3D Advisors is continually monitoring the Coronavirus (COVID-19) situation. With many states now issuing Stay at Home orders, running your business can get complicated.
We have put together some resources to help you get through these challenging times.
As technology is ever changing, our website is up to date and fully equipped with online tools and resources that are second to none to help expedite the application process from start to finish. There is no need for your client to leave the comfort of your own home. Offering, Online application platforms, access to accelerated underwriting, and exam free programs. Rest assured, our sales reps are ready to help you find the perfect product and process that suits your client’s needs during this time. Now is the time to take advantage of the technology that 3D Advisors has to offer!
We are updating this page as quick as we can, so please check back regularly.
Exam Vendor Information
For Exams and EKGs
Restrictions:
CA Counties – Alameda, Contra Costa, Marin, Monterey, Napa, San Francisco, San Benito, Santa Clara, Santa Cruz, San Luis Obispo, San Mateo, and Sonoma
Notes:
User can logon to website to get most current information Most branch offices are remote now and primarily for scheduling only Areas with strong shut down orders may see delays in scheduling
Carrier News, Product Info and More for July 6, 2020
3D Responds to EMSI’s Business Suspension
On Friday, July 3rd, 3D Advisors was notified that EMSI a vendor we use for Attending Physician Statement (APS) retrieval, paramedical exams, and tele-application services for our Transaction Center, has become a casualty of the unprecedented economic times due to COVID-19 and has ceased operations effective July 3, 2020.
Since receiving this unexpected notification, our leadership team has been developing contingency plans to address solutions for pending business, as well as new business, including expedited discussions with alternative vendors to explore all options.
Additionally, we are adjusting staff resources and processes at 3D to mitigate any impacts as we strive to keep all business flowing efficiently.
We know EMSI’s abrupt closing may come as a surprise to many in the industry, and we are confident we will have alternative solutions in place quickly to ensure continuity of service for our financial professionals and your clients.
We are committed to servicing your business and will provide regular status updates about this situation. Please continue to submit business as usual and raise any questions to your 3D relationship manager.
Update as of April 2, 2020:
With more than 40,000 confirmed cases, New York City has unfortunately become a COVID-19 hot spot. EMSI is therefore temporarily suspending all mobile and in-office services in the five NYC boroughs of The Bronx, Brooklyn, Manhattan, Queens and Staten Island beginning April 2, 2020 to protect our employees and the people we serve. Medical record retrieval, underwriting and inspection services continue. This suspension is a preventive measure reflecting the spread of COVID-19 in the New York City area. It does not apply elsewhere in New York State and will be re-evaluated as conditions improve.
ExamOne Response to Cornoravirus Disease 2018 (COVID-19)
Update as of April 17, 2020:
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Update as of April 3, 2020:
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Underwriting During COVID -19
American General Underwriting Bulletin April 8, 2020
These additional temporary guidelines are now implemented on both formal and informal cases until the COVID-19 situation has diminished:
- For individuals aged 70+, all cases will be postponed.
- For individuals aged 60-69, all rated cases inclusive of all medical flat extras will be postponed.
- For individuals aged 50-59, all cases assessed greater than Table B inclusive of all medical flat extras will be postponed
- For individuals aged <50, all cases assessed greater than Table D and/or all medical flat extras will be postponed.
- Additionally, there are several conditions that, in general, make a person more susceptible to COVID-19 and its more severe health impacts, including but not limited to coronary artery disease, metabolic disorders, respiratory impairments and underlying malignancies. Individuals with these co-morbid conditions will also be postponed regardless of current risk assessment of their non-COVID impairments. Processing of all currently pending business affected by the above COVID-19 guidelines will be suspended until further notice and a note will be placed on the file. Further, all approved and conditionally issued business will be reviewed and closed subject to our current case closeout rules.
Underwriting changes as of April 8, 2020
- Effective April 8, 2020, for any pending or newly submitted formal applications, we’re offering additional solutions to underwrite without exams.
- Exam Substitution For Applicants With Recently Completed Physicals An applicant’s recent routine physical will be accepted in lieu of a paramed exam if it has sufficient data and if the trending rate class based on other evidence does not exceed table 3, does not require a medical flat extra and there is no evidence of material non-disclosure. We have several methods available to collect this data, but expect to utilize Human API in most cases. Human API is a tool that allows your clients to securely share their medical records and health data with Legal & General America.
Equitable as of April 1, 2020:
Addressing Market Volatility Concerns
Managing the Impact of Market Volatility
In response to the challenges that COVID-19 and social distancing have presented to the life insurance application process, here are some important changes and tips to help keep your applications moving forward. New applications
Signature on forms other than applications
Voided checks
Case documents
Policies
Thank you for your business, and we will continue to look for innovative ways to support you and your clients during these challenging times. |
Update as of April 15, 2020:
We have been monitoring the environment related to the COVID-19 pandemic and the impact on our business. As a result, we are making some additional adjustments to our underwriting guidelines and products. Effective immediately we are implementing the following temporary changes to our underwriting guidelines and individual IUL products. Note: These changes apply to all formal applications not already underwriter approved (or conditionally approved subject to nonmedical requirements) or policies currently out for delivery. New temporary underwriting guideline changes specific to COVID-19:
The following product change is also effective immediately:
Click HERE to review our recent New Business & Underwriting communication announcing changes related to COVID-19. For more information related to the Covid-19 emergency visit: www.globalatlanticlife.com/covid19 We are continuously monitoring the situation and will keep you informed of any additional changes. If you have questions, please reach out to your Global Atlantic underwriter or Regional Vice President. |
Global Atlantic as of March 27, 2020:
At Global Atlantic, we understand the need to provide flexibility in how we process and underwrite new life applications for our distribution partners in order to help you better serve your customers during this uncertain time. All our teams, including operations and customer service, are fully operational and working remotely. Effective immediately we will be implementing the following New Business and Underwriting guidelines, until further notice. Updated New Business Guidelines These New Business accommodations are temporary and may be withdrawn by the company at any time. Non-resident solicitation (cross border) rules and time-of-application requirements will continue to be strictly enforced. Completing an Application and Submission
Policy Delivery Requirements
Underwriting Requirements
Temporary Underwriting Guideline Changes specific to COVID-19:
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Global Atlantic Annuity as of March 31, 2020:
Given COVID-19’s social distancing recommendations, it may be necessary to conduct business using virtual face-to-face video conferences with clients. It is acceptable to use SnapApp or Firelight to complete your client’s annuity application virtually in a fast, easy, and secure process. |
Benefits of using SnapApp
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Requirements
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We’re here for you Rest assured, you can continue to reach our Sales, Business Relationship Management, and Operations teams during normal business hours. We are committed to our customer’s experience. We are following CDC guidelines and encouraging employees to follow our remote work procedures. These procedures have been well‐established over the years to ensure you continue to receive the same level of support in any environment. Please contact Global Atlantic Sales or Business Relationship Management with any questions or if there’s anything more we can do to assist with your business needs during this unprecedented time. Global Atlantic sales desk: (855) 44-SALES (447-2537), option 1. |
John Hancock Underwriting and COVID-19 as of April 8, 2020
1. John Hancock’s Human API portal now available to all distribution partners
In order to expedite the underwriting process for cases where medical records cannot be accessed through traditional channels, your clients can now provide John Hancock Insurance direct access to their health records through our Human API patient portal. You can begin offering this new capability on Monday, April 13, 2020. Please see additional details here.
