UNDERWRITING OVERVIEW

Transcription

1 UNDERWRITING OVERVIEW Y O U R R E F E R E N C E G U I D E T O C U R R E N T P R U D E N T I A L U N D E R W R I T I N G TABLE OF CONTENTS Preferred and Impaired Risks...2 Exceptional Capacity... Build Table... Give your clients Credit... Foreign Travel Guidelines... Non-U.S. Foreign Residence Guidelines... 5 Preferred UW Categories & Criteria...6 Age and Amount Requirements Ed. 06/200 Exp. 2/20

2 AND IMPAIRED RISKS Some categories of individuals who may qualify for Preferred Underwriting: Most commercial pilots for US based airlines Clients who plan travel most foreign countries for months or less annually (business or pleasure),2 Scuba divers who dive up 00 feet Individuals with cholesterol levels up and including 29, even if on cholesterol lowering medications, Male/Female 6'0", ages 8-6, up 2 pounds Male/Female 6'0", ages 65 and over, up 228 pounds Some categories of individuals who may qualify for our advantageous Non-Smoker Plus ratings: Cigar/pipe smokers and smokeless bacco users Nicotine patch or Nicorette Gum users Individuals with cholesterol levels up and including 27 Male/Female 6'0", ages 8-6, up 2 pounds Male/Female 6'0", ages 65 and over, up 29 pounds Private pilots 25 years of age or greater with more than 00 hours in tal flight time and between 0 and 00 hours per year. We look for the best possible impaired risk treatment for clients with the following impairments. Breast Cancer Bladder Cancer Coronary Artery Disease Diabetes Mellitus (Adult onset) Asthma Mood Disorders Prostate Cancer cases Hepatitis C Build Elevated liver function tests And that s not all... Age last birthday rates! (not nearest) Full commissions on special class ratings; partial on temporary extra ratings (Subject Commissionable Target Premiums [CTP]) No MD exam below $0,000,000 for clients under age 7 (Paramedic exam may be required) Treadmill ECG testing is NOT aumatically required! No Inspection Reports No Chest X-Ray Popular Rx for Success newsletter now available on and PruLife Links Working Document Medical Underwriting Manual regularly updated We now accept insurance exams up six months These scenarios could qualify for Preferred Best as well. 2 This does not apply foreign countries Prudential considers be extremely hazardous. Individuals with cholesterol levels up 29 may qualify for Preferred Best, even if on cholesterol lowering medications. Age 0-70 MD exam required at face amounts of $0,000,000 and above, age 7 and over at face amounts of $2,500,000 and above. 2

3 EXCEPTIONAL CAPACITY At Prudential, our retention limit is up $0 million on fully underwritten single-life policies, and up $5 million on second--die policies. These limits enable Prudential issue polices up $65 million for most single-life and second--die life insurance products. Those retention limits are likely the highest you ll find anywhere. Ready and able handle your large cases quickly Prudential can aumatically issue a single life insurance policy up $65 million without having delay the process by discussing the risk with reinsurers. and go beyond when you need us. For cases that exceed $65 million, we have facultative relationships with most of the major reinsurers. Prudential s retention limits $0 million Single-life policies $5 million Second--die policies Prudential s aumatic issue limit Most Single-life and $65 million Second--die policies Plus, Pru can now offer an additional $5 million of facultative capacity as a result of being a participant in the SuperPool SM established by a major reinsurance company. Come Prudential first. Learn more about the ways Prudential s retention limits and high aumatic issue limits make us an ideal choice for your larger cases. GIVE YOUR CLIENTS CREDIT Prudential Financial continues be competitive in impaired risk underwriting. In an effort maintain our competitiveness, Prudential expands its reperire of underwriting credits. Underwriting credits are available for any face amount, for any issue age, for any product and for any table rating. Credits are also available for smokers and non-smokers and are designed apply far more of the business you submit us and therefore generate more placed cases. Crediting decisions are evidence-based decisions, using underwriting credits offset like debits, based on test results, or other favorable criteria, specific a given applicant. For example, we may use treadmill credits offset overweight and blood pressure debits; or good blood sugar control offset debits for