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Just submittedlife insuranceCustomers who apply usually receive direct calls from insurance companies and related institutions to ask various questions and conduct a telephone interview. insurGuru©️Life Insurance AcademyThis column will help policyholders understand why they receive a call from the insurance company when applying for an insurance policy.What questions are usually asked on these calls and how should I prepare.
Why is there a telephone interview underwriting?
Underwriting is an applicationlife insuranceAn important part of the insurance policy.In this link, the life insurance company decides whether to underwrite the insurance through a comprehensive assessment of driving records, prescription drug records, medical records, credit records, and the health status of the insured’s family.
Tele-Underwriting (Tele-Underwriting) is a major way for insurance companies to carry out underwriting.
Underwriting by phone means higher efficiency, simplified process and lower cost.As the market develops,Term life insurance And the sum assured less than US$1,000,000Whole life insurance The underwriting process has gradually changed from a long, cumbersome and expensive way to online quotation and telephone underwriting.
At the same time, some policy applicants are also more willing to describe their true physical condition to the medical professionals underwriting over the phone, rather than to their insurance brokers.
Phone underwriting process
As for the denomination of the policy, the underwriting will be carried out by "telephone", and insurance companies usually have clear rules.
Insurance broker or financial advisorAfter submitting the insurance application to the insurance company, the customer will be notified. In the next few days, the insured person will receive a call from a third-party medical examination institution to inquire about his health and living habits.
If the insured has no pre-existing conditions (Pre-existing conditions), this process can usually be completed in about ten minutes.
Please note that telephone underwriting is a serious process, and all your answers will be recorded and used as the basis for judging "can accept the application" and "insurance rate".Therefore, before conducting a telephone interview, you can refer to the following strategies.
What questions are usually asked for phone underwriting
The telephone underwriting process is usually in English.The author briefly outlines this process here to alleviate some of the insured's doubts about telephone underwriting.
After receiving the call, the underwriters will explain their intentions and inform that the entire call will be recorded.
Next, the underwriters will ask if phone underwriting is possible at this time, and then confirm that the person who answers the phone is the insured person (such as verifying the name, social security number, birthday, etc.).
The following questions are roughly divided into the following categories, focusing on the following points:
- Family doctor information (if available)
- Medical and health history related issues
- Simple driving record and habits
- Lifestyle habit
- Hobbies, high-risk sports, etc.
- Whether the parents are alive, age
- Specific travel plans in the next 12 months or 24 months (air tickets or hotels have been booked)
All problems are the policyholderCan answer right away,orJust answer "No" or "Yes". E.g:
- Height and weight;
- Have you received treatment for heart, blood pressure, circulatory system and other problems in the past years;
- Whether there has been a record of drunk driving or driver's license cancellation in the past many years;
- Whether to use products containing nicotine, etc.
- Are there any cardiovascular and cerebrovascular diseases?
- Are there any respiratory related diseases?
- Are there any neurological or psychiatric related diseases?
- Are there any undisclosed diseases?
- ... ...
If the answer to any questions in this section,If it’s "yes", The underwriter will ask the insured to make further explanations.Therefore, if there is an explanation in this regard,Need to prepare relevant documents in advance to help memorize.For example, the time of occurrence, the name of the person, the location, and the result at that time are involved.
Finally, the entire telephone underwriting process usually does not exceed 30 minutes. At the end, the telephone underwriting staff will tell the insured that theirbrokerWe will get in touch with the insured within a few days to communicate the underwriting result or other matters.
2020/12 Update:During the global new crown epidemic, insurance companies generally no longer acceptIn the next 12 months or 24 months, there are overseas travel plans (hotels, air tickets, or travel plans with detailed specific itinerary) application for insurance.
(Copyright ©️ Heather xiong ）
