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Underwriting Cheat Sheet


GA Medicare Expert
5000 Post Club
Underwriting is almost second nature to me. Most of the time I can review an application and tell what the final outcome will be (assuming no surprises of course) with a great deal of accuracy.

Consumers think they know everything. They believe they are healthy. The woman who is 5' 5" and 195# can "stand to lose a few pounds". The man with HTN controlled by meds no longer has HTN. And of course everyone has GERD and it on anti-depressants and sleep meds.

I decided to put together a chart for consumers. The intent is to make them aware of what can happen once their app hits underwriting without giving away all the secrets.

What do you think?
I like it. I've often wondered if we're allowed to share published underwriting guidelines with clients. I don't see why not - it's not a secret and I'm sure all companies would like higher placement.
It would be important to state it's just a guide to clients. Allergies: one, two three meds? Seasonal or year round? Allergic to just pollen/dust or do you have food allergies? Inhaler, oral or shots?
This is not intended to be a comprehensive guide . . . to anyone. You will note general info says rate up for meds is about 20% per med.
We use this internally, we tried putting one on the web and it failed - no one read it, and it was VERY complicated.

Height / Weight, smoking, total meds all come into play the matrix was very hard to understand and varied a lot from company to company.

Not to mention what is said on phone interviews or pulling APS what they dig up.

It is a great idea, but there are so many combination of items, the matrix becomes nuclear physics to display accurately. Also I am not sure what the insurance companies would say if they saw something like that floating around - lol... you know how hyper sensitive they are.

Lets not also forget the u/w guides are just that - a guide. I have had Migraines WAIVERED, RATED UP , PREFERRED AND DECLINED. No rhyme or reason in most cases I just scratch my head.

We have a hard enough time following our own internal matrix.

Great idea, great concept - I still think a 3 minute phone call / email is easier since the matrix is way over the average consumers head.
Nice job, that would have been extremely helpful during the time I was selling LTCi. Underwriting was such a hassle that I finally said to hell with it.

I really like the senior market. I don't have to worry about any of that. I call them, make the appointment, make the sale and the policy is issued.