Jenilee Wirtz

Archive for the ‘New York Life’ Category

Heartbreak and hope: Family faces two devastating cancer diagnoses

In Charity, New York Life, Why you need life insurance on April 7, 2011 at 1:40 am

Professionally, I find that many clients want to “hold off” on purchasing their life insurance.  I stress the fact that we truly never know what will happen to us, and share with them the importance of protecting our insurability. 

 

Elisa and Nathan Bond’s life seemed perfect. Not long after their fairy-tale wedding, they had a beautiful baby girl who was growing into a happy toddler. Outside of a few extra pounds Elisa wanted to shed, she couldn’t think of a single thing wrong with their lives.

But on Valentine’s Day, the fabric of their existence started to unravel. Nathan, 38, learned he had Stage 3 colon cancer and only a 65 percent chance of surviving the next five years.

They were still absorbing the news when, just nine days later, 36-year-old Elisa received an even worse diagnosis: the lump in her breast was malignant and her cancer had already spread. She had Stage 4 metastatic breast cancer, and her chances of surviving another five years are just 16 percent.

Elisa has only one request for those following her family’s story, she told TODAY: “If you envision our circumstance, don’t envision the cancer, envision the healing. Envision us playing with Sadie when she’s 5, when she’s 10… arguing about the keys to the car when she’s 16. That’s what we ask.”

Read the full story & watch the video clip from the TODAY SHOW here!  To donate to Elisa & Nate, visit their blog.

If you or someone you know is “putting off” the decision to fund a life insurance policy, please share this story with them. 

For more information on New York Life Insurance Company, the products we offer, or for a free consultation please contact Jenilee Wirtz at 860-716-9899 or jfwirtz@ft.newyorklife.com

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“I’m all set. I have Life Insurance through my employer.”

In New York Life, Professional Advice, Why you need life insurance on February 4, 2011 at 2:16 am

…Are you though?

The following information is provided by AMPM Insure Insurance Community.  I found the article interesting enough to share because I constantly run across individuals that who think they’re “all set”-they already have life insurance through work.

Most employers that offer group life insurance pay for the coverage either up to the employee’s salary, or a multiple of that salary.

Additional coverage is sometimes offered for an additional cost to be paid by the employee. The cost for the additional coverage may be low for a younger person (in their 20’s, 30’s, or 40’s), but group coverage most often has premiums banded in 5 year intervals. For example, a given rate is charged for someone between ages 35-39, a higher rate for 40-44, and so on. Group life insurance also has some major limitations:

1. If you are in good health, you are being charged a higher rate than you may be able to get by purchasing your own individual life insurance policy.

2. Coverage is limited, usually to a multiple of your salary. Often this multiple does not adequately cover the total needs in the event of death. Someone making $75,000 per year may be able to get up to $300,000 of group life insurance, but may have a need for $1,000,000.

3. If you leave the company, you lose the insurance. Any portion the employer pays as a benefit is usually eliminated.

4. If you leave the company and are offered the chance to convert and keep your coverage, it will often be very, very expensive.

5. You don’t own the coverage. If your employer goes bankrupt, you may be left with nothing.

6. The cost of insurance as you reach older ages on a group policy such as 60, 65, and 70, becomes very expensive compared to the cost of buying your own life insurance policy.

When you purchase your own life insurance policy, you can lock in the benefit amount that YOU choose for the amount of time that YOU want. Your premiums are guaranteed never to increase for the period of time that you choose. Your total premium outlay over that time period will almost always be less expensive than group life insurance unless you are in very bad health.

If you have life insurance through work but would like to learn more information about setting up a personal policy, please contact me at (860) 298-1068 or jfwirtz@ft.newyorklife.com.

Whole Life Insurance: An Excellent Investment Everyone Tells You Not to Buy

In New York Life, Professional Advice, Why you need life insurance on February 2, 2011 at 8:59 pm

Guest Blog!

All of the text below was taken from Dan Solin’s Blog:


Financial advice is unique. Most of it is dead wrong. The advice given by brokers (or “financial consultants,” as they like to be called) frequently has nothing at all to support it.

If you ask most financial advisers about cash value life insurance, this is what you will hear: Buy term and invest the difference. For many people, this makes perfect sense, but most people buy term and spend the difference.

If you buy term and spend the rest, you will have nothing to show for it-no cash value and no ability to keep the policy in force because of the significant premium increases as you age. That’s why most term policies expire prior to the death of the policyholder.

