Table D to Standard on UL, IUL, Whole Life, and 2nd-to-Die!
Table shave program, when combined with the right kind of “underwriting management”, can be a huge revenue opportunity for you and a god send to your health challenged clients. We have delivered on a lot of challenging cases. We have seen competitive companies shave 3 tables down to standard…
BUT TABLE 4 TO STANDARD IS UNBELIEVABLE!
This latest program from a top rated carrier with a competitive set of products to meet many client needs and goals, is one of many we have access to and can use to help you and your client get the best possible rating. Substandard cases can be pure gold because you have the most motivated buyer you could possibly wish for.
Here’s a perfect analogy. Let’s say your house is on fire. You would buy life insurance at any price in that instance (if you don’t have it already.) This is exactly the same with life insurance. Those that have had health scares realize this and are motivated more that evert to get their life insurance in place – at any cost! Learning how to work with the carriers and leverage their underwriting programs and available table shaving program can become a huge profit center for your business.
Sometimes carriers have specials – like this newly announced table 4 to standard program, sometimes they have programs that apply to one product and not another, and sometimes they need a little nudge based on an offer from another carrier on the same case. It’s a fact that carriers turn off/on their underwriting programs, make exceptions to their current programs, and make adjustments for their larger producers. But it’s hard to keep track of what’s available, who to call, and how to move the needle when you really need it. You have to be vigilant, but has the time to sit around watching every carrier’s announcements every day? Making a 100 phone calls to underwrites? Getting that extra data the carrier asks for?
ARE YOU LEAVING SUBSTANDARD GOLD ON THE TABLE?
As a result, advisors and brokers often walk away from any case that has “underwriting stress.” They just walk away (or deprioritize), such a case in favor of the other cleaner cases they have going on. Unless they have a BGA or their own on staff underwriter who know what to do, when to do it, and who to do it with.
SO WHICH PROGRAM WHEN? HOW DO YOU MAXIMIZE RETURN AND MINIMIZE YOUR EFFORT?
Since the answers to these questions can be a moving target, leave that to us. Our team is constantly monitoring and working with carriers and their underwriting team/programs. We’ve had success with client even with seemingly impossible health history and current challenges. Some even with multiple issues!
* Coronary bypass
* And more!
The programs and our staff’s expertise can create amazing results:
- 2nd-to-Die – Getting coverage even with one insured being uninsurable
- UL, GUL, IUL, and WL – Getting table shaves for several tables
- Term – Table B to Standard or reduced rating multipliers.
- Recently Former smokers or non-cigarette tobacco users and still get non-smoker rates at standard or better!
- Even when avoiding a rating is not possible, we have programs that can lower the premium significantly by paying the same total death benefit over a few years instead of all in one lump sum!
- Any case – Identifying lifestyle/health points based on client medical records.
YEAH, BUT DON’T THESE CASES TAKE FOREVER?
Actually, they can, but usually that is because of case mismanagement on the carriers side. We take care of that too.
In some situation we can utilize available express underwriting program. But that being the exception with sub-standard cases, our case management team knows just how far (rating wise), we can go with the different carriers and still come out ahead of the average processing time. Leveraging the right table shave program can mean an in good order submitted application could be ready for delivery in as little as 15-30 days. Recently we helped a broker place a type 1 diabetic, age 57, who was in “average” overall health for someone with his medical history with a Standard Non-Smoker rate in just 21 business days! So yes, it is possible. In fact, when you have our team of experts on the case, it’s highly probable!
DON’T WALK AWAY FROM SUB-STANDARD GOLD!
Don’t side on the sub-standard sidelines. Give us a call and we can help you turn what was once frustration and time delays into consistent success – sub-standard gold!