The Underwriting Pulse
Assurity Life Insurance Company Vol.1/Issue3― May 2006
Financial underwriting is a critical part of the documentation, which can be as simple as reviewing
underwriting process, no matter what type of copies of pay stubs or as complex as analyzing
coverage is being applied for. One of the purposes of financial statements provided by the proposed
financial underwriting is to prevent anti-selection or insured. The Product Guides are a valuable resource
speculation against the insurance company. Financial when financial documentation is required; refer to the
underwriting guidelines are established to support the underwriting guidelines section. Sending this
insurance company’s goals for profitability and information with the application will expedite the
expense recovery and to prevent excessive losses. underwriting process. When income proof is needed,
the following chart shows some of the more common
The most common types of coverage requiring requests. We may also request additional tax
financial justification are disability income and information or forms if needed, however, copies of
business overhead expense. Part of the underwriting state tax returns are usually not requested.
criteria includes obtaining current income
Business Entity Personal Tax Return Business Return
Employee only W-2 or most recent pay
stubs. (If at current job
less than one year, pay
stubs may be more
Sole Proprietor Form 1040 including
Schedule C (Form 1040
and Schedule F for farmers.)
Owner of a “C” Corporation W-2 and Form 1040 Form 1120, including
Owner of an “S” Corporation W-2 (salary) and Form
1040 with Schedule E, 1120 S and Schedule K-1
Partner of Partnership Form 1040 and Schedule Form 1065 and Schedule
E, Part II K-1
For Agent Use Only. 1
Financial Documents Continued
It is important that we receive the most recent Our chart may not be all-inclusive, but will cover
documentation. Income is usually higher each most applications. You may include copies of tax
successive year, and current documentation places returns, but our approach has been designed to be the
your client in the most favorable position. For self- least intrusive for the majority of your clients.
employed individuals, eligible amounts are based on Financial documentation questions may be directed
net income (which generally is the income after to the Contact Center at 1-800-276-7619 ext 4264.
business expenses are deducted).
I received an email asking to put all cases with in separate emails due to privacy regulations. We
pending requirements on separate emails. Why is cannot put sensitive information for one client into
this? another file. When we do get more than one case in
an email, we have to separate requirements, which
Although we send you a merged pending report, we can delay the process
ask that you list each policy’s pending requirements
If you have a question, please send it via email to UWNewsletter@assurity.com.
For agent use only. 2
New Extranet Information
In January, changes were made to policy Generate Pending Report
information tools on the Extranet. We have received (PDF or Raw XLS)
several inquiries about this. Here is a guide to help • This feature will allow you to see the same report
you more fully understand these changes. received in an email in either PDF or XLS
Pending correspondence summary reports will be Search for a Policy
generated and sent to you by email when: You will be able to see all of the policies down your
• An underwriting requirement added to our hierarchy that are associated with you.
reporting system has not been met. • Once the desired criteria is entered and the button
• A requirement has not been met by 20 days, labeled “Search” is selected, the screen will
40 days, 60 days and 80 days after it was display those polices matching the criteria.
entered in our LifePro system. • By clicking on any item in the desired row you
Suppression and Agent Controls Mailed Date – A new feature not previously
You can customize email settings and report available.
formats. If desired, you may suppress your Contract Status – New expanded status is
automated emails. displayed. For example, instead of “Pending,”
• You can customize your subscriptions by the status now shows Pending - Submitted.
filling in email addresses for Underwriting Issued – This date will only be populated if the
(ICS), Sales (SCS), Marketing (News) and policy is active.
Commissions/ Accounting. Email home office button – You can use this to
• You can choose between PDF and Microsoft send an email directly to our Contact Center.
Excel for the format of your email reports. Policy and identifying information are
automatically entered – you just compose and
Policy Information Report type in your question.
A new Policy Information Report will include
information from the Policy Activity report. Display Recent Policy Activity
This report will show all policies pending, terminated,
suspended or activated within the last 60 days.
For agent use only. 3
Information Requests: What we need to underwrite an application
Our underwriters often need additional information to AVOC QUEST/MED QUEST/ MLY
make decisions about applications. These requests QUEST/TOB QUEST – additional questionnaires
will generally be sent through our ICS system, and
you will receive an email about the additional POLICY ISSUE
requests. The following lists describe some of the Items that you will see when a policy is ready to be
more common requests you will see, along with a issued.
brief explanation of what the item is.
CASE APP – The case has been approved by an
GENERAL UNDERWRITING underwriter.
REQUIREMENTS APD CHGS – The case has been approved but with
These are items that are either ordered on every some changes.
product or on certain products, depending on SPL CLS – The case has been issued on a special
coverage amounts. These include medical and class basis which means a table rating.
MIB – medical information Items will need to be signed and/or returned to us in
ScriptCheck – prescriptions the insured may have order to have the policy activated.
PARAMED – paramedical exam AMD APP – amendment to the application
BLOOD PR/SMA – blood profile BAL PREM – initial or balance of initial premium
HOS – urinalysis E-1A – policy amendment rider (exclusion form)
TELE INT – telephone interview POL DEL/DC-64 – delivery certificates depending
APS – attending physician’s statement on product and state
W2/TAX RTNS/PAY STUBS – tax information and SIGN ILLUS – signed illustration required on fully
pay stubs to verify income underwritten whole life cases
AUTH – HIPAA-compliant medical release PAC/VD CK – signed PAC authorization and voided
MVR – motor vehicle record STE HLTH – statement of good health
REPL FRM – replacement forms required if ORIG POL – original policy required for reissues
intending to replace a policy
UND CORR – underwriting correspondence
detailing additional information needed
For agent use only. 4
To assist in having your calls, faxes and emails routed to the proper location, refer to these important numbers:
All Assurity departments can be reached at: 1-800-276-7619
Underwriting Contact Center: ext. 4264
Fax numbers: 402-437-4606 (pending requirements)
402-437-4591 (new applications)
Brokerage Sales: ext. 4275 Employer Unit: ext. 4210
Fax number: 402-437-3404 Fax number: 402-437-3886
Email: BrokerageSales@assurity.com Email:
Client Services: ext. 4279 Contracting: ext. 4689
Fax number: 402-437-4658 Fax number: 402-437-4640
Email: ClientServices@assurity.com Email: Contracting@assurity.com
Commissions: ext. 4427 Help Desk: ext. 4333
Fax number: 402-437-4558 Fax number: 402-437-3810
Email: LJimenez@assurity.com Email: HelpDesk@assurity.com
Claims: ext. 4484 Supplies: ext. 4447
Fax number: 402-437-4592 Fax number: 402-437-4590
Email: NewClaims@assurity.com Email: Supplies@assurity.com
Overnight Mailing: General Mailing:
Assurity Life Insurance Company Assurity Life Insurance Company
1526 K Street PO Box 82533
Lincoln, NE 68508 Lincoln, NE 68501-2533
Newsletter Committee Members
Jane Ahl Melanie Glinsmann Christy Snelling
Kim Bowman Renae Logan Carol Thompson
Sarah Floyd Bruce McKeag
For Agent Use Only. 5