Valmark continues its rich history of innovation in the life insurance industry by expanding its toolkit for independent insurance and financial professionals. Its newest offering, the Life Insurance Fulfillment Tool™ (LIFT™), is focused on making the process of buying life insurance simpler for both clients and advisors.
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The global health pandemic and economic crisis have impacted most major industries, turning on its head the traditional purchasing processes of many businesses. At the center of this disruption is the life insurance industry, one that is notorious for its laborious requirements of paper applications, wet signatures, overnight packages, and physical examinations. The current environment only makes an already difficult process, historically focused on physical interaction, even more challenging, especially for larger policies.
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Valmark has capitalized on this challenging environment by creating a tool that makes the life insurance buying process simpler and faster for clients, and more efficient for financial professionals. By combining the accelerated programs currently offered by insurance companies and its existing Private Underwriting Risk Evaluation™ (PURE™) process with a new HIPPA-compliant application process called LIFT™, Valmark is taking the life insurance process to where the rest of society is – remote!
“We have been refining our new business process for years,” said Larry J. Rybka, Chairman & CEO of Valmark Financial Group. “Recently, we put in place some of the final pieces of technology and workflow, some of which were developed by our investment business, to allow our insurance teams to work with our member firms to gather both medical records and client signatures electronically. While most of the industry has been moving this direction with smaller policies, Valmark’s LIFT™ is unique in that it’s specifically designed for streamlining the high-net-worth market, which often features cases with large face amounts and complex underwriting requirements involving multiple insurance companies.”
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