Complex Underwriting

Leveraging a convergence of data, technology, and automation to underwrite more efficiently

The Problem

Consumers believe getting life insurance can be too difficult and invasive if they are not in perfect health. Often times your clients experience long underwriting processes only to get declined or approved at prohibitively expensive rates. This creates a negative customer experience and leads to lost opportunities.

Advertisements for instant issue and/or accelerated underwriting fail to explain that declines and traditional underwriting can still be common. This creates delays and client frustration. As soon as they sign up with their broker they are declined or go into traditional underwriting. Creating more delays and negative mindset on the process and how long it takes to get an approval from the carrier.

At USA BGA, we can help alleviate that stress for your client. Have them answer the following questions to see if they qualify for a technology forward solution to their underwriting issues.

Common Questions

  • Would your client benefit from having an accurate medical summary on what the life insurance carriers see when they pull your medical information before you apply?
  • Would your client value a comprehensive risk assessment of what they would pay up front for multiple carriers?
  • If your clients do have some health issues...would it make sense to see which carriers would value their business and offer them the best options before you choose a carrier?
  • Would your client like to know if you would be able to apply for a carrier without doing a medical exam or waiting 1-2 months for your doctor to release medical information on your behalf?
  • Have your clients been declined or rated higher then expected on your life insurance before? Would they like to avoid that situation and be able to compare multiple carriers at once that actually want their business?

Our Answers

  • Fill out a simple survey that is HIPAA compliant. Have your client sign and we will get started with getting the information you need to make an informed decision for your client.
  • We will advise you what carriers are saying and what risk category your clients should receive based on their medical data without a lab sample.
  • After shopping multiple carriers and choosing a carrier that will work for your client. Getting them closer to decision by either going accelerated path or pivoting to the right solution after labs are completed by examiner.
  • We can summarize the APS for the client upfront and have a solid strategy for getting the best rate for your client.
  • We specialize in specific underwriting challenges and can establish a fair rate for your client.

The "Healthy" Client

Case Facts:

Male, Age 51, One medication disclosed.

Goal:

Has another policy form 2018, wanted to get additional coverage through a guaranteed universal life policy

Challenges:

Client told broker he was super healthy. Medical data indicated previous Hepatitis, Diabetes, and poor control of Blood Pressure with Medication.

Solution:

Found out client would not qualify for Preferred Rate class like in 2018. Most carriers advised Table 2/4. Client applied with carrier that offered Standard based on data we provided. Client was approved at standard vs the competition was offering table rates. Saved client $3,000+ yearly.

Behavorial Medications

Case Facts:

Female, Age 62, four medications disclosed.

Goal:

Was declined in 2020 and carrier told her she was uninsurable. Wanted a second opinion.

Challenges:

Medical data indicated long history of mental health issues and medications. One suicide attempt in young adult age range.

Solution:

Because suicidal attempt was over 20 years old and the client had 3/4 medications that were stable for 5 years. We were able to get client approved at Table 2 ratings. We had her doctor physician statements reviewed and summarized for the carriers we shopped for her and was given a conditional offer before labs were even completed. Client was immensely grateful for our solution.

NT-proBNP Levels High

Case Facts:

Male, Age 58, two medications disclosed.

Goal:

Was declined in 2021 because of proBNP peptides were too high for carrier to offer coverage. Looking for help since never had any heart issues.

Challenges:

Medical data indicated no heart related illness or medications.

Solution:

Found out that BNP was under 250. Shopped multiple carriers and spoke to underwriters about acceptable levels for life insurance risk categories. Approved at Standard with carrier because no other major heart related issues were found and client had good medical standings through PCP. Client was elated.

Reach Your Goals with us

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