Accelerated underwriting is a streamlined underwriting process making it easier and faster for people with good health to obtain life insurance with no exams.
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FASTER, MORE EFFICIENT UNDERWRITING
Accelerated underwriting is making it faster and easier for people with good health to obtain life insurance. By identifying clients who meet certain health guidelines and putting them on an accelerated underwriting path, these eligible clients can skip the invasive medical exam portion of the underwriting process and get approved for coverage more quickly. Clients will have an overall faster and more pleasant customer experience, and advisors will enjoy a more streamlined process.
HOW IT WORKS
- Submit e-Application or Drop Ticket.
- Complete Client Interview - This can usually be done within 24 hours. The sooner a client completes the interview, the faster the decision is made.
- Underwriting Review - After the client interview is complete, the underwriter will review the application and decide whether the client is eligible for accelerated underwriting.
- Notification - The agent and client are notified. If the client goes through the accelerated path, the policy is usually issued within 48-72 hours. If not, they may need to go through traditional underwriting.
KEY FEATURES AND BENEFITS
- Fast Approvals - Approvals may come in days, not weeks.
- No Medical Exams - No medical exams or bloodwork required.
- Saves You Time - Paperless process with less chance for errors and delays.
- Convenient - Simple for you and clients, and provides a better experience.
All Sorts of Clients Qualify for Accelerated Underwriting
Here are four examples of different types of clients who may qualify for Prudential's PruFast Track Accelerated Underwriting program.
