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CPS RELIABLE Underwriting

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Underwriting Family History = Preferred Underwriting Class To Make The Sale!

This A+ carrier’s underwriting guideline provides one more option for your client with a less than favorable family history.

When it comes to underwriting, this carrier takes an aggressive approach and looks closely at controlled impairments.

Let’s take a look at this Underwriting Case Study:
  • 55-year-old male
  • Non-tobacco user
  • Applying for $5,000,000 of UL coverage
  • Receives annual checkups from his Primary Care Physician
  • Favorable build, blood pressure readings and lab work including lipids
  • Current medications include Lipitor and Lisinopril
  • Recent, imaged study recorded as normal in medical records
  • Father died at age 58 of coronary artery disease
Their offer: Preferred!
 
In this case study of family history with heart disease, this carrier can apply a credit for individuals that have one single family member that died prior to age 60 due to heart disease. With good risk factors and favorable cardiac work up (stress test, EBCT), a family history of death prior to age 60 from heart disease can qualify for a potential Preferred!
 
Contact our Life Underwriting Department to learn more about how we can help you make that next sale!
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Using Existing Exam Requirements

“Can we still use the same exam?”
 
We often hear this question in underwriting. Perhaps a client recently placed coverage and is considering applying for more. Or maybe they did not receive the rate class they applied for and wish to apply to a different carrier.
 
Whatever the scenario, it’s always good to hear that it’s not too late to use the same exam!
 
For several carriers:
  • Ages 0-70: Paramed, blood and urine specimens and EKGs are often good for up to 12 months
  • Ages 71 and over: Paramed and blood and urine specimens are good for up to 6 months. In some cases, EKGs are good for up to 12 months

*Current medical declarations or good health statement must be within 90 days of policy issue.

Call the Underwriting Team today to find out more!
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Underwriting With Digital Data – Milliman IntelliScript

In this digital age, insurance companies have reshaped how they assess life insurance risks. One of these ways is by gathering prescription and medical claims histories through Milliman IntelliScript, a digital health data platform. This allows carriers to streamline underwriting decisions by reducing the need for full medical records and lab testing.

Milliman reports include:
  • Prescription history including dates and refill information
  • Medical claims data from health insurance billing, which includes diagnosis and procedure codes, doctor visits and hospitalizations, and lab test orders (results not included)
  • A list of physicians who prescribed medication and/or visited

This information helps carriers identify chronic conditions, length of treatment, and any high-risk procedures or hospitalizations.

In some cases, however, these pictures are not so clear and may result in adverse decisions based on limited information. This is where our knowledgeable Underwriting Team can determine what additional information is needed, help build a clearer picture, identify any inaccurate information, and create better underwriting outcomes.

Milliman reports are available to consumers who have applied for insurance and authorized release of information to the insurance company. Applicants can request a copy of their report through Milliman’s online portal at no cost to the consumer.

🔗 https://www.rxhistories.com/contact/#report 

Contact our Underwriting Team if you want to learn more about digital underwriting and how we can help with better underwriting outcomes.

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Executive Underwriting – No Exams, No Labs

Many executives and professionals undergo executive physicals each year. These types of exams include a comprehensive health review, complete lab panels and cardiovascular testing.
 
These may be conducted at the individual’s personal physician’s office or through a formal program at major health care facilities, such as Mayo Clinic or Cleveland Clinic.
 
If your professional client has completed a comprehensive executive physical within the past 12 months, they may be eligible for permanent or term coverage through a streamlined underwriting process, without the need for an insurance paramedical exam and labs.
  • Ages 25-65
  • Up to $40 million of coverage
  • Medical records are required and must include the Executive Physical Exam meeting a minimum criteria of physical measurements with vitals (height, weight, blood pressure reading, pulse), medical history review, full panel blood and urine tests, and cardiovascular testing
  • Term, Indexed UL and Variable UL plans, including Survivorship (spouse must also have had an eligible physical in the past 12 months)
  • Preferred and Standard classes
  • Executive/Professional occupations; Minimum annual income $100k
Contact our Underwriting Team for assistance or more information.
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LTC Underwriting V.S. Life Underwriting

In the past, traditional stand-alone LTC policies were the only way to insure long-term care expenses. These days, there are more ways to obtain this valuable coverage – including LTC riders on Life Insurance policies.

Underwriting long-term care risks can be very different than underwriting for life insurance. LTCi underwriting takes into account medical impairments that impact ability to perform daily living activities. Whereas, life underwriting is more concerned about impairments that affect mortality, or life expectancy.

In some cases, your client may be eligible for life insurance at a favorable rate class but may be rated or declined for long-term care.

This case study shows how different underwriting mortality vs. morbidity can be: 
  • 62-year-old female
  • Seeking $1 million of UL coverage with a Long-Term Care rider
  • Nonsmoker; normal build
  • Hypothyroidism diagnosed in 1980; well controlled on medication
  • Was seen once by a chiropractor for back pain with improvement
  • Diagnosed with scoliosis
  • Final underwriting decision: Super Preferred for life coverage; Standard for the LTC rider due to scoliosis and back pain history

Non-traditional long-term care insurance and chronic illness riders are the perfect solution for those impairments that would be declined for traditional LTC riders. These alternative riders are automatically available on eligible permanent products with little to no additional underwriting.

Whatever the case may be, there is a product we can pivot to, to cover long-term care needs. Contact your Underwriting Specialist, we’re here to help you sort through the different options and pre-qualify your client for this much needed coverage.

