Application Quality

This graph represents the percentage of applications placed, withdrawn, not take or incomplete for Non-Can and Guaranteed Renewable Disability Income policies for 2005.

Source: JHA 2005 U.S. Individual Disability Income Market Survey

Several Individual Disability Income carriers have recently announced changes to their DI offerings by raising DI benefit amounts and replacement levels along with some significant occupation class changes.  The three companies we are highlighting have indicated that these announcements come after an extensive review of their own block performance, the current competitive landscape and industry trends.   The following provides an overview of the changes and enhancements.

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Interstate Insurance Product Regulation Commission Begins Work

The Commission of the Interstate Insurance Product Regulation Compact held its first meeting on June 13, 2006 in Washington, D.C. to take the first critical steps toward making the Compact fully operational streamlining state oversight of insurance products.

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Managing your client’s expectations at point of sale about what the claim process may involve is one of the most valuable services you can provide.  Throughout the claim process your client may be asked for information - requests may encompass medical, occupational and/or financial areas to mention a few.  Being sure to keep your client informed as to why the requested information is needed is as important as the job the claim professional performs.  The receipt of the requested information, in and of itself, presents yet another opportunity for an intervention point which may warrant additional information requests.

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