Working with Producers
Moderator: Karen Pope – New York Life
Panelists:
Tom Bacher – Prudential Financial
Walter Jones – Raymond James & Associates
Bryan Langdon – New York Life
April 27,2006
ILTCForum - Working With
Producers
1
Underwriting Vs. Sales
April 27,2006
ILTCForum - Working With
Producers
2
Underwriting is Not
The Sales Prevention
Department
April 27,2006
ILTCForum - Working With
Producers
3
Topics to address
Where would we be as an industry without
our producers?
How do we assist in improvement of Field
Underwriting?
What is the best way to effectively
communicate a decline?
Understanding the work the producer/agent
went through to make the sale.
April 27,2006
ILTCForum - Working With
Producers
4
How do we assist in improvement of
Field Underwriting?
Keep the channels of communication open between
the underwriters and sales team
Produce easy to understand agent guidelines
Underwriting guides
Ht/Wt tables
Drug charts
Common co-morbidities
Be consistent in decision making practices
Provide the field with great pre-screen questions to
ask their clients
April 27,2006
ILTCForum - Working With
Producers
5
How to effectively communicate a
decline?
Give as much details as possible
Don’t make the agent feel like an idiot
If possible, have a dialog
Don’t embarrass the agent in front of the
proposed insured
Use as a training tool
Why this is a bad risk for LTCi
Help the agent see the risk from a different pointof-view
April 27,2006
ILTCForum - Working With
Producers
6
Understanding the work the agent went
through to get the sale
LTC sales are not always easy
Applicants don’t always tell all
Sometimes an application is taken even
though the agent knows it is a decline
April 27,2006
ILTCForum - Working With
Producers
7
The Helping Hand
April 27,2006
ILTCForum - Working With
Producers
8
A Helping Hand
Know the best pre-screen questions:
Date of last physical exam
What medications are you taking and why?
Do you use any type of walking aids?
Has there been any recent hospitalizations,
nursing home or home care services? (why)
Are there any “memory” issues?
What are their hobbies/activities?
Do these require them to get out of the house, interact
with others, involve physical activity?
April 27,2006
ILTCForum - Working With
Producers
9
A Helping Hand
Know the requirements for the product
you are selling
Set expectations with the client
Explain what a telephone interview is
Give details and make sure your client
knows when a Face to Face assessment is
a standard part of the underwriting process
Provide an expected timetable
April 27,2006
ILTCForum - Working With
Producers
10
A Helping Hand
Remember failure to follow-up with a
doctor does not always mean full
recovery, it could be a sign of neglected
health
A pre-screen applicant does not equal
an approval
April 27,2006
ILTCForum - Working With
Producers
11
Prescreen Does Not = Approved
Pre-screen Info
Application
Medical Records
62 yr male
6’2” 210 #
Hypertension on
Tenormin 140/75
Arthritis on mobic
6’2” 200#
Hypertension &
Arthritis
Meds listed:
Tenormin & Mobic
6” 260#
HTN - stable
RA in hands with
joint deformities in
his fingers and right
knee
Meds prescribed:
Mobic, Methotrexate
Remicade
April 27,2006
ILTCForum - Working With
Producers
12
A Helping Hand
Know co-morbidity
Think morbidity not mortality
What is co-morbidity?
2 or more medical conditions that can
make an already existing disease state
worse.
April 27,2006
ILTCForum - Working With
Producers
13
Co-morbidity
Respiratory disorder and smoking
Diabetes and heart disease
Osteoporosis and smoking or excessive
alcohol use
PVD and smoking
Joint problems and obesity
April 27,2006
ILTCForum - Working With
Producers
14
Claims & The Producers
After the sales of LTCi, the relationship
with the agent and client doesn’t end.
On the claims side of the house, how
many times do you see agents get
involve in the process?
Do you find it helpful or a hindrance?
April 27,2006
ILTCForum - Working With
Producers
15
Underwriting, Claims and Sales are all
Team Members
We are making a
better LTCi industry
by learning to work
together and build a
strong and viable
industry
April 27,2006
ILTCForum - Working With
Producers
16
Questions & Answers
April 27,2006
ILTCForum - Working With
Producers
17