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The Affluent Insurance Advisor

The Underwriting Process

Once you've determined that adding new life insurance coverage to your financial assets makes sense, it is not as easy as just writing a check to obtain coverage.

Affluent advisors seeking to assist the families they serve need to provide both medical and financial justification that their client is indeed eligible for the coverage they wish to purchase.

Typically the process is as follows:

  • A single primary insurer is chosen in which to apply to for the insurance policy. Often times an authorization is signed by the eventual policy owner allowing us to use the information from that application with other carriers that will be considered in the selection process.
  • Our underwriters coordinate a pre-set time for the insured to be visited by a medical technician who will:
    • draw blood and urine samples
    • ask questions about the insured's medical history
    • gather the names and contact information of all doctors visited over a specified time frame.
  • We then obtain any necessary financial documentation from the appropriate financial advisors. This could be as simple as a balance sheet or statement of fact from an accountant or other relevant financial advisor.
  • All of this information is bundled with a cover letter and sent to the relevant insurance carriers in which we seek to obtain an offer.
  • During this time (which typically ranges 4-8 weeks) our underwriters work with you to keep you abreast of the status of your application and, where needed, share with you things you can to to help expedite the process.
  • When this process has been completed we will have secured our offers and are now in a position to counsel the advisors to engineer the right solution for a family's particular situation.