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Underwriting Success Stories

Mia Dempsey, New Business Manager
(Asset Marketing Systems)

Asking someone about their personal medical or lifestyle information can be awkward.  On the other hand, having that conversation early on is better than losing the sale.  The Asset team is here to help with some ideas to make the conversation beneficial and effective in positioning the sale. There’s no need to go back to “re-sell” the insurance due to underwriting surprises.

Idea #1: Utilize the underwriting resources on the Asset Portal.

 Asset provides you access to the X-ray system. This system gives you the ability to enter as much or as little information you have regarding the clients’ health conditions, family history, or driving violations. The system will then pull the data directly from the many carrier underwriting guides to give you the most accurate assessment of the client’s risk and health class.

If contracted, visit the Asset Portal and click on the Life Department link to run a Term Quote

Underwriting Success Story:   There was a client who was a little short for their weight. The agent was able to use the term quoter to find the carrier with the most lenient build chart. What would have been Table Rated at one carrier was Preferred at another.

Idea #2: Know the carrier underwriting sweet spots

The Asset team is here to help you find solutions for specific client underwriting risks. Take a look below to find a few carrier sweet spots.

    • ADHD: Minnesota Life/Securian
      • Minnesota Life will consider for Preferred for diagnosed ADHD.
    • Anxiety/Depression: Banner
      • Banner will consider for Preferred if the client is on one prescription and is well controlled.
    • Cigar Smoker: Prudential
      • Prudential allows two or fewer cigars a month (with no nicotine showing in the urine) to consider for Preferred Best Non-Smoker class!
    • Family History of Cancer: American General
      • American General ignores family history if the parent was diagnosed over the age of 65. They will also ignore gender-specific cancer.
    • Marijuana Use: Brighthouse
      • A client can use recreational marijuana on a daily basis for a Non-Smoker Table rate. They also do not test for THC during the exam process.

Underwriting Success Story:   There was a client that enjoyed a drink or two each night. Due to the field underwriting completed by the agent, he was aware of this and was able to move the conversation from one IUL company that he knew did not have an “appetite” for alcohol use to another, thus enabling his client to receive the best possible offer.

Idea #3: Utilize our risk assessment process to get ahead of any underwriting issues

To avoid potential underwriting “land mines”, complete our generic health questionnaire for your client. The Asset New Business Team can help you determine if the client has any adverse risks that might affect the outcome of the underwriting.

If so, we will use that information to obtain a tentative offer* from a carrier or carriers based on the supplied information.

Click here to download the questionnaire.

For any questions or concerns on a new or existing case, contact the Asset Marketing team at (866) 546-5267, option 2.

* Tentative offers received from the carriers are not binding and are subject to a formal application and full underwriting requirements. When submitting the application for the client please note that a quick quote was completed, so the tentative offer can be sent along with the application.