I don’t sell insurance and have no interest in any entity that does. However, I do believe the right kind of cash value (also called “whole life”) insurance policy could be a worthy addition to your portfolio.

Let me give you an example:

If you are twenty-nine years old, in excellent health, and a nonsmoker, you could purchase a cash value policy for a premium of $17,000 a year, for twenty years. The policy would have a death benefit of $1.2 million.

After the first year, the cash value of this policy would be more than $15,000. After five years, the cash value would exceed the premiums you paid up to that point ($85,000). After twenty years, the policy would be fully paid up, and you would not have to pay any additional premiums to keep the policy in force.

You don’t have to die to benefit from this policy. You could take out the cash value of the policy, up to the amount of the premiums paid, tax-free (although these withdrawals will reduce the amount of the death benefit). If you hold the policy until death, the death benefit will be paid to your beneficiaries tax-free.

The after-tax return of this policy is illustrated to be 5.5 percent, which is significantly greater than what you are likely to earn on your own after-tax by investing in bonds. By holding this policy, you can consider more aggressive investments for the balance of your portfolio.

The stark reality is that most Americans in their fifties have not accumulated anything close to the cash value of this policy. For those people, having access to this fund during their life, and providing for their beneficiaries upon their death, would be a huge improvement over the dire circumstances they are confronting.

Here’s the problem:

Your insurance agent is unlikely to present you with the optimal policy that will maximize your cash value. What you should look for is a blended insurance policy, which means it combines whole life and term life into a single policy. A blended policy should result in higher cash values immediately, and higher death benefits at life expectancy, because of lower sales costs. Blended policies are sold by many excellent, highly rated insurance companies, including Northwestern Mutual, Guardian, New York Life, and Mass Mutual.

“Lower sales costs” means lower commissions. Insurance agents are motivated to sell you traditional, higher-commission policies.

If you are considering insurance where the annual premium will be $10,000 or more, you should retain the services of a fee-only insurance consultant. They give unbiased advice and agree to act as your fiduciary (meaning they have no conflicts of interest and look out solely for you). In most states, an insurance agent has no fiduciary obligation to you.

Learn about the other side of the story with term life insurance from Linda Rey at the Equifax Personal Finance Blog.

For more information on how I assist clients with their retirement needs (including Cash Value Whole Life Insurance), please contact me at (860) 716-9899.

New York Life Child ID Program @ 2011 FM Auto Show!

In Child ID Program, Community Events, New York Life, Support Local Business! on January 27, 2011 at 7:06 am

This weekend, January 29 & 30th:

Local Connecticut New York Life Agents will be bringing our CHILD ID program to the Frank Maratta Auto Show!

Some of the show’s features:

MEET JOEY LOGANO!
Joey “Sliced Bread” Logano Autograph Session

Sunday January 30th
1:30pm – 3:30pm

Meet Joey Logano, driver of the #20 Home Depot Toyota

Camry in the Nascar Sprint Cup series for Joe Gibbs Racing at this year’s 52nd Annual Frank Maratta’s Auto & Cycle Show.

Live Airbrushing with Alan Pastrana
Sponsored By: Auto Air Colors
Meet the world renowned artist and view works of art that will blow your mind.

All Weekend Long!
Come see world renowned Airbrush Artist Alan Pastrana and the legendary, “Hip Hop Bike” featured both in “Easyriders” and on the cover of “Airbrush Action” magazine. Pastrana Unlimited will be doing live airbrushing demos all weekend long and showcasing the most amazing, mind blowing, works of art on custom motorcycles. Also featured are custom builds by Evolution Cycles and Vindicator Cycles. Stop by and say hi, we love to talk you about your next paint job.

For more information on Alan Pastrana and his custom artwork, visit his website at www.pastranaunlimited.com.

For more information on admission, times, videos from past shows, and features please visit the FM AUTO SHOW’S website here.

Protecting Assets During Challenging Business Times

In New York Life, Professional Advice, Support Local Business!, Why you need life insurance on January 26, 2011 at 10:44 pm

Small businesses are the engine of the economy, and when the economy sputters they often feel it first. In the current climate of uncertainty, many small businesses have cut expenses to the bone and tried to make their operations as lean and efficient as possible.

But even if a small business owner can’t control the marketplace, he or she can take steps to protect their key assets: the people the business relies upon.

