The Life Insurance Underwriting Assistant tool From LIHD
By James P. Tobin, CFP ®
Last Updated on
Underwriting Assistant Takeaways
Expert Reviews from the life insurance help desk
COMPARE RATES INSTANTLY
What is the Life Insurance Underwriting Assistant?
The Life Insurance Underwriting Assistant is a free consumer facing tool that provides advice (based on the experience of the Life Insurance Help Desk) on the best available life insurance company for 30 + health conditions.
In addition to making a recommendation of the top 3 carriers for your primary condition, the Life Insurance Underwriting Assistant provides you with information that the recommended carrier will require to make an underwriting decision. This criteria is usually either unavailable or difficult to locate.
This is no longer the case. With just a few mouse clicks you will know what will be required.
Why Not Just Use The Free Quote Tool Instead?
Free quote tools are great and if fact there is one on this page. However, they are limited in to providing an accurate price for an accurate health condition rating.
Because different carriers have vastly different risk appetites for specific conditions, price tools alone are insufficient. This is why experienced Independent Agents will advise that you speak with them before randomly applying for the lowest advertised price.
The Life Insurance Underwriting Assistant will not change the fact that speaking with an Independent Agent is the best advice. However, the Underwriting Assistant will allow you to enter into the conversation as an educated consumer.
How Does The Life Insurance Underwriting Assistant Work?
The Life insurance Underwriting Assistant looks like most free quote tools but functions a little differently. Below you see the Life Insurance Underwriting Assistant with clear directions. Simply take the information from the results page and use it to pick the health class and carrier when using the rate tool.
Make it a combo!
As proud as we are of the Underwriting assistant, the truth is that the Ninja quoter is still an integral part of the formula to find the best deal possible. Use the Underwriting Assistant to see the carrier most likely to treat you best and then use that information to pick a health class and check rates.
Note that the rate quote tool does not show table ratings. However, table rates are relatively easy to calculate as each "table" is 25% more than the standard rate. In addition to table ratings, you can read about all the ins and outs of term life insurance with the 2020 Buyers Guide.
While it still is most advisable to speak with an independent agent before applying anywhere, this information will have you more educated on life insurance matters than the vast majority of shoppers.
Now Use The information from the underwriting assistant to get a quote
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Underwriting Assistant Released on the Google Play app Store
If you have found the Underwriting Assistant to be a useful tool, tell your friends. The tool is available in the App store at Google Play.
Bonus: The most common mistakes people make buying life insurance and how to avoid them