2. Updates on older-age underwriting (80+)
During this unique time, John Hancock will not be making final underwriting offers on cases where the applicant is 80+. We are happy to continue to receive and review submissions for these clients with the goal of moving on them quickly when circumstances change. For any pending submissions in this age group with a formal application and a final underwriting offer, you can expect a call from your John Hancock underwriter shortly to discuss next steps.
Lincoln Temporary Underwriting Guidelines 4-13-20
Lincoln’s Internal Retention will be reduced to the following limits:
- $5 million maximum limit for term and permanent products
- Available up to age 65 only
- Preferred Plus, Preferred and Standard rate classes only
Temporary Table Reduction Program Guidelines:
- Ages up to 65: No changes to current TRP guidelines
- Ages 66-70: Limited offers with consideration up to Table 2 only. All other classes will be postponed
- Ages 71 and up: No changes to current TRP guidelines; TRP not available
All cases meeting the following criteria will be postponed:
- Ages 65 and under, rated Table 5 and higher
- Ages 66-79, rated Table 3 and higher
- Ages 80-85, all classes
Mutual of Omaha Underwriting Updates
Wednesday, April 15, 2020, we are implementing the following temporary changes to our life insurance underwriting guidelines. These changes apply to all fully-underwritten life insurance cases that are not already approved or issued. This includes any newly submitted and pending in-house cases, whether formal or informal.
- Postponements Due to International Travel
All fully-underwritten life insurance cases where the proposed insured has plans to travel internationally between now and the end of the year will be postponed. These postponed cases may be considered after all international travel is complete, the proposed insured has been back in the United States for a minimum of 30 days, and no further international travel is planned this year.We will continue to monitor this situation and make adjustments as warranted. - Postponements Based on Insured’s Issue Age
We will be postponing all fully-underwritten life insurance cases in the following categories:- If the individual is age 70 and above
- If the individual is age 60-69 and is rated greater than a Table 2. We will also be temporarily suspending the FIT Underwriting Credit Program for all insureds age 60-69.
As COVID-19 cases increase within the United States and around the world, Mutual of Omaha is issuing the following underwriting guidance on new and pending applications for life and health products, effective immediately (Note: Health products include Accidental Death, Long-Term Care, Disability Income, Critical Illness, Cancer, and Heart Attack & Stroke. This does NOT apply to Med Supp applications.):
- If the proposed insured or any member of his or her household has traveled or resided outside of the United States within the past 30 days, the application will be postponed until 30 days following their return.
- If the proposed insured or any member of his or her household has come into close contact with anyone known to the insured to have tested positive for COVID-19, the application will be postponed until 30 days following their exposure.
- In addition, anyone testing positive for the COVID-19 virus or those who have been hospitalized or quarantined for the virus will have their application postponed for a minimum of 90 days.
Nationwide Underwriting Changes
Given the challenges of collecting information for underwriting, submitting applications via our Nationwide Intelligent Underwriting process is the best choice. Our Intelligent Underwriting process is being expanded to allow increased acceleration rates for qualifying clients, including those qualifying for the Standard rate class. Additionally, we will consider alternative sources of medical information when an exam is necessary for both traditional business and for our Intelligent Underwriting process. Here’s what’s changing:
- Health records and results — If acceleration is not possible and alternative sources of data are insufficient, we will consider client-provided personal health records and exam results that have been completed within the past 24 months.
- Medical requirement substitutions — Until further notice, the following acceleration guidelines are acceptable underwriting solutions:
- Face amounts
Age 18 to 50: $100,000 to $2 million
Age 51 to 60: Up to and including $1 million
– Now allowing Standard or better risk classifications
– If exams are needed, we will consider a completed physical, including labs, with all results normal within the prior 24 months
– We can confirm the exam and lab results through digital health data - Face amounts
Age 18 to 50: Over $2 million
Age 51 to 60: Over $1 million
– Case meets regular accelerated underwriting guidelines for eligibility
– Applicant has had a complete physical, including labs, with all results normal within the prior 24 months
– We can confirm the exam and lab results through digital health data
– Standard or better risk classifications only
- Face amounts
- Digital health data and attending physician statements (APS) — We are rapidly implementing solutions that will provide alternate sources of underwriting data in lieu of labs, exams and medical records.
Cases that don’t meet these conditions will be considered on an individual case basis. Our underwriters are proactively reviewing new cases to identify options that may be available to continue underwriting without exam requirements and notify you of available options.
- Important note about new customers — Our Life Underwriting team is closely monitoring new customers who apply for life insurance, especially those who may have traveled where the risk of COVID-19 is highest. We may delay those applications for 30 days or request additional testing of those applicants.
