Our WriteFit Underwriting program uses tools and techniques that predict relative mortality based on a number of behaviors. With WriteFit1, there is no need for medical exams or blood tests — offering faster underwriting decisions and an overall improved client experience when compared to traditional underwriting.
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Q: What if my client doesn’t qualify for WriteFit?
A: Their application will continue through the traditional underwriting path and an exam, labs, etc. will be completed.
Q: Which clients should I send through WriteFit?
A: WriteFit is ideal for healthy clients. To be considered for WriteFit, the following eligibility requirements must be met:
- Apply for a single life product through eApp/iPipeline®
- Face amounts up to $3,000,000 for ages 18-50 (excluding WriteFit Express4)
- Face amounts up to $1,000,000 for ages 51-60 (excluding WriteFit Express4)
- complete underwriting questionnaire or use the tele-interview process5
- Clients 18-60 years of age
- Build within recommended guidelines
- No major medical impairments
Q: How do I prepare my client for the WriteFit Underwriting process?
A: If your clients completed the underwriting questionnaire in the application (part 2), then their application and answers will be reviewed by an underwriter to determine if an exam and labs are needed.
If they chose to complete a tele-interview, they will complete that next. Once the tele-interview is complete an underwriter will review the application and answers from the tele-interview to determine if an exam or labs are needed.
- If exam/labs aren’t needed, you’ll save some time and be notified of the application approval with an underwriting class of standard or better.
- If labs are needed, that means we need some additional information in order to make our final decision. Tell your client that if this is the case, their application will follow the traditional path – they’ll complete the exam and then receive an underwriting decision.
As always, be conservative when running illustrations. If you’re unsure how to rate your clients, go with a lower underwriting class. Remember, a client that qualifies for WriteFit will always get a risk class of standard or better.
Q: Why should I try the WriteFit Underwriting Program?
A: WriteFit Underwriting aims to make your client’s life insurance buying experience fast, smooth and less invasive than traditional underwriting. Unlike the simplified issue approach, our WriteFit Underwriting program utilizes new tools and techniques that predict relative mortality based on a number of behaviors.
Q: Do I need to sell WriteFit Underwriting differently?
A: WriteFit Underwriting doesn’t change your role as a financial professional, but it can make the application process for you and the client more efficient. This customer experience program is designed to support your sale by minimizing the need for invasive blood draws, urine collection and exam scheduling.
With this customer experience program, financial professionals may not be able to rely primarily on their ability to predict their client’s underwriting class as they can with traditional underwriting. The information used in the WriteFit Underwriting program to assess an accelerated case consists of hundreds of potential data points and the way they interact with each other, that aren’t available until the moment we underwrite the policy. There aren’t necessarily “knock-out” questions of financial data that can be used to predict an outcome.
1. Our WriteFit Underwriting program includes WriteFit and WriteFit Express. This information refers only to WriteFit, except where noted.
2. May not be available for some clients; feature may not be available for all products and may vary by state.
3. Upon completion of tele interview for eligible clients.
4. If declined, a 90-day waiting period will be enforced before a new application can be submitted.
5. Appropriate consent is obtained prior to data collection and usage
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods.
Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender, and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan or withdrawal.
Product features and availability may vary by state.
These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its subsidiaries, have a financial interest in the sale of their products.
For financial professional use only. Not for use with the public. This material may not be reproduced in any way where it would be accessible to the general public.