Underwriting tips and strategies. Linked articles provide questions for certain impairments and introduce a variety of clever underwriting strategies. Posts are designed to encourage advisors to invite us to handle impaired or large risks on their behalf.
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 […]
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 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 […]
Underwriting Strategies for Jumbo Life Cases Estate tax funding, business succession, and key person indemnification strategies are often financed with tax-efficient life insurance. Most of these cases benefit from, or require, coverage from several leading insurers. This article prepares Financial Advisors for their discussions with clients who want to purchase life insurance to cover their […]
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 […]
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 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, […]
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 […]
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) […]
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 […]
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