We understand that one size doesn’t fit all when it comes to underwriting. That’s why we created the Protective Life Underwriting Solution (PLUS), a tool designed to underwrite applicants with the least invasive requirements possible. Available with Protective® Classic Choice Term and Protective Custom ChoiceSM UL, PLUS provides clients with the opportunity to qualify for accelerated underwriting.
Most think that a client needs to be in “perfect” health to qualify for accelerated underwriting. Our PLUS program is different. When you’re preparing your clients for the life insurance application process using our eligibility checklist, remind them that they still have the opportunity to qualify for accelerated underwriting — even with a less-than-perfect medical history.
Take a look at these recent examples of clients with less-than-perfect medical histories who were approved for accelerated underwriting through PLUS:
- Meet Sally, a 34-year-old woman who works as an office assistant.
She applied for a 20-year term policy with a face amount of $600,000. During her TeleLife® interview, she shared history of an abnormal Pap smear. She also informed the TeleLife representative that she was examined further with a colposcopy, and her re-testing results came back negative. She was issued a term policy with a select-preferred rate class.
- Meet Pierre, a 39-year-old man who works as a manager.
He applied for a 20-year term policy with a $1 million face amount. During his interview, he admitted that he’s had a history of asthma, with his last allergic reaction to a dog occurring a year prior to the life insurance application process. After his reaction, he took Ventolin two days per week and was given Nasonex for allergies. He was issued his policy with a select-preferred rate class.
- Meet Michael, a 43-year-old salesman.
Michael worked with his financial professional to apply for a 20-year term policy with a death benefit amount of $300,000. During his medical interview, he admitted a history of depression — last treated in 2009. Now, he’s off medication and his depression has been declared resolved by a medical professional. In addition, he planned to travel internationally to Spain before the end of the year. Even so, Michael was still issued his policy with a select-preferred rate class.
- Meet Rodrick, a 39-year old man with a passion for scuba diving.
Rodrick works as a surveyor, and enjoys recreational scuba diving at a depth of 100 feet. When applying for his 20-year term policy with a face amount of $300,000, he reported that he dives with safety in mind — having his diving certification, never diving alone, and never diving in caves or at night. He also shared that he was planning a dive trip to the Cayman Islands. In addition, he received a CT scan and an MRI for spinal disc degeneration in 2018. Rodrick was issued his term policy with a standard non-tobacco rate class.
Furthermore, our streamlined PLUS process doesn’t only benefit clients, like Sally, Pierre, Michael and Rodrick.
For you, PLUS helps win back time — time that can be spent with clients and building business. On average, PLUS cases with accelerated underwriting are approved within two weeks of ticket submission; that’s more than two times faster than traditional underwriting! Read the top five benefits of PLUS for BGAs and agents.
To learn more about PLUS, contact your Protective Life representative or visit SellWhatMatters.com.
Let’s deliver on our promises. Together.