Overcoming Ratings & Declines
3 Easy Steps - Carrier Selection is Key
It’s very frustrating to have learned from underwriting that a case has been rated or declined due to tobacco use, marijuana smoking, elevated liver functions, build, glucose…
The good news is that our industry has many highly rated insurers, most of which have an underwriting niche or two. Let’s leverage their expertise to your and your client’s advantage!
We know timing is critical – you and your client want answers, fast! We have worked on your colleagues’ Special Risk cases for over 30 years. Our 3 Easy Steps second opinion underwriting delivers answers, quickly!
Step 1: Submit Underwriting Information
Please submit all of the following with one secure email or upload via our Second Underwriting Opinion portal.
- Prior application (or key pages that tell us basic applicant data)
- Recent paramedial exam
- Lab results, not just the lab ticket (your client either has been sent results – or can request them)
- EKG
- Medical underwriting, aviation, foreign travel, or avocation questionnaires you may already have
- Detailed comments from the underwriter explaining the underwriting decision, and any options for reconsideration
- Signed HIPAA; e-signatures OK
- Illustration used for the original application, or a description of the coverage needed, how long, with maximum annual premium tolerance
Step 2: Review of Options
- Our medical underwriting directors will apply their experience to recommend the most aggressive carrier(s) and what underwriting class to expect.
- We will model solutions for you, considering the type of product desired, benefit needed, and the applicant’s premium tolerance.
- You and your client decide on the best course of action.
Step 3: Formal Underwriting
- We obtain a formal application and related forms.
- We order additional medical records required but not provided as part of Step 1 (typically Attending Physician Statements).
- Our underwriting directors will negotiate the risk with their counterpart at the appropriate insurer and confirm a formal offer.
- The policy is issued, placed, and you get paid.
Avoid Ratings & Declines in the Future
Avoid Exams & Labs with Intelligent Underwriting
De-risk underwriting by encouraging your clients to take advantage of exam and lab-free intelligent underwriting programs for all healthy, eligible applicants. Up to $5M of life insurance is now available through age 50 from a highly rated mutual insurer. Use our easy online life insurance quote request form to pre-qualify applicants.
Optimize Insurance Paramedical Exam and Lab Results
For applicants who cannot qualify for exam and lab-free underwriting, skew the odds in their favor! Coach them on how to minimize the introduction of avoidable adverse underwriting evidence with these important pre-exam recommendations.
Obtain Multi-carrier HIPAA
For any application you write with any carrier, obtain a signature on our multi-carrier HIPAA; e-signature is OK. Your client will be impressed with your ability to deliver the best possible solution from among all those highly rated, well-known insurers! With a signed HIPAA, you have the option to explore ideas for Plan B, in case the initial app did not produce the most desirable underwriting outcome.
