This week, I want to pull your attention from the annuity product solution and talk about underwriting.

At OneAmerica Financial, all of the asset-based LTC solutions are underwritten.  And, the level of underwriting is dictated by the product, plan design, funding strategy, and client dynamics such as age and health.

Here is an important reminder … it is best to prescreen your clients especially when they have either been rated or declined by another carrier.  Or, if they have medical conditions that might be of concern. Or, if there are a combination of maladies.  In any case, you have the tools at your disposal to maximize your effectiveness and to develop the best solution for your client.

I am encouraging you to utilize the Pre Underwriting Inquiry process.

Here is how it benefits you and your client.

• You will be able to set the expectation with your client.
• You will have the ability to craft the product solution to align with the underwriting potential of the product. 
• Your overall experience at application will be improved as you already know where some of the issues exist.

Here is what you need to do when you are meeting with your client.  Rather than purely talk about the importance of leveraging their money by purchasing an insurance solution, set the expectation that their health will be an important element of the solution and the best way to determine the best solution is to review their health history. 

Then, depending upon the product (Asset Care or Annuity Care), share with them the ineligible medical condition sheet and ask “would you have any of the maladies or take any of the medications on this list?”  When they reply “no”, then inquire about their health background.  “Have you had cancer, a heart condition, or any major medical events in the past?”  Followed by, “are you taking any prescription medications and what might they be for?” 

With the information that you gather, complete the Pre Underwriting Inquiry submission form (please complete it as fully as possible) and submit that document via email to Care Solutions Underwriting at the email address noted on the top of the PUI document.

Within 24 hours of submission, you will have an underwriter offer their assessment of the client’s likelihood of securing coverage based upon the information provided to them.

Here are the documents that I have referred to:

Pre Underwriting Inquiry

Asset Care Ineligible Conditions

Annuity Care Ineligible Conditions

Of course, if you do have any questions please contact Kelley Hilliard my internal at (844) 623-2451 or at kelleyhilliard.isp@oneamerica.com