably work, they are going to be one of your only options since he doesn't have a bank account. They will charge the card monthly.

He doesn't have a bank account??