Securian Expands Eligibility for WriteFit Accelerated UW

Securian Financial has expanded individual life insurance applicant eligibility for its lab-free accelerated WriteFit Underwriting™ program.

Applicants age 50 and under applying for policies underwritten by Securian Financial affiliates – Minnesota Life Insurance Company and Securian Life Insurance Company – with face amounts of $2m or less are now eligible for WriteFit. Applicants ages 51 to 60 applying for polices with face amounts up to $1m are also eligible.

According to Securian Financial data, 82% of the company’s individual life insurance applicants in 2018 would be eligible for WriteFit under the expanded parameters .

“Accelerated underwriting programs like WriteFit are making the life insurance application process easier and faster than ever before. Expanding eligibility for WriteFit will improve the underwriting experience for more people seeking financial security for their families.” – John Helberg, Securian Financial’s individual life insurance chief underwriter.

Securian Financial introduced WriteFit in 2016 for applicants under age 54 and policies with face amounts up to $1m.

Since the program’s inception, Securian Financial has processed more than 26,500 WriteFit applications. In 2018, 65% of WriteFit applications were accelerated without labs or exams, applicant placements were 10-15% higher with WriteFit than with traditional underwriting, and approval times averaged 24 hours. Additionally, eligible customers chose WriteFit over traditional underwriting 80% of the time.

Information from a tele-interview and a variety of readily available medical and non-medical data is used with WriteFit. The data includes financial information, court records, property records, motor vehicle reports, Medical Information Bureau records and prescription drug records.