“Preparation, Preparation, Preparation”
For the application – Pre application Process
- Set a reasonable expectation for their premiums,
- Less than about 10% of people qualify for Super Preferred rates,
- If during fact finding the client has medical conditions – shop using medical questionnaires,
- Always ask a Preferred Questionnaire to see who qualifies for preferred rates,
- Prepare client as early as possible if suspected rated policy,
- Most rated clients should be applying for permanent plans.
For the Medical Exam
- Complete the medical Part 2 questions yourself when taking app,
- Prepare client on what to expect on the insurance exam,
- Know what is being tested for on blood tests,
- Make certain client does not have tests/ surgery before exam,
- No excessive exercise 24 hours prior to exam,
- Make certain clients are well hydrated – lots of water,
- They should take their medications are prescribed,
- Make a list of medication and doctors/ hospitals consulted,
- Schedule the exam at the clients’ convenience – typically first thing in the morning is best,
- Give client a copy of the Part II medical questions you completed to make the insurance exam easier.
For the Inspection Report of Telephone Interview
- Prepare the client that they may need to have a telephone interview,
- Make certain the client has copy of the medical Part II with them,
- Have the client call the Telephone Interviewer – feel safer,
- Give them examples of questions that may be asked,
- Have them know what financial info they need to share,
- Have a 3rd party financial verification available, like CPA,
For the Senior Exam
- Make certain the client knows the types of questions on senior exam,
- Practice memory recall games is helpful,
- Create a video showing the clients memory and cognitive skills, if needed.
Miscellaneous
- Cover letter with clear description of insurance need/ purpose,
- A description of clients physical, mental and social abilities,
- A description of a typical daily and weekly activities schedule,
- Video CD of the client demonstrating physical ability – if there may be a question on abilities,
- Do NOT do video if client will not look favorable.
Action, Action, Action
- Delays loose cases and loose commissions,
- For Seniors their health can change overnight,
- Do not allow Attorney/ CPA or other types of delays,
- If the client wants to shop, have them pay the issued policy monthly while you shop.
Use the Underwriting Experts
- Avoid other agents from beating your offers,
- Know which companies are best to go to up front,
- Able to analyze the medical situation for underwriting and coordinate with the underwriters