Successful underwriting doesn’t happen by accident! Here’s how another agent was able to place a $10,000 premium case utilizing our underwriting expertise.
An agent had quoted a joint second-to-die policy with a single premium in excess of $100,000 and a face amount in excess of $500,000. This was based on standard rates on the husband and preferred rates on the wife. Unfortunately, the carrier came back with an offer of table 2 on him and table 4 on her, resulting in a death benefit of only about $250,000. The table 4 determination on the wife was due to information found on the EKG. The clients were not happy and were not going to accept the offer.
Our in-house underwriter Bob Pedigo looked over all the medical records. He saw that the wife had no history of health problems. He felt that the underwriters had made a mistake in interpreting the EKG and asked the carrier’s medical director to take a second look.
The medical director agreed that two of the EKG leads had been misplaced – they had been switched by the paramed examiner. The carrier made a new offer with the wife as preferred and, based on their table shave program, the husband as standard, just as the agent had originally quoted. The agent made the sale and earned a commission of over $10,000.
Bob says that underwriters and paramed examiners are human, so mistakes can be made. That’s why it is so important that at Simplicity Des Moines (formerly Davis Life & Annuity), we have our own underwriters working for our agents to ensure that you are getting the best underwriting decisions possible.
Bob Pedigo, CLU, FLMI, is our Vice President of Underwriting. He brings over 30 years of expertise to the table to help you and your clients. Bob works closely with all of our companies and their underwriters. He can fully underwrite the case before we ever send it to a company so we know exactly what to expect.