Underwriting Credits Help Make The Sale

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Carriers use crediting criteria to improve your clients’ ratings. The following case study shows how the identification and application of underwriting credits can significantly reduce premiums.
 
Case Study:
  • Male, age 35, NS
  • Seeking $2 mil of term
Scenario:
  • No tobacco use
  • Build is 5’8”, 204 lbs
  • Blood pressure 130/85
  • Cholesterol 273 with cholesterol/HDL ratio of 5.5
  • Father diagnosed with prostate cancer at age 56, but still living at age 67
Underwriting Rating: Using traditional criteria, this proposed insured would qualify for Standard Plus with a $3300 annual premium.
 
Crediting Criteria: Crediting Criteria added 1 inch to the proposed insured’s height, making him 5’9”, 204 lbs. He was then considered Preferred for build.
 
Final Decision: Case was moved to one class higher and issued Preferred – Annual premium = $2271 and saving nearly 30%.
 
On each case we see, we work hard to identify any underwriting credits your client may qualify for. Contact our Underwriting Department today.