#10 of 12 in the Life Insurance “Checklist For The Real World” series.
Ask your broker/agent to show you your Application Cover Letter…
This is the most underutilized tool in the tool box. For pivotal rate classes (those who are on the borderline between rate classes or if you are a bodybuilder or athlete) this is ABSOLUTELY CRITICAL to getting the best rate!
Make sure you get a copy before BEFORE they send it to the underwriter. If it looks less than professional or if it makes your case look negative in any way, ask to have it edited.
Also, ALWAYS post a picture of yourself (the client) on the cover letter. It works wonders! A happy healthy picture puts the underwriter at ease and helps them justify assigning you to the better classification (lower rates). A picture is worth a thousand words and if you don't fit the standard height/weight charts, a thousand words wouldn't be enough to change an underwriters mind, but if you are an athlete or bodybuilder it could mean the difference between approval, rate hike or even denial!
Life Settlements FAQ – What If I Die Shortly After Selling My Policy?
Life Settlement FAQ – What if I Change My Mind?
Life Settlement FAQ – When Will I Get My Money And From Whom? And What Happens After?
Life Settlement FAQ – Is My Information Private & Confidential?
Life Settlement FAQ – Broker or Provider Representative?
Life Settlement FAQ – Do I have to sell all of my policy?