When my clients save a lot of money, I am happy!
Recently, a client, who is in excellent health, applied for a 15-year term life insurance policy. He had some past medical issues that were a potential obstacle, so I checked with several carriers to find out which ones would offer him the best underwriting classification. We decided on a very strong A+ rated carrier that offered him their best rate contingent upon a review of his medical records,
Many people have high cholesterol levels, which can increase their risk for heart disease and strokes. Life insurance underwriters have traditionally been unwilling to consider offering the best rates to people with high cholesterol readings.
I have had numerous clients with total cholesterol readings well above 220 (the highest acceptable level for many carriers). Many of these clients were advised by their doctors or healthcare practioners to lower their cholesterol by diet and exercise. They were cautioned about the potential negative side effects of cholesterol lowering medication in many cases.
When purchasing a life insurance policy, sometimes the desired result isn’t obtainable. Less than 20% of all applicants qualify for the best underwriting classification. It can be quite upsetting to find out that your rate is substantially higher than what you were originally quoted. However, unfavorable underwriting decisions can often times be challenged — especially in borderline cases. Find out exactly why the Underwriter decided to give you the lower rate class. Your agent should be able to assist you in determining if the decision was borderline or based on inaccurate information.
There are lots of knowledgeable, experienced life and health agents in Georgia. However, there are many, many more unexperienced agents in the marketplace. I would venture to guess that the ratio is 1:10 at best. With our current recession and high unemployment rate, there has been a huge influx of people entering the insurance industry. There is an extremely low barrier of entry compared to other business start-ups. It’s almost too easy to get licensed to sell insurance. In a sense,
There is not a single “right way” to apply for health or life insurance. Although their are some general guidelines followed by most carriers, each carrier has it’s own set of unique underwriting guidelines. This is why it is very important to apply for coverage with the assistance of a knowledgeable agent. People who apply directly with a carrier or through an inexperienced agent are much more likely to get declined or receive an unfavorable underwriting decision.
As an example,
When purchasing life insurance, it is important to determine what is important to you. In today’s fast-paced world, we place a high value on time management and efficiency. If we have a choice of shopping online for a gift or visiting several brick and mortar stores, we quickly see the benefit of the Internet. However, when shopping for life insurance, getting things done as quickly as possible isn’t always the best policy.
One of the popular mega-sites offering life insurance received the following review from U.S.
Generally speaking, people are comfortable shopping online for most items. The Internet is a great tool for gathering information and advice prior to making a purchase — and this especially holds true for life insurance. There are numerous sites online that provide instant quotes and solid, basic information about life insurance. Some sites are more “salesy” than others, but it doesn’t take long to sift out those sites and focus on the ones that are professional and helpful.
The popular mega-sites have call centers that make it very easy to ask questions and apply for coverage.
