Extended Shelf Life Of Medical Requirements Can Help Boost Your Sales!
The idea of getting your client examined for life insurance can be a challenge.
Asking for a second exam after one was done in the not so distant past can jeopardize a sale. Worry no more.
Consider the following:
A 70 year-old female applied for $10 million of life insurance coverage with another company, was approved, and the policy placed in-force over six months ago. She now desires additional coverage for the same amount, but does not want to go through another exam. Her previous exam, lab and resting EKG were completed over nine months ago.
Exam requirements are generally good for up to 12 months on applicants up to insurance age 70, so your client does not have to be inconvenienced by scheduling new testing as long as a non-medical part 2 is completed along with the application.
For those applicants over age 70, cognitive testing previously done may be good for up to one year in addition to resting EKGs – although they will need a new exam and labs after a 6 month time-frame.
*Age limits and timeframes may vary by carrier
Take advantage of these guidelines when you can, give us a call to discuss the details of your cases – the Underwriting Department is here to help.