Life insurance questions

Willow

Just to show you how anal they can be: say Bob is a bodybuilder, eats very healthy, doesn't drink or smoke and has no health issues what so ever and NO he doesn't use enhancers. He is 220lbs but is only 5'7, he will most likely get rated and have his premiums increased due to the fact he is over weight according to UW guidlines.

Sorry DJ, if you don't like the answers we are providing, but Cathy, ShinAce and I all work in the industry and see and hear it all the time.

Willow

ShinAce wrote: »

I think commissions paid to the advisor are roughly the first year's worth of premiums. Something like that.

They get more commission by you buying a more expensive policy. If you buy whole like insurance instead of term, you'll pay more for it and they get more for it. Basically, commission is fixed. For example, if I worked in sales and got a 5% commission on anything sold, that would be equivalent to a broker. For a given policy, they cannot get a better commission.

They also get more commission the more you are rated, the higher the premiums either due to the high amount of insurance or due to the fact the client has multiple health issues or both.

ShinAce

disneyjoe7 wrote: »

What does an agent do, I mean how does he or she get paid?

Would a policy of X be priced different for agent "A", over the same policy of X be priced differently for agent "B"?

No. Brokers from companies A through Y can send an app to company Z and they will all be offered the same commission.

When you get into savings, then commissions can be adjusted by the broker to change the rate of return on the policy.

cfrizz

Sorry DJ, we get your point, you are simply wrong. Your blood isn't going to spontaneously change just because you are in a rush.

The test picked up something out of the norm that YOU NEED TO GET CHECKED OUT! Insurance or no insurance!

Your being in denial about it will not change it, and waiting 6 months could make whatever is wrong a lot worse. And the insurance companies will still rate you or deny you if the bloodwork comes back with red flags.

As long as you have money in the bank to bury you with you don't need insurance. The insurance you get is for the living to take care of business after you die.

disneyjoe7 wrote: »

Ok since I'm not getting my point across or this is how they work it's fine.


I'm out, talk to ourselves.

Willow

cfrizz wrote: »

Sorry DJ, we get your point, you are simply wrong. Your blood isn't going to spontaneously change just because you are in a rush.

The test picked up something out of the norm that YOU NEED TO GET CHECKED OUT! Insurance or no insurance!

Your being in denial about it will not change it, and waiting 6 months could make whatever is wrong a lot worse. And the insurance companies will still rate you or deny you if the bloodwork comes back with red flags.

As long as you have money in the bank to bury you with you don't need insurance. The insurance you get is for the living to take care of business after you die.

We don't mean to be offensive, you'd be surprised at how many people get rated for smoking (we do a saliva test or blood and urine), the client claims to never have touched a smoke nor cigar or chewing tobacco or even pot. Well the cotinine didn't fall into the test, it is what it is. We also have to tell them that just cause you were at a party the night before and others were smoking, this will not make for a positive test.

As Cathy said, for the insurance, it's up to you to decide if you want to pay the extra due to the lab results, but you should get your "abnormal" results looked into, before it gets worse. It may not be what you want to hear, just be happy this issue of your results were found out, now you can do something about it.

cfrizz

I just asked one of our MD's about what a high level of MicroAlbumin in the URINE might indicate. So it was your urine sample that was out of whack.

He told me that it is usually the early warning signs of kidney disease. (alot of diabetics have a high count) However, it is EASILY changed by usually life style changes and or medications.

He also said that if you didn't give a big enough sample it COULD be concentrated, in which case giving another sample might clear up the whole thing.

Willow wrote: »

...but you should get your "abnormal" results looked into, before it gets worse. It may not be what you want to hear, just be happy this issue of your results were found out, now you can do something about it.

disneyjoe7

Ok, I can wait 6 months for the insurance to remove the offending report. I can go see my doctor and I won't have my head up my ****. But I don't feel these levels are correct due to something on my end doing or there doing (I like to think is was both, but I understand your bias if you feel the other way)

Glucose 135 where its been 98 or 102 before.