Details Matter To Customers

A recession tests customer loyalty, as people cut back on spending and carefully weigh their options for even necessary purchases. For businesses that are strapped themselves, it may be easy to let attention to the details of customer service slip. But this is the time that details matter most, whether it’s taking the trouble to send a holiday note to your mailing list or offering special deals to prize patrons. The key to their loyalty is to let them know they matter to you.

Appreciate Your Employees

Of course, you want your employees to know they’re important, too. You need their knowledge and experience to navigate the uncertain times. The recession might mean sacrifices for everyone, but it is also a time to make sure valued workers know how much they are appreciated. Even small gestures, like movie tickets or a night at a local restaurant, can keep morale steady.

Supplement Benefits, Not Costs

You may want to consider “beefing up” your employee benefits package. A “Voluntary Payroll Deduction” (VPD) program is one of the most popular ways employees can purchase additional, personally-owned buy life insurance. A VPD program can usually be set up using your existing procedures for payroll deduction. A life insurance agent would then meet individually with each employee to explain the benefits of life insurance and the ease with which it can be purchased. All products purchased through VPD are employee-owned and paid for, with no direct out-of-pocket cost to you except the cost of administration. The VPD offerings can be a smart way to supplement your overall benefits package, without draining your budget.

Note: Employee participation in a payroll deduction insurance program is completely voluntary. Since this program is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA), employers cannot contribute to, or endorse, this program.

Protect Yourself

As the owner of a business, you are the most important piece of the puzzle. And especially during difficult times, it is important to think about how the business would function without you. One thing that can provide a greater sense of security is a comprehensive life insurance policy. It can be tailored to fit your needs and ensure that those who rely on you every day would be provided for.

So when you think about protecting your assets in this economy, consider your human assets first.

This educational third-party article is being provided as a courtesy by Jenilee Wirtz. For additional information on the information or topic(s) discussed, please contact Jenilee Wirtz at jfwirtz@ft.newyorklife.com.

Attracting and Retaining Excellent Employees

In New York Life, Professional Advice, Support Local Business! on January 18, 2011 at 11:26 pm

Winning over employees, keeping morale high, and building company loyalty are as important to your business’s success as a healthy balance sheet. Sure, you’ve hired good people, but how do you keep them happy and productive? A competitive salary is a good place to start, but that’s just one element in an attractive package.

 Recent studies show that a key concern of employees is finding the right balance between their life at the workplace and their life at home. In addition, employees are looking toward their employers for help in managing their basic needs, such as adequate health care coverage, life insurance, and putting something aside for the future.

Management must respond to workers’ needs while carefully containing the cost of funding these programs. In recent years, many cutting-edge companies have experimented with creative new personnel ideas. A wide range of programs, from “telecommuting” to “voluntary payroll deduction,” have been designed to enhance employee quality of life while boosting company productivity.

Innovative Attendance

For some businesses, the 9 to 5 grind is a thing of the past. Depending on the nature of the business, it may not be necessary for every employee to work strictly a 9 to 5 schedule. “Flextime” allows employees to select their own starting time (within a range of hours, say, 7AM – 9AM), and then leave work eight hours after their starting time. With two working parents as a norm, “telecommuting,” has become a way for companies to keep valuable employees who otherwise may leave their job. This work-at-home arrangement uses the technology of laptops, fax machines, and e-mail to make working outside the office easier than ever.

Supplement Benefits, Not Costs

In the past decade, “Voluntary Payroll Deduction” (VPD) programs have emerged as a convenient way of supplementing the range of benefits provided to employees. It’s rapidly become one of the most popular ways to buy life insurance, and it’s at home in businesses as diverse as Wall Street law firms and Main Street small businesses. A VPD program can usually be set up using your existing procedures for payroll deduction. A life insurance agent would then meet individually with each employee to explain the benefits of life insurance and the ease with which it can be purchased. All products purchased through VPD are employee-owned and paid for, with no direct out-of-pocket cost to you except the cost of administration. The VPD offerings can be a smart way to supplement your overall benefits package, without draining your budget.

Why Employees Like VPD

Most people agree that adequate life insurance coverage is a necessity; however, many employees rely heavily on their group plan, and don’t purchase it on their own. A VPD program affords employees the opportunity to get the coverage they need in a relatively painless fashion. Because the policy is being offered to many employees, premium rates are generally quite competitive. Since employees own their policy, it’s portable — they can take it with them if they leave the company. If they choose permanent life insurance, along with vital insurance protection, the policy accumulates guaranteed* cash values.

