The flexible long-term care plan

When used creatively, combo products can ensure your clients’ long-term care needs are covered, whatever might happen down the road. It may not be detectible to everyone quite yet, but there’s a seismic shift happening among consumers and their financial professionals when it comes to preparing for long-term care. If you haven’t looked at asset-based … Continue reading

Educate prospects with pre-existing conditions

Opinion By Anthony Vossenberg for Anthony Vossenberg is the senior vice president of Life & Annuities at Genworth Financial. With recent medical advances and increasingly sophisticated underwriting practices, a number of pre-existing health conditions that may have previously discouraged individuals from considering life insurance are no longer necessarily a barrier to obtaining preferred rates. … Continue reading

“Preferred” Prognostications

We operate two life underwriting study groups for the benefit of the industry. Taken together, they include over 40 chief underwriters plus nearly all reinsurers and major service firms. Based on what was discussed at these open forums, its time to go out on the proverbial limb with some predictions and opinions about preferred underwriting … Continue reading

Trends In Longevity And Carrier Underwriting Standards

Human beings, like all mammals, are bound by biological limitations imposed by nature. For example, every mammal, no matter what size, is issued in nature about 1.5 billion heartbeats. This same rule also applies to metabolism rate. Shrews that live a year will have a heart and metabolism rate 20 times faster than humans. In … Continue reading

Underwriting Requirements And Reality

There have been more changes in life underwriting requirements in the last five years than in the three decades prior. The drivers of this pace of change are these mandates from senior management: (1) control new business acquisition costs, (2) shorten application-to-issue cycle time, and (3) develop a more customer-friendly process. The only risk appraisal … Continue reading