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With only a few carrier exceptions, enhancement and streamlining of the underwriting process over the past few years has primarily focused on cases in the $1 to $3 million range, with a maximum age 60 limit and qualifying rate classes of standard or better.  While these applications cover a wide swath of carrier submissions, they typically fall short both for large case applicants who desire an expedited, less invasive underwriting process, and for opportunities that truly move the premium dial for producers. John Hancock stepped up big time recently and developed a solution to this large...

This is a question a number of carriers are being asked today.  Roughly a year ago with the onset of the pandemic a majority of carriers introduced underwriting restrictions to deal with COVID's potential impact on various age groups, and especially those age 65 and older with comorbid health conditions (see COVID-19! What Have You Done to Underwriting?). Since then carriers have learned a lot about COVID and its effect on mortality.  Discussions with several carriers indicate that their mortality impact is mostly in the 75 and up age groups and with insureds whose policies have been...

  Much has been written about the Consolidated Appropriations Act of 2021 and IRC section 7702, (§7702) where, effective January 1, 2021, minimum interest rates associated with the Cash Value Accumulation Test (CVAT) and the Guideline Premium Test (GPT) under the definition of life insurance have been lowered.  These adjustments created welcome changes for:  1) owners of insurance to put more money into cash accumulation plans of coverage without running afoul of definition of life insurance and Modified Endowment Contract (MEC) limits, and  2) carriers to get relief from o...

Here are some of Windsor's best conversation starters, marketing strategies and sales ideas that you can use right now and well into 2021! As advisors to our clients, we can start a conversation with 60-page product illustrations or we can focus on something simpler and closer to home:  Caring for our families by leveraging low interest rates, securing fully guaranteed life insurance benefits, supplementing retirement income, protecting valuable assets, saving money on taxes, and finding easier ways for clients to get the insurance they want and need.  Even in these difficult times, ...

Several underwriting tools have been adopted by carriers to issue coverage faster, in many cases without the need for insurance exams or requirements such as a traditional APS.  Some of these tools are new, while others have been in use previously, but have recently been enhanced to streamline the underwriting process. These tools often impact cases that run through an accelerated or streamlined underwriting process (for purposes of this blog, we will refer to such processes as "expedited underwriting"), and may also impact cases that follow a more traditional underwriting path. Informati...

- A Virtual Panel Discussion Featuring Experts in the Field of Life Reinsurance - DuWayne Kilbo, Moderator I'm extremely delighted to have available three distinguished speakers from the life reinsurance side of our business for Windsor's first Virtual Panel Discussion! With so much going on today as it pertains to COVID-19 and the evolution of the life insurance industry, this is an opportunity to hear from well-known and highly regarded reinsurance industry executives for their input and thoughts on various topics where they provide support and guidance to the industry.  Also, we will h...

​As advisors to your clients, you can start a conversation with 60-page product illustrations, or you can change the conversation to something simpler and closer to home:  Historically low interest rates.  Guaranteed life insurance benefits.  Cash on hand for unexpected circumstances.  Protection for valuable assets.  And easier ways for clients to get the insurance they want and need.  Even in these difficult times, we can do our best to stay calm and communicate clearly.  Here are some ideas from Windsor on how we can begin a conversation about what's impor...

COVID-19, in addition to being a terrible pandemic, has brought a halt to business as usual for most every industry imaginable.  And life underwriting has not been granted an exception.  Among other things, we have seen additional scrutiny placed on certain medical impairments, maximum age and rating limitations imposed, and a reduction in internal retention at some carriers. However, we are also seeing changes—positive changes—occur in underwriting.  Underwriting progress has been made using data sources to forgo exams and to get coverage approved quickly and non-invasively—whi...

Windsor, Life Happens and AIG Get Together for a Webinar You Don't Want to Miss!  On Demand Now!In today's social-distancing reality, staying connected and maintaining your trusted relationship with clients and centers of influence is more important than ever. But where can you find relevant content that is easy to use?  Windsor invites you to learn about the resources, marketing tools and competitive advantages offered by Life Happens and AIG that are literally at your fingertips, along with social media best practices that you can implement today!  

  Driven by new CSO tables and Principle Based Reserving (PBR), year-end 2019 ushered in a host of life insurance product changes. These changes impacted both a substantial number and a broad diversity of life insurance products and pricing — especially death benefit-oriented "permanent" plans of coverage, a market where many of us spend considerable time promoting and selling.  To assess what happened, we completed a survey of this market based upon the carriers Windsor represents.  While many of our observations were similar for single and joint life products, there were notab...