A producer from a well-known mutual company called me to see if we could offer a better rating for his client. His client was rated Table 4, which increased the cost of insurance, making it more expensive. The producer wants to do what's best for his client and reached out to find out if I could provide value by finding the most appropriate solution.
I told the producer that this case fits our Table Shaving Program. This program can help clients get a Standard Non-Smoker rating. If the client is rated from Table 1 to Table 4, we can issue a Standard Non-Smoker rating for Whole Life. If the client is rated from Table 1 to Table 3, we can issue a Universal Life policy with a Standard Non-Smoker rating.
How do we do this? We request a lab split from the producer that was done for the other carrier, so the client doesn't need to undergo another paramedical exam. We complete the application and proceed with our underwriting.
The client was looking for $1 million in death benefit and was age 50. The premium with a Table 4 rating for a WL was $36,010, but with Guardian's Table Shaving Program, it was $27,460 for WL. Over the span of 30 years, we saved his client $256,500. This program has helped thousands of producers place more business and save their clients money.
If you are interested in learning more about underwriting advantages with Guardian or if you have a similar situation, feel free to reach out.
2024-178651 Exp 8/26
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