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Adventures In Underwriting

Mountain climbing, scuba diving, auto racing, aviation… Adventure enthusiasts may find themselves faced with an extra rating and increased premiums if they participate in any of these types of higher risk activities.
 
This Upgrade Program may help to remove an extra rating of up to $2.50 per $1000 of coverage for certain avocation scenarios. This program is available for both permanent and term plans.
 
For example:
  • 37 year old male, non-smoker
  • Seeking $1 million of Term coverage
  • Healthy with normal build, blood pressure and cholesterol
  • No adverse family history
  • 12 years of experience in trail, rock and mountain climbing – participates only in groups, never alone
  • 4-5 climbs annually in the Pacific Northwest
  • Highest elevation 13,000 ft
  • YDS (Yosemite Decimal System) class 5.0 to 5.4
Initial underwriting assessment included a $2.00 per $1000 permanent flat extra rating.
 
Under the program, this case was eligible for an upgrade to Standard NT without a flat extra rating.
 
Contact the Underwriting Team for help in finding the best possible underwriting outcomes on your avocation cases.
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A Healthy Lifestyle Will Give You Wellness Credits!

Wellness crediting programs can help give clients who maintain a healthy lifestyle the potential to be upgraded to a better underwriting offer and price.

For example, one program is open to:
  • All Ages
  • All Face Amounts
  • Most of their product line (some product exceptions apply)

An insured may be credited up to two classifications, including from Preferred to Preferred Plus. This crediting program can improve substandard ratings, too.

Some of the criteria includes:
  • BMI range of 22-29 (ages 18 and older)
  • Untreated blood pressure < 120/80
  • No incidents of CAD, diabetes or cancer in parents or siblings prior to age 60 years, or both parents live to age 75 or older
  • Normal routine colonoscopies, mammograms, pap smears, CBCs, skin checks in the last 3 years
  • Hemoglobin AIC readings 5.0 – 5.5 range in the last 12 months

Call the Underwriting Department to discuss your client’s health history and this program for the best possible outcome!

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Preferred Is Possible For Thyroid Cancer

The thyroid is a butterfly-shaped gland located at the front base of the neck. It produces hormones that regulate heart rate, blood pressure, body temperature and weight.
 
Thyroid cancer occurs when abnormal cells grow in the thyroid gland. The incidence of thyroid cancer seems to be increasing as new technology is allowing doctors to find small thyroid cancers that may not have been found in the past. The most common type of thyroid cancer is papillary carcinoma and has a good prognosis, particularly in individuals less than 50 years old.

One of our A+ carriers takes an aggressive approach to underwriting thyroid cancer and in some cases, can offer Preferred rates.

Take a look at this case study:
  • Female, age 43, non smoker
  • Stage I papillary thyroid cancer diagnosed and treated 2 years ago
  • Completes regular physician follow ups
  • May qualify for PREFERRED Non Tobacco rates
Contact our Underwriting Team on your thyroid cancer cases and lets work together to get the offer you need!
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Credit Where Credit Is Due – Helping You Make The Sale!

Diabetes is a metabolic disease in which a person has high blood sugar either because the body does not produce enough insulin or because cells do not respond to the insulin that is produced.
 
The most well known types of diabetes are:
  • Type 1 (treated with insulin)
  • Type 2 (treated with a combination of diet, exercise and oral medications) and
  • Gestational diabetes (a type of diabetes which occurs during pregnancy.)
When diabetes is coupled with a client who is not an ideal weight, the underwriting class will increase.

Crediting programs can help give credit where credit is due – applying health and lifestyle credits to provide the best possible offer.

Let’s take a look at this case study:
  • 54-year-old female
  • Non-tobacco user
  • Applying for $1 million of Term Life
  • Has type 2 diabetes; treated with Metformin
  • Build is 5′ 3″, 220 lbs
Initial work-up – Table 4
 
The client received credits for:
  • Lifetime non-smoker
  • Income > $100,000
  • Preferred or better driving record
  • Negative cardiac testing
  • Controlled blood pressure
Once those positive credits were applied, this client went from Table 4 to an Underwriting Offer of Table 2.
 
Contact our Life Underwriting Team today – let’s work together to make your next sale!
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Key To Success: Answer Your Underwriter’s Questions Before They Ask

If you were an underwriter and received the following application on your desk, what questions would you have?
 
  • Female, age 35
  • Noted to be retired with no annual income; Net worth left blank on the app
  • Seeking $8 million of term coverage; Purpose of coverage left blank on the app
I know you’d be scratching your head wondering why is this woman retired at such a young age and why is she looking for $8 million of coverage?
 
What the producer forgot was a good cover letter explaining the purpose of the coverage. This client just inherited a very large estate and recently quit her job. Estate taxes were a concern. Based on the inheritance, the $8 million applied for was justified.
 
How can we help in this situation?
We are here to provide our expertise when it comes to writing good cover letters. We can even write them for you. We will help explain the purpose of your applications to our carrier underwriters.
 
However, the most important source of information about a proposed insured is you, so we’ll need your help to prove your applications are financially justified.
 
Key information we’ll need includes:
  • What is the purpose of the insurance?
  • How was the face amount determined?
  • Who will be the policyowner and premium payor?
  • What is the current amount of in-force and applied for insurance?
  • Do you have any other pertinent documentation you can provide to explain how the amount of insurance was determined?
Give us the opportunity to help you move your applications smoothly through underwriting. If we answer our underwriters questions before they ask them, who knows?
 
Quicker approvals leading to faster receipt of commissions – then we move on to your next big app waiting to happen.

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