Nationwide's Standard Rate Class Eligible for Accelerated Underwriting
From Nationwide:
Now, clients rated “Standard” or better, including tobacco, are eligible to accelerate to a final decision without having to take an abbreviated exam. This is just one more way we are providing a more seamless experience for you and your clients within our Nationwide Intelligent Underwriting process.
Nationwide Intelligent Underwriting streamlines the life insurance application process for both you and your financial professionals, and it’s available with most of our term and permanent life insurance products. Our faster and more efficient underwriting process allows you to spend more time growing your business. Here’s how:
Our acceleration process helps place cases faster. Accelerated cases in good order are issued within 24 to 48 hours
The acceleration process is simple and easy. When a case accelerates, our placement rate is 95% — there are no random holdouts.
There’s the flexibility of an Online Interview or a Tele-Interview conducted by medical professionals. With our new Online Interview, clients provide personal and health information electronically through a secure and easy online process. Our Tele-Interview is still available as well and eliminates the back and forth between the Brokerage General Agent (BGA) the financial professional.
You maintain control. We keep you informed about the process every step of the way. BGAs remain involved by ordering medical records, if needed.
There’s direct involvement with your case manager and underwriter. There is no separate Intelligent Underwriting team, so relationships remain intact.
Acceleration is available for a wide range of rate classes. It allows for acceleration of Standard or better risk classes including tobacco.
It allows for the acceleration of the Long-Term Care Rider for some of the healthiest clients.
Clients need to participate in only one questionnaire experience. Their online or telephone interview now serves as a single touchpoint to provide information about their nonmedical and medical history. At the end of the online or telephone interview, digital or electronic voice signatures are utilized. This approach reduces cycle times and helps you spend less time on application forms.
Clients no longer need to take a full paramedical exam. Only an abbreviated exam is necessary when needed. The examiner will collect height, weight, blood pressure and pulse information and urine and blood samples.
It provides a flexible approach. Clients can still receive the best rate class even if they don’t qualify for acceleration.
Click here to view more details on how Nationwide Intelligent Underwriting can help streamline the life insurance application process.