Understanding the disability income (DI) application process is key to paving the way to a good experience for your client. When you know what to expect, you can prepare your clients, so they won’t be surprised or put off by unexpected steps in the DI application and underwriting process.
Discussion Topics for your DI Clients
As you begin your discussions with clients, here are some discussion topics that will help you and your client gather information for the DI application:
- Occupation
- Your client’s occupation and duties at work.
- If self-employed, for how long
- If a business owner, percent of business owned by the client, and the number of employees.
- Health
- Use of tobacco products
- Client’s height and weight
- The clients taxable earned income for the current and past year
- For business owners, carriers look at net income after expenses, net profit of proprietorship, etc.
- For non-owner employees, carriers consider gross income
- Significant health history including long-term treatment, hospitalization or surgery
- Medications currently taking
- Antidepressant or anxiety medications
- Income
- Other Disability Insurance
- Existing group or individual disability income, or pending applications for DI.
What to expect during the disability income application process:
We encourage brokers to embrace TeleApplications. The broker and client complete general information on the applications, and submit it to your Source Brokerage disability specialist. One of our case managers will order a personal history interview with a highly trained interviewer, who will ask the client about specific details regarding his or her medical and financial information.
You and your client will complete the TeleApp and submit the following financial and medical documentation to your Source Brokerage DI specialist:
- The teleapp application includes questions about the type of disability income coverage for which the client is applying; other disability income coverage client has in force; employment status; occupational duties; and, health history.
- In addition, some applications may require lab tests and an exam, which the broker will schedule.
- To determine and verify the monthly benefit, proof of income will be required, such as W-2s, pay stubs, or income tax returns.
Here’s what your clients can expect during the disability underwriting process:
Once Source Brokerage receives the application and financial and medical documentation, our case manager will review the application and order a personal history interview. Our case managers send you regular communication regarding the underwriting status of the application and any additional requirements needed.
During the personal history interview, clients will answer questions about their activities or health habits, employment and income, and medical history.
Each set of questions should only take a few minutes, and your client’s answers to the questions remain private and secure.
Here’s some suggestions to help clients prepare for the telephone personal history interview:
- Medical provider’s names and contact information for the past 10 years.
- Personal medical history dates and details, such as surgeries and illnesses for the past 10 years.
- Foreign travel in the last five years
- Employment history, including companies and dates of employment
During the process, the broker will get timely updates from the Source Brokerage case manager and may be asked to provide additional information as requested by the underwriter.
If an offer of coverage is made, it may be modified or different from what the client applied for. Details about the decision will be provided and the client will have an opportunity to decide if she or he would like the approved policy delivered.
To accommodate busy schedules, applicants can receive and accept their policy electronically.
For more information about the DI application and underwriting process, contact Steve Crowe at ext. 222, Ellen Crowe at ext. 223 or Brian Hettmansberger at ext. 230 Chris Bussey at ext. 220 or request a quote.
