LBL Introduces New Underwriting Program
Simplified. Underwriting....two words that aren’t normally used in the same sentence.
06-02-2008
That, however, is exactly what Lincoln Benefit is aiming for with their new Sequel underwriting program. For a limited time, existing Lincoln Benefit Life customers who purchased a life insurance policy between June 1, 2007 and June 1, 2008 can apply for additional coverage on a simplified basis.
Have your customers:
• Experienced a recent life event such as marriage or the birth or adoption of a child?
• Received a promotion or a raise?
Do they need more coverage than they could initially afford? Whatever the case, if your customers’ life insurance needs are greater than the coverage they actually have, LBL can help!
Take a look at the benefits the Sequel underwriting program provides:
• It allows customers to apply for additional coverage on a simplified basis
• Underwriting is limited to a tele-interview, prescription drug check and MIB
• The total of the two policies can be up to $3,000,000
• Customers up to age 65 qualify
What to Submit:
• FAA73 series application - Part 1, Agent’s Report and the Financial Information page (if applicable for amount)
• The cover sheet that comes with the application
• First premium and bank draft or credit card authorization
• Other applicable point-of-sale forms (illustrations, etc.)
What to Expect:
• LBL will check the MIB and a prescription drug database.
• Tele-interview vendor (Exam One) will call the proposed insured to complete the Part 2. This will take approximately 10 to 20 mintues.
If this process does not uncover a significant change in health or insurability since the previous LBL policy was issued, the carrier will issue the new policy in the same rate class as the previous policy. If there has been a significant change, LBL will give you and the customer the choice of stopping the underwriting process or proceeding, subject to full underwriting.
This promotion is available for a limited time only, so don’t waste any time in contacting your customers to discuss their life insurance needs.
For more information, please contact BUA at 800-792-6795.
