Look Outside The Box To Save A Case

An Underwriting success story about how a postponed case was turned around.

Here are the details:
  • 71- year- old female looking to replace $1 million of guaranteed UL coverage
  • Postponed informally due to recent labs in the APS showing severe anemia

Case was discussed in more detail with the carrier underwriter who took the time to provide recommendations regarding how to re-package the case to obtain an offer:

  • Request a letter from the client’s MD on the cause of the anemia
  • Secure a current, favorable CBC panel (complete blood count)

Fortunately, the client’s doctor identified the anemia as iron deficiency.  Subsequently, the client was started on iron supplements which resolved the anemia.  This was confirmed by a normal CBC panel she completed.

New Decision: Standard!

With the updated favorable medical evidence, this carrier was able to offer Standard rates which resulted in a placed case!

Our Underwriting Team is here to help with all your impaired risk cases!

The Key To Success: Answering Your Underwriter’s Questions Before They Ask Them

If you were an underwriter and received the following application on your desk, what questions would you have?:

  • Female, age 35
  • Noted to be retired with no annual income; Net worth left blank on the app
  • Seeking $8 million of term coverage; Purpose of coverage left blank on the app

You’d be scratching your head wondering – why is this woman retired at such a young age, and why is she looking for $8 million of coverage?

What the broker forgot was a good cover letter explaining the purpose of the coverage.  This client just inherited a very large estate and recently quit her job.  Estate taxes were a concern – based on the inheritance, the $8 mil applied for was justified.

We’re here to help.  We’re here to provide our expertise when it comes to writing good cover letters – we can even help write them for you.

We’ll help explain the purpose of your application to our carrier underwriters.  That said, the most important source of information about a proposed insured is you – we’ll need your help to prove your applications are financially justified.

Key information we’ll need:
  • What is the purpose of the application?
  • How was the face amount determined?
  • Who will be the policy owner and premium payer?
  • What is the current amount of in-force and applied for insurance?
  • Do you have any other pertinent documentation you can provide to explain how the amount of insurance was determined?

Give our Underwriting Team the opportunity to help you move your applications smoothly through underwriting.  If we answer our underwriters questions before they ask, who knows?  We could see quicker approvals, which gets you paid faster – and we all move on to your next big app waiting to happen.

A Sweeter Deal – Impaired Fasting Glucose

In the years leading up to the development of Type 2 diabetes, most individuals go through an asymptomatic condition called pre-diabetes.  During this time, fasting blood sugar levels may be slightly elevated and there may be other signs of disruptions in normal metabolism, such as high triglycerides, low “good” (HDL) cholesterol levels and excess fat around the abdomen.

Approximately 1 out 3 American adults have pre-diabetes.  When caught at an early stage, it is possible to head off development of Type 2 diabetes with diet changes and weight loss.

One of our A+ carriers can underwrite favorably on pre-diabetes cases that show a stable, well controlled condition.

Take a look at this case study:

Male, 55 years old
Non-Smoker
Seeking Personal Coverage

  • History of hypertension that has been well-controlled with medication and exercise.
  • Two years ago, a routine annual check-up revealed a blood sugar reading that was higher than normal.
  • Follow up glucose levels remained elevated (in the 100-103 range), but never high enough to suggest outright diabetes.  He was then diagnosed with Impaired Fasting Glucose.
  • His doctor suggested exercise and a change in diet to include reduced carbohydrate intake.
  • Has done well with his new diet and exercise regimen; ongoing lab testing has shown no progression in his condition.

This client had the beginning of pre-diabetes caught early by routine testing.  Because he responded well to dietary changes and exercise, this condition has not progressed and he is at lower risk of developing diabetes in the next several years — if he maintains his new, healthy habits.

Potential Underwriting Outcome: Super Standard Non-Tobacco, with potential improvement to Preferred using this carrier’s Healthy Lifestyle crediting program.

Call your Life Underwriting Team to discuss your client’s medical history today and let’s work on your next success story!

Obesity + Lap Band Surgery = Standard

Obesity in the United States has been increasingly cited as a major health issue in recent decades.  While many industrialized countries have experienced similar increases, obesity rates in the United States are among the highest in the world.

There are several types of surgeries that fall under the group of “bariatric surgery” designed for people that are obese.  Lap band surgery (laparoscopic adjustable gastric band), is an inflatable silicone device placed around the top portion of the stomach to treat obesity, intended to slow consumption of food and thus the amount of food consumed.

One of our Strategic Carrier Providers look favorably upon this type of surgery and with applicable credits, will make a favorable offer.

Let’s take a look…

A female client, aged 32 years, is seeking $500,000 of 10-year Term Life Insurance, history includes:

  • Build of 5’6 and 212 pounds
  • Blood pressure 120/76Lap band procedure 2 years ago

The initial underwriting work up – Table 2.

Then, the following underwriting credits were applied:
  • Optimal blood pressure
  • Lifetime nonsmoker
  • Regular preventative care
  • A1c Test < 5.7
  • Preferred driving record

Final Offer – Standard!

Our Underwriting Team is here to help with all of your impaired risk cases.  Please contact us today – we will help you make the sales!

Key To Success: Answer Your Underwriter’s Questions Before They Ask

If you were an underwriter and received the following application on your desk, what questions would you have?

  • Female, age 35
  • Noted to be retired with no annual income; Net worth left blank on the app
  • Seeking $8 million of term coverage; Purpose of coverage left blank on the app

I know you’d be scratching your head wondering why is this woman retired at such a young age and why is she looking for $8 million of coverage?

What the producer forgot was a good cover letter explaining the purpose of the coverage. This client just inherited a very large estate and recently quit her job.  Estate taxes were a concern.  Based on the inheritance, the $8 million applied for was justified.

How can we help in this situation?

We are here to provide our expertise when it comes to writing good cover letters.  We can even write them for you.  We will help explain the purpose of your applications to our carrier underwriters.

However, the most important source of information about a proposed insured is you, so we’ll need your help to prove your applications are financially justified.

Key information we’ll need includes:
  • What is the purpose of the insurance?
  • How was the face amount determined?
  • Who will be the policyowner and premium payor?
  • What is the current amount of in-force and applied for insurance?
  • Do you have any other pertinent documentation you can provide to explain how the amount of insurance was determined?

Give us the opportunity to help you move your applications smoothly through underwriting.  If we answer our underwriters questions before they ask them, who knows?

Quicker approvals leading to faster receipt of commissions – then we move on to your next big app waiting to happen.