- Important note for existing customers — We want to ensure that customers don’t suffer additional hardship as a result of the COVID-19 pandemic. If you are aware of customers who require assistance with the payment of their insurance premium due to COVID-19, please contact us.
Temporary Adjustments to Life Insurance Underwriting
Applicant ages 18-40
- For face amounts up to and including $1,000,000 – no change to Accelerated Underwriting program
- For face amounts from $1,000,001 to $2,500,000, and meets the following requirements: Case meets regular Accelerated Underwriting guidelines for eligibility
- Applicant has had a complete physical, including labs, with all results normal within the prior 24 months
- We can confirm the exam and lab results through digital health data How we’re handling the grace period for your clients
Applicant ages 41-60
- Face amounts up to and including $1,000,000 – no change to Accelerated Underwriting program
- Face amounts from $1,000,001 to $2,000,000, and meets the following requirements:
- Case meets regular Accelerated Underwriting guidelines for eligibility
- Applicant has had a complete physical, including labs, with all results normal within the prior 24 months
- We can confirm the exam and lab results through digital health data
Temporary Life Insurance Underwriting Guidelines
Age and rating limitations:
- We will postpone coverage on individuals who are age 80 and above.
- Ages 70-79: Applicants must qualify for Standard rating or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death. *
- Ages 60-69: Applicants must qualify for Table 4 rating or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death. *
- Ages 0-59: Protective will consider applicants with all medical impairments through Table 4. Applicants rated over Table 4 will be considered on a case-by-case basis if the individual has no significant underlying medical condition or treatment that makes him or her more susceptible to COVID-19 death. *
* The medical conditions and treatments referred to above include, but are not limited to:
- Heart disease
- Significant cancer in the last 10 years
- Diabetes
- Pulmonary disease (COPD, Asthma, etc.)
- Autoimmune or Immunosuppressive Disease
- Any medication that causes immunosuppression (Biologic, Prednisone/Steroid, Methotrexate, etc.)
These temporary changes apply to all new or pending cases with no final underwriting offer or outstanding underwriting requirements. They do not apply to issued or approved cases that are awaiting policy issue requirements, including a Statement of Health.
As a reminder, we have a COVID-19 Resource Center (https://www.myprotective.com/COVID-19/) that you can visit for the most up-to-date information from Protective.
COVID-19 Update – Underwriting Procedures
Important Individual Life Portfolio Updates
New Business and Application Transition
- Term Essential and Elite 30:
- Applications will not be accepted for Term Essential 30 or Term Elite 30 with an application signed date on or after 4/27.
- Formal applications will need to be signed on 4/26 or earlier to be considered. o Applications signed on 4/26 or earlier must be received in the home office by 5/4.
- Unplaced changes of previously underwritten policies or applications still in underwriting may not be changed to Term Essential/Elite 30 on or after 4/27.
- Term Essential and Elite 30:
- For UL product premium restrictions:
- To have an application submitted without the premium restriction, it must have an illustration produced on 4/12 or earlier, AND the application must be signed 4/26 or earlier, AND the application must have a home office receipt on or before 5/4.
- Informal inquiries are subject to the limitations, unless replaced by a formal application submitted and following the dates above.
- For policies not subject to the above limitations and issued other than as applied, required revised illustrations will be supplied through the home office
- For UL product premium restrictions:
- Applications Without Ownership Arrangements:
- Formal applications without ownership arrangements (Preliminary applications, trial application and where a Trust is TBD) must be replaced by a final formal application by the end of the transition period
- Applications Without Ownership Arrangements:
Securian Financial Underwriting Update
WriteFit Underwriting available exclusively through eApp |
When you submit life insurance business using our eApp, you and your clients can take advantage of the WriteFit Underwriting™ program. Which means some of your clients may not need to undergo labs. Plus, they can get a faster decision and benefit from an overall improved experience compared to paper applications. Clients may be eligible for WriteFit Underwriting if they are:
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WriteFit1
- The maximum face amount for WriteFit applicants ages 18 through 50 is being increased from $2 million to $3 million. Applicants ages 51 through 60 continue to be eligible for up to $1 million of coverage via the WriteFit platform. Eligibility for WriteFit is determined by answers to the tele-interview.
Traditional Life Underwriting (includes underwritten policy changes)
- Insurance ages 71 and older: new applications will not be accepted. Currently pending applicants rated standard or better will be issued. Currently pending applicants who are rated worse than standard will be postponed until at least June 15, 2020.
- Insurance ages 61 through 70: offers for new and pending applicants who are rated Table B or worse will be postponed until at least June 15, 2020.
- Insurance ages 51 through 60: offers for new and pending applicants who are rated Table C or worse will be postponed until at least June 15, 2020.
- Insurance ages 50 and younger: offers for new and pending applicants who are rated Table G or worse will be postponed until at least June 15, 2020.
- Money will not be accepted with new applications until at least June 15, 2020, and temporary insurance agreements will not be available during this time.
SecureCare Universal Life (UL) Underwriting
- Insurance ages 71 and older: new applications will not be accepted. Currently pending applicants with mortality assessed at standard or better will continue to be underwritten. Currently pending applicants with mortality assessed worse than standard will be postponed until at least June 15, 2020.
- Insurance ages 70 and younger: mortality evaluation will need to be standard or better for a SecureCare UL policy to be issued. Applicants who would be table rated for mortality purposes will be postponed until at least June 15, 2020.
- Money will not be accepted with new applications until at least June 15, 2020; and temporary insurance agreements will not be available during this time.
