Underwriting

Give your next case a lift with Lab Lift

Now, your clients submitting paper applications can enjoy an exam-free experience with great level term pricing and coverage options from LGA.

With Lab Lift, the best of both worlds will be available to eligible clients using paper applications. Electronic health records (EHRs) or an attending physician statement (APS) will be used as a substitute for a paramedical exam and fluids — by pulling medical data and lab results from recent physician visits. All rate classes, including Sub-standard, are eligible for the program.

It’s easy to use

Agents decide which clients to include in the program by submitting the paper application with a simple one-page cover sheet including the date blood work was last completed and physician information.

It’s convenient

For eligible applicants for Lab Lift, we are waiving full paramed and EKG requirements for the applicable ages and face amounts.  Parts 1 and 2 of the app must be completed.
Agents with customers who would typically complete Part 2 during a paramed can use ExamOne to complete the application.

Visit lgamerica.com/au to learn more

Legal & General America has made improvements to their underwriting guidelines in the following areas:

• Recreational Marijuana Use
• Inspection Reports
• Visa and Green Card Considerations

See this flyer for additional information.

Click HERE for new guidelines from AIG.  Among other things, all cases with ratable build will be postponed starting December 14th.

From the underwriting department at Prudential:

“Underwriting Communication – E-cigarettes:

The purpose of this note is to give everyone a heads up that we will be changing our position on e-cigarette users.

As you are aware, vaping has been at the center of the news over the past few months and linked to a few deaths and multiple illnesses. There have been warnings from the FDA, federal government and some states banning the use of flavored e-cigarettes.

We took a stand a few years ago when e-cigarettes started gaining popularity to treat them similar to the way we assess the use of cigars, pipes, chewing tobacco, etc………………treat them as non-smokers and offer NSP as our best class. We received some pushback from our reinsurers at the time but stood by our decision and wanted to keep a close eye on it.

I truly believe it is time for us to change and classify vaping as a smoker and reduce the overall risk exposure to the company. Our reinsurers also have been asking us when we will make the change so obviously support this action.

I wanted to get advance notice out to all of you so you are aware and can start communicating the change to your external partners. We are looking to make a quick system change to reflect users of e-cigarettes as smokers on applications dated 10/21/2019 and later. We will honor any application that has already been written prior to that date and will continue to consider those applicants as non-smokers.”

Please call our office for more details.

Click here for updated guidelines.

Currently, Prudential accepts residents of Venezuela at NSP rates. However, that is changing. The country is being moved to a decline based on the overall endemic and political situation. Prudential is looking to make this change effective September 1, 2018, but will remain flexible with any case that may be in the works prior to that date. If you have any questions, please contact our office immediately. Prudential appreciates your understanding as to why they need to make this quick update.

Prudential is excited to launch the PruFast Track on August 20th. PruFast Track was developed to simplify the underwriting process by leveraging Predictive Modeling and is available for most single life products at ages 18 – 60 and face amounts between $100,000 and $1,000,000. Clients who qualify for the top three underwriting classes are generally eligible for an accelerated underwriting decision (no exam and/or lab test) within days for some of the healthiest clients, although in some cases, an APS may be required in place of an exam or lab.

Beginning August 20th, any eligible application that is submitted through the Xpress Quick Form or Drop Ticket will automatically be on the PruFast Track underwriting path. When using the Xpress Quick Form or Drop ticket a tele-interview specialist will collect the required medical and risk information from the client. Exam or lab requirements should not be ordered with the application; doing so will automatically remove the application from PruFast Track and put it into the traditional underwriting path.

Eligibility

Ages 18 to 60
Face Amount $100,000 to $1,000,000
Electronic submission with tele-interview
All products except PruTerm One, PruLife UL Plus, and Survivorship products
U.S. Residents

Restrictions

No insurance exam ordered or completed in conjunction with the application
Single application submission (no additional applications)
No long form applications
Cases quoted Smoker, Preferred Smoker, or Substandard are not eligible

FASTER COVERAGE ON IUL & VUL POLICIES? OH YEAH!

A purchase process that is simpler for your client, faster for us to support, and easier on you to complete.

• No labs, APS’s, Para-meds, or physical exams.
• Easy processing with fewer requirements to gather.
• Same competitive products – no changes to compensation, product, or expense.¹
• AG Quick Ticket available today for IUL: online processing – faster submission – faster commission.

Non-med underwriting details »

Beginning April 16, 2018, Max Accumulator+ and AG Platinum Choice VUL 2 can be processed with non-medical underwriting.

Satisfy your need for speed and accelerate your business.  Learn more » Prerecorded training webcast also available

New from Pacific Life — Smooth Sailing Underwriting

• Up to $500,000 Life Insurance Death Benefit* With No Medical Exams
• No Needles – No Blood Work – No Bodily Fluids – No EKGs – No Treadmills
• Ages 50–69, Any Risk Class Including Substandard
• Client Experience: Phone Interview and Application with Comprehensive Physical and Blood Work available from Primary Physician within last 18 months
• Additional Requirements: We will order the typical prescription report, medical information bureau, and motor vehicle reports

More details here.