APS-Only: Underwriting Path for Cases Previously Bumped out of PLUS
New this month, a key enhancement has been introduced to our underwriting process. A new APS-Only underwriting path will remove the need for an insurance examination and labs for select cases.
Many clients who may have otherwise qualified for PLUS accelerated underwriting, except for a condition that is not evaluated or monitored through physical measurements or lab testing, have been bumped out of the process for full underwriting (to include an exam, labs and APS).
For many individuals with common conditions that previously made them ineligible for PLUS accelerated underwriting, we can now underwrite with an APS only. That means no exam or labs for more clients!
We will continue to develop and evolve our ability to underwrite certain impairments within the PLUS process using this new APS-only path. At this time, a complete list of qualifying impairments is proprietary; but some common conditions that may qualify include:
Abnormal mammograms, Pap smears
Anemia
Anxiety/depression
Arthritis
Asthma
Attention Deficit Disorder
Biopsy
Chest pain
Epilepsy
Sleep apnea
Thyroid disorders
Example cases
SCENARIO #1 – Female age 35 for $1 million with a history of asthma. All other factors would have put the case on the path for PLUS approval but the history of asthma alone kicks the case out of the PLUS path. Instead of full underwriting, which would have included scheduling a paramed exam with blood/urine and ordering an APS, we will only order an APS and assess the risk using just the medical records.*
SCENARIO #2 – Male age 42 for $1 million with a history of sleep apnea. All other factors would have put the case on the path for PLUS approval but the admitted history of sleep apnea alone kicks the case out of the PLUS path. Instead of full underwriting, which would have included scheduling a paramed exam with blood/urine and ordering an APS, we will only order an APS and assess the risk using just the medical records.*
SCENARIO #3 – Male age 50 for $500,000 with a history of diabetes. All other factors would have put the case on the path for PLUS approval but the history of diabetes kicks the case out of the PLUS path. Diabetes is evaluated and monitored through lab testing to determine severity and level of control, along with associated impairments and mortality factors. As a result, this case will continue to require full underwriting to include an exam, labs and an APS.
* If the medical records contain additional information that was not admitted on the application or developed through electronic checks, a paramed exam and labs may be required.
If you have questions or would like more information, contact your Protective Life representative.