Underwriting data and eligibility
O ur instant under w riting platform uses the follo w ing data to appro v e applications, in tandem w ith applicants’ ans w ers during the application process. E thos under w rites policies on behalf of most of our carrier partners using rules de v eloped in partnership w ith them. Additionally, w e partner w ith C UN A M utual G roup to o ff er their T ru S tage TM product suite, a v ailable through C UN A M utual’s proprietary under w riting rules and application .
Complete and honest disclosures are essential. Lack of disclosure can lead to ad v erse ratings, ineligibility, or loss of co v erage.
; Applicants 20-65 are routed to an initial product application, or “interview,” based on their CBI score. Final eligibility is based on the applicant’s medical and other information collected during the interview. Applicants who are ineligible for one product will be reconsidered for a higher risk product until the most favorable match is found.H ; Applicants 66+ are routed to Ethos Final Expense. Based on medical and other information collected during the interview, those who become ineligible will be reconsidered for a higher risk product until the most favorable match is found. Initial product eligibility is based on age and a credit-based insurance (CBI) score, determined through a soft inquiry of the applicant’s credit. A soft inquiry does not impact their credit score. Credit-based insurance (CBI) score
The CBI score is predictive of mortality and policy lapse and is generated using consumer data around credit use. Here are some things to ask your client about that could lead to a less favorable CBI score:
; Shorter credit histor ; Recent credit account delinquenc ; Low credit limits
; Collection account ; ForeclosureH ; Bankruptcy
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