We know business cases come with complex financial requirements. That's why we've enhanced our financial underwriting guidelines to make the process clearer and more efficient for you and your clients.
What's new:
More progressive key person multipliers (up to 20x), increasing flexibility in evaluating coverage for entrepreneurs and startups.
Reduced need for co-signers, making approvals easier for business owners.
Shortened business term requirements to align better with SBA loan collateral assignments.
Doubled retention limits, providing underwriters more discretion to approve larger policies
Raised accelerated underwriting (AUW) limits from $2M to $4M, freeing up underwriters to focus on complex cases rather than transactional term business.
Legal & General America life insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, MD, and William Penn Life Insurance Company of New York, Valley Stream, NY. Banner products are distributed in 49 states and in DC. William Penn products are available exclusively in New York; Banner Life is not authorized as an insurer and does not do business in New York. The Legal & General America companies are part of the worldwide Legal & General Group. CN03272025-3
Legal & General America, 3275 Bennett Creek Ave, Frederick, MD 21704, United States, 800-638-8428
