Securing life insurance coverage for clients with significant health challenges can be daunting, but a tech-enabled life insurance brokerage, like Modern Life, can help make the process seamless. 

This case study highlights how Modern Life successfully assisted a financial advisor in obtaining a standard rating for a client with multiple medical issues. 

Background

An advisor approached Modern Life seeking assistance securing life insurance coverage for a 68-year-old man with a complex medical history. The client had an underperforming Variable Universal Life (VUL) policy and wanted to utilize a 1035 exchange to obtain new coverage. 

The client wanted to maximize his existing $1.5 million cash value for a $4 million death benefit with a more stable product. He wanted to set up a one-pay premium structure to keep the policy active through age 119.

Challenges faced

The client faced significant medical challenges that complicated securing new coverage, including:

• An inflammatory illness, Chronic Calcific Pancreatitis (CCP).
• A platelet disorder, thrombocytopenia, which caused his platelet counts to be in the 60s.
• A cardiac CT scan indicated an increased Coronary Artery Calcium (CAC) score from 309 a few years prior to 536, placing him in the 82nd percentile for his age group.

The advisor had previously tried to secure new coverage for the client but received only Table B offers or outright denials due to these medical issues.

Our approach

Medical history analysis and presentation

Our brokerage team highlighted the client’s asymptomatic status for cardiac issues, such as no indication of shortness of breath, and emphasized his regular exercise routine. Our team also detailed his stable cardiac markers, including lipids, NT ProBNP, and C-reactive protein (CRP).

After discussing the case with several insurance carrier underwriters, we prepared a comprehensive cover letter, noting the absence of any cardiac symptoms and favorable CRP and NT ProBNP. We also outlined the stability of the CCP and Platelets. Based on our analysis, we argued for a plus-zero debit and standard rating. 

Despite this, the carrier initially offered only a Table B rating. Further complicating matters, the client’s updated lab results showed lower platelet levels, leading to a retraction of the offer.

Appealing the decision

Our brokerage team appealed the carrier’s decision and conducted a detailed analysis of the client's complete blood counts (CBCs) dating back to 2019. We demonstrated that although his platelet levels were low, they had been stable for several years without any concern expressed by his doctors. In fact, the low platelets on the updated labs were consistent with previous readings, which we argued were abnormally normal for this client.

We also showed that several other blood markers, including his red blood cell count (RBC), had actually improved since the last reading the carrier had on file. Additionally, we noted that the client drank red wine nightly for heart health and that alcohol could contribute to the lower platelet count. 

This new presentation, in conjunction with our previous health analysis, helped put the client in a better underwriting position. 

The results

With our persistent efforts, we secured exceptional results for the client:

• By presenting a well-documented and persuasive appeal, Modern Life successfully obtained the client’s target coverage of $4 million at the desired standard rating.
• The client was able to exchange his underperforming VUL policy for a new, more suitable product.

Next steps

Modern Life is dedicated to getting the best coverage for clients no matter what. Our brokerage team has decades of experience dealing with difficult-to-insure cases. Schedule time with us to learn more about our underwriting capabilities or get a second opinion on a challenging case.