In a post not too long ago I talked about a case that I had shopped. My email to the various underwriters noted “39 year old male, 5’10, 148, non smoker. Diagnosed type 1 diabetes 2005. Compliant on testing, followup, and treatment. A1c has always been under 6.5. Diagnosed Grave’s disease 1999 and had thyroid ablation. Recently started treatment for borderline (210) cholesterol. Takes Lantis 7 units daily, Novalog 25 units daily, Synthroid and Niacin. Needs $1mm term life insurance”.
We got a table 2 trial offer from Banner, an outstanding offer no matter how you paint it. In most cases that offer would have been a gift if we had been talking type 2 diabetes. With type 1, even with the late onset, well, needless to say we got an application in.
We got the approval on that case today with no surprises. So how did this happen? This case in the hands of the wrong agent, someone without the experience to know where to take the business, could have blown up into a decline very easily.
I’m not saying it’s about me and I’m certainly not saying I’m the only “right agent” out there that could have obtained this best case result, but I do have to emphasize to those with health issues shopping for life insurance, there’s a difference and there’s a way to know that you have found the right agent.
I’ve said it often and it doesn’t matter if you are buying life insurance or running shoes, if the person that you are talking to doesn’t ask questions that you understand to be relevant to your situation, they’re just selling products, not solutions.
If you are 39 with diabetes and an agent basically just asks how you feel and gives you a quote, they’re stupid and you should just walk away. If they don’t ask about your age at diagnosis, or what your most recent A1c was, or what your medication and dosages are, they’re not aware of the impact the answers could have on underwriting. Don’t waste your time with an agent that doesn’t dig for information.
Bottom line. This case was a best case scenario. The client knew the answers to all of my questions and I knew what questions to ask and it all ended up in front of an underwriter who knew that all of the information they received presented a low mortality risk.