{"id":3136,"date":"2016-08-24T15:22:17","date_gmt":"2016-08-24T20:22:17","guid":{"rendered":"https:\/\/www.figmarketing.com\/blog\/?p=3136"},"modified":"2024-02-21T15:45:48","modified_gmt":"2024-02-21T20:45:48","slug":"underwriting-advocacy","status":"publish","type":"post","link":"https:\/\/www.figmarketing.com\/blog\/underwriting-advocacy\/","title":{"rendered":"How Financial Advisors Can Advocate in Clients’ Underwriting"},"content":{"rendered":"

Updated February 21, 2024, at 4:18 PM<\/em><\/p>\n

In the life insurance brokerage business, it is important for an advisor to align with a team of brokerage underwriters who advocate on the client\u2019s behalf, helping to negotiate offers and navigating underwriting challenges.<\/p>\n

Having your brokerage underwriter, sales consultant and case manager all fighting for you and your client to obtain the best coverage available in the life industry is paramount.<\/p>\n

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Survivorship Underwriting Case Study<\/h2>\n

We once had a survivorship case that was assessed at Table 2 for the male due to an abnormal stress test, and Uninsurable for the female as we were unable to obtain any hematology records. There was a mention of thrombocytopenia history in her records. We appealed both offers with the following:<\/p>\n

For the male, though the stress test was technically abnormal, we \u201cargued\u201d that we have an active, asymptomatic individual, the stress test depression was only 1 mm, those depressions occurred at peak exercise, and the stress echo portion was normal with no evidence of ischemia. After reviewing and discussing our arguments with the chief underwriter, the offer was changed from Table 2 to Standard.<\/p>\n

For the female, after reviewing the records, a diagnosis for thrombocytopenia just did not make sense and we felt there was a mistake. We went back to the MD requesting a letter in regards to that history and indeed there was a mistake.\u00a0 The offer was changed from Uninsurable to Preferred Plus.<\/span><\/p>\n

The advisor was able to place the case and obtain the coverage for the clients.\u00a0 If we had stopped with the original offers, we wouldn\u2019t have placed the case and no one would have been happy.<\/p>\n

Survivorship Case Study #2<\/h2>\n

Another case was approved Table 2 due to a serum creatinine level of 1.4. Our underwriting team reviewed the labs and noted there was hemolysis, and it took 5 days from the time the labs were drawn and the time made it to the lab for processing. Both things that could impact the serum creatinine. The carrier underwriter took our arguments to their Medical Director and offer changed from Table 2 to the applied for Preferred.<\/p>\n

Once again, our underwriting team found an opportunity to improve this case by working with the carrier and finding room for improvement.\u00a0 Another win for the advisor, FIG and most importantly the client.<\/p>\n

Tips to Become a Better Field Underwriter<\/h4>\n

Provide a Cover Letter<\/h5>\n