We have all been there before… a long line at the grocery store, the never ending wait at the DMV. Well, with acquiring Disability Insurance, you don’t have to dread the underwriting process any longer if you follow these simple rules.
1. Take about 10-20 minutes out of your day to fill out the Disability application completely. Pay close attention to the questions because your answers impact the underwriting process greatly. If you do not understand one of the questions, don’t be afraid to raise your hand and ask your agent.
2. When it comes to your Personal History Interview (telephone interview), be prepared. Have a list ready of all medications you are currently taking or have taken. Include on that list your Primary Care Physician and their contact information; account for all the times that you were hospitalized – for surgeries or procedures; make note of any physical conditions that you may have (Arthritis, Carpel Tunnel Syndrome, High Blood Pressure, etc.); and lastly be sure to jot down any medical conditions within your family history.
3. If a Paramedical Exam (w/ Blood and Urine Sample) is being required of you, there are a few things that you will want to be ready for to help this exam run smoothly. First, get plenty of rest the night before. You will be required to fast for at least 8 hours, so plan accordingly. Also, drink plenty of water before the exam and one glass of water one hour before your appointment so you can provide a urine sample with ease. Do your best to be as relaxed as possible during this exam because the examiner will be taking your Blood Pressure and Pulse.
4. Depending on your medical history, an APS (Attending Physician Statement) may be required. This is ordered and paid for by the insurance company that is requesting these medical records, but retrieving these records is actually what holds up the underwriting process. So, to help speed this process you can always contact your physician’s office and ensure that they did receive the APS request and that they are working on submitting your medical records to the appropriate insurance company.
5. When it comes to submitting additional paperwork like your income tax returns or any Application Amendments (Foreign Travel Questionnaire, Aviation Questionnaire, etc.), it’s always best to get them back to your agent as soon as possible. This too can hold up the underwriting process.
When it comes to protecting your loved ones, protecting your income is key. Think about how long your family would be able to make ends meet if your paycheck suddenly vanished. So make sure you’re able to get your protection started as soon as possible.
If you have any questions about the underwriting process, please don’t hesitate to contact us.