Monday, July 24, 2017

Social Media and the Underwriting Effect

We already know that many employers utilize social media when screening a potential candidate for employment. Since some of the information is public, it’s a great way to get a sense for who someone is and how they conduct themselves outside of the resume and interview. We also know of
instances where someone has lost their job because of a social media post.

Insurance carriers are now utilizing the same tactics when considering an applicant for life insurance… That’s right, and it’s becoming the norm.

MVP had a recent case where the carrier came back with a follow up question during the underwriting process: “Our research has found on social media, that this client has a picture posted on Facebook with a cigar in his mouth. The client answered No to any type of tobacco use. Please provide full details on his use of cigars. Does he smoke them or chew on them? How often? When was his last cigar? Full details please.”

In this new age of information, this is an excellent reminder that if you participate on social media, what you and your friends post could be public information and can be used against you any time you are being considered for something (think: potential client or business deal, insurance, job or bank loan applications etc.). 

You do have some control over what information is shared publicly by paying attention to your security settings and pondering whether your post is truly the message you want to convey about yourself before you post it. You may think that your social media presence hasn’t been a problem for you, but how do you really know for sure? 

Wednesday, July 12, 2017

Uncertainty is Certain

Offer Clients Protection and Flexibility

If there’s one thing in life that’s certain, it’s uncertainty. Without warning, life may drastically change. What would happen to those who depend on your clients most if they die, get laid off, become disabled, or any number of things that would bring to an end the income they provide and their loved ones depend on? 

*Prudential policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force.