When you complete an online quote request from an agency or broker website you will typically receive a phone call from a licensed agent to assist you in determining the best quote and carrier for your personal situation. This is to your full advantage as they represent your interest and receive compensation only by placing the case with a carrier that will approve you. The agent will typically complete what is called field underwriting and will ask you personal question regarding your health, medical history, medications, driving history to help determine what carrier will offer you the best rate class for you status. As an applicant for life insurance it is always to your advantage to disclose all medical concerns during the initial phone conversation. If you want the life insurance professional to come up with a “best rate class ”, then the agent will need to expect a truthful discussion about medical issues right from the start. A discussion of private details can be invasive even so, it is essential for the proposed insured to realize that the greater the detail of any challenge that can be discovered subsequent to the application and required physical exam, the easier the whole process will be.



The Benefits of Pre-Underwriting and Your Rate Class

Through full discovery of the consumer's health an experienced agent who is familiar with impaired health underwriting can utilize high-risk reference guides and access a support team to direct the consumer to the best carrier and rate class. Knowledge of which carriers specialize in certain impaired risk issues and the impact or lack thereof on mortality can make a big distinction between a client who may be heavily rated or declined into a qualified and affordable offer from the right insurance carrier. Additionally agents can identify more serious health concerns by having the proposed insured contact the physician to obtain medical records or completing a simple questionnaire regarding current health status in reference the current impairment. If the impairment “health issue” is more serious, agents may request a preliminary offer and submit to several carriers who specialize in high-risk case underwriting to assure location of the best class and premium for your specific requirements. Once approved by the carrier (s) the proposed insured can be presented the best rate class and premium and move forward with a formal application These impaired risk types of insurance polices require underwriters to rely heavily on attending physician statements, lab test results and recovery and will usually be presented by the agent with a cover letter to highlight any good details of the proposed insured's current health status, providing a quick quote for this type of case frequently leads to premium ranges so broad as to be inadequate and will require the offer prior to a determination of rate.

Realistic Expectations of Your Final Approval and Rate Class:

One of the utmost challenges in life insurance quoting is the proper education of the potential insurance buyer as to what may or may not be realistic premiums. In summing up, accurate quotes, it is often achievable to accurately quote and pre-underwrite a life insurance policy with ease, and then to proceed with a formal application to the right company from the beginning by simply asking a few in depth questions. Doing so gives a clearer picture of what can be expected speeds up underwriting, lowers the potential long-term cost of premiums, reduces declines and expedites coverage for the proposed insured.

In addition, more difficult cases with multiple coexisting impairments are 90% more likely to be placed at the most affordable rate class by investigating the medical profile in more detail. Despite the fact that this process takes longer than quick quoting rates, it is sometimes the more consistent approach for clients with multiple health issues, or previous surgeries where more detail can assure approval at the best possible terms with the right carrier