Why does Life Insurance Underwriting take so long

Life Insurance Underwriting can be one of the longest underwriting processes in the whole insurance realm. The reason for this is due to many factors but primarily is due to the time it takes to obtain the medical records from your Doctor, read below...

clipped from www.lifeinsurance-pros.com Life Insurance Underwriting In the Life Insurance Underwriting Process many applicants get very frustrated over the fact that it can take months to get a decision from the carrier. The reason for this is primarily it can take a while to obtain the medical records from your Doctor or Health Care provider. It has even got worse with the new HIPPA laws protecting insured's privacy, so many Doctors now require their own HIPPA form signed by the insured along with the carriers HIPPA or Authorization form and then sometimes the General Agent's own HIPPA form. Factors that affect life insurance underwriting: Your current health and your lifestyle can affect your premiums health factors such as: cholesterol, blood pressure, build (height and weight), family history of cancer and heart disease, and driving record.

Life Insurance Underwriting Guide

Great article on the factors and issues that will arise when applying for life insurance. These are some of the most important items to watch for and discuss with your agent or broker. Identifying any issues up front can give you a better idea of what rate class you may be placed in and what your premiums may end up being.

clipped from law.freeadvice.com What factors are considered in individual life insurance underwriting? Life insurance companies each have their own extensive policy and procedure manuals they are supposed to follow in determining whether or not to issue an Individual Life insurance policy, and in pricing that policy. The insurer's underwriters typically use a combination of factors that experience shows equates with the risk of death (and premature death).

How is Life Insurance used in Estate Planning

I'm going to be doing a little bit more concentration on the use of Life Insurance in Estate Planning. Really how long can the financial mess last, so I will need to focus on other topics. Estate Planning is at the core existence of Life Insurance. To provide liquidity for beneficiaries of the deceased. Good article below...

clipped from www.fedsmith.com Life Insurance is Essential in Estate Planning Estate planning is how you make sure that your assets – your lifetime accumulations – pass to your heirs in a manner of your design. It's how you make sure your family is secure, and your assets end up where you want them. It's taking care of your family, your business – whatever is important to you. Proper estate planning, whether through a will or some other vehicle, will make sure you, and not the state, decide where and how your assets are distributed after your death. Life insurance can give you options that make your planning an easier process. There are two basic ways in which life insurance can assist in your estate planning: There are more advanced uses of life insurance, many of which are geared toward business owners. Some of those examples follow: Credit Enhancement – Life insurance is often used to stabilize a business concern's financial position and serves as a valuable asset to pledge as collateral.