Case Studies
Positive drug test on older age client
Problem
Male client age 75 applying for $10 million of life insurance with unremarkable medical history tested positive for cocaine on his paramed exam and was declined for coverage. Client adamantly denied using cocaine.
Solution
The client was of Peruvian descent and had recently traveled to his native country for a wedding. 3 Mark’s underwriters investigated potential causes for the positive test and discovered it is common to drink a native tea containing cocoa leaves to alleviate nausea from the increase in altitude. 3 Mark provided this information to the insurance company, arranged for a new paramed which came back negative for cocaine, and provided several written character references for this insured.
Result
With this new information, the insurance company issued the client standard and the agent was able to place the case allowing the client to obtain the necessary coverage to protect against estate taxes. 3 Mark’s underwriters saved this $475,000 target premium case for the agent.
Elevated PSA’s on high profile coach
Problem
Male client age 57 who is a high profile coach of a professional sports team was applying for $20 million of term insurance. Agent was working with another BGA and was only able to obtain Table 2 offers due to an elevated PSA reading. The client did not want to pay the additional premium on the rating.
Solution
3 Mark’s underwriters obtained additional medical records which the other BGA had missed and were able to position them to show the elevated PSA’s were not a concern for the client’s health.
Result
With this additional information, the client was accepted at standard by the insurance company and the agent was able to place the case.
Multiple impairments on older age female
Problem
Female client age 80 with multiple medical impairments was applying for $8 million of coverage. Client suffered from peripheral vascular disease, hyperglycemia and B12 deficiency. Agent had received postpones, declines and high table ratings from insurance companies
Solution
3 Mark’s underwriters were able to identify an appropriate carrier with expertise in underwriting combinations of impairments on older age females. Working with the carrier underwriter, we were able to address their concerns, in part by explaining the cause of the B12 deficiency.
Result
The client was issued super preferred and the agent was able to place the case. The target premium was over $300,000.
Motor vehicle report violations on rapper
Problem
Male client age 30 who is an up and coming rapper was applying for $1 MM of coverage but was declined due to multiple MVR violations.
Solution
3 Mark’s underwriters were able to obtain detailed information to explain the circumstances of the MVR violations to the satisfaction of the carrier
Result
The case was moved from a decline to best class – preferred elite. Additionally, with 3 Mark’s help, the agent was able to move the case from $1 million of coverage to what the client really needed for protection which was $4.5 million.
