Table Ratings

We frequently receive calls regarding table ratings.  Sometimes it's for help setting up a New Business Illustration and there are questions about how to add in the table rating.  More often than not however, it is because an application has been submitted and Underwriting has informed you that the policy is being offered with a table rating - which then leads to the next question - "What is the new premium being offered on this policy?"  With a few, quick steps, this premium can be figured using the Illustration System.

1. Bring up the Illustration System and enter in the client information just as you did the first time (or open up your saved quote).  Make sure you use the same Specified Amount and include any riders you may have quoted and submitted the first time.  Ultimately, you want to make sure to use the same information so that the quote matches the original premium you came up with.

2. Let's assume, for example, that Underwriting has informed you that the policy is being offered at a Table "B."  Note: that the letter and number of the alphebet coincide.  So, if you are being offered a Table "B," this is essentially the same thing as a Table 2.  (Table 1 is A, Table 2 is B, Table 3 is C, etc.)  To add in your table rating, simply type the number of the table rating in the box at the top right of the input screen and hit the tab key.  You will see that this then also places the letter to the right of the number you entered.  The table rating you just entered is now being considered part of the quote.  Any modifications you make from this point forward will take the table rating into account as well.

It's a simple as that!  Feel free to call me with any questions you may have pertaining to quoting with table ratings.  I am happy to help.

Jill Parsons
Illustration Development Team
illustrationhelp@kclife.com