Life Insurance Field Underwriting Guide

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Provada Insurance Services Inc. Phone: (415) 369-9990 Fax: (415) 369-9991 www.provada.com Field Underwriting Guide NAILBA COPYRIGHT STATEMENT IMPORTANT: PLEASE READ BEFORE USE! The NAILBA Field Underwriting Guide (the “Guide”) is copyrighted by the National Association of Independent Life Brokerage Agencies (“NAILBA”). Only NAILBA, its member agencies, and current exhibitors (2006) are permitted to use and distribute this Guide. The NAILBA membership and current exhibitors are permitted to add
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  Provada Insurance Services Inc. Phone: (415) 369-9990Fax: (415) 369-9991 www.provada.com    Field Underwriting Guide NAILBA COPYRIGHT STATEMENTIMPORTANT: PLEASE READ BEFORE USE! The NAILBA Field Underwriting Guide (the “Guide”) is copyrighted by the NationalAssociation of Independent Life Brokerage Agencies (“NAILBA”). Only NAILBA, itsmember agencies, and current exhibitors (2006) are permitted to use and distribute thisGuide. The NAILBA membership and current exhibitors are permitted to add their logoalongside NAILBA’s logo, on the cover page of this Guide. Other than this specificmodification, no person or entity is permitted to alter, adapt, abridge, or modify thisGuide. The Guide must be used in its entirety. Specifically, no person or entity mayremove, replace, or substitute any forms included in this Guide.   Disclaimer of Liability: With respect to documents and content containedin this Guide, neither NAILBA, nor its employees or members, makes any warranty,express or implied, or assumes any legal liability or responsibility for the accuracy,completeness, or usefulness of any information, product, or process disclosed,or represents that its use would not infringe privately owned rights.  TT TT TT Contact Information: NAILBA, 12150 Monument Drive, Suite 125 Fairfax, VA 22033. Phone:(703) 383-3081Web site: www.nailba.org  Copyright July 2006. The National Association of Independent Life Brokerage Agencies (NAILBA). All rights reserved.      How to Use This Guide This NAILBA Field Underwriting Guide had been produced specifically with you, the producer, inmind. We believe it is a highly unique educational and practical resource that can save you time andearn you more money. The best practices included here can truly improve your chances of having your  business placed quickly and easily! ã   Highlight key points of your app for faster underwriting (Page 4)   ã   Quickly check applications to make sure they are fully complete (Page 8)   ã   Set and manage expectations with your client (Page 11)   ã   Ensure you gather the right information for every case (Page 15–16)   ã   Understand risk factors and how to optimize the medical assessment process (Page 18)  Created by a group of experienced industry professionals representing each of the entities involved inthe insurance application process, this Guide has been created to be a practical, hands-on resource for you to put to use as you work through an application. It is also intended to be a long-term reference tool,giving you a full perspective on the important steps to acknowledge and the distinct roles of the carrier,the Brokerage General Agency, and you, the producer, in the application process.Whether you are new to the business or a seasoned veteran to writing apps, we believe this FieldUnderwriting Guide can be a great “sidekick” as you seek to improve your production levels. It can becalled upon for the consistency and the competitive edge you need to increase your percentage of successfully written business. We think that following these guidelines will increase the placement of your business by 10 to 20 percent, resulting in thousands of additional sales dollars. So don’t just tuck this away on the shelf!Take a few minutes to review this guide. Start using the interactive toolsto improve the way you sell and write your business today!  – 2 –   Copyright July 2006. The National Association of Independent Life Brokerage Agencies (NAILBA). All rights reserved.   ©      Table of Contents Page Welcome Letter 4Life Insurance Cover Letter Sample 6The Value of Your Business: Placement Ratios 7Forms Checklist Tool 8Formula and Guidelines for Financial Underwriting 9–10Setting Expectations 11–13Chart of Roles and Responsibilities 14Quick Fact-Finder Tool 15–16Generic Underwriting Criteria Reference Tool 17Common Medical and Non-Medical Impairments Summary 18–37 Supplemental Forms Section 38  1. Health Impairment Forms2. Lab Release Forms3. HIPAA Form Acknowledgments 121    – 3 –   Copyright Aug 2006. The National Association of Independent Life Brokerage Agencies (NAILBA). All rights reserved.   ©  
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