UNDERWRITING
Accelerated UW
Accelerated underwriting implies the process is fast … Some carriers , however , will order medical records , which can slow down the accelerated pace .
Setting your clients up for success
Accelerated underwriting is just that – accelerated but still underwritten . To ensure your client ’ s goals are met and you do not sabotage other possibilities by not applying with the right carrier the first time , consider the following points .
Qualify first
1 . Does the client need the policy as soon as possible ? Accelerated underwriting , or fluidless underwriting , implies the process is fast given most programs offer the possibility of no exam , if the client qualifies . Some carriers , however , will order medical records , which can slow down the accelerated pace .
2 . Is the insured comfortable with an electronic application process ? If not , your options will be limited .
3 . Insured age , amount , and product requested ? Check age and amount guidelines .
4 . Applied for any life insurance , disability insurance , or long-term care insurance in the last 12 months ? If so , was an exam completed ? If not , provide details .
5 . What coverage is currently in force and with which carriers ? If the client has over the threshold with one carrier , then that will eliminate that one off the bat .
Marie King Colbert , CFP ®, CLTC ®,
6 . Any health issues , build , tobacco status , medications , etc .? Be sure to Brokerage Manager at MRW Financial Brokerage , has over check knock out guides .
13 years of experience in life 7 . Did you provide a disclaimer upfront ? It ’ s important to let the client know insurance , annuity and long term this is the best option based on information provided , but accelerated care . Serving independent advisors with case design , sales support , underwriting or exam free is not guaranteed . and underwriting to meet their clients ’ goals . Accelerated UW continued on page 18
16 Perspectives Q2 2022