Insurance Underwriting Cover Letter
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How to Write an Underwriting Cover Letter
Who You Are
This letter comes to you from ______________________ and will provide additional
information about the attached application on the life of my client, John Jones.
Your Relationship to the Client
I have known John Jones for 8 years, and have sold life insurance to various Jones
family members during that time for both personal and business reasons.
Identify the Client
Mr. Jones is the President of Jones Construction Corp., which provides steel
infrastructure for office buildings in the Pacific Northwest. They have 82 full time
employees and Mr. Jones is the sole stockholder of the company (which was founded in
1966). Business is excellent, which prompts this application for additional key person
insurance and personal insurance on Mr. Jones. Mr. Jones’ current income from the
business is $240,000 per year.
Justication for the Insurance
While Mr. Jones currently carries $500,000 of key person insurance, the coverage is 8
years old, and Mr. Jones needs a total of $1,500,000 at this time -- $750,000 to protect
the business and contracts in progress should he die; the other $750,000 will be
payable directly to Mr. Jones’ family as personal insurance.
Insurance in Force/Replacement
The $500,000 of insurance Mr. Jones now carries is term insurance and will be replaced
with new coverage ($750,000) with a longer guarantee period. Mr. Jones carries only
$200,000 of personal insurance, also term life from 8 years ago, which will also be
replaced with new (higher) coverage with a 20 year guarantee period. Both of his
currently policies were issued with a Preferred underwriting classification.
Mr. Jones has always enjoyed excellent health, and his family history is also excellent.
Neither of his parents have ever had cardiovascular disease or cancer, and both are still
alive at age 87. Mr. Jones has never used tobacco products, exercises regularly
(walking, golf, skiing, gymnastics, judo, running, basketball, football, hockey, ice
skating, and swimming). He also maintains a strict diet to insure that he gets the proper
nutrients. He takes anti-oxidants and other vitamins regularly. He reads medical books
Mr. Jones currently takes no prescription medications. Last year, however, his doctor
prescribed Elixer of Sweet Dreams because Mr. Jones was having some trouble
sleeping. A construction project his company was involved in collapsed, crushing a
day school in Bwataland. Mr. Jones was extremely distraught until it was discovered
that the collapse was caused by terrorism, and not by any fault of his company. He is
no longer taking this medication.
Owner and Beneciaries
The corporation will be the owner of Mr. Jones corporate policy, and it will also be the
beneficiary. Mr. Jones Irrevocable Life Insurance Trust will be the owner of the
personal policy, as well as its beneficiary. Melvin Pickleblatt is the corporate and
personal attorney and can provide additional information if you wish.
Medical Exams and Inspections
I have scheduled the exam for his coverage through ________________.
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