Underwritings for high and ultra-high net worth individuals can be challenging.
Many of these individuals have executive physicals each year.
The executive physicals result in a lot of tests and therefore lots of data.
That is where the problem begins!
When the underwriters get hold of this data, they can misinterpret it to decline or rate the case. The underwriters are suspicious and not used to interpreting so much data even if it is normal. This profusion of data confuses them and leads to the decline or rating.
Advisors want and need these deals.
The insureds want the insurance.
So here is a case study that explains what Rupert Case Management (RCM) can do in this situation:
46 year old senior VP got a new job at a national company. A benefit of his new job was insurance.
A paramed came to the office to examine him. An EKG was done. The EKG went back to the insurer. It was reported as being abnormal.
The senior VP was told that he likely had a heart attack. He was declined.
RCM was retained by the employer to advise. We call this an Insurance Rescue.
After auditing the case, we ordered a cardiac MRI. The cardiac MRI showed that the senior VP had never had a heart attack.
We advocated for him with the underwriters and by moving up the food chain at the insurer and reinsurer by speaking to the medical directors. The cardiac MRI was the hard medical evidence that we used to get him standard rates. Everyone was winner in this case.
So, if an advisor has a high or ultra-high net worth client with the results of an executive physical, then Rupert Case Management is available to review the case before sending the data to the underwriter or after the underwriter has declined or rated the case.
To reach RCM- 24 hour call center 800 620 7551 or www.rupertcasemanagement.com and fill out the intake form.