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Problem: About a year ago, a neurological problem called Guillain-Barre Syndrome resulted in a declination for life insurance. This occurred, in part, because of certain unknowns about the present status of the client for this condition.
Solution:
The producer, Bill Lindsey, began working with me on his new case as soon as he obtained the medical records (APSs). The first step in the medical underwriting process was to define the problem(s) and the second was to establish the significance of each. The final step was to obtain and present the medical facts to the carrier in such a way that the underwriter could decide for herself if the medical condition(s) is/are significant, or not. The client's only significant medical problem was the Guillain-Barre Syndrome. Outcomes of this condition may be favorable, but some may not be.
The medical records suggest that the client's neurological condition was a mild case, and that it was improving. The underwriting problem was that vital underwriting details were not directly stated in the records. Knowing that carriers cannot assume a favorable course of the disease, it would be up to the producer to provide evidence supporting the good outcome that the client appeared to have.
Bill did an excellent job in executing the strategy of providing the carrier's underwriter the information she needed. I provided the likely questions that the underwriter would have. Working directly with the client, Bill was able to provide answers that "filled in the gaps" for the underwriter, and they were consistent with the contents of the medical records. Bill crafted a cover letter that painted a current picture of the client. He presented this together with my case summary that pulled together the medical facts for the underwriter.
Outcome: Bill was able to secure $3.1 million dollars of permanent coverage (target premium of $85,807) for his client, at a preferred, non-smoking rating.
Comment: A strategy was developed and skillfully executed. Bill successfully placed this case because he took the time to learn a few basic facts about the primary medical condition, he learned the right questions to ask, he involved the client in the process and he provided the carrier the information it needed in order to realize that the case would be a profitable one for the insurance company. While no one can guaranty the outcome of any application, the better prepared and documented the application and cover letter are the higher the likelihood of a successful outcome
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