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Jesse Cott (QFS)Got Declines? Can’t Get Approved? Let's Change That!
Tired of declined cases? Here are some of the top reasons for why insurers do not approve those cases:
Overweight
Income
Alcoholism
Elevated Cholesterol
Elevated Liver Functions
Blood or Protein in the Urine
Hazardous Occupations
Hazardous Extra Curricular Activities
Drug Use
Driving Record
History of Cancer
Previous Declines
AIDS or HIV
High Levels of Glucose or Blood Sugar
No one likes having a case not approved. We all would like 100% of our contracts issued. What do you do when you meet a client and there may be some question about their health, about the sports they engage in, or the case that was just refused by another insurance company?
No Medical Exam: IA Excellence has a product called Access Life that has no medical exam. You can purchase the product through IA Excellence or Industrial Alliance. Last week IA Excellence updated the application process, reducing the number of questions and removed the question: ‘Have you had an application declined or postponed with any other company’. Industrial Alliance still has the old platform and it should be upgraded in the next couple of weeks.
Access Life: Is a simplified issue life insurance product. The medical questions are divided into three sections, Deferred, Deferred Plus and Immediate Plus. There are five questions in Deferred and four in each of the two remaining sections. Your answers will determine which section you may be eligible for. Other companies who sell simplified issue have over 30 questions which can lead to a much greater probability to have it refused or a poorer rate.
Access Life Products: The Deferred has only the L100, whereas Deferred Plus and Immediate Plus are the L100, T15, T20 and T25. The maximum face amounts of the policy are $50,000 for Deferred, $200,000 for Deferred Plus and $300,000 for Immediate Plus.
Who would this product be good for:
Newly arrived immigrants
Clients who want insurance right away
Children who have health issues
Cases that were refused by another carrier
Let’s compare: Male, NS, Age 45, $300,000 Face Amount
Want to Learn more about Access Life:
Product Guide (including a Reference Guide for Medical Conditions)
Why not go through some of your cases that did not get approved and see if you can have them issued with IA Excellence! A little effort can turn out to be a HUGE reward!
Best Regards,
Frank Porreca, CFP, CHS
Business Development Specialist
Qualified Financial Services
613-794-7657