Underwriting Insights
This page shares recent underwriting experiences, strategies, and tips. Most recent updates are listed first.
Advantage of Layering Jumbo Life Insurance Applications
Advantages of Layering Jumbo Life Insurance Applications
Underwriting Elevated Liver Functions
Underwriting Elevated Liver Functions Key Considerations Insurer selection is key to achieving favorable outcomes Key variables: cause of the elevated liver functions; level of elevation of liver enzymes over time; alcohol use pattern; build; The more information we have about your client in advance of an application, the more accurate our carrier recommendations and preliminary […]
$15M Exam and Lab Free Life-Insurance
$15M Exam and Lab-Free Life Insurance Key to Success: Carrier Selection / Underwriting Exception Applicant Summary: M, 58, Healthy Executive, No Tobacco Use Need: $100,000,000 of Life Insurance to Pay Death Taxes Advisor calls CPS Advantage to line up $100M life insurance on a client to cover a portion of estate taxes. The client already […]
Renewed Underwriting Saves $22,486 in Life Insurance Premium
Renewed Underwriting Saves $22,486 in Life Insurance Premium
Tobacco Underwriting Exceptions
Tobacco Underwriting Exceptions Key Considerations Goal: qualify tobacco users for non-tobacco life insurance rates, finding the right exception, cutting their premium in half Insurer selection is key to achieving favorable outcomes Key variables: how the tobacco is consumed, the type of product used, frequency of use, the date of most recent use, and whether the […]
Marijuana Underwriting
Marijuana Underwriting Carrier Selection is Key Insurer selection is key to achieving favorable outcomes Key variable: frequency of use Favorable criteria: no other drug or excessive alcohol use; no DUIs, criminal background, no diagnosis of anxiety or depression; stable job, family life The more information we have about your client in advance of an application, […]
Underwriting Past Cocaine Use
Underwriting Past Cocaine Use Key Considerations Insurer selection is key to achieving favorable outcomes Favorable underwriting variables: No other drug use No excessive alcohol use / DUIs No criminal record Not diagnosed with anxiety or depression Stable employment, family life We get many inquiries from Advisors whose life insurance applicants tested positive for cocaine on […]
Prepare for a Life Insurance Paramedical Exam
Preparing for a Life Insurance Paramedical Exam & Labs It’s often best to de-risk life insurance underwriting by taking advantage of exam and lab-free intelligent underwriting programs. Some applicants may even qualify for up to $135M of exam and lab-free life insurance through one or more executive underwriting programs. If an insurance paramedical exam, labs, […]
Exam and Lab-Free Life Insurance
Exam / Lab-FREE Life Insurance Life insurance buyers love the convenience of exam and lab-free applications. They also avoid surprise ratings and declines from: Abnormal liver functions Elevated glucose Blood or protein via urinalysis T-wave abnormalities on an EKG How many of your applications have derailed because of these findings? De-risk your clients’ life insurance […]
De-Risking the Life Insurance Underwriting Experience
De-Risk Life Insurance Underwriting
Underwriting Elevated Liver Functions
Underwriting Elevated Liver Functions
Second Underwriting Opinion
Second Underwriting Opinion Use this form if you have assisted a client who was rated or declined within the past 12 months. Submit with prior: Application Paramedical Exam Lab Results (not just the ticket) EKG Underwriting, aviation, avocation and similar questionnaires Underwriting comments explaining rating or decline Signed HIPAA (e-signature is OK) Depending on the […]
Underwriting Diabetics
Underwriting Diabetics
Avocation Exclusion Riders
Avocation Exclusion Riders Insurers often charge extra premiums for individuals who engage in private aviation or risky hobbies they call “avocations.” Some applicants believe this is silly. Nothing is going to happen to them! They may not be willing to pay the extra premium required. Instead, they want to self-insure for the possibility something happens […]
Executive Life Insurance Underwriting Strategies
Executive Life Insurance Underwriting Strategies Executive life insurance underwriting programs now enable some healthy applicants to obtain north of $150M coverage without insurance physicals. Clients love the convenience! Advisors also benefit by avoiding underwriting complications from elevated blood pressure, abnormal labs, or new t-wave abnormalities. When you work on jumbo cases, let’s try to de-risk […]
Two Advantages of Obtaining a Generic HIPAA
Financial Advisors should consider two advantages they derive from obtaining a signed generic HIPAA with every life insurance application. First, a signed HIPAA is required by law, if you wish to discuss medical underwriting details with third parties. Given that a relatively high percentage of applications result in underwriting challenges, a HIPAA enables you to […]
Life Insurance Underwriting Strategies for Prostate Cancer
