Filed under: Accuquote News, Personal Life Stories
Like so many of life’s good things, finding and getting quality life insurance means a person has to be involved. Or at least let’s say, it doesn’t hurt. Life insurance is a product not much different than many other products we buy. As such, you want to get the best product for your money. Certainly if you are serious about paying for life insurance for the next 10, 20, or 30 years.
If you went into an electronics store to buy a new HD TV, would you accept the one the store owner wanted to give you? Or would you want the TV you felt best suited your needs? That’s not to say that the store owner can’t be credited with giving you good advice or selling you a quality TV. It’s just that you wanted something just a little bit better.
As a case manager, I’ve seen that happen with insurance. Recently, an involved, persistent, energetic, and patient client decided that he was “worth” the insurance he had applied for. He had applied for insurance and been approved at a rate class just below his application. The reason for the approval rating was valid and legitimately decided.
Now many clients would have accepted the approval rating as is. And there’s nothing wrong in that logic. Part of the life insurance approval process and guidelines mean that not every application will reach an approval decision as applied for. That’s why there is an application process and an underwriting process: to reach a decision on the level of insurance and risk factor.
Back to my energetic, involved, and patient client. He decided that he could do better. His decision factor had been close anyhow. Remember, I told you he had only missed his application approval by one or two risk rates. In discussion with the insurance carrier, AccuQuote sales person, and myself , the applicant pursued a better approval rating.
His application was post-poned and waited for newer information to be provided for the underwriter to review.
I had the easy part, just keeping the lines of communication open between the applicant and the insurance carrier. I was only too happy to call him and tell him the good news a couple of weeks later. I congratulated him on his ‘hard work, efforts, and … especially … his patience and persistence’.
As a result of this client’s commitment and involvement, he was approved at a preferred rate!
You know what else, he was still kind enough to say … ‘thank you’.
So, get involved in your application. When you’re approved, ask yourself — or better ask your agent — if you might be able to get a better rate with a higher face amount value.
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