free look info on the policy?

trvlnut · 06-09-2007, 01:41 AM

I just received my first policy from GR for a client. I am looking for the free look time-frame. Does someone know where I can find it in the policy?

somarco · 06-09-2007, 08:41 AM

Try the front page . . . big, bold print.

You can't miss it.

Or maybe you can . . .

trvlnut · 06-09-2007, 06:31 PM

Big and Bold?

Not here. I am looking at the front page, where it states, "Agreement and Consideration." Can't see it anywhere. Gotta tell ya, I have read it 3 times.

somarco · 06-09-2007, 08:09 PM

GA policies have it on the very first page, 2 paragraphs above the signature by Patrick Carr.

Since I don't write in AZ I can't help you.

trvlnut · 06-10-2007, 03:01 PM

Thanks Somarco. There is no mention of the free look period on mine. It states that if the first month's premium isn't paid then the policy is void. Since they sent a check in for the first months premium, I guess it isn't void.

I'll call GR tomorrow.

Thanks all.

somarco · 06-10-2007, 03:35 PM

According to this site, MOST policies have a free look. This may not be a requirement, and may not include all policies.

I find that unusual . . .

http://216.239.51.104/search?q=cache...lnk&cd=2&gl=us

Most individual health insurance policies have a “free look”
period, generally from 10 to 30 days, during which they can
be returned for a full refund if you are not satisfied. After that
period you most likely will not be able to get a refund.

salpro22 · 06-10-2007, 04:15 PM

Personally, I feel the need for a 10 free look period to be a waste of time if you are doing things ethically. If you are doing a great job educating your client they should willingly accept the policy with whatever method the insurance carrier requires.

trvlnut · 06-11-2007, 02:07 AM

Quote:

Originally Posted by salpro22

Personally, I feel the need for a 10 free look period to be a waste of time if you are doing things ethically. If you are doing a great job educating your client they should willingly accept the policy with whatever method the insurance carrier requires.

I think I am being ethical. I didn't know she was on meds for HC before she submitted the app. She also has HBP so they put a couple of riders on the policy. The free look is there for her to have a choice whether she wants to accept the policy that includes riders. Why should she have to accept the riders if it's perfectly legal for her to cancel the policy?

I am looking at other carriers to see if they will up-rate her instead. She also qualifies for a portability plan.

salpro22 · 06-11-2007, 09:57 AM

Quote:

Originally Posted by trvlnut

I think I am being ethical. I didn't know she was on meds for HC before she submitted the app. She also has HBP so they put a couple of riders on the policy. The free look is there for her to have a choice whether she wants to accept the policy that includes riders. Why should she have to accept the riders if it's perfectly legal for her to cancel the policy?

I am looking at other carriers to see if they will up-rate her instead. She also qualifies for a portability plan.

Quote:

Originally Posted by trvlnut

I think I am being ethical. I didn't know she was on meds for HC before she submitted the app. She also has HBP so they put a couple of riders on the policy. The free look is there for her to have a choice whether she wants to accept the policy that includes riders. Why should she have to accept the riders if it's perfectly legal for her to cancel the policy?

I am looking at other carriers to see if they will up-rate her instead. She also qualifies for a portability plan.

My comment wasn't directed at you regarding your business ethics. It was directed at the forum. I'm aware of what the free look period is for and still maintain my position. In essence, that is used to make consumers feel warm and fuzzy and also protect insurance companies from future liability, as well as brokers who did not fully divulge certain facts because he or she can say, "they had X number of days to read the policy and then accept the policy based on the insurance companies requirements."

Are you explaining to your clients how the claims review process works?

Frank Stastny · 06-11-2007, 11:03 AM

Quote:

Originally Posted by salpro22

Personally, I feel the need for a 10 free look period to be a waste of time if you are doing things ethically. If you are doing a great job educating your client they should willingly accept the policy with whatever method the insurance carrier requires.

I agree, however, not all agents are as diligent about informing prospects regarding the meaning of all of the "fine print" in a policy. If they were all as responsible as you and others here, agents wouldn't have the "bad name" that is conjured up when one hears, "he's an insurance agent".

What is it that "they" say? "Everyone is BS'ing except you and me and sometimes I'm not too sure about you". hahaha

If I'm not mistaken, it is dictated by the Missouri Dept of Insurance that there must be a 30 day "free look" on all insurance policies.

trvlnut · 06-12-2007, 10:22 PM

Quote:

Originally Posted by salpro22

Are you explaining to your clients how the claims review process works?

Are you talking about the claim appeal process? I haven't spoken about that.

salpro22 · 06-12-2007, 10:37 PM

Quote:

Originally Posted by trvlnut

Are you talking about the claim appeal process? I haven't spoken about that.

I was talking about explaining to clients how insurance company handle claims in relation to pre-existing conditions, as well as the information that may or may not be on the application.

trvlnut · 06-13-2007, 12:20 AM

I do speak about pre-existing conditions to my clients. I do tell my clients about the rules that are involved with those claims involving pre-existing conditions

This client wasn't trying to hide anything. It was an honest mistake. When I went to pick up the app, they pulled out a piece of paper that listed all the meds they were taking. The only meds listed at the time was hormones and HBP meds. Apparently, she had stopped taking HC meds some months prior. After the app was submitted, she was put back on meds.

BTW, I spoke with GR and free look is 20 days

salpro22 · 06-13-2007, 12:34 AM

Quote:

I do speak about pre-existing conditions to my clients. I do tell my clients about the rules that are involved with those claims involving pre-existing conditions

Glad to hear it.

Quote:

This client wasn't trying to hide anything. It was an honest mistake. When I went to pick up the app, they pulled out a piece of paper that listed all the meds they were taking. The only meds listed at the time was hormones and HBP meds. Apparently, she had stopped taking HC meds some months prior. After the app was submitted, she was put back on meds.

I appreciate the clarification that the client wasn't trying to hide anything and I admire the fact you are protecting him/her.

So she stopped taking the meds X number of months prior.......then started taking the meds right around the time the application was submitted. Did she have a pending visit that you did not know about when you submitted the application or did she put herself back on the meds w/out medical advice?

BTW, I spoke with GR and free look is 20 days[/quote]

trvlnut · 06-13-2007, 12:43 AM

When she went to her doc to have the HBP form completed, I believe they checked her cholesterol then. At that point, they put her back on her meds.

I've been working through her daughter because of the language barrier with mom. Her daughter was surprised to hear she was back on the HC meds.

somarco · 06-13-2007, 09:42 AM

GR instituted the HBQ a few months back as a means of finding out additional information about an applicant without a full blown APS. The questionaire asks for a 3 yr BP history along with any meds (not just HBP). It also asks ht & wt, cholesterol & triglycerides, HDL, LDL, blood sugar levels, etc.

Almost like a paramed without the cost.

The good news is this will help GR stay competitive and do a better job of underwriting up front. Leaves less to chance for surprises in the future that could lead to denied claims or rescission . . . an issue some carriers are currently dealing with.

The bad news is it means more delay in underwriting and possibly more riders or declines.

Overall I think it is a good thing.

Did you ask GR where they put the 20 day free look notice? Can't believe it is missing.

trvlnut · 06-13-2007, 03:33 PM

The rep said the 20 day free look notice "must be further back in the policy." I didn't see it. The rep was also surprised that it wasn't on the front page. Maybe they don't want to announce it when there are riders on the policy.