Incidence rates for prostate cancer approximately equal age: approximately 50% of men in their 50s are likely to have some form of prostate cancer, and 80% of men who reach their 80s have the disease. Therefore, it is important for financial advisors to be familiar with life insurance underwriting strategies for prostate cancer. Prostate Cancer […]
Life Insurance Underwriting Strategies for Elevated PSA
Life insurance applicants are sometimes assessed an extra premium due to elevated PSA findings in their insurance company labs; most life insurers screen for prostate cancer by measuring current PSA levels in male applicants age 50 and up. Such findings, which can be caused by several conditions other than prostate cancer, are common among men […]
Intelligent Life Insurance Underwriting Strategies for Jumbo Cases
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Cigarette Smokers Qualify for Non-Tobacco Premiums
Only ONE highly rated brand name insurer offers occasional cigarette smokers super-preferred non-tobacco life insurance premiums, cutting their premiums in about half. A recent example: Kaitlyn, F, 56, actress, smokes a few cigarettes per month, seeks $2M permanent life insurance as a legacy for her son: Tobacco premium = $46,910 Non-tobacco premium = $24,263 Annual […]
Non-Tobacco Premiums for E-Cigarette Users & Vapers
Only ONE highly rated brand name insurer offers a lab test that makes it easy for e-cigarette users (vapers) to qualify for non-tobacco rates, cutting premiums in about half. Let’s look at a recent request: Kayla, F, 26, attorney, vapes daily, needs $3M 20-year level term for income replacement purposes Tobacco premium = $3,024.70 Non-tobacco […]
5 Questions
5 Questions Answers to the 5 Questions below will enable us to match a life insurance applicant with the insurer, underwriter, and product that will result in the most favorable post-underwriting outcome. A little time invested prior to a formal application goes a long way toward having a happy client when you deliver the policy, […]
Skin Cancer
Life Insurance Underwriting Strategies for Applicants with Parkinson’s Disease Parkinson’s Disease (PD) is a chronic degenerative condition of certain cells in the brain. Incident rates rise with age, typically beginning after age 45. Approximately 1% of the population above age 60 has some form of PD. Life expectancy from the date of diagnosis is often […]
Underwriting Exceptions for Tobacco Users
Identifying non-tobacco pricing solutions for tobacco user is key: it cuts premiums in half for the most popular forms of life insurance. Several highly rated life insurers currently offer non-tobacco pricing exceptions for: Daily cigar smokers Dippers, chewers Some vapers Occasional cigarette smokers Former daily cigarette smokers who quit smoking 12 months ago (or earlier) […]
Breast Cancer
Life Insurance Underwriting Strategies for Applicants with a History of Breast Cancer Breast cancer is the 2nd most common type of cancer for women in the U.S.; only skin cancer is more prevalent. Approximately 1 in 8 women will develop breast cancer – 12% of the female population. Men can also develop breast cancer, but […]
Parkinson’s Disease
Life Insurance Underwriting Strategies for Applicants with Parkinson’s Disease Parkinson’s Disease (PD) is a chronic degenerative condition of certain cells in the brain. Incident rates rise with age, typically beginning after age 45. Approximately 1% of the population above age 60 has some form of PD. Life expectancy from the date of diagnosis is often […]
$5M Life Insurance Without Exam or Labs
Life Insurance WITHOUT Exams, Labs, Hassles A highly rated mutual insurer now offers younger healthy individual and business applicants to apply for up to $5M life insurance without exam or labs! Information is collected via an easy, secure, online process, making the application process faster and easier than ever. Policies can be structured to include […]
International Travel
Life Insurance Underwriting Strategies for International Travelers Lower labor costs have shifted the production of many consumer goods to remote undeveloped parts of the world. Global entrepreneurs and company executives are frequently required to travel to remote locations to set up and supervise manufacturing activities. These individuals, and sometimes their employers, are often interested in obtaining […]
Anxiety
Life Insurance Underwriting Strategies for Applicants with Anxiety Anxiety and related mood disorders are extremely common; most people will have related experiences from time to time. From a life insurance underwriting perspective, the greatest concern lies with a new diagnosis, moderate & severe bouts, and chronic disorders. In preunderwriting a risk, we need to differentiate […]
Depression
Life Insurance Underwriting Strategies for Applicants with Depression Depression and related mood disorders are extremely common; most people will have related experiences from time to time. From a life insurance underwriting perspective, the greatest concern lies with a new diagnosis, moderate & severe bouts, and chronic disorders. In preunderwriting a risk, we need to differentiate […]
