The substandard is the season; benevolent underwriting is the reason. For almost 30 years, I’ve visited a variety of carrier home offices and made the descent down into their basement where thousands of NTO client files are stored, boxes stacked upon boxes like a mausoleum. For many producers, underwriters are more like undertakers with a hearse, driving your impaired risk case right into the same old actuarial rut of declinations, postponements and high table ratings. And they do this as if death claims were off the charts or life insurance sales were through the roof.
In this animated introduction into underwriting, the Halloween crew of the BIZ walks you through the paramed exams, the Medical Information Bureau and simplified issue underwriting. It’s scary, but necessary.
Steve Savant, host of the Business Insurance Zone, reprises his role as the Phantom of Unplaced Premium with special guests Jessica Lopez as Little Red Riding Hood and Eric Palmer as The Count.
Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Steve is the number one online author and videographer of insurance content. During his 30-year career in the financial services industry,... More
Steve Savant recently shared that Just a reminder: Advanced Life Deferred Annuities (up to a certain limit) may be excluded from Required Minimum Distributions calculations. This is a huge opportunity in RMD management in retirement.