diabetes. The result can be improvement on a standard or substandard offer, or possibly even improvement from a low substandard offer a preferred nonsmoker offer. There are more than two dozen impairments eligible for credits. Eligible impairments include: Build, Cancer, Coronary Disease, Diabetes, Hypertension, Anxiety Disorders, High Cholesterol and Elevated LFTs. Credits are also provided for new and innovative testing such as Electron Beam Computed Tomography (EBCT). Refer Make the Most of Prudential s Underwriting Credit Opportunities for more information. BUILD TABLE PHYSICAL MEASUREMENTS The following chart indicates the maximum weight per height for the specified underwriting category. (weight in LBS) AGES 8-6 BEST NON- TOBACCO SMOKER NON- SMOKER PLUS AGES 65 AND OVER BEST NON- TOBACCO SMOKER NON- SMOKER PLUS '0" '" '0" '" '2" '" '" '5" '6" '7" '8" '9" '0" '" '0" '" '2" '" '" '5" '6" '7" '8" '9" '0"

4 FOREIGN TRAVEL GUIDELINES The chart below indicates whether or not a life insurance application will be accepted for applicants who travel the countries listed. These guidelines are based on analysis of government and travel services and industry data and may change depending on current conditions in the country. Guidelines may also vary depending on the application state. For countries not shown below, contact Underwriting. Afghanistan Congo Hungary Montserrat Albania Congo, Democratic Republic of the Iceland Morocco Somalia Algeria Cook Islands India Mozambique South Africa American Samoa Costa Rica Indonesia Namibia South Korea Andorra Croatia Iran Nauru Spain Angola Cuba Iraq Nepal Sri Lanka Anguilla Curacao (Netherlands Antillies) Ireland Netherlands St. Kitts & Nevis Antigua & Barbuda Cyprus Israel2 Netherlands Antilles St. Lucia Argentina Czech Republic Italy New Caledonia St. Maarten (Netherlands Antillies) Armenia Denmark Ivory Coast (Cote D'Ivoire) New Zealand St. Martin (Guadeloupe) Aruba Djibouti Jamaica Nicaragua St. Vincent & the Grenadines Australia Dominica Japan Niger Sudan Austria Dominican Republic Jordan Nigeria Suriname Azerbaijan East Timor Kazakhstan Niue Swaziland Bahamas Ecuador Kenya North Korea Sweden Bahrain Egypt Kiribati Northern Ireland Switzerland Bangladesh El Salvador Kosovo (Serbia) Northern Marianas Islands Syria Barbados England Kryqyzstan (Kyrgyz Republic) Norway Taiwan Belarus (Beylorussia) Equarial Guinea Kuwait Oman Tajikistan Belgium Eritrea Laos Pakistan Tanzania Belize Esnia Latvia Palau Thailand Benin Ethiopia Lebanon Panama Togo Bermuda Falkland Islands Lesotho Papua New Guinea Tonga Bhutan Fiji Liberia Paraguay Trinidad & Tobago Bolivia Finland Libya Peru Tunisia Bosnia & Herzegovina France Liechtenstein Philippines Turkey Botswana French Guiana Lithuania Poland Turkmenistan Brazil French Polynesia Luxembourg Portugal Turks & Caicos Islands British Virgin Islands Gabon Macau Puer Rico Tuvalu Brunei Gambia Macedonia Qatar U.S. Virgin Islands Bulgaria Gaza Strip (Palestine) Madagascar Romania Uganda Burkina Faso Georgia Malawi Russia Ukraine Burma (Myanmar) Germany Malaysia Rwanda United Arab Emirates Burundi Ghana Maldives Samoa United Kingdom Cambodia Greece Mali Saipan Uruguay Cameroon Greenland Malta San Marino Uzbekistan Canada Grenada Marshall Islands Sao Tome and Principe Vanuatu Canary Islands Guadeloupe Martinique Saudi Arabia Vatican City Cape Verde Guam Mauritania Scotland Venezuela Cayman Islands Guatemala Mauritius Senegal Vietnam Central African Republic Guinea Mexico Serbia Wales Chad Guinea Bissau Micronesia, Federated States of Seychelles West Bank (Palestine) Chile Guyana Moldova Sierra Leone Western Sahara China Haiti Monaco Singapore Yemen Colombia Honduras Mongolia Slovakia Zambia Comoros Hong Kong Montenegro Slovenia Zimbabwe Solomon Islands Specified regions in the following countries are considered Unacceptable : Algeria Southeast Algeria (Sahara Desert regions examples of cities in this region would be Ouargla and Tamanrasset) Nigeria The Niger Delta region, consisting of the Delta and Rivers states. Philippines Mindanao and Sulu Archipelago 2 See also Gaza Strip, West Bank. All areas of the West Bank & Gaza Strip are considered Unacceptable. Major cities include Gaza City, Hebron, Bethlehem, Jericho & Nablus United Kingdom consists of England, Wales, Scotland and Northern Ireland. Northern Ireland includes the counties of Tyrone, Fermanagh, Armagh, Dacon, Antrim and Londonderry (also referred as Derry) with the two principal cities of Belfast and Londonderry (Derry).

