Expedited Life Insurance Processes

BY Sagicor Life Posted April 16, 2020 In Sagicor Life USA Tips

In general, people like to get things done quickly, and with as few inconveniences as possible. When it comes to getting life insurance, it isn’t much different.

According to the 2019 Insurance Barometer Report by LIMRA and Life Happens1, 47% of Americans — 117 million people — are “somewhat” or “much” more likely to buy life insurance with a simplified underwriting (SUW) approach, compared with traditional underwriting approaches. A SUW approach provides a faster turnaround time by requiring less documentation for certain policies up to a specified benefit amount and issue age. It can also be lab-free — not requiring you to get blood drawn.

When asked about the benefits of a SUW process, the results were as follows:

Benefits of Simplified Underwriting

  

The most appealing benefit is the speed and ease of the process. While avoiding face-to-face contact was deemed the least important benefit at the time, in the current health climate of 2020, it may be more important than ever.

Sagicor Life Solutions

Sagicor is proud to offer several solutions that may help expedite the process of applying and attaining life insurance so that you can get protection from the safety of your home.

  • Automated Underwriting. Sagicor offers Accelewriting®, an automated underwriting system that utilizes an eApplication. It will provide an underwriting decision within minutes with no medical exams, bodily fluids, Attending Physician’s Statements (APS), or telephone interview required.2 Also, Accelewriting includes eDelivery so that you can get your coverage faster via an online process featuring eSignature.

  • Online Life Insurance
    • SagicorNow. Unlike traditional life insurance, SagicorNow offers a fully online experience. That means no agents, no medical exams3 and, more importantly, no waiting. And, because it's online, you can get insured in minutes.
    • Peace Assured. Sagicor offers final expense life insurance, a type of whole life insurance, that provides your family with a cash benefit at time of death to help cover end-of-life expenses quickly. You can apply online and get coverage in minutes.

 

Contact us today if you have any questions about our expedited processes or products.


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<Footnote>

1 2019 Insurance Barometer Report by LIMRA and Life Happens

2,3 No Medical Exam for Qualified Applicants: All applicants must answer application health questions and undergo   automated underwriting review. Depending on health answers, electronic report results, age, and amount of insurance applied for, an applicant may not receive an immediate decision, and a review of more information and/or a medical exam may be required to determine eligibility.

 

Sagicor Life Insurance Company, home office Scottsdale, Arizona issues life insurance and annuities. Products not available in all states and state variations may apply. Products have limitations and restrictions including surrender charges. 

 

SagicorNow is the marketing name for the Sagicor Life Insurance Company direct-to-consumer online experience.

 

Peace Assured Whole Life is issued by Sagicor Life Insurance Company, Scottsdale, AZ (Home Office) and offered by My Life Covered Agency, LLC, Chesterfield, MO. Insurance and annuities issued by Sagicor Life Insurance Company have limitations and restrictions including surrender charges. Peace Assured has limitations and restrictions regarding benefit payments due to misrepresentations in the application for insurance or when death is due to suicide in the first two policy years.

 

Policy Forms: 1000/1000FL, ICC096001/6001/6001CA/6001FL, 6002/6002FL/6002SD, ICC096003/6003/6003FL/ 6003SD, ICC096005/6005ND, 6014FL, ICC141015, ICC146062, ICC191018, ICC191019, ICC191020.

Form Number: 9486

Life Insurance