We don’t always think of underwriting as a gift, but it can be. Presenting a case study:
We received an app for a 66 year old male client seeking $1.2 mil of term coverage to cover a $1.2 mil business loan. The challenge was that this man had not seen a doctor in well over 5 years, and his insurance labs showed an elevated PSA (prostate specific antigen) reading. We had no prior PSA readings to compare these readings to. Our initial thoughts were that carriers may postpone him until he was fully evaluated by an urologist.
However, after discussions with one fine underwriting director, a carrier was willing to consider credits regarding the client’s favorable build, blood pressure readings, family history and lab results (excluding that PSA). Not only was the client approved at Standard Non-Tobacco rates, but the carrier was willing to consider the full amount of the loan value. The case was placed!
It’s a gift that keeps on giving – the client is covered and happy to move forward with his new business plan; and his trust in the agent is established and may lead to additional coverage in the future as well as referrals.
The Life Underwriting team is here to help you receive your gifts.