Part of being an adult is recognizing that you have a sense of responsibility toward others — especially your loved ones. If you were to pass away expectantly, you’d still want them to be cared for in your absence. That’s why you’ve thought ahead and decided to get life insurance. However, before you can check the “I’m insured” box, there’s a step in the process. And that’s underwriting — a process that many people applying for insurance don’t understand. That is, until now. Read on to learn about the basics of underwriting and how it can affect you. More>>
Guest contributor: Adrienne Wilson, FALU, ACS, FLMI, CLU, ChFC, is an underwriting consultant at Crump Life Insurance Services.
Our society’s ever-increasing emphasis on healthy living and longevity has rapidly sparked an interest in direct-to-consumer genetic testing kits such as 23andMe and Ancestry. Also, recent scientific breakthroughs have encouraged the use of genetic testing in the medical field, especially in the treatment of patients who may have an increased genetic predisposition to certain diseases.
While knowledge is power, and these new technologies may ultimately assist physicians in minimizing their patients’ future risk of developing certain ailments, there are also drawbacks to genetic testing that may not be readily apparent. More>>
Guest contributor: Chris Cook, serves as senior vice president and head of underwriting at Crump Life Insurance Services.
Today’s life insurance industry has products available that are inclusive of the needs of all consumers, including the 1.4 million adults in the U.S. who identify as transgender. Whether the need is for mortgage protection, estate planning, financial security for a spouse or children, or living benefits such as retirement income or long-term care, there are products designed to fit the specific need. Most important, with innovations such as accelerated underwriting programs, the process of obtaining coverage has never been easier. More>>
Underwriting, premiums, contestability period—terms like these can make insurance words seem like a foreign language.
Fortunately, a good insurance professional can help you make sense of it all. So can the definitions below. We explained them in recognition of Financial Literacy Month. Read on to understand some commonly misunderstood insurance words. More>>
Many people falsely believe that life insurance for diabetics doesn’t exist. In reality, there are quite a few life insurance options for the 34.2 million Americans who have diabetes.
While diabetes remains a health challenge for many, it is still very possible to secure good life insurance as a diabetic. Here are some key things to know about getting life insurance if you have diabetes. More>>
It is with great pleasure we announce that the pandemic-induced travel and residence restrictions in place with most of our carriers have officially been lifted! Many of our carriers are now able to consider clients who have planned travel abroad or primary residency in approved countries, and in most circumstances, the carrier foreign national programs are back to normal as long as clients can travel to the U.S. for solicitation. More >>
To purchase a life insurance policy, most people have to undergo extensive medical evaluations and health history checks. It’s a lot less risky for the insurance company to insure a healthy person than a sick one. However, you can get life insurance even with a history of health issues. Some policies, like guaranteed life insurance, cater specifically to individuals who have struggled to get traditional life insurance based on their risk factors. More>>
Guest contributor: Adrienne Wilson, FALU, ACS, FLMI, CLU, ChFC, is an underwriting consultant at Crump Life Insurance Services
The COVID-19 pandemic is widespread, affecting millions of people around the world as well as numerous businesses, including those in the life insurance industry.
While the full effects of the virus are still unknown and life insurance carriers are updating their underwriting guidelines on a regular basis, there are a few things to keep in mind — in terms of limitations and opportunities — when considering submitting a life insurance application during this unprecedented time. More>>
Guest contributor: Greta Albright, AALU, ALMI, is senior underwriting consultant at Crump Life Insurance Services
As financial professionals continue to navigate underwriting changes in today’s pandemic environment and anxiously await the possibility of releasing some of the temporary restrictions placed on life insurance underwriting, life insurance underwriters are continually asked, “How can foreign nationals and foreign residents obtain life insurance?” More>>