5 NON-U.S. FOREIGN RESIDENCE GUIDELINES The ratings assigned are based on analysis of government and travel services and industry data and may change depending on current conditions in the country. Guidelines may also vary depending on the application state. For countries not shown below, contact Underwriting. Acceptable for Residence Preferred Best available Acceptable for Residence Non-Smoker Plus available Blue Prohibited Sales due countries insurance regulations. Unacceptable for Residence Afghanistan Central African Republic Ghana Lithuania Pakistan Sudan2 Albania Chad Greece Luxembourg Palau Suriname Algeria Chile Greenland Macau Panama Swaziland American Samoa China Grenada Macedonia Papua New Guinea Sweden Andorra Colombia Guadeloupe Madagascar Paraguay Switzerland Angola Comoros Guam Malawi Peru Syria2 Anguilla Congo Guatemala Malaysia Philippines Taiwan Congo, Dem. Rep. of the2 Guinea Maldives Poland Tajikistan Portugal Tanzania Thailand Antigua & Barbuda Argentina Cook Islands Guinea Bissau Mali Armenia Costa Rica Guyana Malta Puer Rico Aruba Croatia Haiti Marshall Islands Qatar Togo Australia Cuba2 Honduras Martinique Romania Tonga Austria Curacao (Netherlands Antillies) Hong Kong Mauritania Russia Trinidad & Tobago Azerbaijan Hungary Mauritius Rwanda Tunisia Bahamas Cyprus Iceland Mexico Saipan Turkey Bahrain Czech Republic India Turkmenistan Denmark Indonesia Micronesia, Federated States of Samoa Bangladesh San Marino Barbados Djibouti Iran2 Moldova Sao Tome and Principe Turkisk Repulic of Northern Cyprus AKA TRNC Belarus (Beylorussia)2 Dominica Iraq Monaco Saudi Arabia Turks & Caicos Islands Belgium Dominican Republic Ireland Mongolia Scotland5 Tuvalu Belize East Timor Israel Montenegro Senegal U.S. Virgin Islands Uganda Benin Ecuador Italy Montserrat Serbia Bermuda Egypt Ivory Coast (Cote D Ivoire) Morocco Seychelles Ukraine Bhutan El Salvador Jamaica Mozambique Sierra Leone United Arab Emirates Bolivia England5 Japan Namibia Singapore United Kingdom5 Bosnia & Herzegovina Equarial Guinea Jordan Nauru Slovakia Uruguay Slovenia Uzbekistan Solomon Islands Vanuatu Botswana Eritrea Kazakhstan Nepal Brazil Esnia Kenya Netherlands British Virgin Islands Ethiopia Kiribati Netherlands Antilles Somalia Vatican City Brunei Falkland Islands Kosovo (Serbia) New Caledonia South Africa Venezuela South Korea Vietnam Nicaragua Spain Wales5 Bulgaria Fiji Burkina Faso Finland Kryqyzstan (Kyrgyz Republic) New Zealand Burma (Myanmar)2 France Kuwait Niger Sri Lanka West Bank (Palestine) Burundi French Guiana Laos Nigeria St. Kitts & Nevis Western Sahara Cambodia French Polynesia Latvia Niue St. Lucia Yemen Cameroon Gabon Lebanon North Korea2 Zambia Canada Gambia Lesotho Northern Ireland5 St. Maarten (Netherlands Antillies) Canary Islands Gaza Strip (Palestine)2 Liberia Northern Marianas Islands St. Martin (Guadeloupe) St. Vincent & the Grenadines Cape Verde Georgia Libya Norway Cayman Islands Germany Liechtenstein Oman Zimbabwe The insurance regulations of some countries prevent their residents from purchasing life insurance outside their country of residence. Blue text siginifies that sales prohibited due insurance regulations. For more detail please contact your Prudential Wholesaler. 2 OFAC: U.S. government restrictions prohibit life insurance sales residents of these countries. Due Canadian regulations available products are limited UL (Plus and Protecr), SUL (Protecr), and Term (Essential, Elite and Return of Premium). Specific regions in the following countries are rated different than the remainder of the country: China Modern cities comparable those in the West (e.g. Beijing, Chongqing, Guangzhou, Shanghai, Shenyang & Tianjin) are considered B regions with the balance of the country a C region. India Residents and travelers India will be considered depending on the region/city: Bangalore, Calcutta, Chennai, Delhi, Hyderabad, Mangalore, Mumbai and Surat are considered B regions with the balance of the country a C region. Philippines Metro Manila will be considered a B region with the balance of the country a C region. Turkey Istanbul & Ankara will be considered B regions with the balance of the country a C region. 5 United Kingdom consists of England, Wales, Scotland and Northern Ireland. Northern Ireland includes the counties of Tyrone, Fermanagh, Armagh, Dacon, Antrim and Londonderry (also referred as Derry) with the two principal cities of Belfast and Londonderry (Derry). 5

