Problems with Exams / Labs and Medical records? – Yes!
Solutions? – Absolutely!
Please read.
ISG Advisors,
The biggest obstacle we have right now in underwriting life insurance is getting examiners willing to go see our customers and our customers willingness to let an examiner come to them.
Secondly, obtaining medical records on our clients in a timely manner is also a challenge due to Dr’s offices being closed, short staffed or overwhelmed with patients concerned that they may be sick.
There are solutions to both problems. Our case manager is being overwhelmed with phone calls and emails about why the above items are taking so long. To the point, that her time is spent explaining the above and she’s not able to do her daily duties of getting policies issued, which results in both you and I getting paid.
In regard to getting around paramed exams and labs (on some cases, not all), we have two programs that guarantee no exams, nor labs, but rather underwriting off of phone interviews, prescription background checks and possible medical records.
S.B.L.I. (Savings Bank Life Insurance of Massachusetts)
* Ages 18-60
* Face amounts of $100,000 – $500,000
* 10, 15, 20, 25 or 30 year level term
* All risk classes are available
* Electronic Application and electronic policy delivery!
Pacific Life
* Ages 50 – 69
* Up to $1,000,000 of face amount
* All risk classes available
* Must have had a comprehensive physical and blood work within the past 18 months
* Electronic Application and electronic policy delivery!
On larger cases and older applicants, it’s almost a certainty that underwriters will request medical records. There’s just no way around that. We are at the mercy of the copy services that these facilities use to get those records. The only way that I am aware of to combat this, is to have the client attempt to obtain their medical records for us. Once we notify you of the specific Dr. that we need records from, many times your client can call the Dr’s office and ask for a copy of their exams, or they can access their patient portal and download them.
We can get through these tough times if we just work together. Please reach out to any of the ISG staff if you have questions or need quotes. We are here for you!
Stay Safe and Make it a Great Day!
Cliff