Field Underwriting Gets More Cases Placed!
What is Field Underwriting?
Field Underwriting is the initial gathering of medical and lifestyle information prior to requesting an application.
Collecting the proper information about your client is an important step in the life insurance application process because it allows you to submit accurate and detailed answers to all questions on the application. This information also allows the DBS Underwriting Team to better assess your client’s medical history and to help determine what underwriting classification your client may qualify for. This saves time for you and your client, and will help the application process go as smoothly as possible!
Why is it so Important?
Failure to properly record complete and accurate information could result in either unnecessary delays or big surprises at the time of submission. Providing the most detailed information possible can help your underwriter complete an accurate snapshot of your client’s health, lifestyle, and overall insurability, and therefore select an accurate rate class. Once submitted to the carrier, there can be less ability to negotiate or have other options available.
Proper Quoting
Sets appropriate expectations
With fewer surprises, you and your client will know what to expect.
Saves time for you and your client
An improper quote can cause the application to move to another rate class or go other than applied for.
Helps you close more cases
Discovering a health issue or other surprise late in the process can interfere with the application.
Speeds up the underwriting process
The more information the DBS Underwriting Team has, the quicker the process will be!
Builds relationships
Shows you care about your client and also builds your credibility and reputation.
How do I go about it?
1. Check out our website where you’ll find the DBS
Underwriting Questionnaires Library.
2. Complete the DBS General Health Underwriting
Questionnaire for every client application.
3. At a minimum, collect:
• Family history
• Medications
• Surgeries or hospitalizations
• Past or current significant health problems
• Any nicotine use ever – if so, what and when
• Avocations such as rock climbing, scuba diving, racing, pilot, etc.
• Motor Vehicle Records
The DBS Underwriting Team analyzes the information and can help with the pre-sale classification along with carrier selection. We understand every carrier’s requirements, niches and product nuances, and the relationships we’ve developed over time enable us to negotiate for the best options for your client!
If you are unsure, ask your DBS Case Design Analyst or contact the DBS Underwriting Team.
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