I am a captive NYL agent and also use a lot of Ohio National policies as well. These carriers are HARD to get good underwriting results! You dang near have to be perfect. Has anyone else experienced this?
Which carriers should I look to for good underwriting? I heard ING Reliastar was not bad.
Or maybe you just need healthier people. A lot of people need to come to grips with the fact that they are not as healthy as they want to think. Additionally, what kind of life insurance are we talking about?
ON does tend to favor younger healthier people in their underwriting.
ING has attractive underwriting guidelines.
Guardian has been a pretty aggressive underwriter in my experience, especially for the teetering on rated situations, they tend to be standard non smoker.
Massmutual has a very different approach from most, it's a point system, but some of the points are only attainable at certain ages (older).
I would say additionally look at what underwriting requirements the carrier has. ON for example tends to want more done at lower faces amounts than most (e.g. paramed when a lot will take a non-med and ekg way earlier age wise and at lower face amounts than others).
What kind of issues are you running into?
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I've been using ON for several years. I have found them reasonable. I just finished a case with an avid rock climber. Several companies were applied to, and they ALL came back with a $5/k flat extra, except ON. They offered $2.50/k. BUT... one of the $5 companies offered waiver of premium, and ON would not budge on offering waiver. On larger cases, reinsurance offers will have more to do with the rate than the primary company.
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230 cholesterol, elevated liver enzymes, weight issues, etc.
What was the underwriting decision?
ON's retention is 1 million so they are going to reinsurance of some fashion beyond that amount. They are a small company, but a quality company. A million bucks is kind of a big deal to them, much more so than say New York Life. They do have to be careful about who they decide to ensure at that amount.
Additionally ON has an APS order request you can fax to underwriting before they even get the case. That can significantly speed up the process.
>>""230 cholesterol, elevated liver enzymes, weight issues, etc.
In addition, ON requires APS on anything over $1 million even if the client is 28.""
"230 cholesterol, elevated liver enzymes, weight issues, etc." and over $1 million. And you think APS is out of line? If you are looking for $250,000 and below, there are several SI policies out there, However, your client will pay the price.
Kinda depends on what your priorities are. Or who's.
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ING Reliastar's underwriting is decent; I have had good luck with them with clients with heart conditions. I have had some pretty good experiences with Trans Family and American General as well.
>>""230 cholesterol, elevated liver enzymes, weight issues, etc.
In addition, ON requires APS on anything over $1 million even if the client is 28.""
"230 cholesterol, elevated liver enzymes, weight issues, etc." and over $1 million. And you think APS is out of line? If you are looking for $250,000 and below, there are several SI policies out there, However, your client will pay the price.
Kinda depends on what your priorities are. Or who's.
No no, those health issues are individually separated for each client. I don't have a client with all of those above listed issues.
For a 28 year old, who is completely healthy, an APS is still ordered for anything over a $1 million face
I don't know of any companies that won't order an APS for $1 million+ face amounts...that's a lot of money for any company to risk on not paying $25-100 for an APS.
sorry guys, this post is meaningless.....someone PM'd me and i have to get my 20 in before i can reply
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Just in case you missed my last post.....please see above
Last edited by oskie : 08-18-2010 at 08:30 AM.
Reason: Posts merged
sorry guys, this post is meaningless.....someone PM'd me and i have to get my 20 in before i can reply
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Just in case you missed my last post.....please see above
You need 20 posts before you can reply to a PM? WTF?
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Horrible Underwriting Carriers
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