Our firm has developed a proprietary and trademarked underwriting strategy for a specific and significant population segment… the affluent. The affluent client has access to exceptional clinical care when contrasted with the general population, while the mortality assessment community prices risk based upon the general – not the affluent – population. The gap between “actuarial medicine” and “clinical medicine” available to the affluent can be exceptionally wide. Actuarial medicine-based analysis is focused upon the imposing generalities derived from the “law of large numbers” and often times ignores the unique patient facts of the affluent and their ready access to the highest level of clinical care. As such, we recognized a risk assessment paradigm shift… affluent individuals with access to the highest levels of elite clinical care do not fit the “law of large numbers”. They are the exceptions and need to be understood through a different and differentiated process with analysis based upon each individual’s unique circumstance. For in this paradigm, we feel no two individuals are alike.
Our game-changing strategy for addressing this mortality assessment anomaly focuses on amplifying the elite quality of clinical care to distinguish the affluent client from the general population. Our RDU team consults with both the affluent client and their corps of physician care to craft a comprehensive, fact-based case that uncovers uncommon idiosyncrasies and captures its distinct clinical merits. Our RDU underwriters then present the case to premier insurance carriers and personally engage the key decision-makers at each institution one-on-one. The affluent client benefits from an exceptional service experience and receives an unparalleled life insurance pricing outcome; while providing the advisor with a deepened and differentiated relationship with a very important customer.
| Case Details | Face Amount | Before RDU | After RDU |
|---|---|---|---|
| Female, age 70 with Diabetes, TIA Stroke | $2.36M | Declined | Preferred NS, Premium: $307k |
| Male, age 49 with Cardiomyopathy, Sleep Apnea, COPD | $5.0M | Declined | Standard NS, Premium: $69k |
| Male, age 64 with Prostate Cancer | $10.0M | Declined | Standard NS, Premium: $316k |
| Male, age 75 with Immune Deficiency, Melanoma, COPD, Major Depression | $9.0M | Declined | Table 1, Premium: $308k |
It’s a powerful moment when you can say to your client, “you are not a statistic.”
The Time to Start is Immediately
Start early so our RDU experts can consult with your client and their physicians to assess and understand the client’s unique circumstances.
We Leverage Our Relationships with Premier Carriers
Our 25+ years of experience in RDU lets us know which carriers to approach to negotiate the most favorable premium while reducing time-to-approval.
How we determine if RDU is appropriate for your client
1. Understand the Medical
Challenges
At the earliest point, we triage and analyze the unique characteristics of your client’s medical history to determine if the case can benefit.
2. Engage the Client and their Corps of Physicians
We explain the gaps between insurance medicine and clinical medicine with all stakeholders to achieve client buy-in and gain access to the extensive information this strategy requires.
3. Determine Premium Tolerance
Up front, we discuss what premium costs will be acceptable to the client and advisor. The minimum annual premium to initiate RDU is typically $25,000.
4. Explain the Timing
We will explain the sequence of events so the client understands how they can favorably impact the underwriting result and the eventual premium.