 Attracting the Best and the Brightest

As the pool of qualified employees shrinks, employers must go “beyond the nine dots” to attract and retain talented people. Companies perceived as employers of choice are successful largely due to the superiority of their personnel policies and the range of choices they offer their employees. If a VPD program sounds right for your employees and your firm, you’ll want to choose a top-notch insurance company to serve as the provider.

 Note: Employee participation in a payroll deduction insurance program is completely voluntary. Since this program is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA), employers cannot contribute to, or endorse, this program.

*Guarantees are dependent on the claim-paying ability of the issuing company.

 

This educational third-party article is being provided as a courtesy by Jenilee Wirtz, Agent, New York Life Insurance Company. To learn more about the information or topics discussed, please contact Jenilee Wirtz at jfwirtz@ft.newyorklife.com.

New York Life Introduces Mobile Customer Self-Service

In New York Life, Social Media Madness on January 13, 2011 at 7:29 am

New York Life…so tech savvy!  Check out this article from Mobile Commerce Daily.

 

 

New York Life Insurance Co. has added mobile enhancements of its customer self-service Web site for policy and account owners.

The enhancements make it is much easier for customers to view policy and investment information, transfer funds and change future payment and investment allocations from their Web-enabled mobile devices.

“Our strategy is to provide our customers with options in the way they initiate service requests,” said Gary J. Miller, senior vice president and head of individual policy services at New York Life, New York.

“Our customers can still receive excellent service by phone or even by the postal system,” he said. “But now they can receive the quickest and perhaps the most convenient service through their mobile devices which we are very happy to provide.”

New York Life Insurance Co., a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world.

New mobile features
Customers can get detailed information about their insurance policies, annuities and variable products, including cash value, premium payment and beneficiary information in a form that is automatically optimized for viewing on their mobile device by screen size and resolution.

Account holders can view account summaries and services, look for New York Life agents and offices, read articles and view videos about the company on all three mobile sites.

“We believe that as our customers become more and more familiar with the ease of using their mobile devices to interact with us that our call center volume is likely to decrease,” Mr. Miller said. “More and more customers and potential customers are expecting to do their financial business through their mobile devices.

 

For the full article, please click here.

Life Insurance: Can You Afford To Wait?

In New York Life, Professional Advice, Why you need life insurance on January 11, 2011 at 9:24 pm

Critical decisions, such as buying a home, getting married or having children, require deliberate, thoughtful consideration. Indeed, the outcome of any one of these decisions can irrevocably change your life for better or worse. But, delaying the purchase of life insurance can be a costly mistake for you and your loved ones. Waiting just a few years can have a negative impact on several key areas of a life insurance policy.

Whole Life Insurance: Financial Protection Plus Cash Value Accumulation

In its simplest form, whole life insurance protects the people who depend on you for financial support — no matter what happens to you tomorrow. Aside from providing money to your beneficiaries to replace your income, whole life insurance also offers guaranteed* cash value accumulation on a tax-deferred basis, as long as the policy remains in force. If available, cash value can be borrowed against to fund a child’s education, supplement your retirement income, or meet an emergency cash need. Remember, policy loans accrue interest at the current variable loan interest rate and reduce the total cash value and total death benefit by the amount of the outstanding loan and accrued loan interest.

 The Effects of Waiting

Since a portion of the premiums paid accumulates cash value each year, over the long term, cash value accumulation can be considerable, especially since taxes on the growth are deferred. Generally speaking, the sooner you start paying policy premiums, the faster your cash value may accumulate.

 A whole life policy is also eligible to receive dividends, if and when declared by the insurance issuer. Unlike cash values, dividends are not guaranteed. In addition, past dividends are not indicative of future dividends. As a policyholder, you have several options for dividends usage. For example, you can take dividend distributions in cash or apply dividends to add insurance coverage through the purchase of paid-up additional life insurance. Paid-up insurance is also eligible for dividends, has cash value and requires no additional premiums. Other dividend payment options may be available. So, waiting in this case can cost you the opportunity to increase the benefit paid to your beneficiaries.

 Although you’re healthy now, you decide to delay purchasing whole life insurance for five years. In five years, you may suffer an unexpected health condition, which may place your insurability in jeopardy. In the worst-case scenario, if you were to die in the next five years, the cost of waiting would be the death benefit your beneficiaries would not receive.