Updated Underwriting Guidelines
- Starting on 4/8/2020, these new guidelines will be in effect until further notice for Trendsetter® Super, Trendsetter® LB, Transamerica Financial Foundation IUL®, and Transamerica Lifetime℠ current medical guidelines for clients through 75 years old
- Traditional paramed exams and labs will still be accepted at the current medical guidelines for clients under 75 years old — the following chart outlines options in lieu of the traditional paramed requirements
- Due to the circumstances around COVID-19, Transamerica will not be accepting applications on clients over the age of 75 for all life insurance products and unable to offer LTC Riders or Chronic or Critical Living Benefit riders on individuals ages 56-75 on all products and face amounts
- Requests to reduce face amounts to nonmed levels to waive medical requirements will be honored; contact your Underwriter to request this
Carrier Announcements
Allianz as of April, 2020:
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American General as of April 8, 2020:
Update as of April 8, 2020:
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American National as of March 25, 2020:
Updates as of April 2, 2020:
Xpress & Xpress Plus
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As a reminder, the regular rules of our Xpress and Xpress Plus accelerated underwriting programs still apply and have the potential to issue cases up to $1,000,000 at preferred plus rates without any medical underwriting. |
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Update as of April 17, 2020:
Effective immediately, a COVID-19 Questionnaire is a
requirement of application for all individual life insurance
coverage until further notice. A sample copy of the
COVID-19 Questionnaire as approved in the Interstate
Insurance Compact is attached here (forms may vary by
state).
This COVID-19 Questionnaire is available and is associated
with each Assurity life insurance application in the iPipeline
forms repository, but is not included as part of the application,
so requires separate download.
This questionnaire is not currently incorporated in our eapplication
flow with iPipeline or our accelerated underwriting
process.
Any applications submitted to Assurity electronically through
iPipeline will trigger a separate email communication from
Assurity to the proposed insured(s) at the email address
provided in the application advising them of the need to
complete the questionnaire and instructions to do so with
signature and return back to Assurity via DocuSign.
If the application includes an Other/Additional proposed
insured, please include the email address for Other/Additional
proposed insured in agent comments with application
submission.
ALIC email.htm[4/17/2020 7:58:41 AM]
Please advise your clients to look for this email from Assurity
and complete promptly to avoid processing delays as all
underwriting decisions require its completion.
Proposed insureds not willing to adopt the e-sign process for
completion of the questionnaire can, at their request, be
mailed a paper form for completion and return.
Applications being completed entirely in paper format should
be submitted along with the COVID-19 Questionnaire
completed for all proposed insureds to avoid processing
delays.
Please call customer connections at 800-276-7619 ext. 4264,
if you have any questions.
ASSURITY’S COVID-19 RESPONSE
We hope you and your family are healthy and holding up well through the uncertainty surrounding the coronavirus (COVID-19). While COVID-19 is causing disruption in our communities, we’re committed to making sure you have the protection and support you need.
The information found here provides guidance relative to the COVID-19 situation as it currently exists. Updates will be made as conditions warrant.
Assurity has a team of subject matter experts monitoring and responding to the coronavirus situation as it develops. Assurity remains committed to providing superior service to our customers and is committed to preventing any interruption in our business processes.
Assurity has the vast majority of our associates now working from home, with social distancing practiced for our associates needed on site. All associate business-related travel is prohibited, in favor of technology-enabled meetings. We appreciate your understanding and patience as our associates acclimate to completely remote work.
Q: Will Assurity be extending the normal premium payment grace period? | |
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Q: How is COVID-19 diagnosis or exposure being considered in the underwriting process? | |
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Q: How is travel being considered in the underwriting process? | |
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Q: How does the delay of or unavailability of paramedical examinations or lab testing affect the underwriting process for life, disability income and critical illness insurance? | |
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Q: Does Assurity offer e-delivery of policies, either to agents or policyowners? | |
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Q: Do Assurity policies provide benefits for COVID-19? | |
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Update as of April 15, 2020:
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Underwriting changes as of April 8, 2020
***Important*** Underwriting changes as of April, 1 2020
Banner as of March 24, 2020:
Equitable as of April 1, 2020:
Addressing Market Volatility Concerns
Managing the Impact of Market Volatility
In response to the challenges that COVID-19 and social distancing have presented to the life insurance application process, here are some important changes and tips to help keep your applications moving forward. New applications
Signature on forms other than applications
Voided checks
Case documents
Policies
Thank you for your business, and we will continue to look for innovative ways to support you and your clients during these challenging times. |
Update as of April 15, 2020:
We have been monitoring the environment related to the COVID-19 pandemic and the impact on our business. As a result, we are making some additional adjustments to our underwriting guidelines and products. Effective immediately we are implementing the following temporary changes to our underwriting guidelines and individual IUL products. Note: These changes apply to all formal applications not already underwriter approved (or conditionally approved subject to nonmedical requirements) or policies currently out for delivery. New temporary underwriting guideline changes specific to COVID-19:
The following product change is also effective immediately:
Click HERE to review our recent New Business & Underwriting communication announcing changes related to COVID-19. For more information related to the Covid-19 emergency visit: www.globalatlanticlife.com/covid19 We are continuously monitoring the situation and will keep you informed of any additional changes. If you have questions, please reach out to your Global Atlantic underwriter or Regional Vice President. |
Global Atlantic as of March 27, 2020:
At Global Atlantic, we understand the need to provide flexibility in how we process and underwrite new life applications for our distribution partners in order to help you better serve your customers during this uncertain time. All our teams, including operations and customer service, are fully operational and working remotely. Effective immediately we will be implementing the following New Business and Underwriting guidelines, until further notice. Updated New Business Guidelines These New Business accommodations are temporary and may be withdrawn by the company at any time. Non-resident solicitation (cross border) rules and time-of-application requirements will continue to be strictly enforced. Completing an Application and Submission
Policy Delivery Requirements
Underwriting Requirements
Temporary Underwriting Guideline Changes specific to COVID-19:
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Global Atlantic Annuity as of March 31, 2020:
Given COVID-19’s social distancing recommendations, it may be necessary to conduct business using virtual face-to-face video conferences with clients. It is acceptable to use SnapApp or Firelight to complete your client’s annuity application virtually in a fast, easy, and secure process. |
Benefits of using SnapApp
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Requirements
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We’re here for you Rest assured, you can continue to reach our Sales, Business Relationship Management, and Operations teams during normal business hours. We are committed to our customer’s experience. We are following CDC guidelines and encouraging employees to follow our remote work procedures. These procedures have been well‐established over the years to ensure you continue to receive the same level of support in any environment. Please contact Global Atlantic Sales or Business Relationship Management with any questions or if there’s anything more we can do to assist with your business needs during this unprecedented time. Global Atlantic sales desk: (855) 44-SALES (447-2537), option 1. |
Automatic Reinsurance Capacity and Retention Limits
Update as of April 13, 2020
Keeping business moving forward
We recognize the importance of keeping business moving forward during these challenging times. To support you, we have created an information hub with operational and underwriting changes relevant to COVID-19. You will also find our most recent communications housed there. Please use this site as a resource to make it easier to find the information you need.
