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U N D E R WR I T I N G
COMMUNICATING WITH PRODUCERS
Session 40: February 28, 2006
Session Producer:
Karen Pope, Assistant Vice President
New York Life Insurance Company
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U N D E R WR I T I N G
PANELISTS• Tom Bacher, Director of LTC Risk Management
Prudential Insurance Company of America
• Barry Fisher, President
Paradigm Insurance Marketing,
American Association for Long Term Care Insurance
• Beth Ludden, Long Term Care Product Leader, Genworth Financial
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U N D E R WR I T I N G
From the Agent/Producers
• Top Ten List for Agents• Does an underwriter understand that clients
don’t always share all of their health history?• Are cover letters helpful or do underwriters just
toss them out?
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U N D E R WR I T I N G
LTCi Underwriting “Whine” Tasting Tour
• #10 – My client just got diagnosed with the early stages of (Parkinson’s, Alzheimer’s, M.S., ALS, etc.) can I still get coverage?
• # 9 – What do you mean my client was declined!? I just got him a $1,000,000 life insurance policy at preferred rates.
• # 8 -- Why is diabetes such a problem? My client looks perfectly healthy!
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U N D E R WR I T I N G
LTCi Underwriting “Whine” Tasting Tour
• # 7 – She’s only incontinent when she laughs hard?
• # 6 – All post-menopausal women take Fosamax; what do you mean I can’t get a super preferred rate class?
• # 5 – I met with a husband and wife last night. The wife did all of the talking; the husband didn’t say a word. Do you think there’s a problem?
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U N D E R WR I T I N G
# 4 –Why can’t the *#$*%&$* company issue the husband’s policy the wife is perfectly fine?
# 3 – So the guy is a bit overweight, borderline diabetic, taking HBP meds, smokes and has difficulty walking, Why is this a decline?
# 2 – The telephone interviewer asked my client to count backwards from 20 by 3’s! I can’t do that either!
LTCi Underwriting “Whine” Tasting Tour
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U N D E R WR I T I N G
LTCi Underwriting “Whine” Tasting Tour
#1
Can’t you get the
company to make a
business
decision?
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U N D E R WR I T I N G
From the Underwriter
• What underwriters wish the agents/producers knew before the Application is taken
• What are the best pre-screen questions for certain conditions?
• What conditions cause morbidity issues and why? What is the long term care risk?
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U N D E R WR I T I N G
Underwriters’ Wish List
• Completed application • Knowledge of the Underwriting Agent’s Guide• Agents providing complete information• An application completed legibly • Know the medical requirements for the
product you are selling
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U N D E R WR I T I N G
Underwriters’ Wish List
• A pre-screened applicant does not equal an approval
• Know co-morbidity • Pre-screen calls – get full medical history
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U N D E R WR I T I N G
Underwriters’ Wish ListPre-screen Info
62 yr male
6’2” 210 #
Hypertension on tenormin 140/75
Arthritis on mobic
Application
6’2” 200#
Hypertension &
Arthritis
Meds listed:
Tenormin & Mobic
Medical Records
6” 260#
HTN - stable
RA in hands with joint deformities in his fingers and right knee
Meds prescribed:
Mobic, Methotrexate Remicade
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U N D E R WR I T I N G
Underwriters’ Wish List
• Know the Underwriting requirements• Prepare your client for the underwriting
process• Agents should know that failure to follow-up
with doctor does not always mean full recovery, it could be a sign of neglected health
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U N D E R WR I T I N G
Underwriters’ Wish List
• Looks can be deceiving – How about the client who is actively at work fulltime and we still can’t issue due to anti-psychotic drug usage
• Note that an applicant who has not seen a physician in years does not necessarily indicate the applicant is in good health
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U N D E R WR I T I N G
What are the LTC Risk Factors for Uncontrolled Diabetes
• Stroke• PVD/Foot Ulcers• Claudication• Atherosclerosis• Neuropathy• Nephropathy• Retinopathy• Seizures/ Coma
Co-morbid Factors• Obesity• Heart disease• Non-compliance• Excessive alcohol use• Duration of the disease
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U N D E R WR I T I N G
Why would someone use NH or HC with a condition of diabetes?
• Renal failure• Inability to ambulate due to severe PVD• Visual loss • Stroke residuals• Heart failure• Diabetic Coma• Amputation
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U N D E R WR I T I N G
What are the risk factors for COPD? (Chronic Obstructive Pulmonary Disease)
• Progressive DOE & SOB
• Weakness • Limitations in ADLs• Respiratory failure• Heart failure• Altered mental status
Co-morbid factors• Smoking• Obesity• Other related
respiratory disorders
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U N D E R WR I T I N G
What are some causes of COPD?
• Smoking• Prolonged exposure to second hand
smoke• Repeated infections• Industrial exposures• Alpha –1 antitrypsin deficiency• Cystic fibrosis• Bronchiectasis
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U N D E R WR I T I N G
Why would someone use NH or HC with a condition of COPD?
• Inability to perform ADL’s due to SOB, DOE and weakness
• Altered mental status• Worsening dyspnea requiring oxygen• Congestive heart failure• Respiratory failure
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U N D E R WR I T I N G
Best Pre-screen Questions• Arthritis
– What type of arthritis do you have?– Where is the arthritis? (fingers, hands, knees or back)
– What medications are you taking?– Do you take steroids? – Do you use any type of walking aids?– Are there any joint deformities or
replacements?
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U N D E R WR I T I N G
Best Pre-screen Questions
• Date of Last physical exam?• Best time to call for Telephone interviews or
FTF assessments? If appropriate, a work phone number.
• Language barriers – do you need an interpreter for the FTF?
• Is there a work up in progress or upcoming surgery?
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U N D E R WR I T I N G
Best Pre-screen Questions
• Balance Problems or Falls– What was the cause of the balance problem?– How often do you experience the imbalance
or falls?– Has there been a work up? If so, what were
the results?– Is the problem interfering with your ADL?
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U N D E R WR I T I N G
Best Pre-screen Questions
• Recent hospitalizations, nursing home or home care services? – If so, for what?
• What medications are you taking and why?
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U N D E R WR I T I N G
Helpful Underwriting Tips
• Look for an oxygen tank; follow the tube, if it is attached to the applicant don’t take an application.
• If your applicant is seated throughout the entire interview with a lovely knitted afghan over his legs, ask for a glass of water and see if he stands up.
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U N D E R WR I T I N G
If your applicant is using any of the following:
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U N D E R WR I T I N G
DON’T TAKE AN APPLICATION!!!!
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U N D E R WR I T I N G
Thank You
Karen, Tom, Barry & Beth