 Remember, purchasing life insurance is a major decision. So, it’s important to take the time to gather all the necessary information and choose the coverage that best suits your needs. While the decision is up to you, keep in mind that postponing your decision can prove to be costly.

*Guarantees backed by the claims paying ability of the issuer.

 This educational third-party article is being provided as a courtesy by Jenilee Wirtz. For additional information on the information or topic(s) discussed, please contact Jenilee Wirtz at jfwirtz@ft.newyorklife.com.

Do You Need a Will?

In New York Life, Professional Advice, Uncategorized, Why you need life insurance on January 5, 2011 at 12:57 am

A will is one of the most important documents you can create in your lifetime. Think of a will as the financial blueprint of the distribution of your assets after your death. Your will can clearly state who will be guardian of your minor children, who will inherit your assets, when they will inherit your assets, and any conditions that must be met for them to receive your assets.

If you die without a valid will, the court does not have your instructions to follow. Therefore, it has no way of knowing how you may have wanted to distribute your assets. The state where you lived steps in and makes the decisions for you, according to the distribution schedule set forth in its intestacy statutes. The state’s decisions may or may not conform to your wishes, or to what is best for the people closest to you. Also, your loved ones will likely have to hire an attorney and incur delays to determine who will receive your assets.

Common Misconceptions

  • Myth: “My assets are so small that a will is not necessary.”

Fact: Think again. You are generally worth more than you give yourself credit. Even if some possessions do not hold great monetary value, they could hold an enormous amount of sentimental value — and that’s something you can’t put a price on. Failing to indicate who receives these treasures in your will can cause friction between family members that lasts for decades.

  • Myth: “When I die, my spouse will get all of my assets.”

Fact: Maybe and maybe not. Any assets held jointly with right of survivorship automatically pass to the joint owner. And assets with a beneficiary designation, such as IRAs, life insurance and annuities, pass as stated on the beneficiary form. What happens when your surviving spouse dies? What happens if your beneficiary form is outdated? Will your children receive their share at too early of an age? Does your spouse have the financial skill to manage the family wealth?

  • Myth: “I can create a will on my own and save the legal costs.”

Fact: “Do-it-yourself” wills often do not contain all of the necessary components as required by state law. Anyone who might benefit from an invalidation of your will can contest it, and if the courts decide in his or her favor, your estate may have to pay for all legal costs. Remember, the few dollars you save now can cost your loved ones thousands of dollars later.

  • Myth: “I don’t want my final wishes to be set in stone. I’ll create a will later in my life.”

Fact: The terms of a will can change as often as needed. Legal experts agree that you should reexamine your will periodically to make sure it is up-to-date. A will should receive a “checkup” whenever there is a substantial change in your life.

How do You Create a Will?

Drafting a will is difficult and is not an endeavor you want to tackle single-handedly. It’s important that you call on the services of an estate-planning lawyer. A lawyer might help you:

  • Determine what type of will you need
  • Help you make the right decisions as to how your assets should pass
  • Change the terms of an existing will, if appropriate
  • Save on estate taxes
  • Take advantage of estate planning opportunities people often overlook

Life Insurance and Wills

How does life insurance fit into the picture? Life insurance is a vehicle you can use to help make sure your estate has the cash needed to pay expenses at your death, such as funeral costs, debts, and estate taxes. Without liquid assets, the estate may be “forced” to sell assets — securities may have to be sold in a down market and other assets may have to be sold at a discount. In most instances, life insurance proceeds are paid income tax-free to your beneficiaries. And if desired, life insurance can be owned by a trust or a third party and also not be subject to estate taxes.

Don’t Wait Until It’s Too Late

Despite the importance of an estate plan, which includes a will, 80% of Americans still do not have one.[1] Why? Creating a will forces each of us to come face-to-face with our own mortality — and dealing with death is difficult. But, it will be much more difficult for your loved ones if you don’t have a will. Remember, you should seek the services of a qualified attorney to draft your will.

This educational third-party article is being provided as a courtesy by Jenilee Wirtz. For additional information on the topic(s) discussed, please contact Jenilee Wirtz at jfwirtz@ft.newyorklife.com or 860-716-9899.

Neither New York Life, nor its agents, provides tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.