STARTING TODAY! JOHN HANCOCK’S HUMAN API PORTAL AVAILABLE TO ALL DISTRIBUTION PARTNERS
In order to expedite the underwriting process for cases where medical records cannot be accessed through traditional channels, your clients can now provide John Hancock Insurance direct access to their health records through our Human API patient portal. Please see additional details here.
John Hancock Vitality
NOW AWARDING POINTS FOR AT-HOME WORKOUTS
As everyone adapts to a new normal, we realize your clients can’t get to the gym for their regular workouts. Which is why we now allow members to temporarily earn Vitality Points for at-home workouts. These points will also count towards Apple Watch payments. We shared this easy how-to guide with members to show them how to document their workouts and earn their points.
Product
COMPETITION CORNER: PROTECTION IUL WITH THE LONG-TERM CARE (LTC) RIDER VS. LINCOLN’S MONEYGUARD
John Hancock’s Protection IUL with the LTC rider is well-positioned to compete against MoneyGuard. Learn more.
Protection UL with John Hancock Vitality PLUS and our Long-Term Care (LTC) rider is a powerful three-in-one solution that can help your life insurance clients protect their wealth and health for a lifetime.
Update as of April 8, 2020:
To our valued distribution partners, At John Hancock, we continue to evaluate and adjust our underwriting practices to account for the unprecedented circumstances under which we are all working. Today, we have two important updates to share.
Please continue to check JHSalesHub.com/Covid-19 for the most current information and recent communications. Thank you for your continued trust in John Hancock. We are here to support you, your business and your clients. |
John Hancock as of April 1, 2020:
At John Hancock Insurance we have taken the time to carefully review our underwriting practices to determine how we can evolve them in the current circumstances. While our normal underwriting practices continue, we are pleased to share three important ways we’re making it easier for you and your clients to secure coverage during these challenging times:
For these cases, medical records should include a comprehensive visit with a physical and labs within the last 12 months, accompanied by a completed Part II medical supplement form. All other submissions will be subject to routine age and amount requirements. Please contact your John Hancock underwriter with any questions.
In addition to these enhancements, below you will also find other administrative updates. We hope you find all this information useful as we navigate these unprecedented circumstances together. Expansion of ExpressTrack process To help you continue to place cases as quickly as possible, we’ve expanded the ExpressTrack process. 2 Here’s what you need to know:
ExpressTrack eligibility criteria remain the same:
All other submissions will be subject to routine age and amount requirements. Please contact your John Hancock underwriter with any questions. |
Additional updates COVID-19 requirements
Underwriting reserves the right to request additional information and/or defer any decisions when there is not enough information to render an underwriting assessment. Policy delivery enhancements In addition to temporary changes to our underwriting process, we are also updating our policy delivery process to accommodate our many partners who are now working remotely. Details are available here. New webpage for COVID-19 related information We know you need easy access to the most current information. In an effort to centralize important updates and spare your inboxes from multiple emails, we created a COVID-19 information hub on JHSalesHub.com where you can find answers to many of your questions as well as a repository of our recent communications. |
Electronic Submission Reminder as of April 20, 2020:
In the past couple of weeks, Mutual of Omaha has made two important changes to help you and your distribution with your application submission process:
- Both of our IUL products can now be submitted electronically through iPipeline and the Speed eTicket
- We raised our Accelerated Underwriting max from $1mm to $2mm
I also want to remind you of a few other eSolution opportunities for your agents that are selling our life products. While we have a very deep fully underwritten portfolio of products, we also have a complete portfolio of simplified issue products. These products may be what your clients are asking for and needing in this COVID-19 environment. We are very proud to offer your clients our iGO® e-Application solution for almost all our simplified issue products, many of which offer instant decision, with an email signature process, there are still scenarios or products where a paper application is still necessary. One of those products is our highly competitive IUL Express.
That is why I wanted to remind you Mutual of Omaha’s Life Underwriting department will allow you to complete PDF copies of any life application and capture signatures using one of the five methods below.
This is GREAT news for your potential IUL Express clients because you can offer one of the most innovative products on the market that will prove quite challenging to be replaced (should another agent contact your client after the sale has been made). Best part is that IUL Express is a TRULY SIMPLIFIED ISSUE product, meaning no labs and no paramed needed.
To illustrate how simple and easy the process is, we have created two videos that can walk you through either the full sales process and one that just highlights how to apply signatures with DocuSign®. The third link below is a training video to walk through the competitive features of IUL Express.
- IUL Express using Easy Solve and the DocuSign® process
- IUL Express DocuSign® Producer Training Video
- IUL Express Producer Training Video
While you should always follow your Marketing Organization’s preferred application submission process, we wanted to remind you that we will allow Paper Applications & Requirements to be Submitted via Email. Click the link to view the submission guidelines.
As a reminder, below are all the accepted electronic signature methods along with information on how to submit paper applications to us through email, if applicable.
