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3 Important Underwriting Reminders for Year-End & Beyond

The rush to year-end is on. While there is still plenty of time to place your business, AgencyONE thought a reminder of sorts would be helpful in getting your cases successfully placed before the carrier deadlines.

Reminder #1 – Routine Physician Appointments

Consistent medical care is of utmost importance, but your clients must be especially mindful when scheduling those routine appointments during the underwriting process.

Advisors should recommend that their clients only see their doctors for cause (to treat an ailment, illness, or accident) and hold off on any routine checkups or testing until AFTER underwriting is complete and the policy is placed.

ANY visit to the doctor or test is considered a change in health for underwriting purposes. The underwriter is required to obtain any information about an updated office visit or a test before your client can be cleared and the case placed. A routine doctor visit can negatively affect the outcome of the case by possibly:

  • Downgrading the underwriting rating;
  • Causing a postpone; or
  • Resulting in a decline in your client’s case.

AgencyONE recently had a case with a policy in the field, but not yet placed, when the client visited the doctor for a routine checkup. This required that we retrieve the results which showed an elevated A1C of 6.2. This client is now considered Prediabetic and is in danger of losing the PREFERRED BEST policy protection that was issued before the routine physician visit and testing occurred.

Reminder #2 – Accelerated Underwriting Programs

Accelerated underwriting is NOT just for your term or small cases anymore. Accelerated underwriting requirements continue to change. Carriers are raising face amounts, digitizing the entire process, delivering policies electronically and drastically lowering the time from app to issue. If you have not taken advantage of these programs, NOW is the perfect time to try! Stay up-to-date by referring to the AgencyONE Carrier Accelerated Underwriting Sheet under the New Business & Underwriting tab on your personal Advisor Dashboard. 

Reminder #3 – Client Facing Materials

We cannot emphasize enough the importance of educating your clients on the underwriting process and the necessary steps to ensure their policy is placed as planned. Communication is key throughout underwriting.

AgencyONE has created a variety of client-facing materials for our AgencyONE 100 advisors to share directly with their clients. We have videos and easy-to-understand written one-pagers to help you and your clients better understand the detailed insurance and underwriting process.

These helpful materials are on the AgencyONE website under your “Advisor Dashboard” and the” For Client Use” dropdown. They include Exam Prep, Interview Prep, Senior Supplement, and Inspection Report Prep. We encourage you to use these materials with all your clients, where applicable.

Only 44 days to year-end! (At the time this ONE Idea was published)

Please contact AgencyONE’s Underwriting Department at 301.803.7500

for more information or to discuss a case.

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