Here is an update on Chesapeake for Final Expense. Ritter Insurance Marketing is in the process of updating and upgrading the Final Expense portion of our Quote Engine to add some new carriers. Look for some new companies to be added by the end of this week.
Here is the news from Chesapeake:
FIELD UNDERWRITING DIABETICS… To avoid a second interview by underwriter (IBU), possible APS or a decline when an applicant with Diabetes is applying for Level coverage, it is important both you and your client fully understand the definitions of the terms used in Question 9a & 9b relating to complications of Type I & II Diabetes in the past two years which will cause the applicant to be ineligible for Level coverage. A client with any of the below complications should apply for Graded or Modified coverage:
Neuropathy is Diabetes related nerve damage caused by blood glucose being too high for long periods of time. Symptoms include tingling, numbness, burning or pain most commonly in the feet and legs. Possible prescription history of Gabapentin, Neurontin or Gabarone.
Retinopathy is damage to the blood vessels in the retina causing blurred vision and blindness. Other symptoms include bleeding in the eye causing spots or “floating” vision. Possible prescription history of Amino-Opti-E, Aquasol, Vitamin E.
Diabetic Coma is a medical emergency in which a person is comatose (unconscious) because of acute complications caused by severe Hypoglycemia or Hyperglycemia and dehydration.
Insulin or Diabetic Shock is a condition which occurs when the blood sugar (glucose) is too low commonly referred to as Hypoglycemia causing seizures or unconsciousness.
Insulin combined with medications for Heart and Circulatory Disease (excluding medications for Blood Pressure and Cholesterol)? Always review the applicant’s Heart and Circulatory medications to determine the prescriptions are not being prescribed for other conditions such as Congestive Heart Failure, Cardiomyopathy or other Circulatory Disease. Refer to the Prescription Reference Chart on pages 11 thru 14 in the Agent Guide. Prescriptions for treating Hypertension (HTN) or Cholesterol combined with Insulin may be considered for Level coverage. Insulin combined with any other Heart or Circulatory medication must apply Graded or Modified.
Other complications of Diabetes include Amputation and Nephropathy (kidney disease or damage asked in Question 6a). Although the below questions do not appear on the Level Application, they are helpful tips for field underwriting a Diabetic to determine qualification for the appropriate plan to assure quick issue:
1. In the past two years, have you experienced tingling, numbness or burning in the extremities of your body? (If so, apply Graded or Modified)
2. Have you kept a log of your blood sugar level readings and may I see it? (Readings which vary, spike or not at a consistent level can reveal uncontrolled blood sugar levels…apply Graded or Modified)
3. In the past two years, have you had to change medications several times for Diabetes? (A change in medications could mean complications or uncontrolled blood sugar levels…apply Graded or Modified)
SOLICITING NEW BUSINESS… Please remember Chesapeake requires the Agent to personally interview the Applicant face to face and witness the Applicant’s signature. Refer to the Agent’s Statement on the application and page 7 in the Agent Guide. Selling through the mail, internet or telephone is strictly prohibited.
APPLICANT SIGNATURES… If an applicant signs with an “X” or or prints their name, a witness must also sign the application and provide their relationship to the proposed insured. The witness must be someone other than the writing agent, a minor, the beneficiary, Power of Attorney, policyowner, spouse or other relative nor anyone who may have an insurable interest in the life of the insured. Please refer to page 21 in the Agent Guide for exact instructions. If an applicant’s signature appears extremely shaky it is recommended you submit a memo explaining the cause to avoid a possible IBU or APS to determine the cause is not a condition which would disqualify the proposed insured for the plan being applied for.
CONTRACTING NEW AGENTS… When submitting contract and appointment forms for a new Agent, please use the Contracting Check List NTCOVER 5/2004 to verify all forms have been properly completed, executed by both the Agent and recruiting General Agent and the appropriate appointment fee has been included either by check or credit card authorization. Often overlooked items include a Compensation Schedule and appointment fee. Do not send the paperwork for contracting and appointment without all the necessary items as the process will only be delayed creating more time and expense for everyone. We appreciate your cooperation.
YOU ASKED FOR IT, YOU GOT IT… Chesapeake is now running two commission cycles each week. An advance only cycle will be run on Tuesday in addition to the normal advance & earnings cycle on Thursday. Commission checks and direct deposits will be generated on Wednesday as well as Friday and can be viewed on Chesapeake’s website. Be sure your current email address appears on Chesapeake’s website after logging in so you will be assured of receiving an email notice with your commission amounts for each cycle.