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Company Confidential©2005 Genworth Financial, Inc. All rights reserved.
Company Confidential©2007 Genworth Financial, Inc. All rights reserved.
Long-Term Care UnderwritingPresented By:
Scott Hansen, AALU, FLMI
Genworth LTC Underwriter
Discussion Topics
Introduction
Field Underwriting
Holistic Underwriting
Appeal Process
Interesting Facts
Q&A…Let Me Hear From You Too!
New Business / Underwriting Process
Introduction
Scott Hansen, AALU, FLMI
Julie Moore, LTCP, ACS
Data EntryMail Handling
Screening & Req Ordering
Case Mgmt Follow-up
App DigReq Recvd
& Med Summ
Underwriting PostOutput Assembly & Mail
Mail Receipt:
•Open
•Prep
•Scan
•Index
•Transmission
Keying:
•Medical Details
•For Rubicon
•Med. Req. Ordering
•NIGO Notification
•Follow-up email or fax to field force
•Followup with vendors
•Daily Mail Processing
•PHI to Dig, then to UW
•APS to Med Summ then to UW
•Assess Risk
•Decision
•Addtl Req as needed
•Issue
•Decline
•Incomplete
•Withdraw
•Receive Output
•Assemble
Keying:
•Client Record
•Benefit Details
•Doctor Details
Front End COE New Business COE UW NB COE FE COE
LTC Operations Process Flow
Field Underwriting
Use The Correct Forms
Answer Every Question Completely
Probe Medical Histories
Complete All Requirements
Use All Available Resources
70% Of All Applications For LTC Insurance Are Incomplete
Applicants Exceeding The Build Chart Are Not Insurable
Available Resources
Brokers’ Service Marketing Group
LTC Field Underwriting Guide
Prequalification Hotline
Financial PRO Website
Internet Sites e.g. “Google”, “WebMD” or “AMA”
Extra Minutes On The Front-End Can Save Days In Cycle Time…And/Or…The Sale
Pre-Screening Questionnaire
Request for LTC Quote Date : --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Broker__________________________________________________________________________________
Name___________________________________ Date of Birth_____________________________________
Spouse_________________________________ Date of Birth_____________________________________
If only one person applying, are they married or have a partner? □Yes □No
State of Signature________ State of Residence________
Employment Status: □Individual □S Corp □C Corp □Partnership □Sole Prop
Premium Payment: □Individual □Corp
Daily Benefit: $ Benefit Period: Elimination Period Automatic Benefit Increase: □None □Simple □Compound Accelerated Payment Option: □Lifetime □10 Pay □To age 65 Carrier Selection: □MetLife □Mutual of Omaha □Genworth □Prudential □John Hancock □State Life
Additional Riders: (Where Applicable) □Shared Care □Return of Premium □Restoration of Benefits □Nonforfeiture □Waiver of Premium □ 0-Day Elimination Period on Home Care
Are you in competition? □Yes □No
Currently Using: You Your Spouse □Oxygen □Wheelchair □Crutches □Cane (# of prongs) □Yes □No □Yes □No Currently in a nursing home or receiving home health care? □Yes □No □Yes □No Currently on Disability? □Yes □No □Yes □No Have surgery scheduled? □Yes □No □Yes □No Have any physical limitations? □Yes □No □Yes □No Frequent or recent hospitalization? □Yes □No □Yes □No Tobacco Use? □Yes □No □Yes □No High Blood Pressure? □Yes □No □Yes □No Diabetes? (If Insulin dependant, please specify daily units used below) □Yes □No □Yes □No Please list below any additional conditions, medications including dosage, & any pertinent information that may reflect the insurability of your client. Name____________________ Height________ Weight________ ________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Name____________________ Height________ Weight________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Email________________________________ Fax_____________________________ Mail______________________________________ Any Questions? Please contact Kerri, 800-343-7772 or [email protected] or fax 401-709-6348
Important information to collect:
-Date of birth
-Most significant health issues
-Current medications with correct spelling, dosage, and reason prescribed
-Tobacco use
-Height and weight
Available Resources
Kerri Thibeault 800-343-7772 ext. 148
OR
Prequalification Hotline 800-354-6892
Prequalification Email [email protected]
PRO Website https://PRO.Genworth.com
Holistic Underwriting
We Want To Issue Coverage!
Compliance
“Guidelines” Not “Rules”
“Prognostic” Not “Diagnostic”
Does It Make Sense?
Holistic Underwriting
Consultations
Training / Ongoing Education
Consistency Audits
Quality Assurance
Exceptional Resources Contributing To Quality
Appeal Process
Key To An Appeal Is New Or Additional Information
Wait For The Letter Of Explanation (copy to Kerri)
Sharing Information
Authorizations (RMI) (Submitted With App)
Sensitive Histories
Fax 800-245-4094
Our Performance
Pending
Issue Rate
Daily Decisions
Cycle Time
Additional Requirements
You Directly Impact All Steps In The Process!
Q & A
Questions For Scott & Julie
Questions For Kerri & Ray
CONTACT US
Kerri Thibeault 800-343-7773 ext. 148
LTC Marketing Specialist [email protected]
Ray Paola, LTCP 800-343-7772 ext. 133
Director of LTC [email protected]