Not all cases are created equal when it comes to competitive offers from life insurance carriers — especially on the larger, more complicated high net worth cases. More than ever, skilled and specialized underwriting makes or breaks the offer. With carriers becoming more particular about diversifying risk and managing capacity, they are inspecting large cases with caution — requiring more medical data and extensive financial information on applications with considerable face amounts, sizable premiums and complex funding strategies. But it’s not just more information that is required. The information needs to be packaged and pitched to the carriers in a customized way that makes a strong argument for writing the risk. This requires “know-how” in specialized areas of medical and financial underwriting, case design, advanced planning, and marketing. Enter stage right — SWAT Underwriting — the secret to competitive offers.
In her work as a policy review specialist for Highland Capital Brokerage and Premier Trust, a dedicated Nevada-based trust administrator, Peg Michails resolves orphan individual life (no agent of record) and trust-based policies. Her goal: to ensure clients and their beneficiaries get what they were promised.
Average life expectancy now hovers around age 79 in the U.S. and age 84 in Japan, and it’s rising fast worldwide. By 2030, one-fifth of the U.S. population will be 65-plus. In South Korea, life expectancy is expected to reach 90 years of age. What does all this mean for clients and their advisors? Nancy Simm, our Director of Long-Term Care and Longevity Planning, has spent most of her adult life working in this field and thinking through the ramifications. The upshot? When it comes to long-term-care coverage, everyone should have a plan for it.
After more than 27 years of experience in product development, product support and advanced case design, Tom Ellefsen knows full well how life insurance can function as a wealth transfer, wealth accumulation, business protection or estate planning vehicle. Tom makes it happen for large cases by putting together presentations, packages and illustrations that enable advisors to easily explain what they have in mind for a client.