6 UNDERWRITING CATEGORIES & CRITERIA NON-SMOKER CATEGORIES SMOKER CATEGORIES Smoking Blood Pressure Cholesterol Physical Measurements (Height and Weight) Family Hisry Personal Hisry Alcohol/Drug Driving Record Occupation Avocation Aviation Residence BEST NON-TOBACCO NON-SMOKER PLUS NON-SMOKER SMOKER SMOKER No bacco or nicotine use within the last 5 years. Up 0/80 for ages up 9 Up 5/85 for ages 50 and over Without medication Under 220 Cholesterol/HDL ratio 5 or less Weight must be within acceptable limits per Physical Measurements (Build Table). No death of a parent or sibling prior age 60 due : Cerebrovascular Disease (CVD) Cancer No personal hisry of: Diabetes Mellitus Cancer (except skin cancer, excluding melanoma) Hepatitis C Glucose Inlerance No hisry of alcohol/drug abuse or treatment and no current drug use. No DWI, OUI, DUI or reckless driving within the last 5 years. No license suspension within last years. No more than citation for moving violation or mor vehicle accident within last years. No hazardous duties (e.g. bridge builders, jockeys). No hazardous activities (e.g. aumobile or morcycle racing, sky diving, scuba diving, bungee jumping). No ratable aviation activities Current valid pilot certificates: - Private - Commercial - ATP Minimum age is 0 Minimum of 5 year aviation hisry as a certificated pilot No FAA violations Minimum of 00 hours of flight time in their current aircraft Valid medical certificate without restrictions or special issuance (other than requiring the use of corrective lenses) Fixed wing, powered aircraft flights only Full time, permanent resident of the U.S., Canada or "A"countries. No bacco or nicotine use within the last years. Up 5/85 for ages up 9 Up 0/90 for ages 50 and over Under 250 Cholesterol/HDL ratio 6 or less Weight must be within acceptable limits per Physical Measurements (Build Table). No more than one death of a parent prior age 60 due : Cerebrovascular Disease (CVD) Cancer No personal hisry of: Diabetes Mellitus Cancer (except skin cancer, excluding melanoma) Glucose Inlerance No hisry of alcohol/drug abuse or treatment within the last 0 years and no current drug use. No DWI, OUI, DUI or reckless driving within the last 5 years. No license suspension within last years. No more than 2 citations for moving violation or mor vehicle accident within last years. No hazardous duties (e.g. bridge builders, jockeys). No cigarettes within the last 2 months (may smoke cigars, pipe or chew bacco). Up 0/90 for ages up 9 Up 5/90 for ages 50 and over Under 275 Cholesterol/HDL ratio 7 or less Weight must be within acceptable limits per Physical Measurements (Build Table). No cigarettes within the last 2 months (may smoke cigars, pipe or chew bacco). actual blood pressure readings and other medical conditions. cholesterol levels and other medical conditions. actual weight and other medical conditions. Currently smokes cigarettes or smoked cigarettes within the last 2 months. Up 5/85 for ages up 9 Up 0/90 for ages 50 and over Under 250 Cholesterol/HDL ratio under 6 Weight must be within acceptable limits per Physical Measurements (Build Table). Not applicable. Not applicable. No more than one death of a parent prior age 60 due : Cerebrovascular Disease (CVD) Cancer Actual medical hisry will be evaluated determine qualification for this class. Personal hisry requiring a rating not permitted. Actual alcohol/drug