The Informal Review process can be a lengthy and sometimes labor intensive process that includes ordering APS, underwriting review, case packaging and presentation to the carriers, carrier analysis of presented information, and review of any informal offers.
Due to these factors, many carriers have established minimum guidelines related to the Informal Review process.
- Informal Reviews should be reserved for larger premium cases and are generally not available for smaller face amount term or permanent sales.
- Most carriers require a minimum of $1 million face amount for term, and a $500,000 face amount for permanent plans OR a minimum premium amount of $10,000 or more in target premium for their review processes.
- Before completing a Pinney Informal Application, we recommend that you discuss your case and any details with our underwriting staff first. In many instances we can provide underwriting guidance and potential ratings based on our experience with many health and underwriting concerns, thus avoiding the Informal Review process.
- The Pinney Informal Application can be completed electronically, online with the signature page printed out for signature; or you can print the entire application and fill it out by hand. Once completed with health history, required Doctor’s address and phone information, and signed, the form may be sent back to us by mail, fax or email.
- Once all carriers have responded, the underwriting offers will be communicated to you with any other advice or recommendations from our Underwriting Team that may be pertinent.
If you have questions or cases that may need an informal review, contact us today for assistance.