When an underwriting department reviews a case file, a holistic assessment is conducted which includes not only medical and lifestyle factors, but financial information as well. Consequently, a cover letter may be beneficial to help underwriters understand both the insured’s medical history and any relevant financial information. A strong cover letter should include a written description of the financial information, an explanation of the need for coverage, as well as any financial documentation which supports this need.
There are no steadfast rules regarding the content of a cover letter. However, the structure outlined below will help to craft a strong letter that will assist underwriting in better understanding and reviewing a case.