We have been analysing underwriting requirements for a cool new project that probably has something to do with Quotemonster. That is not ready yet, but by working through every major underwriting guide in the market we have gained some appreciation of just how hard it is for financial advisers to work out these requirements.
The guides differ tremendously in approach and complexity. The more extensive a company’s history and product range the more complex the requirements are likely to be. But that isn’t uniformly the case. Some companies manage succinct and clear tables that are easily followed, while others require reference to several different sets of rules and require the adviser to combine the answers to identify all the relevant tests and examinations. No wonder lots of mistakes are made.
Here is a slightly tongue in cheek review of each document in aggregate.
A big difference in approach is whether or not the document includes a table of all income protection occupation codes. Other than that the big determinant of page length is the number of tables. The big determinant of file size is the use of images.