--- title: The Ultimate Cover Letter for the Underwriting Process description: BSMG provides resources and updates for advisors to utilize during the field underwriting process in 2023. image: https://life-annuity-blog.specialtyprogramgroup.com/hubfs/CoverLetter.png --- [info@bsmg.net](mailto:info@bsmg.net) [(800) 343-7772](tel:800.343.7772) [![Unified | HubSpot COS Framework](https://life-annuity-blog.specialtyprogramgroup.com/hs-fs/hubfs/logo-1.png?width=359&name=logo-1.png "Unified | HubSpot COS Framework")](http://www.bsmg.net) - Menu Item 1 - Sub-menu Item 1 - Another Item - Sub-menu Item 2 - Menu Item 2 - Yet Another Item - Menu Item 3 - Menu Item 4 # BSMG Blog: Protecting the Future of Families and Businesses - Blog # The Ultimate Cover Letter for the Underwriting Process Posted by [BSMG](https://life-annuity-blog.specialtyprogramgroup.com/author/bsmg) on   In those instances where the case submitted isn’t as black and white as one would hope, a well thought out cover letter inclusive of case details will aid in the underwriting process. We worked with our underwriters at Lincoln Financial to provide some guidelines ![CoverLetters](https://life-annuity-blog.specialtyprogramgroup.com/hs-fs/hubfs/CoverLetters.jpg?width=888&height=296&name=CoverLetters.jpg) --- BLOG POST Cover Letters - The When and Why   *We worked with our underwriters at Lincoln Financial to provide some guidelines:*   **The general rule** In those instances where the case submitted isn’t as black and white as one would hope, a well thought out cover letter inclusive of case details will aid in the underwriting process. **When to use:** - Age and Face Amounts – over 55 years of age **AND** 5 Million or more of face amount - Business Coverage for several partners or key persons - Criminal activity - Bankruptcy - Rated or declined offers by other carriers **Additional Specifics** - For personal needs coverage, provide client background regarding profession, occupation, employer as well as financial details including earned and unearned income sources and net worth, and explanation as to how the amount applied for was determined. - For business needs coverage on all cases, provide details on the type of coverage being applied for (key person, buy/sell, private equity/venture capital, stock redemption, etc.), company background and value, client income (salary and bonus structure) and how the amount applied for was determined. - For cases involving criminal history, provide details outlining what lead to the conviction, the type of conviction (misdemeanor or felony), date of conviction, dates of incarceration, if any, and date probation ended. - For bankruptcy cases, provide details outlining the cause for bankruptcy, date it was filed and discharged, the type (Chapter 7, 11, 13, etc.) and what steps have been taken since to avoid recurrence.  --- *If there is ever a question on using or creating a cover letter, your case manager as well as Chase and Tim are here to help. Please use us to determine if a cover letter is needed and if one is needed we are here to help in the creation.*   Topics: [Life Insurance](https://life-annuity-blog.specialtyprogramgroup.com/topic/life-insurance), [Underwriting](https://life-annuity-blog.specialtyprogramgroup.com/topic/underwriting), [Insurance Industry News](https://life-annuity-blog.specialtyprogramgroup.com/topic/insurance-industry-news), [Risk Differentiation Underwriting](https://life-annuity-blog.specialtyprogramgroup.com/topic/risk-differentiation-underwriting) [![Share on Facebook](https://life-annuity-blog.specialtyprogramgroup.com/hubfs/2016_Social_Sharing_Images/share-facebook-red.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=The%20Ultimate%20Cover%20Letter%20for%20the%20Underwriting%20Process) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Flife-annuity-blog.specialtyprogramgroup.com%2F2023-07-27_the_ultimate_cover_letter%3Futm_medium%3Dsocial%26utm_source%3Demail) ### Posts by Topic - 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