Case research and follow up with cardiologist reveals mistakes in client medical history, resulting in successful Key Person term coverage of $5M with target premium of $116K.
A 67-year-old male was seeking $5M of Key Person coverage.
His medical records included an echocardiogram indicating an abnormal ejection fraction of 41%. (Normal is 50% and above.)
This, along with the balance of his medical history, resulted in multiple declines, leaving the us without an initial solution for this significant case.
After receiving the string of declines, we discovered office notes indicating the echocardiogram was normal, contradicting the echocardiogram. These notes, combined with the absence of the typical follow up after this type of finding, led us to believe the discrepancy could be nothing more than human error.
Once we requested and obtained a clarification letter from the cardiologist explaining that the radiologist had input the wrong ejection fraction into the report, we discovered that the true ejection fraction was 61%, a normal finding.
With the clarification letter in the file, the case was approved.
The Advisor was thrilled, and ultimately placed the policy for $116,548 of target premium.