A GOOD BUSINESS DECISION!
Most of us would not make a decision that involved our income without getting all of the facts in advance and acting on the facts that we got. This is just good business practice. However, almost daily, I see situations where an agent has reduced his or her chances of getting paid on a case by as much as 50%. That is bad, but what is worse is that they could do ONE THING differently and prevent that problem.
I am referring to the applications that we receive (or quotes that we are asked to run) where we have NO IDEA what the actual health situation is for the prospect. We look at the prospect and they don’t look like they weigh as much as we do – so we interpolate that we could probably get them a preferred risk (or if we aren’t wearing our glasses we might even think they will qualify for a select preferred rate – so we quote it that way and we submit the app).
WHAT WE DON’T KNOW:
What we don’t know from looking at the prospect is that his father died at age 45 of heart disease. Or we don’t know that her mother died at 50 from breast cancer. We don’t know that he chews tobacco when he mows the lawn or has a cigar when he plays golf. We don’t know that she races motorcycles on the week-ends. We don’t know that he is planning to travel to Iran to visit his relatives in October. We don’t know that he quit cigarettes 6 months ago. We don’t know that has asthma and is taking steroids. There is a LOT we can’t tell by looking at our prospects.
THE EASY SOLUTION:
We have talked about this before – but this is the ONE THING each of us can do to improve our bottom line – immediately. Please stick with me.
THE SIMPLE SOLUTION:
When you have determined that the suspect is now a prospect, you say to them, “In order for me to give you and accurate quote, I need to ask you a few questions . . . “
1) Have you ever smoked cigarettes or do you use any tobacco product?
2) Have you ever been rated or declined for insurance?
3) What is your present height and weight?
4) Do You have high blood pressure or cholesterol issues?
5) Has any member of your family (parent or sibling) had a history of or died from breast, colon, prostate, ovarian, melanoma or lung cancer? OR have they had heart disease or any cardiac related condition?
6) Do you participate in any hazardous activities (sky diving, scuba diving, rock climbing, rodeo, auto or motorcycle racing)?
7) Do you plan to travel or reside outside the United States in the near future (you can’t ask this question in Florida)?
All of these questions are the “Pre-Qualification Form" and – so all you need to do is ask the questions on the sheet. If we run the illustration for you – you can just fax or email the questionnaire to us along with your plan description and we will use that information to give you what we believe to be the proper rate for your client. We are 90% accurate when we have the information.
Just click on the the download button, complete the (fillable) form and email it to us - OR print off some of these forms and keep them handy. When the time comes – whip one out and dazzle your clients with your efficiency and thirst for the correct answers.
Thank you for your business!