Accelerated Underwriting Program
Get your life insurance business on the fast track with accelerated underwriting. This program allows eligible clients to obtain life insurance coverage without being fully underwritten. This includes not having to complete an exam or paramed. The goal of the program is to reduce the amount of time in underwriting and ultimately get you paid faster.
Product Availability: Allianz LifePro+
Issue Ages: 25-60
Death Benefit 1,000,000 or less in coverage
Risk Classes: Preferred Nontobacco & Preferred Plus Nontobacco
Your client can still qualify for Preferred Nontobacco (NT) and Preferred Plus NT based on full underwriting, even if they don't meet the requirements for accelerated underwriting.
Step 1: Submit via ApplyNOW or Life Insurance Worksheet (accelerated underwriting is not available with long-form application)
Step 2: Call to schedule and complete the Personal History Interview (PHI)
Step 3: Schedule your client's exams. If you plan to schedule exams, please delay at least 10 business days or wait until after the PHI is complete.
Step 4: Underwriting orders and reviews the PHI, MIB, Motor Vehicle Report (MVR), prescription database check (RX), and underwriting consumer report.
Step 5: Accelerated underwriting provides an approval or moves to full underwriting.
It is also important to note that on average only 30% of clients that meet the initial prescreening (Step 1 and 2) actually qualify for the program.
How to Make This the Best Experience for You Client
Submit complete and accurate forms that are in good order, take advantage of using ApplyNow.
Encourage your client to schedule and complete their PHI as quickly as possible.
Schedule your client's exams. If you plan to schedule exams, please delay at least 10 business days or wait until after the PHI is complete.
Any exams received before the accelerated underwriting decision has been made will move your client to full underwriting.
If you schedule your client's exams, please delay by at least 10 business days and cancel any exams that are not needed if an accelerated underwriting offer has been made.
Educate your clients that they may still need to go through full underwriting.
Prepare your clients ahead of the phone interview having them complete The Personal Information Interview form.
Average Traditional Full Underwriting Time: 12-30 business days
Accelerated Underwriting: 3-12 business days
Get started today! Talk to your FSR at (888)543-3776.