Case Studies
We see a lot of cases, and our expertise enables you to achieve remarkable results for your clients. Here are a few examples:
Power of a Broad Portfolio
Previous insurance history: DECLINED
Reason for Declination: congenital defect, cavernoma (lesion in his brain).
Case began with a quick quote questionnaire with medical records obtained showing most recent brain scans 7 years ago.
Medical information was provided to 11 companies informally.
We learned that it would be helpful if more recent testing was available which showed stability of the lesion.
The agent had a heart to heart with his client and learned that there was a more recent scan and that the client was willing to have a current one.
The results showed stability of the lesion over a long period of time.
Underwriting results:
4 Declines ; 4 rated offers, 2 standard offers; 1 PREFERRED NON TOBACCO offer. PLACED $30,000,000 of 15 year term.
45 year old male, business executive
Very fit, good exercise regimen, excellent family history
Very fit, good exercise regimen, excellent family history
Previous insurance history: DECLINED
Reason for Declination: congenital defect, cavernoma (lesion in his brain).
Case began with a quick quote questionnaire with medical records obtained showing most recent brain scans 7 years ago.
Medical information was provided to 11 companies informally.
We learned that it would be helpful if more recent testing was available which showed stability of the lesion.
The agent had a heart to heart with his client and learned that there was a more recent scan and that the client was willing to have a current one.
The results showed stability of the lesion over a long period of time.
Underwriting results:
4 Declines ; 4 rated offers, 2 standard offers; 1 PREFERRED NON TOBACCO offer. PLACED $30,000,000 of 15 year term.
The moral of the story:
1) Teamwork: The collaboration of the agent/client and the GA involvement developed the information needed to secure a Preferred Offer. 2) As Mel Brooks so aptly stated, "It's good to have lots of companies to go to."
1) Teamwork: The collaboration of the agent/client and the GA involvement developed the information needed to secure a Preferred Offer. 2) As Mel Brooks so aptly stated, "It's good to have lots of companies to go to."
Build the Sale
Best offer: Table 5
Placed at a premium of $103,000 / year
Sequel: Agent worked closely with the client over the next year and was effective in motivating him to lose 60 lbs.
Applied for coverage 13 months later, with the following results:
$2,000,000 UL Standard Non smoker, premium $10,300
$15,000,000 term Standard Non smoker, premium $26,200
$10,000,000 term Standard Non smoker, premium $16,000
Total premiums placed in a little over a year: $155,500
48 year old Male business executive, 6'2", 350 lbs.
Sought 25,000,000 10 year term
Sought 25,000,000 10 year term
Best offer: Table 5
Placed at a premium of $103,000 / year
Sequel: Agent worked closely with the client over the next year and was effective in motivating him to lose 60 lbs.
Applied for coverage 13 months later, with the following results:
$2,000,000 UL Standard Non smoker, premium $10,300
$15,000,000 term Standard Non smoker, premium $26,200
$10,000,000 term Standard Non smoker, premium $16,000
Total premiums placed in a little over a year: $155,500
The moral of the story:
1) The agent was the KEY to the sale. Although the client wanted to wait until he lost the weight to put the insurance in force, the agent made him understand the table 5 offer was the downside, and that table 5 was a great offer for his height and weight (we had several declines to emphasize that point).
2) Over the next year, the agent stayed in close contact with the client, encouraged him, and reminded him of the goal.
1) The agent was the KEY to the sale. Although the client wanted to wait until he lost the weight to put the insurance in force, the agent made him understand the table 5 offer was the downside, and that table 5 was a great offer for his height and weight (we had several declines to emphasize that point).
2) Over the next year, the agent stayed in close contact with the client, encouraged him, and reminded him of the goal.
Persistency Pays
Treatment - removal of right testicle
No further treatment, no chemo or radiation
Underwriting decision 2004:
$2,500,000 20 year term, standard non smoker, premium $2,835
Underwriting decision 2006:
$500,000 Guaranteed UL, standard non smoker, premium $3,061
$2,000,000 20 year term, standard non smoker, premium $2,335
Underwriting decision 2008:
$1,000,000 30 year term, standard non smoker, premium $1,915
THEN in 2010, the client was 6+ years out from the cancer. He reapplied for coverage.
Underwriting decision: Preferred BEST for UL / Preferred for term
Placed the following in replacement of in force insurance:
Male 40, non smoker, business professional
Preferred Best insurance profile, EXCEPT: 2004, testicular cancer
Preferred Best insurance profile, EXCEPT: 2004, testicular cancer
Treatment - removal of right testicle
No further treatment, no chemo or radiation
Underwriting decision 2004:
$2,500,000 20 year term, standard non smoker, premium $2,835
Underwriting decision 2006:
$500,000 Guaranteed UL, standard non smoker, premium $3,061
$2,000,000 20 year term, standard non smoker, premium $2,335
Underwriting decision 2008:
$1,000,000 30 year term, standard non smoker, premium $1,915
THEN in 2010, the client was 6+ years out from the cancer. He reapplied for coverage.
Underwriting decision: Preferred BEST for UL / Preferred for term
Placed the following in replacement of in force insurance:
$500,000 Guaranteed UL, premium $3,752
$2,500,000 15 year term, premium $1,300
$2,000.000 20 year term, premium $1,429
$1,500,000 30 year term, premium $2,010
Total coverage $6.5 million at an annual premium of $8,491
Total premiums 2004 - 2008 $10,146
Total premiums placed $18,637
$2,500,000 15 year term, premium $1,300
$2,000.000 20 year term, premium $1,429
$1,500,000 30 year term, premium $2,010
Total coverage $6.5 million at an annual premium of $8,491
Total premiums 2004 - 2008 $10,146
Total premiums placed $18,637
The moral of the story:
1) Periodic reviews with your clients are an excellent source of new business (& referral) opportunities.
2) Many cancers have a far more favorable prognosis than the average person thinks.
3) Bring us your tough cases. We will find the solution.
1) Periodic reviews with your clients are an excellent source of new business (& referral) opportunities.
2) Many cancers have a far more favorable prognosis than the average person thinks.
3) Bring us your tough cases. We will find the solution.