Accepted Electronic Signature Methods for New Business
- DocuSign®
- Adobe eSign (formerly EchoSign) – desktop version only, mobile version is not approved
- OneSpan (formerly Esign Life or Silanis)
- Alpha Trust
- Paperless Solutions Group
Update as of April 14, 2020:
Throughout the rapidly evolving pandemic, Mutual of Omaha has been continuously evaluating our underwriting and new business practices to support business continuity, deliver a consistently high level of service, and maintain our financial strength. As a result, effective Wednesday, April 15, 2020, we are implementing the following temporary changes to our life insurance underwriting guidelines. These changes apply to all fully-underwritten life insurance cases that are not already approved or issued. This includes any newly submitted and pending in-house cases, whether formal or informal. · Postponements Due to International Travel We will continue to monitor this situation and make adjustments as warranted. · Postponements Based on Insured’s Issue Age o If the individual is age 70 and above o If the individual is age 60-69 and is rated greater than a Table 2. We will also be temporarily suspending the FIT Underwriting Credit Program for all insureds age 60-69. The temporary changes above are in addition to the guidance on COVID-19 announced on March 24th which postpones underwriting if the proposed insured has traveled or resided outside of the U.S. within the past 30 days, if the proposed insured or any member of his or her household has come into close contact with anyone known to have tested positive for COVID-19, or if the insured has tested positive for COVID-19 or has been hospitalized or quarantined for the virus. Thank you for your flexibility and understanding as we all continue to adapt to changing conditions. We hope to be able to return to normal as soon as possible. |
Update as of April 10, 2020:
State government social distancing responses change daily, and it is increasingly difficult to know which of our distribution partners have the ability to maintain back office support for policy receipt and delivery. We also understand that any back-office support you have available today may be forced to discontinue tomorrow as the situation continues to evolve. Therefore, as an interim solution, we will begin mailing all Disability, Critical Illness and Accidental Death insurance policies direct to our customers effective April 11, 2020. This change is being implemented with the best interests of our customers and distribution partners in mind to ensure timely policy delivery to our customers in this ever-changing environment. We ask that you work with us to adapt to this new delivery process in the short term as we continue to explore other delivery solutions. However, respecting your business model is important to us. If this change will significantly impact your business, please contact your Sales Director immediately to request an exception to this process. Please know that this may take 3-5 business days. We have received several requests to email pdfs of the policy output in lieu of having an e-delivery option. Logistically, we are not in a position, at this time, to offer widespread emailing of policies; however, we are exploring this option. We continue to identify solutions for mailing policies directly to customers on all remaining product lines. Policy delivery updates on our remaining products, as well as pdf delivery options, will be provided as they are available. Updated DI, CI and AD Policy Output Procedures · An email will be sent to your office contact at time of policy issue listing any needed delivery requirements. A copy of the delivery requirements will not be attached. · All delivery requirements will be included in the policy output package. · Case Monitoring will reflect all outstanding and received delivery requirements. · Options to send back delivery requirements include: o By mail: A return envelope will be included for the customer to return to our home office. o By fax: 402-997-1805 o By email: [email protected] Note: Please reference the FAQ on how to send emails securely. If you have any questions on these new process improvements not identified in this FAQ, please contact your underwriting and new business teams at 1-800-775-7896. |
Update as of April 20, 2020:
NEW BUSINESS REQUIREMENTS: CLARIFICATION
As we adapt to the new way of doing business, we are updating our business requirements so that we may continue to offer the best protection for your customer. Faced with the health crisis caused by the COVID-19 pandemic, a copy of the good health attestation, which can be found on the policy delivery receipt, must be returned by the client. As a reminder, this has always been part of our new business process.
Beginning 4/20, we will now require that policy delivery receipts be returned for all life policies. This requirement will stay in effect through the end of the pandemic.
Update as of April 15, 2020:
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Update as of April 14, 2020:
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Update as of April 6, 2020:
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Update as of April 20. 2020:
UPDATE TO NEW BUSINESS REQUIREMENTS
As we adapt to the new way of doing business, we are updating our business requirements so that we may continue to offer the best protection for your customer. Faced with the health crisis caused by the COVID-19 pandemic, a copy of the good health attestation, which can be found on the policy delivery receipt, is needed as part of application processing.
For this reason, beginning 4/20, we will now require that policy delivery receipts be returned for all life policies. This new requirement will stay in effect through the end of the pandemic. While we recognize this as an additional step for you and the customer, it is an important one that allows us to continue to quickly process new business applications in this remote environment. This extra step in securing new business helps us to make good on our commitment to serve our customers during these uncertain times.
Update as of April 8, 2020:
Nationwide® promises to provide extraordinary care during these uncertain times. |
We’re all feeling the effects of the coronavirus (COVID-19) pandemic in one way or another. And we want to assure you that Nationwide® remains fully committed to our members, employees, business partners and communities. We understand there are going to be circumstances such as vendor closures and staffing issues that prevent us from receiving standard medical requirements. To ensure that protection is still available to as many individuals as possible during this time, we’re temporarily adjusting our underwriting guidelines. What you need to know
We’re here for you We care about you and all your customers, so please feel free to use the following additional resources, even for those who may not be Nationwide members. We’re also proud to share that the Nationwide Foundation will provide $5 million in national and community response grants to assist nonprofits, including $1 million each to the American Red Cross, United Way and Feeding America. $2 million in donation grants will be distributed to assist communities in responding to COVID-19 where Nationwide companies operate. Since 1926, Nationwide has navigated these kinds of unexpected events many times, and we are strong, stable and prepared to support you and your customers. Thank you for all you’re doing, and we wish you and your customers good health. |
North American:
North American’s Digital Doors are open
Update as of April 9, 2020:
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Update as of April 22, 2020:
Understanding the CARES Act impact The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is in effect and we are formulating plans to administer the changes. To help support your business, we’ve put together a helpful frequently asked questions (FAQ) flyer that addresses the following:
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North American as of April 6, 2020:
More tools to make your business easier in these uncertain times To continue to support your new virtual business, we are implementing a temporary solution for policy delivery. This change will affect policies issued Tuesday, April 7 and forward:
Remember to check on your state insurance department’s website for delivery requirements. Find out more about how we keep private information safe with encryption and secure upload here. |
One America as of March 26, 2020:
Supporting our partners and customers
We hope you and those closest to you are doing well as the COVID-19 outbreak continues to affect businesses and communities throughout the country and across the world. OneAmerica has long been in the business of helping individuals and businesses plan for the future and protect themselves during uncertain times, and this is no exception. As the outbreak of COVID-19 continues and knowing that this situation will continue to evolve over the coming weeks, we want to make sure you’re aware of the steps we’re taking to protect our associates, customers and assets. Read more about OneAmerica’s response to COVID-19
Value Proposition of Asset Care
Tutorial on Submitting an e-app (requires registration)
Updates as of April 3, 2020:
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Update as of April 16, 2020:
COVID-19 UPDATESPacific Life is committed to supporting your needs as you service your clients during these uncertain times. To help make staying up-to-date easier, you can find all of our COVID-19 communications in one place.
