Accelerated Underwriting Process Updates Effective 11/21/2024
On Nov. 21, 2024, changes to our accelerated underwriting process go into effect. We’re making these changes to help reduce processing time and increase placement rates for your business.
Pending business
Accelerated cases will be held open with a “Pending” status for:
- 30 days from the receipt date of the signed application
- Or two weeks from the last requested requirement date
Cases will be closed as “Incomplete” if the requirements are not received within the applicable timeframe. No extensions will be granted. Cases closed as “Incomplete” will require traditional underwriting if reopened.
Permanent products
Accelerated cases featuring illustrated permanent products that are “Approved other than applied for” will require an Offer Acceptance and updated illustration to be provided.
- The Offer Acceptance and updated illustration must be received within two weeks of the offer.
Cases will be closed as “Incomplete” if the requirements are not received within the applicable timeframe. No extensions will be granted. Cases closed as “Incomplete” will require traditional underwriting if reopened.
Approved with outstanding requirements
Approved accelerated underwriting cases with outstanding administrative requirements will have a “Tentative offer acceptance” posted.
- Requirements must be received within two weeks of the offer.
Cases will be closed as “Incomplete” if the requirements are not received within the applicable timeframe. No extensions will be granted. Cases closed as “Incomplete” will require traditional underwriting if reopened.