Submitting Multiple Apps at Once

[AboutThatLife]

I had a client request a fully underwritten application earlier.

I suggested we submit an app to another company just in case this application was declined. The new application asks if they have pending applications, and if you plan on replacing the coverage.

Is it typical to just answer the question no?

 

[goillini52]

I had a client request a fully underwritten application earlier.

I suggested we submit an app to another company just in case this application was declined. The new application asks if they have pending applications, and if you plan on replacing the coverage.

Is it typical to just answer the question no?

How could you not answer yes to having a pending application?

 

[AboutThatLife]

How could you not answer yes to having a pending application?

The follow up questions paralyze me. It's like well I dont know if its going to replace the other policy yet. I mean maybe it will, but maybe it wont you know?

 

[goillini52]

The follow up questions paralyze me. It's like well I dont know if its going to replace the other policy yet. I mean maybe it will, but maybe it wont you know?

Well, if it goes through, will you replace it? They don't always word it the same..,.can be confusing.

 

[Tahoe Ray]

I had a client request a fully underwritten application earlier.

I suggested we submit an app to another company just in case this application was declined. The new application asks if they have pending applications, and if you plan on replacing the coverage.

Is it typical to just answer the question no?

Did you submit both apps simultaneously? Say yes to pending and then just note on the agent report that you have submitted another application to carrier X and that the insured will only be accepting one policy (assuming that's your plan).

 

[AboutThatLife]

Did you submit both apps simultaneously? Say yes to pending and then just note on the agent report that you have submitted another application to carrier X and that the insured will only be accepting one policy (assuming that's your plan).

Thank you. That's exactly what will be happening.

 

[Embraerjetpilot]

I did this recently. I submitted the first one and then the second one. On the second one I did check pending app and then explained customer was shopping to see which company gave him preferred.