HOW TO HANDLE YOUR MODS

Modifications

• What is a MOD?

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• The original policy that was written has been modified

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• Why are policies modified?

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• Several reasons, but normally due to health or habits

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Modifications

• Everything you need to know about underwriting bulletins and mods are in this powerpoint

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• Make sure to speak with your mentor as much as possible until you are confident handling your mods

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• Go to planet for anything you need for quality

https://www.planetaltig.com/e-signatures

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Modifications

• What are the different types of mods?

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• C.O.D. – cash on delivery – rating
• Signed Amendment – the policy has changed
• RT99 – signed amendment lowering the benefit amounts & premium the same

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You have 8 days MAXIMUM to complete these and if not completed 1 of 2 things happen:

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1. The SGA conservation dept. recodes the policy, you lose the policy and you have a front end charge back

2. The policy goes NTO, they family isn’t covered, you lose the policy and it hurts your quality

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Underwriting

• So 1^st we need to understand underwriting

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• Underwriting starts in the home with the agent and starts in section B of your script
• When you ask the medical questions in section B, ask them correctly and as they are in the script – never be suggestive
• An example would be you don’t have any medical issues do you while nodding your head no
• If they have medical or habit issues, use your underwriting manual in hp-pro and follow up with questions on the issue to determine how to proceed
• Sometimes you have to let the member know they don’t qualify and so you must determine which route to go
• Examples would be other products like cancer or the double up program on the spouse

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Underwriting

• After you enroll the member, you now ask the medical questions
• Again, ask the medical questions exactly as they are

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• When they answer yes to any questions (other than the physical exam) you must fill out a questionnaire
• When you fill out a questionnaire, you must collect all possible info including –
• all questions on the questionnaire
• anything you deem relevant like:
• when diagnosed
• meds with dosage and frequency
• DR info – phone, address, when last seen
• hospitalization and timeline
• does it affect daily activity
• how long out of work
• anything else you can think of

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Underwriting

• When you handle the underwriting in the home, it helps the underwriter at home office and when they don’t have to attempt to find more info on the client, you will reduce your underwriting bulletins

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• Underwriting Bulletins
• These are the most urgent and they typically mean that home office needs more info because the agent missed something
• You have 4 days MAXIMUM to complete these and if not completed 1 of 2 things happen:

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1. The SGA conservation dept. recodes the policy, you lose the policy and you have a front end charge back

2. The policy goes incomplete, they family isn’t covered, you lose the policy and it hurts your quality

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• Lets review underwriting bulletins:

Underwriting bulletins

• Underwriting Bulletins (remember 4 days MAX to complete)

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• APS – attending physician statement – call the DRs office and get the records faxed to you or to the Redmond quality specialist
• 800# - this usually always means you didn’t collect enough info on their condition and home office needs more. Have the client call the number RIGHT NOW and follow up with the client in 15 minutes to verify its complete
• Questionnaire – home office needs a questionnaire filled out
• Physical – the company needs the agent to get a physical scheduled for the client
• Oral kit – this is the most important – get this completed immediately because when an oral kit is not received, the advance is taken from the agent and never given back

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***Always email your Redmond quality specialist so they can make notes for home office on the work you have done to complete the underwriting bulletin

Oral kits

• Oral Kits (only for in person sits)

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• What are the 3 reasons you need an oral kit?

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• They don’t use tobacco
• They have over 100,000 in whole life/term coverage combined
• They don’t put their spouse or children as beneficiary

Modifications on planet

• Where do I find mods?
• Planet Altig

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When you log into planet, you will see this orange notice stating you have a policy that requires action. Click on the policy tab to see the policies

Underwriting requirements on planet

• After clicking the policy button on the home page of planet you will see this:

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Underwriting Requirement

All the info for the policy including date the requirement happened and the client’s info

Notes that the underwriter has input into CAS so the agent can track what is going on with the policy

Resolving mods

• After reviewing the mod, make sure to add notes, print any amendments and resolve after handling
• Clicking the resolve button does not physically finalize the policy

Amendments

Click here to get the signed amendment which looks like this:

Amendments

• The signed amendment needs a signature from the policy holder and is typically due to a part of the coverage or a member being excluded from the plan

Mods on planet

• Where do I also find mods?
• Mobile Planet App

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When you log into mobile you will see the mod section light up in red indicating you have policies that require action

Mods on mobile

When you click on the mod section on mobile you will see how many policies that you have that require action and what type it is

Mobile Planet App

Click the section you want to see and it will show you the policies

Mods on mobile

• After clicking on the policy it shows the policy info, the notes at the bottom and you can call or resolve the mod right on the

Modifications

• The difference between a mod and an underwriting bulletin is that a mod is completely through underwriting and it needs to be finalized
• Lets review mods:

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This is a mod

What is needed is a signed amendment and a c.o.d.

Where did the rating come from, the source and any additional info on the policy

Modifications

• C.O.D. (cash on delivery)
• When handling a c.o.d. make sure to have all of the information before calling them so you understand why they were rated
• The script is very simple:

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Lets review how to place the c.o.d.

Calling to place the C.O.D.

Hi John, this is (name) with AIL. I was out a few weeks back to take care of your permanent benefits through AIL. I have great news, you were approved for your benefits. There was a slight adjustment of (weekly c.o.d. amount) due to your (health condition) like we spoke about in your home. I will put that through and you will see it drafted from your bank in the next day or so. I will send your policies so look out for them in the mail. Congrats. Do you have any questions?

Placing the C.O.D.

• Placing the c.o.d.

Click the link and it will take you to this page:

Inputting the C.O.D.

• Input all of the info the company is asking

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• The top question – is this a recode – never click yes if it is your own policy

Modifications

• Other things that show in your mod inbox are:

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• Return Item – banking rejected and you need to get the bank draft through
• Lapse notice – the client missed their payment and you have until their next draft to re-draft or they will lapse

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• Always blame the bank in these situations and find out when you can re-draft their account. Input the re-draft onto the webpage so you can get the policy back on

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Modifications

• Always remember the best tip for quality

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• If they have anything wrong always TRIAL
• This way if they policy does have a mod and for whatever reason incompletes, NTOs or cancels, it never affects quality

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• Go make this your best quality week ever!!!