Learned Something New About UW Today

[InsuranceMonkey]

Every company I've worked for has had the "Add 1/2 weight lost in past year back" rule. Even the reinsurers I consult have that rule.

It's important to inform your client's that if they've lost weight, don't over estimate the amount lost, or the amount applied back will be over applied. I think client's have a tendency to "brag" a little bit about weight loss, not realizing it can have rate consequences.

 

[Larry Tew]

If a client appears in all respects Preferred Plus or Preferred, that's what I quote, mainly to ward off all the greedy competitors that quote everyone Preferred Plus...and worry about placing the policy later. I always put a disclaimer paragraph in my e-mail quote that it is based on my best analysis of the health history given, but the final decision will be made by the underwriter, after evaluating the mini exam, any medical records and other risk factors.

I hear you, but there are respects that you can't see, such as lab and paramed results as well as family history. My style doesn't even get into quoting a premium anyway. I ALWAYS tell the applicant that there's no way to know exactly what their premium will be until the underwriting is complete. I almost always apply for the largest face I think we'll place as term. When I get the underwriting decision, THEN I fine-tune and tell the underwriter what to issue - WL, Term, a combination, etc.

I also tell them that should anyone just throw out a quote, it's almost always the best possible rate even though the majority of people won't qualify for it. It really is never an issue.

 

[agentjhc]

. I always put a disclaimer paragraph in my e-mail quote that it is based on my best analysis of the health history given, but the final decision will be made by the underwriter, after evaluating the mini exam, any medical records and other risk factors.

I do the same. Have not had any problems with it thus far...

 

[Cory]

I've seen the weight loss rule in every company I've used. Wonder what the percentage is for those gaining back the weight they lost?