Principal’s Accelerated Underwriting Platform has become a key ingredient in the success many Advisors are having this year, and there are definitely some common denominators around the execution of this concept. These common denominators focus on two areas: advisor training and changes in the new business area inside the Member Firm. Everything you need from a training standpoint is curated below, and a strategy discussion is only an email or phone call to Cornerstone.


The Sale

While Accelerated Underwriting is a process rather than a sale, it does lend itself to very specific applications, including:

  • The Business Market: Tie Accelerated Underwriting to the BOES platform to make implementation a much smoother process.
  • Additional Coverage: Add to existing income protection plans, or use it to update Buy/Sell agreement funding without the hassle of a medical exam.
  • Insure the Kids: Need to protect insurability for the children of your producer’s best clients? Accelerated Underwriting is the easiest way to secure the coverage, term or permanent.
  • The Retirement Supplement: Smaller face amounts on permanent sales in the retirement planning segment are a perfect fit for Accelerated Underwriting.

The Process

The Accelerated Underwriting process can be broken down into three steps:

ACC-UW-Process-4

Of course, there is more to the story than just the three steps. Check out Principal’s Accelerated Underwriting Guide for all the details.

The Client

Need more ideas on where to find sales using Accelerated Underwriting? Check out this collection of“ideal clients” from Principal.

The Checklist

Training on who is, or perhaps more importantly, who is not a good candidate is critical to success on those first few cases with Accelerated Underwriting. Use this Accelerated Underwriting Checklist to educate producers and screen clients prior to submitting an application.

The Product

One of the major misconceptions about Accelerated Underwriting is that it is only for term insurance. With Principal, the entire product line is eligible for Accelerated Underwriting. The only restrictions are based on the age, face amount and the client’s medical history. Learn more about the Principal product line with their Product and Services Guide.

The Underwriting

What’s the bottom line on Accelerated Underwriting? It provides a streamlined approach that improves the underwriting process through:

  • Face amounts up to $1MM
  • Fast underwriting decisions: Often in 48 hours or less!
  • Elimination of lab testing and paramed exams for 50% to 60% of applicants who qualify.

The Administration

How does Principal’s industry leading Business Market Administration (BMA) department come in to play with Accelerated Underwriting? Every single business case that uses Principal products has access to a robust suite of resources including List Billing, Online Access, Reporting and forward-looking Plan Maintenance backed up by a dedicated staff of program administrators. If you are not using this to stand out from other advisors and differentiating yourself, you are leaving resources on the sidelines. Learn more about Principal’s BMA department here or give them a call @ 800-654-4278.

The Training and Resources