According to Forbes, not only are Americans panic shopping for food, water and toilet paper during the pandemic; some are also panic shopping for Life Insurance. Many quoting agencies are reporting as much as a 50% increase in life insurance applications since mid-February.
At MVP Financial, we have seen a similar increase in life insurance applications. While more Americans are working from home and taking care of their families, reaching out to clients and prospects for a "well check" could lead to a conversation about concerns to move life insurance shopping to the top of their to-do list.
For obvious reasons right now, electronic application submission with e-policy delivery is the quickest process. With our Quick App solutions, you don’t need to meet face-to-face with your clients to take an application or deliver the policy.
And with the accelerated underwriting possibilities, your clients may not need to meet with a paramed examiner either!
Since the coronavirus outbreak, many of our carriers and service providers are experiencing a slow down in service. We have received notices from paramedical services, APS retrieval services, contracting personnel, phone interview providers, and carriers regarding their processing lag times. Consequently, it might take an extra day or two for each step of application underwriting to be completed. If you work with us, you can be assured that we are doing everything possible to keep your cases on track for timely submission to commission!
We are committed to supporting your needs as you service your clients and are ready to assist you with solutions for peace of mind, income protection, gifting options, wealth transfer,
succession plan funding, and portfolio risk mitigation. The partnership values that drive us every day will carry us through this pandemic.
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