hisry will be evaluated determine qualification for this class. Hisry requiring a rating not permitted. Actual driving hisry will be evaluated determine qualification for this class. Driving record requiring a rating not permitted. No hazardous duties (e.g. bridge builders, jockeys). No ratable activities. No activities Occupation Ratings available for that preclude including ADB (i.e. avocation. drag racing at speeds over 20mph, scuba diving 0-0 feet with Basic Open Water Certification). No ratable aviation activities Current valid pilot certificates: - Private - Commercial - ATP Minimum age is 0 Minimum of 5 year aviation hisry as a certificated pilot No FAA violations for the past 5 years Minimum of 00 hours of flight time in their current aircraft Valid medical certificate Full time, permanent resident of the U.S., Canada or "A"countries. No ratable aviation activities Current valid pilot certificates: - Private - Commercial - ATP Minimum age is 25 Minimum of year aviation hisry as a certificated pilot No FAA violations for the past years Valid medical certificate Available residents of "A" & "B" countries Some medical conditions may be rated. Insurability and ratings depend on facrs such as the specific condition and severity of the condition. Some drug/alcohol hisries may be rated. Insurability and ratings depend on facrs such as the substances used, the quantities used, and how recent the hisry was. May be rated depending on actual driving hisry. Insurability and ratings depend on the actual driving record. Hazardous duties may be acceptable with ratings. Insurability and ratings depend on actual occupations. Occupation Ratings available for avocation. actual aviation activities. Available residents of "A" & "B" countries No personal hisry of: Diabetes Mellitus Cancer (except skin cancer, excluding melanoma) Glucose Inlerance No hisry of alcohol/drug abuse or treatment within the last 0 years and no current drug use. No DWI, OUI, DUI or reckless driving within the last 5 years. No license suspension within last years. No more than 2 citations for moving violation or mor vehicle accident within last years. No hazardous duties (e.g. bridge builders, jockeys). Currently smokes cigarettes or smoked cigarettes within the last 2 months. actual blood pressure readings and other medical conditions. cholesterol levels and other medical conditions. actual weight and other medical conditions. Not applicable. Some medical conditions may be rated. Insurability and ratings depend on facrs such as the specific condition and severity of the condition. Some drug/alcohol hisries may be rated. Insurability and ratings depend on facrs such as the substances used, the quantities used, and how recent the hisry was. May be rated depending on actual driving hisry. Insurability and ratings depend on the actual driving record. Hazardous duties may be acceptable with ratings. Insurability and ratings depend on actual occupations. No ratable activities. No activities Occupation Ratings available for that preclude including ADB (i.e. avocation. drag racing at speeds over 20mph, scuba diving 0-0 feet with Basic Open Water Certification). No private piloting or ratable business or military flying. Full time, permanent resident of the U.S., Canada or "A"countries. actual aviation activities. Available residents of "A" & "B" countries Rating No Occupation, Aviation or Temporary Extra, no substandard ratings of any kind. No Occupation, Aviation or Temporary Extra, no substandard ratings of any kind. Occupational Extras may be permitted for travel or avocation only. Substandard Rating Classes A-H (A-S for survivorship), Occupation Extras, Aviation Extras and Temporary Extras permitted. No Occupation, Aviation or Temporary Extra, no substandard ratings of any kind. Substandard Rating Classes A-H (A-S for survivorship), Occupation Extras, Aviation Extras and Temporary Extras permitted. We disregard family hisry if the proposed insured is age 60 and older, or if adopted. For family hisry of cancer we only consider: colon, breast, ovarian, melonoma, prostate, pancreas, smach.. 6

