Steve and Jessica discuss the first quarter Term Life Insurance Report available at brokersalliance.com/march madness and underwriting aspects (Issue Age 90 and The Cholesterol Grids) from the Impaired Risk Field Guide available at brokersalliance.com/ImpairedRiskGuide. You can contact Steve at email@example.com
There are five non rated health categories of nonsmokers offered by most carriers using the CHEM 24 exam and EKG results augmented by the attending physician statements: Super Preferred, Preferred Plus, Preferred, Standard Plus and Standard.
Three important areas of health can determine an underwriting offer: BMI- the Body Mass Index,
Blood Pressure and Managed Health conditions
Term Life Insurance Spreadsheets – the term life insurance market is dominated by 30 carriers. The annual premium grids used to access the best premium price can be skewed by conservative underwriting; no conversion to permanent products or the permanent products are not competitive. The term life insurance premium priced market is extremely competitive, but the underwriting may not be.
It’s important to understand the spreadsheets list several carriers who appear to dominate the grids, but consistently offer underwriting decisions that appear to be one to two health categories below the premium quoted from the spreadsheet. So the spreadsheet becomes a form of advertising and not a reliable quote. Some vendors have taken the position of deleting these carriers from the term grids in an effort to offer an accurate quote.
Term life insurance conversions to permanent life insurance products are a small portion of the market. Nevertheless it’s important to be aware that not all carriers have conversion provisions or their permanent life insurance product inventory is not competitive.
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