Be Sure That App Is Right
Before You Submit It
Agents probably can reduce long term care policy denials and not-takens if they just take the time to ensure that the clients application is submitted correctly. Many needless delays stem from simple oversights, experts say.
Producers should always take the simple precaution of going over the application with the broker or marketing company before submitting it, advises Julie McClellan, a senior field underwriter with Westland Financial Services, San Diego.
One of the major omissions McClellan sees is overlooking inclusion of the first months premium with the application. Thats a sure way to get the application returned. Also, to avoid surprises, always pre-qualify the applicant as much as possible. If in doubt about an applicants chances for rejection, call the broker or underwriter and ask.
“Get medical data, surgery dates and so on–anything that gives us more information,” McClellan urges agents.
Mark Gebhardt, president, Commercial Markets Insurance Companies Inc., St. Mary, Fla., finds when grilling a client on medical background, its sometimes better not to ask directly what medications the person is on. “A lot of times, the customer is just taking that little pill and forgets to tell youeven though it turns out to be nitro,” he observes. “Instead, ask them what hurts and how they are feeling.”
Some problems stem not from the customer but rather from the agent trying to slip something through, Gebhardt points out. “Be honest, and you develop an excellent reputation with the underwriter,” he counsels. “Otherwise, they get to know you as a consistent problem. So, do it the right way. If it turns out to be a declination, so be it. Take your lumps.”