Where there’s a will, there’s a way: persist until you meet a customer’s needs
Tricia has a mortgage and she wants to make sure her family’s needs are being met as they carry their financial obligations.
But when she applied for life insurance, standard market insurers rejected her because she has high blood pressure. They did say they would reconsider their decision if her blood pressure remained stable over the next six months, but leaving Tricia without coverage is clearly unworkable.
However, we are in contact with so-called guaranteed issue insurers who extend coverage to everyone. That being said, they still ask medical questions. Not to mention, being turned down by standard insurers was a blemish on Tricia’s record. Insurers don’t like that.
Nevertheless, we approached four alternative (or non-standard) insurers. The first few quotes were not cost effective compared to standard market solutions so we kept searching.
Eventually, we sourced a competitively priced quote that also provided the right coverage for Tricia’s situation.
What’s more, the insurer responsible for that quote did not penalize Tricia for being turned down before or the high blood pressure. Simply, they did not factor those circumstances into their pricing, making things much easier for her.
This solution also offers Tricia considerable flexibility: in six months time, she can try her luck again with standard market insurers to get the lower rate. If she is rejected again, she can stay with the alternative market – being rejected does not invalidate her coverage.
Securing coverage for Tricia was all about doing our homework and persisting until we found a viable solution.
It goes to show that where there’s a will to meet customer needs, there’s a way.
Give us a call and let’s find a way to meet your needs.