Monthly Archives

March 2018

When it comes to Life Insurance – Don’t waste your Insurability with Lazy or Inexperienced Agents

By | Life Insurance

the HLD You-Centric Approach to Helping You By Health and Life InsuranceWhen it comes to your financial security – Doing business with the right person, who can show you the best way to protect you and your family, gets you more protection at a lower premium.

There is a REAL and IMPORTANT difference in how Life Insurance agents approach our profession.

My approach is “You-Centric” – to start by getting to know you – and discussing what is in your best interest.

When it’s time to shop for the right life insurance, at HLD, we use a double barrel approach and simultaneously submit to two carriers.  This optimizes your chances of getting the policy you want at the price you want because it makes insurers compete for your business.

Here’s the back-story: By submitting TWO applications at the exact same time you get a better offer than the traditional approach of submitting to one insurer and and waiting for their response. You see if you use that old style approach that most agents do you will lose time and normally your “edge” on insurability.  That’s because once you have been “shot down” by another carrier they report it to the Medical Information Bureau and this prejudges your next application.

Here’s a real life example:

A 63 year old male nonsmoker, 5 ’11” with Sleep Apnea, also treated with medications for High Blood Pressure and Elevated Cholesterol:

  • Current Coverage: $300,000 issued 2015 with 10 year guaranteed premium of $181.49
  • Client wanted to upgrade to gain Living Benefits – (Early payout for Diagnosis of Chronic or Critical Illness that affects life expectancy).

Using our “You-Centric” simultaneous application approach:

We took the information and submitted an application to two top carriers.  We did ONE health exam and sent the results to both carriers.

Both Carriers ordered Medical records.

Both Carriers Made an Underwriting Offer:

Carrier 1’s Underwriting Offer: Submitted a $400,000 10 year term at preferred a rate offer, standard non tobacco, due to history of impaired fasting glucose the resulting rate increased on final offer from $186.75 to $282.94 a month.

Carrier 2’s Underwriting Offer: Submitted $400,000 10 year term at a preferred rate offer, “approved Preferred as applied for”. Final issued rate $175.91

How’s That For A Great Result!

By the client using our “You-Centric” Simultaneous Underwriting approach he was able to benefit his family by:

  • Increasing his coverage from $300,000 to $400,000. An increase of $100,000
  • Gain and additional 3 years on the rate guarantee – 10 years vs 7
  • Lowered the rate from $181 to $175 a savings of $720 total over the term period vs his old plan.
  • The “You-Centric” approach saved him $12843.60.  This is the difference in premiums over the 10 year period between the two offers.  NOTE: Had he not done business with me he may have never known about this additional savings.

Having the right Agent that does business with you in mind actually does make all the difference in your outcomes.

Let us help you!

Mark Deschenes
General Agent / Owner
Ph. 1-800-257-1723 x 0101