Selling tips....
A 29 years old young man was declined his medical insurance because he was admitted for a mild heart attack last year. His father called me yesterday. His voice sounded furious, saying why should insurance company be rejecting his son's proposal for his needed covers. His explanation was, my son is still young and has a good career, insurance should be given to him.
This man thought I'm the owner of the insurance company and I could overrule company rejection or be able to assist his son's problem. The first statement I told this unreasonable friend was... "Buy insurance when you don't need it because when you need it, you can't buy". He kept silent and I knew he knows the logic of why the company refused to accept the sales.
All life insurance companies are afraid to underwrite lives that are suffering from cancer or having heart diseases. Immaterial whether the clients are young or old, the risk factors are too great for them to consider. The 29 years old son might be still young and unmarried yet, the mild attack is an indicator he has a heart problem.
In order to help my friend, I advised him the following steps.... his son should consult his attending doctor again. Check with the doctor whether he is doing fine or has fully recovered. If is an affirmative reply, request the doctor to confirm with a proper medical letter and full medical reports attached. With these supportive information, I would write a personal report to our company to reconsider his new application. Unless this is done professionally with full explanation and recommendation to the company, no underwriter likes to look at sub-standard lives. A Big 'Thank You' was acknowledged by my friend.
A soft reminder - "Life insurance is the last thing on earth a man wants, but it's too late then".
A 29 years old young man was declined his medical insurance because he was admitted for a mild heart attack last year. His father called me yesterday. His voice sounded furious, saying why should insurance company be rejecting his son's proposal for his needed covers. His explanation was, my son is still young and has a good career, insurance should be given to him.
This man thought I'm the owner of the insurance company and I could overrule company rejection or be able to assist his son's problem. The first statement I told this unreasonable friend was... "Buy insurance when you don't need it because when you need it, you can't buy". He kept silent and I knew he knows the logic of why the company refused to accept the sales.
All life insurance companies are afraid to underwrite lives that are suffering from cancer or having heart diseases. Immaterial whether the clients are young or old, the risk factors are too great for them to consider. The 29 years old son might be still young and unmarried yet, the mild attack is an indicator he has a heart problem.
In order to help my friend, I advised him the following steps.... his son should consult his attending doctor again. Check with the doctor whether he is doing fine or has fully recovered. If is an affirmative reply, request the doctor to confirm with a proper medical letter and full medical reports attached. With these supportive information, I would write a personal report to our company to reconsider his new application. Unless this is done professionally with full explanation and recommendation to the company, no underwriter likes to look at sub-standard lives. A Big 'Thank You' was acknowledged by my friend.
A soft reminder - "Life insurance is the last thing on earth a man wants, but it's too late then".
6 comments:
Hi Anonymous,
Thank you for reading my blog.
Hi Commercial,
Thank you for reading my blog again.
Yes I agree that when there is the right time to buy insurance we all ignore it and when we actually need it we are not able to get it. Same is the situation with me. I was also rejected by the insurance company but I am really looking forward to it. After reading your post I will try to convince the carrier that I am seeking with my full medical record in the hope this time I will get.
Nearly all insurance policies exclude pre-existing medical conditions. And when covered by insurance or other means, you will have to pay dearly for it.
Hi Chris,
Good tips there again. Thanks
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