Navigating the Underwriting Maze: Why an Adviser Matters

The Underwriting Journey

In the world of insurance, the underwriting process is akin to peering into a crystal ball. Insurers want to know everything about you, from your medical history to your recent car accidents. Why? Because millions of dollars can be at stake, and no insurance company wants to cover a terminal illness which was diagnosed yesterday. So, they ask questions - a lot of the - to cover all their bases.

Sadly, I have a tale of back-and-forth to share – a tale of miscommunications and the bitter taste of disappointment. This journey highlights the importance of having an adviser by your side, navigating the maze-like world of insurance underwriting.

Imagine a scenario where an insurance application is stalled, frustration mounts, and clarity is as elusive as a mirage in the desert. This wasn't just any application; it was my own. Having the dual roles of client and adviser, gave me unique insights into the process. One of my admin team has also worked at the medical clinic I attend, which added another layer of insight into this intricate web.

Why Use an Adviser

Here's where the value of an adviser shines through like a beacon. Insurance applications are rarely straightforward and miscommunications can cause lengthy delays. A skilled adviser can bridge the gap, ensuring that your interests are protected and that the process runs smoothly.

The Underwriting Dilemma

During my own application journey, I was met with denials, puzzling decisions, and moments that seemed almost comical. One instance involved a denial for TPD cover due to outstanding follow-ups for a colonoscopy. The irony? Every Australian male is recommended to have one at the age of 45. It's a rite of passage, not a sign of impending doom!

Transparency Matters

The underwriting process is not the time to be coy. The more open a client is with their adviser, the smoother the journey becomes. Something as simple as disclosing smoking habits or relevant medical history at the outset, can save everyone a tremendous amount of time and frustration down the road.

Adviser Specialisation

My suggestion? Engage an adviser who specialises in the insurance application process. They're well-versed in the intricacies of underwriting, can navigate the maze of questions, and ensure that the process is as painless as possible for you.

In the world of insurance, there are no shortcuts and the underwriting process can be a maze. However, full transparency from the get-go and the right adviser by your side, you can successfully navigate this journey. Remember, insurance is all about protecting your future, so it's worth every step you have to go through on the way.