FIELD UNDERWRITING GUIDE TIP #2: Three Simple Tips to Eliminate Underwriting Delays

Posted by Nickelle Leist on Fri, Oct 5, 2007 @ 06:49 AM

ELIMINATE UNDERWRITNG DELAYS

Common areas often overlooked:

• Completing a signature everywhere a signature is asked.
• If a question is answered with a "yes," details regarding that question need to also be provided.
• Checks to make sure all dates on the application are the same.
• For example, First Colony will refund a check if the date on the check is different than the date on the conditional receipt.

2) Doctor Information that is often not included:

• Name
• Address
• Telephone number
• Date of last visit
• Reason for last visit

3) If the insured is submitting an application and the primary care physician is from Kaiser remember to include:

• Kaiser authorization
• Along with the application
• It takes approximately four weeks to receive a Kaiser APS, no matter how many pages in the APS.

Did You Know? 

• The agent must make sure he/she is appointed with the carrier before submitting an application. If contracting is not submitted prior to submitting the application, the insured may have to fill out another application.
• If an application is being replaced, a replacement form is always required. If it is not submitted with the application the advisor will have to go back to the client for follow up which may make the agent look unprofessional.
• AIG requires the Exempt Employee Certification form on all cases when the policy owner and beneficiary is an employer, regardless of where domiciled or located, applying for life insurance on the life of a current or former employee who is a California resident.