Obtaining the Best Possible Pricing for Insurance
A PROACTIVE APPROACH TO OBTAINING FAVORABLE UNDERWRITING OFFERS AND POLICY PRICING:
While life insurance, with its many tax advantages, has grown in popularity as a planning vehicle, many physicians don’t realize that the single greatest impact on policy pricing is professional management of the medical underwriting process. Hippocratic Financial Advisors’ Underwriting Advocacy Process™ is designed to increase the potential for obtaining favorable underwriting offers and pricing.
We accomplish this through a proprietary informal underwriting process where we complete 90% of the underwriting BEFORE an application is submitted to an insurance company. This preliminary process enables us to pre-qualify underwriting offers from insurance companies, while protecting your PHI (Personal Health Information) from the MIB (Medical Information Bureau) so that your insurability remains unchanged.
As a result, we are able to deliver the best possible underwriting offers to our clients. Once received, the top offers from various companies are analyzed by our team. We match the best underwriting results to the appropriate product and optimized solution. We then discuss all of this information with you so that you can make an informed decision.
Key to the success of this proactive approach is expert implementation by a world-class underwriting team. Our consulting team includes a licensed physician, and over 60 years of insurance industry experience. Together, they confidentially represent, clarify and coordinate the details of your application with multiple insurance companies throughout the underwriting process.
The Pre-Qualification Underwriting Questionnaire™
Before submitting an application, we use the pre-qualification underwriting questionnaire to collect all of the information that a carrier would need to render an underwriting decision. We then clarify any gaps in the information with your physicians to ensure that we have a complete picture of your health. Upon submitting the application, we add additional commentary to help the insurance company underwriters understand why you are seeking coverage and/or what actions you are taking to address health issues.
Private Underwriting Rating Evaluation
Most surprises in underwriting arise from the medical exam and lab work in connection with a life insurance application. When an application involves a large death benefit or a complex medical issue, we use a confidential private underwriting rating evaluation. This allows our Underwriting Advocacy team to review your exam and laboratory results prior to them being submitted to a carrier. These results, combined with a HIPAA-compliant confidential review of your medical records, allows us to assess your life insurance risk, address any abnormalities that may be present in the exam or lab results, and determine which companies will have the most favorable evaluation of the application.