7 AGE AND AMOUNT REQUIREMENTS The guidelines in the chart below apply the amount applied for and any amount applied for in the past two years. For Survivorship coverage: Requirements are based on 50% of the face amount applied for, along with 50% of the rider. AGE $25,000 $25,00 $9,999 $50,000 $50,00 $59,999 $60,000 $99,999 $00,000 $29,999 $250,000 $99,999 $500,000 $999,999 $,000,000 $2,99,999 $2,500,000 $2,500,00 $9,999,999 $0,000,000 and up 0 NONE NONE NONE NONE NONE NONE NONE APS APS APS APS APS 5 7 NONE NONE NONE NONE NONE NONE NONE APS APS, APS, APS, APS, 8 0 NONE NONE NONE UHIV(DC) UHIV in (CA, NJ, NY, FL, TX, DC), MVR, MVR, MVR, MVR, MVR, MVR, MVR 5 NONE NONE NONE,, UHIV in 6 50 NONE,, UHIV in, 5 6,, UHIV in, 65 70,, UHIV in 7 75,, UHIV in Over 75** APS, ECG APS, ECG APS, ECG, APS, ECG,, APS, ECG,, UHIV in APS,, MVR APS,, MVR APS,, MVR APS,, MVR APS,, MVR APS,, ECG, MVR APS,, ECG, MVR, Requirements Legend Examiner is a paramed, not an MD. S/he weighs & measures the proposed insured, takes blood pressure & pulse. Modified Exam required for submissions via Express Worksheet. Tele-Underwriting Interview obtains the Part 2 Medical Declarations. Full MD Exams required, for submissions via paper application. Part 2 Medical Declarations are obtained by the examiner. Examiner is an MD. S/he weighs & measures the proposed insured, takes blood pressure and pulse. The docr also listens the proposed insured's heart & lungs, checks the eyes and other areas of the body, may notate scars, etc. Full MD Exam is always required, regardless of the submission method. Part 2 Medical Declarations are obtained by the docr examining the proposed insured. MD APS ECG UHIV MVR MEDICAL REQUIREMENTS Attending Physician Statement*** Electrocardiogram Insurance Risk Profile (Comprehensive Blood and Urine Panel) Urine HIV Testing - Examiner collected urine specimen for states listed above for HIV testing Urine Specimen Mor Vehicle Report DATA REQUIREMENTS (Prudential order when required) Required for all ages: PADR (Prudential Aumated Database Report) Face amount: $250,000-99,999 for Traditional Paper Application submissions Face amount: $500, ,999 for Tele-Underwriting Worksheet submissions DVR (Data Verification Report) Face amount: > $99,999 for Traditional Paper Application submissions Face amount: > $999,999 for Tele-Underwriting Worksheet submissions In addition the lab slip, please submit any required state specific HIV consent form. The age and amount requirements apply products with Preferred Underwriting categories. Data verification reports and requirements, paramed exam limits and procedures apply all Life Products. Minimum face amount for individuals over age 80 is $250,000. Exceptions $200,000 may be permitted call the Underwriter. Minimum face for ages is $00,000. **Minimum face amounts: Ages 76-80: $00,000; Ages >80: $250,000. (Face amounts of $200,000 may be considered as an exception - contact underwriting.) ***Brokerage, please refer Attending Physician's Statement Requirement Guide ( ) for additional APS requirements.. 7

8 This material is designed provide general information in regard the subject matter covered. It should be used with the understanding that we are not rendering legal, accounting or tax advice. Such services should be provided by the client s own advisor. Accordingly, any information in this document cannot be used by any taxpayer for purposes of avoiding penalties under the Internal Revenue Code. Securities and Insurance Products: Not Insured by FDIC or Any Federal Government Agency. May Lose Value. Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate The Prudential Insurance Company of America, 75 Broad Street, Newark, NJ ALL RIGHTS RESERVED Ed. 06/200 Exp. 2/20