Checking your details process

'Checking your details' (CYD) forms are sent out at the point we make a final underwriting decision on a life. They include all possible amendments that have been made since the application had been submitted. However, only the Risk information eg medical answers are replayed to the clients.

It is important to ensure that the client thoroughly checks the information and makes any amends if necessary, amendments can potentially cause the terms to change, possibly resulting in commission having to be recalculated and interrupting the customer journey.

To reduce these, always double check the following before submitting the application form:

  • The spelling of your clients name.
  • Their date of birth.
  • Their occupation details.
  • The document is signed and dated.

If there are any amends an underwriter will review these and depending on the stage of the application the following may occur:

No change to the decision

  • The underwriter reviews the new disclosures and they do not change the underwriting decision - A letter is issued to the client thanking them for the information and that there is no change to the decision.

New Decision made

The underwriter reviews the information and if the disclosures cause a change of decision. Depending if the case has been authorised one of the following occurs:

  • If the application has been authorised it will be redrawn to indicate the correct terms.
  • If the application has not been authorised the original terms are removed and the correct term applied and a new offer letter issued.

Further Information required

The underwriter reviews the information and decides if further investigation is required eg a Patient Health Report (PHR). Again depending if the case has been authorised one of the following occurs:

  • If the case has been authorised we will issue a letter to the client instructing them that we require further information and that we will maintain cover for 60 days whilst we carry out this review. However, if we cannot obtain the information within this time period at the end of the 60 days the policy will be cancelled.
  • If the case has not been authorised we write to the customer informing them that the decision has been removed and the underwriting process restarted.