So, let me catch you up. First you went through finding the right agent because anyone who reads this blog knows that the right agent using the right company equals the right outcome. Then your agent got down and personal and used that information to informally shop your case to up to 20 companies, sometimes more to make sure you applied for the best opportunity for the best outcome, the right company. Then you completed an application and exam. So far you shouldn’t have more than a few hours tied up and now you’re free to roam.
Once the application, exam and trial quote email reach the company they set up a file and begin the process by reviewing your lab results and exam. If anything is askew there they can either set it aside as another factor, disregard it altogether or slam the lid on the relationship by declining the policy. An example of that would be if liver functions were elevated the company might opt to run an alcohol marker called a CDT. If the CDT was positive they would decline you because you drink way, way too much. If the CDT was negative they would set the liver functions aside as another factor or additional information.
So, the next step is to order medical records. If your agent happens to say something about an APS, that is attending physician statement, medical records. If your doctor is on the ball we will order and get the records the same week. If not I will call and let you know after 3 weeks or so that your doctor is holding up the process and ask you to call them and ask for better cooperation. If that doesn’t help I may ask you to go get your own copy of your medical records, something you should have anyway, and overnight me a copy.
Now understand, getting the records doesn’t necessarily put the APS thing to rest. If your medical records note you being referred to another doctor for testing or something, we need that doctor’s records as well. Telling us it all came out normal is ok between you and me but won’t work for the underwriter. Much better to divulge all doctors up front and let the underwriter decide whether or not to order. Saves a lot of time. If you get two foot dragging doctors back to back it could take weeks to get all the information the underwriter needs in order to approve your policy.
Once the records are all in the packet is complete and ready for an underwriter to approve. Most companies these days tell us 5 business days for underwriting. If there are some tricky medical issues it may spend a few days on the medical director’s desk too.
Bottom line. It’s approval time. I get an email letting me know the policy was approved at the rate applied for…..or not. The former means we get the policy out to you to put in force. The latter means we need to find out what happened and see if we can fix it. If you have any questions or have had an application take a left turn at the underwriter’s desk, call or email me directly. My name is Ed Hinerman. Let’s talk.