TRUST ASSET CONSULTANTS | 1121 Olivette Executive Parkway, Ste 200 | St. Louis, MO| 63132
Trust Asset Consultants
Impaired Risk and Longevity Planning All carriers, products and policies, and medical underwriting criteria are not the same. For example, the life insurance application process for senior and ‘impaired’ risk insureds warrants a different underwriting process. For older age insureds with a questionable medical history, it is ideal to pursue a ‘specialty underwriting’ approach that screens multiple carriers to determine interested carriers and insured medical risk rating prior to submitting an application.   This is accomplished by obtaining and previewing medical records, understanding the medical underwriting preferences of carriers who offer the preferred product type, and obtaining expressions of carrier interest conditioned upon formal application submission and a medical exam. This ‘reverse engineering’ approach minimizes medical underwriting and policy pricing uncertainties before an application is submitted. ‘Longevity Planning’ refers to the insured’s life expectancy that determines the life insurance policy’s duration period planning. Cost of insurance charges increase annually with age. For older and impaired risk insureds, it is prudent to obtain at least one life expectancy report so that duration period planning and policy premium outlay considerations are based upon the insured’s medical records, not group mortality tables.    TAC is experienced in ‘reverse engineering’ the normal underwriting process as well as obtaining one or more life expectancy reports so that the process favors the insured and policy owner applicant, and minimizes typical life insurance planning uncertainties.