At Last, an Easier Process


By Gary Bottoms, CLU, CHFC 

Chief Executive Officer

The consequences of taking a risk can develop suddenly. One minute you can be holding a certain hand of cards, and the next minute the whole hand of cards has changed. As I was thinking about how quickly the landscape can change, I thought of a personal example.

Last year, I was mountain biking with a couple of friends in North Georgia and having a great time, although a tad overconfident. In a split second, after clipping a tree, I was horizontally airborne like superman flying through the air and landed on my head and shoulder. Fortunately, there was no permanent damage done, and thanks to a high-quality helmet, I ended up with only a gash on my forehead.

The next morning, I had an insurance related meeting with one of our neurosurgeon clients. Upon first glance, he immediately wanted to know what happened to my face. I thought he might be amused by my story, but he was not amused at all. His experience of dealing with head and spine damage gave him perspective, and me a lecture, on dealing with overconfident people who may be moving a little too fast, despite the risk. There is an obvious tie-in to this story with life insurance.

Gary was a tad overconfident while mountain biking with friends in North Georgia.  The bike was unscathed, but Gary ended up airborne with a gash on his forehead — highlighting how quickly things can change.

It is easy to procrastinate with life insurance when you are feeling good, and your schedule is busy. It is a fact that life insurance is one of a few assets in our economy that requires permission before it can be obtained. Permission requires providing data related to the risk involved. If health is bad, it may be too late. When one is healthy, it is assumed it can be done another day – maybe, maybe not. It seems we often get calls from prospective clients just after a health event has occurred, or they have observed an event in someone else’s life. We’re good, but we cannot fix every case.

For many, the process of preparing for some financial risks has become easier. In the past, a deterrent to pursuing life insurance coverage has been the unpleasant application process that involved a lot of questions, along with lab tests and weeks of waiting for the results to be evaluated. For some applicants, the process is still long and the possibility of having to pay a higher rate than expected, or even being declined for coverage, still exists.

Fortunately for many though, it is now possible to apply online and be evaluated and approved within a day or two. Insurance companies have their own range of limits related to age of the applicant and amount of coverage, but the process has improved. It is designed to minimize requests for medical records, when possible, and take advantage of alternative data sources and follow-up questions instead of another round of medical record requests. 

Once the underwriting classification is established, and the client is ready to proceed, the payment may be made electronically, and the policy is immediately available for delivery electronically. In short, the application process can be abbreviated for many, but not all. It is evolving, and everyone likes the direction. 

TBG is here to assist. Our process includes presenting options and providing concierge service. Value is created for our clients by listening and delivering every step along the way, including periodic reviews as circumstances evolve.  For us, it is a relationship – not just a transaction.

Our corporate calling of helping others, along with our embedded employee benefit and life insurance specialties, intersects with our client’s desire for ongoing financial security and protection.

Gary Bottoms, CLU, CHFC

Chief Executive Officer


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