Posted by Vickie Bianculli on Mon, Nov 3, 2008 @ 11:05 AM

These handy one-page questionnaires allow you to ask the absolute basic information about a client’s known health issue, which in turn provides us with the necessary information to obtain tentative ratings from carriers.

In the underwriting section of our website (www.provada.com => Log In => Tools => Insurance Brokerage => Underwriting) you will find quite a selection of quick quote forms for various health impairments that you may access when trying to determine a rate class for your client.

The questionnaire may be completed by your client, or you may ask the questions yourself - No signature required.

Posted by Anonymous on Mon, Nov 3, 2008 @ 11:03 AM

INCLUDE A COVER LETTER!!!!

Posted by Nickelle Leist on Thu, Jun 12, 2008 @ 02:42 PM

Controlled Impairments Play a Key Role in Underwriting

When it comes to underwriting underwriter's have a few tips to help you understand how controlled impairments are viewed - which in turn may help your life cases.

To underwriters, controlled impairments like the one's below indicate positive factors:

• Later age of onset of disease
• Compliance, stability, regular medical follow-up
• Risk-factor modification/clinical stability and improvement

In addition, they consider a possible range of ranting:

Posted by Nickelle Leist on Thu, Jun 12, 2008 @ 02:35 PM

If so, check out West Coast Life's NEW Liberalized Underwriting Stance on MVRs & Moving Violations!

Posted by Nickelle Leist on Fri, Oct 5, 2007 @ 07:49 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

Posted by Nickelle Leist on Fri, Oct 5, 2007 @ 07:41 AM

1. CREATE A FLAWLESS COVER LETTER

Field Underwriting guide provide tips and instances when including a cover letter is crucial and/or necessary to the case, such as when:

Posted by Vickie Bianculli on Fri, Sep 7, 2007 @ 07:00 AM

Knowing the basic timeline prior to submitting a case allows you to set expectations, which gives you and your client a better idea of what to expect. Below is the process and timeline we utilize at Provada, which is fairly typical of well-run Brokerage General Agencies. The first part of this post is specific to life insurance policies while life settlement processing is discussed at the end.

APPLICATION SUMBISSION:

• Allow 4-6 weeks for a simple application.
• Most Brokerage General Agencies (BGAs) process applications within 24 hours of receipt.
• If medical records are required, allow for 2 additional weeks. This can vary depending on the applicant’s doctor’s ability to get the records out to the BGA.

UNDERWRITING REQUIREMENTS:

• Clients are typically contacted by the paramedical firm with 24 hours of the requirements being ordered.
• BGAs are typically updated weekly by the paramedical facility.
• Once the exam is completed, results are received within 5-7 working days.
• An average turn around time of 10-14 working days for medical records ordered from doctors and medical facilities.