Microalbumin / Creatin 36mg should be under <30mg

Microalbuminuria 8.6mg should be under 3.0mg

Just feel it the test was redone today the Glucose is better then the other two should flow in line also. If they wish to go with perhaps funny report over another their rules so be it.



Now either the D is taken place or this isn't correct. 6 months is ok with me as I turn 45 in July 6 months should take me in April or so.

disneyjoe7

Oh, I'm happy to report I didn't think they check for this stuff but...


Cocaine NEG

Cotinine 0.00

Well I clean and square.

Willow

cocaine is a straight out decline, no ifs ands or buts

cfrizz

LOL! That's for sure, but we did have one client that tried to convince us to reverse the decision because he wasn't snorting coc, he was eating poppy seeds! that's how that coke got in his system!

cfrizz

DJ, the report is NOT removed. It will just mean that an insurance company will ask for a new sample. Once they have the information they keep it. And all information past and present is used to underwrite your application.

disneyjoe7 wrote: »

Ok, I can wait 6 months for the insurance to remove the offending report. I can go see my doctor and I won't have my head up my ****. But I don't feel these levels are correct due to something on my end doing or there doing (I like to think is was both, but I understand your bias if you feel the other way)

Glucose 135 where its been 98 or 102 before.

Microalbumin / Creatin 36mg should be under <30mg

Microalbuminuria 8.6mg should be under 3.0mg

Just feel it the test was redone today the Glucose is better then the other two should flow in line also. If they wish to go with perhaps funny report over another their rules so be it.



Now either the D is taken place or this isn't correct. 6 months is ok with me as I turn 45 in July 6 months should take me in April or so.

disneyjoe7

Ok so who here knows rates pretty well, I PM what he offered and if kicking him out of my life was fair.

But I don't think I'll kiss up if you feel I should.

ShinAce

They're obviously asking you to postpone 6 months before re-applying, or you'be been offered a rating. Your results are not grossly out of whack(like Hepatitis or kidney failure would) so they want you to stabilize before it becomes a problem.

Do you drink? How much the week before? If you go to 4 xmas parties, drink, never sleep and then meet the nurse, you're at an obvious disadvantage.

If you're been offered a rating, that's where it gets tricky. That's based on actuarial data and can vary from company to company.

A good practice when applying for insurance is to find a broker who's not attached to a particular insurer. Ask them to submit applications to the companies with the best rates for your needs. Once all the companies come back with their rated offers, you can choose the lowest one. You might have to allow the earilier offers to expire before knowing all of them, but that's fine. As long as you can sign a new application within 6 months, you don't need to go through the whole hassle again.

disneyjoe7

I went to Dave Ramsey website and clicked on the Zander link. From what I seen there I could do 500k policy for the same money or less then what my agent offered for 350k policy. I'm pushing the 6 month thing due to what Cathy was stating the need to repull it, but I don't feel this one should be in the mix if it's the only one off. That is there's no problems coming into play at this time. I'm not aware of a rating issue I may have.

cfrizz

DJ, you are shooting the messenger who had NOTHING to do with deciding what the INSURANCE company was going to charge you for a policy. He doesn't have access to any of your medical information. All he is doing is delivering the message of what the insurance company is willing to give you.

As I said this is a complicated business that involves actuaries & statistics up the wazoo, and mortality findings and on and on and on.

Plus every company has its own set of standards. So what you are asking for is impossible to give.

Oh and one more test that is automatically run that is an IMMEDIATE decline if positive...HIV!!! Plus if the information given is warrented the underwriter can request other test be done on the sample.

Most companies now will also run a PSA test on a mans sample. But the age at which the companies do so varies.

disneyjoe7 wrote: »

Ok so who here knows rates pretty well, I PM what he offered and if kicking him out of my life was fair.

But I don't think I'll kiss up if you feel I should.

disneyjoe7

Sorry his lack of ability to explain it to me got him fired.

cfrizz

DJ, naturally those sites are going to give you the illusion of the best rates for the lowest money ever imaginable. But the plain fact of the matter is until the underwriter looks at all the test results, & medical history that rate speculated to you is BS!

