Oxford App RE: Declined by Other Insurance

[jacobtn]

I wrote a lady a fully UW RNA plan because she wanted a high face amt. They declined her app. Oxford looked to be a good choice at this point, would cost her more but simplified issue and she should qualify (not sure why RNA turned her down). on the app it says if she was declined in the past 2 yrs they won't accept her. I don't recall any other carriers having this on their application. I assume this is a no-go with them?

 

[Stephen]

I don't have an Oxford app in front of me, but don't they ask if you have been declined,modified, or rated on insurance in the past X years?

 

[donamese]

Have you been declined or postponed for life or health insurance in the past two years?

Do you know why they declined her? May be a decent one to call the Oxford Life UW and discuss it. On the base it would appear to be a decline but she may authorize an approval if the reason for RNA decline works for their criteria.

Baltimore Life, Lafeyette Life, UHL and I am sure a few others ask this as well. Prevents people burning through companies to find someone to accept. Does however suck if the client thought they had something 24 months ago and was only 22 so gets declined...then they would be screwed with new coverage. Worth the phone call though to check.

 

[Newby]

They are strict on that.

I had a guy who was paying on an FE Life policy he bought from some other agent. I reviewed it and showed him that he didn't qualify for the plan. He had insulin diabetes and the question was answered wrong. He was a year in.

I helped him call the company to see if they would make an exception for him...they didn't. They resended the policy.

I showed him that I could get him the same premium with a company that he DID qualify for (Oxford).

But when we called to do the phone interview, I explained to them that he was never turned down by a company but an agent had just clean-sheeted the app on a policy he should never have applied for. Oxford wouldn't hear of it. They said they wouldn't let him apply.

 

[donamese]

Was that with the new dedicated underwriter or where it was just called in through the standard line?

Curious if the new underwriter is more lenient. I know the ones that take the calls through the hotline are not able to do anything (pure simplified issue) but I believe the dedicated one has a little slack, or that is how it was annouced to me. Haven't had a case to use her yet but curious about it.

 

[Rearden]

Screw 'em!

Plenty of other good choices out there.

 

[Newby]

Tough situation...I've been in that spot several times. How did u go about it from there? Hope u got him coverage!

Yes, I just went to a different company.

 

[Agentguy5]

Well, Security National Life and American Home Life are 2 carriers that won't turn her down just because she has been turned down recently....

 

[Newby]

Well, Security National Life and American Home Life are 2 carriers that won't turn her down just because she has been turned down recently....

Hardly any of them will. That's the point. It's very unusual that Oxford does.

 

[JGold814]

How old is she and how much coverage is she looking for? Do you know what her health issues are that may have caused the decline with RNA (i.e. maybe something on the prescription check)?

Other possible alternatives - Assurity goes up to 350k on their no-exam term policies - Fidelity goes up to 150k on their's. Face amount max on Fidelity depends on age (lowers a little bit for higher ages).