Life Insurance Medical Examination

In New York Life on December 8, 2010 at 1:58 am

“I made the decision to purchase a New York Life Insurance policy to protect my family…what’s the next step?”


To gain as complete a picture of the potential risk an individual presents to the insurance company, the evaluation of the application and the relevant information about an individual’s activities and general health are important.

The life insurance application is usually completed in two parts, known simply as Part I and Part II.

Part I consists of general information about the individual as well as personal information about such things as driving history, criminal history, other life insurance coverage, recreational sports activities and finances.. There is also an authorization to sign which grants permission for the company to request medical information from physicians and other medical record keepers if it becomes needed.

Part II is the medical questionnaire. Depending upon the amount of insurance this portion of the application will be completed by either your life insurance agent, a paramedical professional or a doctor.

Once completed, the Part I and Part II provide the insurer with a fairly comprehensive picture of the exposure to risk the proposed insured represents. Each company has its own standards of what it considers to be acceptable insurable risks and will offer a policy based on those guidelines.

What kind of medical exam will I have to take?

The short answer is – that depends. Generally speaking, if you are under 40 years of age and are applying for less than $100,000 of coverage, there’s a good chance the company will not have an actual exam completed but will have some lab studies completed such as an oral fluid test, blood test or urinalysis. If you are over 40 for and/or applying for more than $100,000, you may be required to have either a paramedical or full medical exam. In addition to the exam any of the following studies could be included with the exam: oral fluid test; blood test; urinalysis; EKG tracing; X-ray and possibly a Treadmill Stress test. If any of these exams or tests becomes required and they are not completed, the company will not accept your application for insurance.

  • a. Paramedical Exam

A trained technician will complete the paramedical exam. The paramedic asks medical history questions and measures height, weight, blood pressure and pulse. Depending upon your age and the amount of insurance being applied for, the paramedic may also perform an oral fluid test or a blood and urine test and possibly an electrocardiogram as well. In most cases a paramedic will call you to find a convenient time to schedule the exam and come out to your house to perform it. You also have the option of going to a clinic for the exam. The exam takes approximately 30 minutes.

  • b. Full Medical Exam

A physician will complete the full medical exam. The exam consists of the same elements of the paramedical exam, plus listening to the heart, and a review of other bodily systems. Some companies specify that the physician must be a board certified internist or heart specialist rather than a general practitioner.

What do the tests show?
The insurance company wants to check for any unknown conditions that could adversely impact an individual’s normal life expectancy and could increase the company’s risk. The urinalysis screens for a number of things including diabetes, the presence of medications and nicotine as well as general kidney function. The blood profile can reveal the functioning of organs of the body and specific testing for things such as diabetes, liver impairments and kidney impairments as well as HIV testing. An oral fluid test can indicate the presence of HIV antibodies, as well as cocaine and nicotine.

What other information does an insurance company gather?
In addition, to Parts I &II the company may want to review your medical records or obtain a phone interview with you. Medical records can be obtained for a few reasons with one being a way to check how your personal physician is treating you or has treated you for a medical condition.

At times a phone interview is conducted to verify the information on the application and to obtain a few additional details to clarify this information. In the case of New York Life, if an interview is needed a company representative will contact you directly to maintain a high level of customer satisfaction and confidentiality.

Can proposed insureds access all the results of exams and other requested information?
Yes. People can and frequently do request to receive copies of test results. They can also request to have them sent to their personal physician.

Who else has access to these results?
Exam results and medical records are sent directly to the company’s underwriters and handled in strict confidence.

How are the results used?
The information gathered on both parts of the application and from the other requirements is used to classify the risk a person represents. Based on the level of risk a proposed insured is placed into one of four general categories, preferred, standard, special class or declined. Every company has its own rating and based on this they determine the premium structures for the policy.

What if an exam reveals an unknown medical problem?
Remember most people that undergo medical exams qualify for insurance without any concerns. In the unlikely event a problem is discovered, you may be offered a policy with a higher premium as a special class or we may postpone the application until the findings are evaluated by your personal physician.

What is role of the agent in this process?
The agent can act as your advocate in the process and with the insurance company. The agent can explain the underwriting and exam process to make sure the proposed insured understands why certain tests may be needed.

While a medical exam can seem like a hassle at first, let me assure you that it is very quick process done by professionally trained examiners.  Do not let a medical exam stop you from making a very important decision for you and your family.  Please read the full article here.