Hosted by Steve Savant, national insurance columnist and financial color commentator.
Special Guest: Eric Palmer, National Director of Advanced Sales for Brokers Alliance
Steve and Eric talk about the life insurance industry's table rating reduction programs known as table shaving and lifestyle credits, the application of mitigating health issues and behaviors that can have a positive on the underwriting balance sheet.
They also review guaranteed and simplified issue carriers who price product based on an overall group and/or an individual with "knock out" questions, items that would not qualify for simplified issue. Also reviewed is simplified issue for professional or white collar vocation.
Steve and Eric turn to the underwriting arena of tobacco use. The traditional categories are preferred smokers and smokers. Smoking cessation is generally measured in durations 1, 2,3 and 5 years. Each carrier has their own applicable health category assigned to those durations. They also address the us e of cigars, pipe, chew and Nicorette gum in the report.
Read Steve Savant's impaired risk article, Scratch Marks on the Sarcophagus posted on Insurance News Net at insurancenewsnet.com, Producer's Web at producersweb.com and Agent Navigator at agentnavigator.com
The Impaired Risk Field Guide includes the some of the topics listed above and highlights the impaired risk carriers by disease in an easy to read format. The guide can be downloaded at ImpairedRiskReport.com.
Halloween Special BRAVO One Hour Event October 31 Monday 1pm Eastern at brokersalliance.com/halloween. The special feature will launch the substandard season in the life insurance industry and highlight the carriers who are recognized as impaired risk leaders by disease.