The Simplified Underwriting DI Plan – Case Study


The Petersen International Simplified Underwriting DI plan is on a roll and needs to be a staple of your product portfolio.  The “own-occupation” defined policy streamlines the underwriting and acquisition of excess disability coverage, saving clients valuable time and money.

After a prospect has been approved for and issued a fully-underwritten disability policy from a “traditional” domestic DI carrier, within 90 days of said purchase, the prospect is then eligible to complete and submit an application for Petersen International’s Simplified Underwriting plan which requires no exams, no labwork and no medical records.

Waiving such requirements of costly paramedical exams, blood draws and urinalyses allows Petersen International to reduce underwriting periods by more than half while passing along additional cost savings to applicants in the form of reduced premiums.

Consider the following example:

Mr. Doe is a partner of a successful, mid-sized San Francisco-based law firm.  He is 53 years old and earns $575,000 annually.  He is in relatively good health and exercises regularly.  His insurance agent was able to get him coverage through a traditional DI carrier on-top of $7,500 per month of group insurance.  The new domestic policy provides him with an additional $15,000 per month “to age 65.”  $22,500 of monthly income protection is great, but still isn’t sufficient for this client’s financial needs considering less than 50% of his income was being covered.

Luckily, his agent is a DI veteran and familiar with the Simplified Underwriting DI plan.  Once the domestic IDI policy was in place, the agent turned to Petersen International for a top-up of coverage.  Using only an application and a copy of the other policy’s declaration page, we were able to quickly provide Mr. Doe with additional comprehensive DI coverage, providing a monthly benefit of $8,600 with a 10-year benefit period.  Mr. Doe now enjoys knowing that 65% of his income is properly protected with disability insurance.   

This program alleviates the hassles and headaches associated with traditional disability insurance underwriting timetables as well as generally lowering rates for those seeking additional layers of income protection in the form of supplemental, excess DI.

Contact our DI department today at (800)345-8816 to get a full walkthrough of the Simplified Underwriting plan.

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