In todays quick-paced insurance market, home office underwriters rarely receive personal letters with applications. Because they dont, many special risk clients who could have received much-needed life insurance are denied coverage.
It doesnt have t be that way. An explanatory letter, written by the producer on the applicants behalf, provides the underwriter with a clearer picture of the applicants situation. It also provides the applicant with his or her best shot at affordable coverage and injects much-needed personal attention into the insurance underwriting practice.
Such letters are a substitute for talking to the home office on behalf of your clients. It gives you the opportunity to elaborate on specific conditions. You can also include information about the applicants family health history that the app has not asked forinformation volunteered by the client that might help determine whether the person will become insured.
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For these reasons, its a good idea for the agent to write these letters in collaboration with the client. This helps you verify the information and elaborate where needed.
Doing so means you are functioning as a true field underwriter, garnering all the information you can from the client and going above-and-beyond by asking for further details about the persons lifestyle, individual and family history.
Often, during your client interview, youll find much more information–sometimes very valuable datathan has been requested on the app.