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FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 1 Underwriting Update Natalie Bergstrom Director of Underwriting FOR PRODUCER USE ONLY - NOT.

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Presentation on theme: "FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 1 Underwriting Update Natalie Bergstrom Director of Underwriting FOR PRODUCER USE ONLY - NOT."— Presentation transcript:

1 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 1 Underwriting Update Natalie Bergstrom Director of Underwriting FOR PRODUCER USE ONLY - NOT FOR DISSEMINATION TO THE PUBLIC.

2 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 2 Agenda Focused Underwriting Teams Liberalized Standard Plus Competitive Underwriting Programs Improved International Underwriting Recent Changes and Enhancements Underwriting Playbook

3 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 3 UW Teams Focused on You New Business Service Specialist One Team for All Your Underwriting ExpressConciergeRelationship Transactional Term Leverage Automation Term to Age 55 and $1,000,000 Face Transactional Term Leverage Automation Term to Age 55 and $1,000,000 Face All non-Concierge and non-Express Business $15,000 Premium or $3,500,000 Face $15,000 Premium or $3,500,000 Face Informals

4 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 4 Teaming with AG Sales Confirm informal receipt Offers followed up Goals: 1)More comprehensive service 2)More placed cases Improved Communication on Informals

5 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 5 Two Standard Classes Standard Plus Standard NonTobacco (including up to Table B)

6 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 6 What does Standard Plus look like? None in the last 12 months Tobacco Use Up to 250 with ratio of 7.0 Up to 280 with ratio of 6.5 Up to 250 with ratio of 7.0 Up to 280 with ratio of 6.5 Cholesterol & HDL Ratio Ages 0-60: Up to 150/92 Ages 61+: Up to 160/92 Ages 0-60: Up to 150/92 Ages 61+: Up to 160/92 Untreated Blood Pressure Up to 228 pounds Weight at 510 2 moving violations in the last 3 years No DUI/Reckless driving in 5 years 2 moving violations in the last 3 years No DUI/Reckless driving in 5 years MVR < Age 66: 1 parent death from heart disease or cancer prior to age 60 Age 66+: N/A < Age 66: 1 parent death from heart disease or cancer prior to age 60 Age 66+: N/A Family History Liberalize d! New!

7 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 7 What does Standard Plus look like? 1 Peer competitors and their GUL products are: John Hancock UL-G, ING Guaranteed DB UL II, Lincoln LifeGuarantee® UL (2009), Transamerica TransACE® and MetLife Guarantee Advantage UL SM 2 John Hancock UL-G is at Standard Plus, all others are at Standard Nontobacco Joe Age:50 Height:6 feet Weight: 240 lbs Needs:$1 million of life insurance Product: AG Secure Lifetime GUL ® Standard Plus Annual Premium$10,558 Average of our peer competitors 1,2 $11,716 An annual savings of:9.88% Build Liberalized

8 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 8 What does Standard Plus look like? 1 Peer competitors and their GUL products are: John Hancock UL-G, ING Guaranteed DB UL II, Lincoln LifeGuarantee® UL (2009), Transamerica TransACE® and MetLife Guarantee Advantage UL SM 2 John Hancock UL-G is at Standard Plus, all others are at Standard Nontobacco David Age:55 Tobacco:Quit one year ago Needs:$1 million of life insurance Product: AG Secure Lifetime GUL Standard Plus Annual Premium$14,210 Average of our peer competitors 1,2 $15,362 An annual savings of:7.50% Liberalized Tobacco Use

9 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 9 Programs to Improve Underwriting Offers Help your clients get an upgrade on their rating Better Choice Preferred Preferred Offsets Healthy Credits

10 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 10 Better Choice Preferred Many impairments can still get BEST CLASS Asthma Anxiety Depression Sleep Apnea Arrhythmia Epilepsy Crohns Liver Enzymes

11 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 11 Preferred Offsets Offsets for: Build Family History Cholesterol Example: 10 - 12 pounds over can get BEST CLASS

12 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 12 Healthy Credits 1 Table or 1 Preferred Class upgrade 4 out of 16 Healthy Credits can improve a case All Products Ages 41 – 70 Face Amounts Through $60 million