Put the insurance on the back burner for right now and concentrate on going to your MD so he can run some tests to either confirm the latest results & start treatment for the problem, or resolve the question of the test. If it comes back negative you can always have your MD send in those results to the company for a 2nd look.

But the most important factor right now is to find out one way or another NOW! Not 6 months from now. If there is a problem treat it early, because dialysis 3 times a week is NOT fun!

disneyjoe7 wrote: »

I went to Dave Ramsey website and clicked on the Zander link. From what I seen there I could do 500k policy for the same money or less then what my agent offered for 350k policy. I'm pushing the 6 month thing due to what Cathy was stating the need to repull it, but I don't feel this one should be in the mix if it's the only one off. That is there's no problems coming into play at this time. I'm not aware of a rating issue I may have.

ShinAce

When I finally got the gist of underwriting, I grinned.

You can apply for insurance and then decide to cancel it later(before you get the policy in your hands) and they'll give you ALL of your money back. Not only that, they'll pay for the nurse to come to YOUR HOUSE and do their thang. Once that's complete, they'll share the results with any doctor you mention.

Now that is amazing service and every insurance company does it. They also share medical info about the clients between themselves to ensure nobody is lying.

If you lie, and get caught 10 years from now because you want disability to pay your premiums, you could screw yourself. When the disability peeps order some medical records from the doc and see you had an existing condition that was never mentioned, not only will they deny your disability claim, they will refund everything you paid, because technically you weren't legally insured.

If you want the best rate, apply with everyone at the same time. The broker can even fill out the forms with the medical questions and send that in without a payment. You're not covered while you wait, but you'll get the exact price if you decide to proceed.

It's a steep learning curve bro, just don't jump off the side.

MHayes

I'm sorry, but I'm an actuary (FSA, MAAA) and this has to be one of the funniest (and most frustrating) threads that I've read here on Club Polk.

DJ, cfrizz (it's Cathy, right?) is offering you very good advice and knowledge, please take it and use it.

cfrizz

Yes, it's Cathy.:D

DJ, I'm sorry if I am sounding harsh. It's just that I'm worried about you, You could very well be at the beginning stages of diabetes. This damn disiese kills you from the inside out by destroying your internal organs. (like your kidneys!)

I don't give a rats **** if you get insurance or not. I just want you to take care of yourself!:(

MHayes wrote: »

I'm sorry, but I'm an actuary (FSA, MAAA) and this has to be one of the funniest (and most frustrating) threads that I've read here on Club Polk.

DJ, cfrizz (it's Cathy, right?) is offering you very good advice and knowledge, please take it and use it.

disneyjoe7

First I was never upset with anyone here. I felt the same about you, where you became concerned over me, in like an audio sister kinda way

ShinAce

cfrizz wrote: »

LOL! That's for sure, but we did have one client that tried to convince us to reverse the decision because he wasn't snorting coc, he was eating poppy seeds! that's how that coke got in his system!

I'm not an underwriter, but I see enough of it.

I would have no choice but to laugh at the guy and inform him that poppy seeds do not contain cocaine, they may however contain derivatives of morphine. I might then ask if he had a morphine addiction.

It's sad, because cocaine is like a nationwide ban on new insurance for maybe 5-10 years. Even after that, you're still getting a rating.

Kids, don't do coke.

cfrizz

I have worked in our underwriting dept for most of my 26 years with the company. And the more imaginative excuses generally have the underwriters rolling in the aisles with laughter!

I had to send out a letter from one of our underwriters informing someone that we were aware that they were declined by another company due to a positive coke hit, and that every other company would know if he tried to apply anywhere else!

ShinAce wrote: »

I'm not an underwriter, but I see enough of it.

I would have no choice but to laugh at the guy and inform him that poppy seeds do not contain cocaine, they may however contain derivatives of morphine. I might then ask if he had a morphine addiction.

It's sad, because cocaine is like a nationwide ban on new insurance for maybe 5-10 years. Even after that, you're still getting a rating.

Kids, don't do coke.