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Underwriting Update 4/7/2020***Important***Update as of April 7, 2020
Update as of April 6, 2020
Pacific Life continues to monitor the COVID-19 pandemic, and through it all, we are committed to supporting your needs as you service your producers and clients during this uncertain time. As a result of information changing so rapidly, we have decided to send COVID-19-related communications directly to producers currently contracted with Pacific Life
Pacific Life as of March 30, 2020:
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UNDERWRITING AND OPERATION UPDATES: COVID-19Pacific Life continues to monitor the COVID-19 pandemic, and through it all, we are committed to supporting your needs as you service your clients during this extraordinary time. The following guideline changes are temporary and intended to assist your clients in getting the life insurance protection they need without significant delays. |
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Temporary Underwriting Requirement Adjustments For applicants that meet all the following criteria, Pacific Life will use other available data sources to underwrite in lieu of in-person exams:
If we are unable to get adequate data from the data sources, Pacific Life may require traditional underwriting methods. Please contact us for more information, as this will be on a case-by-case basis. Underwriting Vendor Updates Paramed Exam Process Updates Temporary Underwriting Guidelines
Ongoing Support and Service Grace Period Extensions Policy Delivery
Claims |
Consumer video describing the process
Update as of April 20, 2020:
CARES Act tools
- Paycheck Protection Program: The latest on federal stimulus for business cash flow. Please join us at noon CDT Thursday, April 23, as we host Kimberly Weisul, editor-at-large for Inc. Magazine and Inc.com. Submit your questions and learn which federal stimulus is available to you and your business clients under the CARES Act. Lance Schoening, government relations director for Principal®, will moderate the event with panelists Weisul and Mark West, national vice president of business solutions for Principal. Register now to join (Can’t attend? Register to get the replay.)
- Financial assistance decision tree for your business clients. By answering just a few questions, this interactive tool can help businesses navigate what part of the CARES Act works best for them. View decision tree (Use Chrome, Safari, or Edge)
Social post: Sifting through the financial-assistance options of the CARES Act may feel overwhelming. The Principal® decision guide can help you navigate. See which programs could work best for your business. https://bit.ly/2VAac5e
- Paycheck Protection Program and tax credit calculators for business clients. Share these handy calculators with your clients to help them see how much financial relief through the CARES Act they might receive. Note: The Small Business Administration is no longer accepting new applications for the relief based on available appropriations funding. Additional funding is anticipated, and this site will be updated as new information is available. View calculators | Share email
Social post: To help your business with the CARES Act relief options, use these Principal® calculators to quickly estimate the Paycheck Protection Program loan you might receive and how much may be forgiven—and how that compares to the Employee Retention Credit. https://bit.ly/2VoWxhd
Individual disability insurance
- Relaxed Benefit Update Rider underwriting requirements. Effective immediately and through June 30, customers will be able to get the Benefit Update Rider if they purchase at least 50% of eligible coverage. Learn more
- Lab and physical measurements. Effective through May 31, we’re not requiring lab and physical measurements for coverage up to specific amounts. Learn more
- Online medical record sharing through Human API. See how clients can share records instantly and be underwritten in up to two days. Watch video | Learn more
Individual life insurance
- Rate class underwriting changes. Review underwriting changes regarding rate classes and other underwriting details. Learn more
- Financial hardship and premium flexibility for life insurance policies in NY. On March 29, 2020, the Governor of New York issued Executive Order 202.13, which expires on April 28, 2020, unless subject to an extension. We’ll be sending this notice to policyholders in New York advising them of their options under the Executive Order.
Group Benefits
- Rate stability for select renewals. Employers with less than 500 employees and a policy anniversary date of May 1- Aug. 15 will not have a rate increase. Learn more
- Financial hardship and premium flexibility in NY. On March 29, 2020, the Governor of New York issued Executive Order 202.13, which expires on April 28, 2020, unless subject to an extension. If a policyholder is unable to make a premium payment due to a demonstrated financial hardship, the insurer will allow premium to be paid over a 12-month period. This will include any notices of cancellation due to nonpayment in effect prior to the date of the Executive Order.
Nonqualified Deferred Comp
- Addressing uncertainty with nonqualified deferred comp plans. Help answer questions plan sponsors may have regarding 457(b) plans, plans governed by 409A, and unforeseeable emergencies with these plans. Get Q&As
Update as of April 17, 2020:
CARES Act tools
Individual disability insurance
Individual life insurance
Group Benefits
Nonqualified Deferred Comp
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Update as of April 9, 2020:
We know conducting business is challenging during the crisis and that you and your clients have questions. To help us better serve up timely content as it relates to your business, we’re trying a new format that will help us include more of what you need to know. New COVID-19 advisor siteNo matter your line of business, this site will be your go-to for all things COVID-19 impacting you and your clients—like underwriting, new business processes, digital marketing solutions, the Coronavirus Aid, Relief, and Security (CARES) Act, and more. Bookmark the new site for future reference. If you need to log in to the advisor site and forgot your password, call (800) 554-3395.
