Holistic Underwriting Approach in Life Insurance

This case study outlines the application of a holistic underwriting approach through Pacific Healthy Rewards, focusing on a client named Diane. At age 55, Diane sought a $2 million, 20-year term life insurance policy to secure her financial future as she anticipates becoming a grandmother. After evaluating various options, Diane and her financial professional determined that Pacific Life's PL Promise Term1 was the most suitable choice due to its cost-effectiveness and flexibility. The holistic underwriting process considered Diane's overall wellness and healthy habits, allowing her to qualify for a better risk class, thus reducing her annual premium significantly. The study details how Diane's proactive health measures led to an upgraded risk classification, resulting in substantial savings. It also discusses additional options available to Diane, such as converting her policy and adding riders for accelerated death benefits and premium waivers. This comprehensive approach illustrates the benefits of integrating health and lifestyle factors into insurance underwriting.