Myth 3 It’s harder to know what my client will get approved for through a digital process.
Fact: Your client is more likely to be approved online, faster, and at competitive rates. Agents worry that digital sales will leave them in the dark about what’s happening with their customer. Have they been approved? For which product? How long will it take? The right online insurance provider will offer underwriting transparency throughout the client application process—with higher approval rates and significantly less hassle than traditional carriers. What to look for: high approvals & competitive rates. Behind-the-scenes AI-driven decision making technology can crunch thousands of data points in moments, bypassing the need for an intrusive, time-consuming and potentially risky in-person medical exam. The result is more coverage options, faster. If your client isn’t right for one type of coverage, Ethos, for example, will determine eligibility on the spot and offer another option that fits, with the ability to cover 90% of Americans aged 18-85. The end result is more policies sold, and more customers whose families are protected from financial loss in the event the policyholder’s life goes unscripted. Finally, in the past, “no medical” used to mean “higher rates” and sometimes even “unknown carriers.” Today, healthy people can obtain online life insurance coverage at rates competitive with traditional, fully underwritten products—from A-rated carriers. Customers who expect speed no longer have to sacrifice price or quality.
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