STM Question

Bob_The_Insurance_Guy

Guru
1000 Post Club
1,908
Decatur, Ga.
I have a 63 yr old prospect, who has a "condition" with his eyes, and will require some sort of procedure in the near future. I am going to put him on Short Term Medical, until he reaches 65.

Here is my question: Since he can clearly answer "NO" truthfully to all the questions on the application, once he has this "procedure", will he be able to reapply, with any STM company, after that. The reason I ask, is because, even after the procedure, he still would be able to answer "NO" to all the questions.

Now, before you ask, I don't have the details as of yet. All I know is that his opthomologist told him it would cost $5k for the procedure. I have no idea what is wrong yet (I will report once I get the info).

In his own, convoluted way, he intimated that he would have the procedure done within a few months time. The two STM companies I work with are HPA and Assurant.
 
Other than the lower premium, why is he wanting an STM rather than a traditional major med?

Does he have other med issues that preclude using a regular plan?
 
OK, here's an update. I still don't have all the facts, but, we are going to put him, and his fellow employees, on a small group Kaiser plan. The company consists of himself, his son, and three other employees. All we need is one more employee to go on the plan, and one of the ones declining to show proof of creditable coverage elsewhere, and we're golden.

Kaiser will cover the pre-ex.

He still won't tell me exactly what the problem is, and truthfully, I don't care. My assumption is that they will keep the plan just long enough for him to have the procedure done - whatever that may be - then they will drop coverage, I'm sure.

Found out that neither Assurant, nor HPA will cover pre-ex.
 
OK, here's an update. I still don't have all the facts, but, we are going to put him, and his fellow employees, on a small group Kaiser plan. The company consists of himself, his son, and three other employees. All we need is one more employee to go on the plan, and one of the ones declining to show proof of creditable coverage elsewhere, and we're golden.

Kaiser will cover the pre-ex.

He still won't tell me exactly what the problem is, and truthfully, I don't care. My assumption is that they will keep the plan just long enough for him to have the procedure done - whatever that may be - then they will drop coverage, I'm sure.

Found out that neither Assurant, nor HPA will cover pre-ex.

I'm not doubting your ability as an agent or person because you seem like a good guy from reading your posts, but why are you wasting your time with this guy who apparently doesn't seem to value insurance or your time?
 
I was going to say that the only problem would be pre-existing conditions if you wanted to re-apply for STM. I've done the STM filler for clients of mine close to medicare as well. It usually works out well. Once they get on Medicare, it is smooth sailing.
 
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