Key Takeaways
- Agents who set realistic expectations retain 70% more clients when ratings come back higher
- The average fully underwritten policy takes 4-6 weeks—clients who expect 2 weeks get frustrated
- 15% of applications result in table ratings—preparing clients prevents lost sales
The Underwriting Reality
Client Question: "How long will this take? When will I get my policy?"
Setting realistic expectations is crucial: the average fully underwritten policy takes 4-6 weeks, and 15% result in higher-than-quoted rates.
What to Explain
| Stage | What Happens | Timeline |
|---|---|---|
| Application | Basic info, health questions | Day 1 |
| Medical Exam | Paramedical exam (if required) | 1-2 weeks |
| Underwriting | Review of application, records | 2-6 weeks |
| Decision | Approved, rated, or declined | 3-8 weeks |
| Policy Issue | Policy delivered, coverage begins | 1 week after approval |
Possible Outcomes to Discuss
- Preferred Plus — Best rates, excellent health
- Preferred — Great rates, minor issues
- Standard — Average rates, typical health
- Table Rating — Higher rates due to health concerns
- Decline — Cannot offer coverage
Explaining the Medical Exam
A client nervous about the paramedical exam
Setup
You've completed the application and need to schedule the medical exam. The client is anxious about needles and medical procedures.
Client says:
“Wait, I have to do a medical exam? What does that involve? I hate needles. Do I have to go to a doctor's office? Can't you just use my regular doctor's records?”
Practice Objectives
- 1Explain the paramedical exam process calmly
- 2Describe what happens (vital signs, blood, urine)
- 3Address the needle concern with empathy
- 4Explain that it comes to them at their convenience
- 5Reassure them it's quick and routine
The Rating Possibility
A client who might not get standard rates
Setup
A client with controlled high blood pressure has applied. You need to prepare them that they might not get standard rates.
Client says:
“So the application is in. You quoted me $50/month. That's what I'll pay, right? How soon will I get my policy?”
Practice Objectives
- 1Gently explain that quoted rates are preliminary
- 2Describe how underwriting might affect pricing
- 3Prepare them for possible table rating
- 4Explain what happens if rates come back higher
- 5Set realistic expectations while staying positive
Underwriting Taking Long
A client frustrated by slow underwriting
Setup
It's been four weeks since the application and the client is calling to complain about the delay.
Client says:
“It's been a month! What's taking so long? You said it would be two to four weeks. I'm paying for temporary coverage and I don't even know if I'm going to be approved. This is ridiculous.”
Practice Objectives
- 1Acknowledge their frustration—it's valid
- 2Explain what might be causing the delay
- 3Offer to check on the status
- 4Reassure them about their temporary coverage
- 5Set updated expectations without over-promising
The Unexpected Rating
A client who got rated higher than expected
Setup
Underwriting came back with a table rating. The $50/month premium is now $75/month due to weight and borderline blood pressure.
Client says:
“What do you mean $75 a month?! You told me $50! This is a bait and switch. I knew this was too good to be true. I'm not paying $75.”
Practice Objectives
- 1Stay calm—don't get defensive
- 2Explain what happened in underwriting
- 3Acknowledge their frustration as reasonable
- 4Discuss options (accept, appeal, shop elsewhere)
- 5Be honest about what's possible
- 6Help them decide if the rated policy still makes sense
Before submitting an application for a client with health concerns, you should: