Easy and Consumer Centric
At BC Brokerage, we’ve designed our website and procedures to be as consumer centric as possible. In today's day and age, it has never been more crucial to offer your services and products online. At BC Brokerage, our goal is to keep insurance simple, being transparent and getting you the best coverage and premiums possible. Need to run an instant life insurance quote? Click here.
We work for you! Not an insurance carrier!
We’re 100% Independent - this means that we don’t work for any insurance carrier. We also pride ourselves on being insurance fiduciaries – keeping our clients’ interests first, and solving their problems on a need's basis. Although many of our clients come to us already knowing their insurance needs, whether that be through a needs calculator or as a recommendation from a Fee-Only Certified Financial Planner (CFP), our clients always have access to schedule a visual consultation at no charge. Click here to schedule a time with BC Brokerage.
Throughout our quoting process, we scan the entire industry and over 100+ A rated insurance carriers to compare rates and pricing. We will put together the top 3 insurance carriers, break down the costs, benefits, and riders in our own BC Brokerage 1-page analysis, and provide the policy illustrations. From here, we will consult with our client and confirm what we want to apply for.
Pre-Underwriting and Matching You with One of our 100+ carriers
Once we finish pre-underwriting and quoting, we then have our clients go ahead and fill out BC Brokerage’s very own online digital insurance application, otherwise known as our client fast fact. From here, we pull the rest of the information that we need to complete an insurance application on the client’s behalf.
Our goal from here is to get our clients their insurance coverage at their quoted premium, or better, as swiftly and seamlessly as possible. We check with the carrier to see if our clients will qualify for accelerated underwriting. To qualify for accelerated underwriting, the insurance carrier and its underwriters will review the information and questions answered on the insurance application, pull motor vehicle records (MVR), run an Rx check (prescription list), as well as look at other recent insurance activity. Once this is completed, the carrier will make a decision on whether or not they qualify for accelerated underwriting. If denied for accelerated underwriting, BC Brokerage will go ahead and coordinate a medical exam to occur.
What's included in an insurance exam?
An insurance medical exam can include, blood and urine samples, extended medical questionnaires, height, and weight measurements. The nurses are able to meet clients at their place of residence, work, or any location of their choosing, and can meet you during, before, or after normal business hours as well as weekends. It’s imperative that our clients commit to the time and meeting location of their appointment. This is usually where we can see a lag in underwriting as nothing can move forward until the exam is completed. Once completed, the underwriter will review and determine if any medical records are needed. Once medical records and the exam have been reviewed, we will have an underwriting decision within 3-5 business days.
Financial Documents in insurance underwriting
Through the underwriting process, a few financial documents may be requested at the underwriter’s discretion and guidelines. This can include providing recent tax returns, W2s/1099s, operating agreements, wills, trusts, collateral assignments, third party designees, and more. Our team will coordinate this with you, and documents can be securely uploaded to our portal here.
Once an offer is made by the carrier, we will reach out to our client and let them know their options, along with the updated quotes and pricing. From here, we put the policy in force and bind insurance coverage, complete any last EFT information, and then get the policy issued. If a policy is rated or declined, we will consult the client and let them know the updated pricing, or if we think we can get a better rating from applying with another carrier. This cycle continues until approval.
When the policy is received (we deliver all policies digitally in PDF format), we will send it over via DocuSign for delivery receipt signatures, sometimes (depending on carrier) a statement of good health, and an amendment page if we made any changes from the initial application. Once completed, the client will be sent their policy!
Although the insurance policy is issued, it doesn’t stop here. We make sure we check in with our clients annually to make sure no updates or changes are needed. This can be as simple as an address change, a phone number change, email, EFT, or any other service requests. All service is done at 0 charge to our client.
This sums up the BC Brokerage process. We love working with our clients to insure their hard work and financial goals. Want to set up a time with us to connect/network/let us up you? Click here.
About the Author:
Peter C. Ciravolo is Co-Founder of BC Brokerage, based out of Indianapolis, Indiana. Peter specializes in Life, Disability Income, Long Term Care, Annuities, Life Settlements, Individual Health, Dental and Vision, Small Business Group Benefits, and more. A professional networker and marketing guru, Peter enjoys golf, traveling, and a self proclaimed "foodie," - always out and about trying the latest restaurants or recipes.