| How
long does it take?
Our average underwriting time is currently
32 days. We have issued policies within a couple weeks when people
complete their tasks quickly, and have had applications go as long
as three months because of a lack of cooperation. |
|
The Underwriting Process
You may be under the impression obtaining long term disability
insurance coverage is simply a matter of making a decision based
upon a quote some agent gave you. This is not an easy commodity to
come by, you will only end up with an in-force policy if you are
willing to take an active role in the underwriting process. There is going
to be a lot of back and forth between the insurance company, the
agent, and yourself. How you manage the process will dictate
whether or not you obtain a policy, and how quickly that occurs.
What Happens After I Send in the
Application?
The first thing to occur is a review of the application by an
in-house specialist. If the application appears to be of good
quality the following will occur.
 | You will receive a confirmation
e-mail regarding the app.
| Somebody from EMSI will contact
you to schedule a paramedical examination.
| A representative from GIS will
call you to complete a telephone inspection report.
| You will receive weekly status
e-mails until your policy is issued detailing any outstanding
requirements.
| Once we have received all the
necessary requirements, we will obtain a final offer from
underwriting. |
| We will send you an issued
policy for review and delivery. |
| | | |
Time Delays
The largest time delay comes from obtaining medical records from
the offices of some physicians. Normally we get them within a week
of our request, however sometimes it takes them several weeks to
process our request. We are at the mercy of their office to send
us the records, so if your underwriting time goes beyond 45 days,
it is most likely because we are having difficulty obtaining the
necessary medical records for your long term disability income
insurance policy.
Your Responsibilities
The following is a complete list of what you need to complete to
finish the disability insurance underwriting process.
| Fill out the application
completely, with details.
| Send in last years complete tax
return with schedules.
| Take the phone call from GIS,
and complete the telephone inspection report.
| Take the phone call from EMSI,
and schedule the paramedical exam. We pay for this.
| | | |
The entire time frame is determined
by how fast you complete these tasks. We are working behind the
scenes with your assigned underwriter negotiating the best offer
from the insurance company. Long term disability income insurance
is not an easy product to sign up for, you want to have somebody
with the knowledge and experience we offer as your advocate during
underwriting.
Disability
Income Insurance
|
|
Have
Underwriting or Application Questions?
(888) 513-2300
Disability insurance underwriting is
not an exact science, and every situation is unique. Don't hesitate
to talk to us about any questions you may have on a possible underwriting
scenario, or on how to correctly fill out your application. |
DISCLAIMER |
