No More Waiting on Health Records

We have all been there... Waiting weeks and sometimes months for the receipt of medical information by the carrier, so the underwriter can make a final decision to an offer for a life insurance application.

Imagine, being able to speed up that process to less than 24 hours or even minutes! Unique to our partnership with AIMCOR, we now have the ability to obtain abbreviated health records in minutes. The Human API platform allows insurance applicants to connect and share medical data electronically from over 90 percent of US healthcare providers (health systems, hospitals, clinics and physician offices). With instant access to medical information such as lab results, medications, vital measurements and conditions, MVP Financial can optimize the life insurance distribution process and deliver an experience that meets modern consumer expectations.

Keep in mind that these records are abbreviated so they don't include a thorough history of chronic medical conditions like heart ailments, diabetes, cancers, lung diseases, etc. This method of record sharing does not entirely negate the full medical record details, but it does give an underwriter a quick view of an applicant's medical history. In some cases, it can provide enough information for a decision without the wait and sometimes without the need for lab collection from a paramedical examiner.

Learn more about helping your clients share their medical record instantly with Human API here.

Who Buys Annuities and Why Should They?

As the industry promotes annuity awareness, June is the perfect time for you to talk to your clients and prospects about annuities as a long-term investment that delivers guaranteed income they can count on.

Who buys annuities?*

  • The average age (at first purchase) is 51
  • Gender is 50/50 (females at 51%) 
  • The median household income is $64,000
  • 59% of annuity owners are married

Many people underestimate how long they will live which puts a strain on personal savings and increases the likelihood of outliving personal assets. Retirees are living longer, healthier, and more active lives than generations before. Add the decreasing reliability of government and employer programs to provide sufficient income, and you have a retirement income gap that continues to grow for many Americans. 

According to recent research, 40% of investors say that they are very interested in income products like annuities. Fixed annuities are a good fit for many consumers and a valuable addition to retirement planning because they offer safety, growth potential, tax advantages and lifetime income.

Saving for retirement is important, but it’s only half the battle. It’s important to talk to your clients about annuities as a strategy to help them maintain their standard of living in retirement. 

 

 *From the Gallup 2013 Survey of Owners of Individual Annuity Contracts this is the demographic make-up of an annuity owner