The Ripley Group - Processes when Applying for Life Insurance

 

When working with The Ripley Group in applying for life insurance coverage, there are one of four main processes that an individual will go through to obtain life insurance protection.

 

"Non-Medical" underwriting "Electronic" Application  (E-App)

  • A licensed agent collects information (personal info, health and lifestyle info, payment info, requested policy info) over the phone to input the applicant's information into the insurance company's secure website.
  • The electronic pdf application or electronic web application is then sent to the applicant for their review and "electronic signature"
  • The "e-app" is then sent to the insurance company's underwriter for risk assesment and ultimate decision of acceptance or rejection. Some applicants will be subject to a Personal History Interview (PHI) to be completed by the underwriter or case manager from the insurance company that the applicant applied with.
  • If rejected, a letter is mailed to applicant. If approved, policy is placed in-force once all delivery requirments are received by life insurance company.
  • Hard copy policy is mailed to policy owner/applicant, in some instances a pdf policy is sent out via e-mail.

"Non-Medical" underwriting "Paper" Application

  • A licensed agent collects information (personal info, health and lifestyle info, payment info, requested policy info) over the phone to prepare and send out the paper application via mail, e-mail or fax.
  • The paper application is then reviewed and ink signed by the applicant, then returned to the licensed agent via mail, e-mail or fax.
  • The paper application is then sent to the insurance company's underwriter for risk assesment and ultimate decision of acceptance or rejection. Some applicants will be subject to a Personal History Interview (PHI) to be completed by the underwriter or case manager from the insurance company that the applicant applied with.
  • If rejected, a letter is mailed to applicant. If approved, policy is placed in-force once all delivery requirments are received by life insurance company.
  • Hard copy policy is mailed to policy owner/applicant, in some instances a pdf policy is sent out via e-mail

"Traditional" underwriting "Paper" Application

  • A licensed agent collects information (personal info, health and lifestyle info, payment info in some cases, requested policy info) over the phone to prepare and send out the paper application via mail, e-mail or fax.
  • The paper application is then reviewed and ink signed by the applicant, then returned to the licensed agent via mail, e-mail or fax.
  • An Examiner (nurse or phlebotomist) comes to the applicant's home, workplace or meets the applicant at the local examiner's office to gather a blood sample, urine specimen, record height, weight, medical question answers. (See Medical Exam Tips) The examiner securely sends all of the collected data to the insurance company or lab.
  • The paper application is then sent to the insurance company's underwriter to match with the lab results for risk assesment and ultimate decision of acceptance or rejection. Some applicants will be subject to a Personal History Interview (PHI) to be completed by the underwriter or case manager from the insurance company that the applicant applied with.
  • If rejected, a letter is mailed to application. If approved, the applicant is contacted to discuss the approval details and is given the opportunity to change what policy they applied for.
  • The hard copy policy is mailed out to the applicant for their review. In some cases an electronic policy is e-mailed. The applicant sends back their premium and final delivery requirments to place the policy in effect.

*** Traditional underwriting application medical requirements vary based on age, state, face amount. For instance, some applicants will be required to give a urine sample but not a blood sample. Some applicants will be required to have an EKG/ECG.


"Traditional" underwriting "Electronic" Application  (E-App)

  • A licensed agent collects information (personal info, health and lifestyle info, payment info in some cases, requested policy info) over the phone to input the applicant's information into the insurance company's secure website.
  • The electronic pdf application or electronic web application is then sent to the applicant for their review and "electronic signature"
  • An Examiner (nurse or phlebotomist) comes to the applicant's home, workplace or meets the applicant at the local examiner's office to gather a blood sample, urine specimen, record height, weight, medical question answers. (See Medical Exam Tips) The examiner securely sends all of the collected data to the insurance company or lab.
  • The e-app is then matched with the lab results for risk assesment and ultimate decision of acceptance or rejection. Some applicants will be subject to a Personal History Interview (PHI) to be completed by the underwriter or case manager from the insurance company that the applicant applied with.
  • If rejected, a letter is mailed to application. If approved, the applicant is contacted to discuss the approval details and is given the opportunity to change what policy they applied for.
  • The hard copy policy is mailed out to the applicant for their review. In some cases an electronic policy is e-mailed. The applicant sends back their premium and final delivery requirments to place the policy in effect.

*** Traditional underwriting application medical requirements vary based on age, state, face amount. For instance, some applicants will be required to give a urine sample but not a blood sample. Some applicants will be required to have an EKG/ECG.

 

* The four processes that are outlined are for the majority of applicant's. The process may be individualized based upon certain age groups or other factors that affect the applicant's insurability. All four processes are not avaialble to everyone. Age, face amount and state restrictions are always a factor when applying with a insurance company and the process that is allowed for that age group, face amount, and the state in which they reside in.

 

The Ripley Group

P.O. Box 516

South Cle Elum, WA 98943

800-581-3130