Carriers use crediting criteria to improve your clients’ ratings. The following case study shows how the identification and application of underwriting credits can significantly reduce premiums.
- Male, age 35, NS
- Seeking $2 mil of term
- No tobacco use
- Build is 5’8”, 204 lbs
- Blood pressure 130/85
- Cholesterol 273 with cholesterol/HDL ratio of 5.5
- Father diagnosed with prostate cancer at age 56, but still living at age 67
Underwriting Rating: Using traditional criteria, this proposed insured would qualify for Standard Plus with a $2500 annual premium.
Crediting Criteria: Crediting Criteria added 1 inch to the proposed insured’s height, making him 5’9”, 208 lbs. He was then considered Preferred for build.
Final Decision: Case was moved to one class higher and issued Preferred – Annual premium = $1753 and saving nearly 30%.
On each case we see, we work hard to identify any underwriting credits your client may qualify for. Contact our Underwriting Department today.