13 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 13 Certain Healthy Credits vary by age and credits may not be available for test performed on younger individuals. Healthy Credits may have additional time frame criteria required before they can be used to improve a rating. Possible Healthy Credits

14 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 14 Case Study Age: 60 Needs: $20 million AG Secure Lifetime GUL History: Family History and Crohns disease 1) Better Choice Preferred Move to Standard Plus 2) Preferred Offsets Move to Preferred NT 3) Healthy Credits Move to Preferred Plus Standard Rate: $402,362 Preferred Plus Rate: $206,651 Savings: $195,711 Bill 49% Savings

15 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 15 International Underwriting Its a Small World

16 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 16 Foreign Travel Best Class for up to 8 weeks of travel to more than 200 countries around the globe. Includes destinations in Asia, Africa, Central and South America, and the Middle East.

17 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 17 Foreign Nationals 48 Approved Countries Foreign Nationals and Visa Holders Examples include: Argentina, Brazil, Colombia, China, Hong Kong, Mexico and Venezuela

18 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 18 Foreign Nationals Approved Countries* A Argentina Australia Belgium Brazil Canada Chile Costa Rica Ecuador France Germany Hong Kong Italy Panama Peru Poland Singapore South Korea Spain Switzerland Taiwan UAE United Kingdom Uruguay B China Dom Republic India Israel Jamaica Malaysia Mexico Malaysia Philippines Russia South Africa Turkey CHondurasSaudi ArabiaVenezuelaVietnam DColombia * See Foreign National Guidelines for a complete listing

19 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 19 Foreign Nationals Rate Class & Coverage Amounts Country Code Rate Class Coverage Amount* TermPermanent ABest Class$3,500,000$10,000,000 BStandard Plus$3,500,000$10,000,000 CStd Plus and $2/1000$3,500,000 DStd Plus and $3/1000$2,000,000 * Additional coverage may be available through reinsurance

20 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 20 Recent Underwriting Changes Fewer Financial Questionnaires FQ no longer required through $3 million (ages 18-70) Replaced the Expanded FQ with the shorter FQ Fewer Inspection Reports IR no longer required through $5million (ages 18-55) Fewer MD Exams No longer required at ages 71+ until over $1 million We can still use a Paramed and a recent APS information in lieu of an MD exam for any age or face Added Tax Transcripts (4506T-EZ)

21 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 21 Tax Transcripts (4506T-EZ) Routine in the banking and mortgage business Growing trend in Life Insurance Quick and Easy One-page form 48 hour turnaround time Limits: Over $1,000,000 for ages 18-66 Over $500,000 for ages 67+ Allow us to maintain competitive premiums and reduce Inspection Reports and Financial Questionnaires

22 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 22 Other Important Enhancements Elevated Hemoglobin A1C Possible Standard on A1C < 6.4 Use Telephone Interviews to reduce APS orders on: Sleep Apnea Rx Clarify Asthma Seizures Arthritis Colitis Drug/Alcohol Bariatric Surgery Ignore Gender-Specific Cancer Family History Example: Male client / Mother died from Uterine Cancer Ignore All Family History over age 65 22

23 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 23 One Stop Shop UW Playbook

24 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 24

25 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 25 Field Underwriting Guide Updated!

26 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 26 Underwriting Impairment Library

27 FOR PRODUCER USE ONLY – NOT FOR DISSEMINATION TO THE PUBLIC. 27 Important Information Policies issued by: American General Life Insurance Company (AGL) 2727-A Allen Parkway, Houston, TX 77019 AG Secure Lifetime GUL Policy Form Numbers 10460, ICC-10460 The United States Life Insurance Company in the City of New York (USL) One World Financial Center, 200 Liberty Street, New York, NY 10281 AG Secure Lifetime GUL Policy Form Number 10460N The underwriting risks, financial and contractual obligations and support functions associated with the products issued by AGL or USL are the issuing insurers responsibility. Guarantees are subject to the claims-paying ability of the issuing insurance company. USL is authorized to conduct insurance business in New York. Policies and riders not available in all states. American General Life Companies, www.americangeneral.com, is the marketing name for a group of affiliated domestic life insurers, including AGL and USL. ©2012. All rights reserved. AGLC106258


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