How to Underwrite a Medicare Supplement Policy

Find the potential client is only half the battle.

See the video:

Many agents who are just starting out, say that they're spending so much time and energy finding a new prospect that they really want to get that first policy issued.

I can appreciate that.

But, it's not a qualified prospect if YOU answer NO to all of the bad health questions on the application, but in their mind, there is some lingering doubt as to whether they should answer YES or NO. Or, in the worst case, you as the agent never asked the question of them to begin with. Don't let that be you. Don't just take their word when they say, “I'm in great health.”

Here is what could happen. Not only is it fraud if you certify that they answered NO when they did not, but every company will be doing a phone verification call with these potential clients.

Why do they do that? They do that to check up on you, the agent.

They want to make sure that you asked, and got answered, all of the question on the application.

Your client needs to be so solid with their answers (of NO) to those health questions, that when anyone later asks them the health questions, they can answer the same way to the interview that they did to you.

It looks bad on the agent when their answers change when they make that verification call.

If they answer “YES” to one of the questions, don't give up right away. There are more companies that are lenient in certain areas and you owe it to them (and you) to look at the next two companies down the list to see if you can get them approved. (See this webinar on this topic.)

I just want to encourage you that if someone says they're in good health, make sure you have asked each and every question and they are sure that they can honestly answer NO to those bad health questions.

Also, these applications will be verified against ScriptCheck, making sure that the drugs they're on are not in conflict with the health questions. Most companies make you list all of the medications on the application (with the exception of New Era/Philadelphia American.)

Taking the time to find the right fit for the client is our job. Not all company health questions are the same. After working with a few, you will become an expert on what each company in your area will approve.

You can see the health questions for the Medicare Supplement companies here:

Have a great day!



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