Posted by For life insurance for wealth inheritance, especiallyGuaranteed products, the more traditional a life insurance company is, the more detailed the review process of medical records will be.Inadequate preparation of medical records will actually consume a lot of time and energy from insured families and insurance financial advisors, and harm the insurance financial planning experience.
Recently, I was helping an East American family apply for a purchase.PennsylvaniaWhen applying for a policy from a life insurance company, I once again experienced the problem of medical records.
Today I will talk about the pitfalls in medical records when applying for life insurance, and how we can avoid falling into these pits and make the whole experience smoother.
Heart-to-heart talk pit: Talk to your doctor carefully
Some friends like to have a heart-to-heart talk with their family doctor during their annual physical examination.
Of course this is a good thing, but if you don't have a particularly close relationship with your family doctor, please be a little careful and avoid sharing everything at once.
This happened to one of my clients.This client applied for an insurance account for asset management.It stands to reason that the review process for purchasing such financial management insurance products is often "much looser" than claims-based life insurance.
When I received the tentative rating from the insurance company through health underwriting, I noticed that the insurance company gave the best rating for smoking bodies, and the premium was much more expensive than when we applied.I found it strange that the customer did not smoke, so it could not be the result of the blood test, so I immediately contacted the insurance company to ask if it had given the wrong rating.The reply received was: Considering that the customer has the habit of smoking cigars, the customer needs to be put into the smoking body rating.
After confirming with the client that he does not smoke, I further communicated with the insurance company and learned that the family doctor’s medical report notes stated that the client smoked cigars.So I held a video conference with the client again,After some recollection, the customer finally remembered that when chatting with the doctor during his annual physical examination, he mentioned his experience of trying local cigars during his travels.The doctor recorded this sentence in the report.
After multiple communications with the insurance company and providing the latest physical examination report, the insurance company agreed to adjust the rating.In the end, I also helped the client get a non-smoking health rating with the best rate.
But the whole process was quite a toss-up - the speaker was unintentional and the listener was intentional. In order to make up for a sentence in casual chat, we spent nearly a month on this matter.
If you insist on chatting with your family doctor, you should alsoYou can tell your family doctor in advance that I will apply for life insurance in the next six months or one year. Please check whether my indicators are healthy, whether my blood pressure needs to be measured again, etc. These are actually helpful. topic of.
Pitfalls in medical treatment: If you have nothing to do, don’t go to the doctor, and report after you are done.
There are also some friends who are very cautious about their physical health and have even formed a habit of making an appointment with a specialist for examination or physical examination if they feel something is slightly wrong.
This habit has been accumulated over many years, and I have been to the doctor so many times that I have lost count.
The first thing that needs to be affirmed is that if you have any problems, go to a doctor. This is a responsible sign for your health.
However, it is worth reminding that if the examination results are normal, or the doctor wants you to do further examination, please be sure to ask the doctor for your medical report after each consultation, firstly to see what the doctor wrote Secondly, it helps you to keep this report, which may help you save energy and time when buying insurance in the future.
Put yourself in another person’s shoes. When an insurance company receives an application for a large-claim policy, it conducts a preliminary database check and finds that the policyholder has a variety of medical records, and each medical record is independent and has no correlation. , the reviewers may be murmuring in their hearts, wondering what is the reason behind such inspections and whether they will increase the risk to the policy holder.
Secondly, after inquiring about these items, insurance companies with stricter audits will request corresponding detailed reports from clinics or medical institutions one by one; some traditional life insurance brands can be said to be very shabby. If they cannot obtain all the materials, they will not be able to obtain them. Go to the next step.
Some clinics and medical institutions in the United States are not sufficiently informatized, and even some traditional family clinics are still using paper files.Even with the help of big data and third-party agencies, it is difficult for insurance companies to obtain all detailed medical records of policyholders in the first place.
At this time, if you have these medical record files yourself, you don’t have to passively wait for the long retrieval process of third-party data collection agencies and clinics.If you encounter a very traditional clinic and have to send your medical records to the insurance company by ordinary postal mail, then this process will really take a long time.
Column summary
In this column about medical reports, I share some of the experiences and experiences of different families regarding medical records when planning for large insurance policies for wealth inheritance.
Some families will also ask, why did it only take a day or two, or even less than 24 hours, to get approved when I applied for life insurance?This situation is actually relatively common.Life insurance in the United States is divided intoFinancial management type and claims typeTwo categories.Generally speaking, when the customer data is complete, the smaller the insured amount (less than US$100 million), the faster it will be approved; financial management life insurance policies are also approved faster than claims-based life insurance policies. .
for wealth inheritanceGuaranteed claim typeThe review of life insurance policies is often the most stringent.The insurance company is very clear that the payment of this fund is an inevitable event, and the physical health of the policy holder is directly related to the insurance company's gambling risk.Therefore, usually one month of underwriting time is more reasonable. If your materials are fully prepared and your medical records are complete, you may be approved within three weeks at the earliest. (Full text ends)
