Ted came to us through a wealth advisor. He wanted $1-2 million of term.
His medical history was a little entertaining, but far enough back, and mild enough, that we thought he should try an Automated Underwriting, no exam/labs, quick issue process.
The maximum he could apply for was a million, so he did.
The carrier decided they needed an exam and labs. So he didn’t qualify for ‘track one’, the immediate policy issue, but he could still get a policy quickly. He did the exam and labs—they were pure as the driven snow—so he was approved at Best Class for the million dollar policy.
Then we had an idea.
Since he’d done the requirements, maybe we could shift products and get him $2 million?!
So the Home Office “cloned” the file, and a Best Class policy was issued for 2 million dollars of coverage.