Underwriting Expertise for the Big Case Market

As the leader of the big case underwriting for Dixon Wells, I have a lot of experience in dealing with very large and difficult life insurance cases.  One of the big issues with large cases is the advisor may spend hours working with the client, attorney, and CPA on defining the need for life insurance protection but only spend a few minutes obtaining the client’s detailed medical information.  To work in the Big Case market, it is critical the advisor and the proposed insured develop a transparent relationship.

While obtaining the full financial picture of your client’s entire estate can be an awkward situation, discussing someone’s private medical information and the details of their medical history can make the insurance conversation even more uncomfortable.  Unfortunately, in the big case market, it is not too uncommon that clients will be reluctant in providing financial or health issues because many do not think those issues will be discoverable.  Because life insurance underwriters review the client’s medical records, perform MIB searches, and utilize script checks, the underwriters with the various insurance companies have the tools to discover some deep and dark history from the past.

Working with an underwriter on the front end is more favorable than trying to explain a condition, treatment, or diagnosis on the back end. For example, we were working on large 30 million death benefit request for a CEO of a large manufacturing company.  The client indicated he exercised frequently but had elevated blood pressure that was treated with medication — he had no other medical history.  The preferred risk class turned to a rated case when it was discovered the proposed insured had a lengthy history of depression that was not disclosed to the advisor, reported on the application, or included in the paramedical exam.  A very predictable large case became an underwriting challenge. We lost the position to properly prepare the underwriter for the depression history and instead had to focus on re-positioning the severity of the condition with some communication from his attending physician.

When an underwriter discovers adverse material information that is not disclosed, the opportunity for favorable underwriting is eliminated because the perception is the client is hiding important information.  We have more success with questionable medical issues if we prepare the underwriter for the condition prior to application submission.  Dixon Wells has the tools, resources, and expertise for big life insurance case.  Experience the big case difference and find out why more advisors are working with the team at Dixon Wells

David Kopelcheck