Individual disability insurance
Individual life insurance
Group Benefits
Nonqualified Deferred Comp
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Update as of April 8, 2020:
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Electronic delivery of policies makes getting the policy into the hands of the client faster and easier. Most financial institutions we do business with have approved our eDelivery solution. A small number have not (listed below). We’ll continue to work with each firm to gain approval of our eDelivery. In the meantime, starting May 4, all Principal® Term policies you write through any of these firms will be electronically delivered to your office. You’ll then need to print and physically deliver these policies to the client.
Learn more about Principal® Life Online, our digital term solution. Electronic signatures make doing business from a distance easierThe current working environment favors electronic ways of doing business when face-to-face interactions isn’t an option. Electronic signature (eSignature) is a tool to help you manage your business with your clients during these times of self-distancing and beyond. Get details on how you can use eSignatures for your Principal life insurance business. Enhanced online Request Part B is coming soonWe’re working hard on our Request Part B system to make it even better for your clients. The enhanced system will offer benefits such as access without logging in and improved system performance. Stay tuned for more information. |
Protective as of April 15, 2020
Temporary Life Insurance Underwriting Guidelines
Age and rating limitations:
- We will postpone coverage on individuals who are age 80 and above.
- Ages 70-79: Applicants must qualify for Standard rating or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death. *
- Ages 60-69: Applicants must qualify for Table 4 rating or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death. *
- Ages 0-59: Protective will consider applicants with all medical impairments through Table 4. Applicants rated over Table 4 will be considered on a case-by-case basis if the individual has no significant underlying medical condition or treatment that makes him or her more susceptible to COVID-19 death. *
* The medical conditions and treatments referred to above include, but are not limited to:
- Heart disease
- Significant cancer in the last 10 years
- Diabetes
- Pulmonary disease (COPD, Asthma, etc.)
- Autoimmune or Immunosuppressive Disease
- Any medication that causes immunosuppression (Biologic, Prednisone/Steroid, Methotrexate, etc.)
These temporary changes apply to all new or pending cases with no final underwriting offer or outstanding underwriting requirements. They do not apply to issued or approved cases that are awaiting policy issue requirements, including a Statement of Health.
As a reminder, we have a COVID-19 Resource Center (https://www.myprotective.com/COVID-19/) that you can visit for the most up-to-date information from Protective.
Update as of April 14, 2020:
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Prudential as of April 3, 2020:
The COVID-19 pandemic has created uncertainty and stress. Rest assured, one thing remains the same—Prudential is here to support you and the clients you serve with tools and resources. In addition to the information in this newsletter, we have just rolled out two websites to communicate how Prudential is responding to the crisis and provide tools and resources for clients and advisors.
Please visit www.prudential.com/covid and https://www.prudential.com/covid-insights for more information.
Resources for working with clients in volatile markets
Making life easy – for you and your clients
Update as of April 14. 2020:
Life insurance grace period extension |
Amid current events, Securian Financial’s Individual Life Insurance Division has enacted the following grace period extension for individual life insurance policies: § Policies that were set to lapse between March 4, 2020, and June 1, 2020, will have their grace period extended by 60 days, or until the end of the state-mandated leniency period, if later. § Policies that lapsed between March 4 and March 31, 2020, are currently being reviewed to extend their grace period. § Securian Financial will automatically stop policies from lapsing. A request to your in-force team is not needed from you, as this will be automatically applied. It is important to note that we are not waiving premium payments. Premium notices will continue to be mailed out, policy charges will still accrue, and we will still accept premium payments. Furthermore, individuals who are otherwise facing financial hardship during the COVID-19 crisis are encouraged to contact Securian Financial to discuss payment options. We will continue to monitor this program and may adjust it over time to ensure state requests are met. |
Update as of April 10, 2020:
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Update as of April6, 2020:
Update to SBLI’s Response to COVID-19Important Note: This reflects an update to our March 26, 2020 communication. SBLI continues to closely monitor the COVID-19 pandemic on a daily basis, and we will provide you with underwriting and operational updates as things change. Underwriting Operations UpdateThere continues to be no disruption to our business processing operations in Underwriting and New Business. We have taken action to ensure that we continue to underwrite and process new applications, claims, and other payments on schedule and as quickly as possible. In regards to our Underwriting updates, please note the following guidelines. Effective April 6, 2020:
Customer Service/Payment Processing
Vendor Information
E-policy Delivery SystemWe are continuing to evaluate our policy printing and mailing service; and in the interim, we strongly encourage the use of our e-policy delivery system. This enables the policy owner to accept, sign, and pay for the policy online, as well as fulfill any state delivery requirements without any human contact. If you’d like your agency to be set up or if you need any additional information or training on our e-policy delivery system and process, please contact our Brokerage Sales Desk at 1-888-224-7254 (option 1) or email [email protected] for assistance with this. |
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The Standard (Disabilities) as of March 31, 2020:
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COVID-19 Update: No Labs or Exams for More Applicants | |||||||||
We’ve made underwriting changes to help you sell The Standard’s income protection insurance during this challenging time. Starting immediately until May 31, 2020, labs or exams are not required for applicants of all ages for:
Our existing maximum issue and participation limits and income documentation requirements apply. |
Update as of April 15, 2020:
TEMPORARY CHANGES TO OUR UNDERWRITING GUIDELINES |
April 15, 2020 As the COVID-19 situation continues to progress, we are constantly assessing our guidelines and procedures to ensure that they are evolving with these unprecedented events. Additionally, we continuously monitor updates from the U.S. Department of State and CDC, as well as other local, state and federal agencies. Today, we are announcing temporary changes to our underwriting guidelines as they relate to older ages, smokers and clients with additional comorbidities. These changes are an update to our March 24, 2020 communication and will be effective Wednesday, April 15, 2020, until further notice. Changes are detailed below.
These guidelines will apply to new formal and informal cases, as well as any cases that are currently with Symetra where an underwriting decision has not been made. We will continue to require a good health statement on all cases. Smokers must be Preferred or better, otherwise they will be postponed. We will decline any cases over age 60 where the proposed insured vapes or uses vaping products. Cases ages 60 and older with the following comorbidities will be automatically postponed for 45 days: coronary artery disease, diabetes, pulmonary issues, obesity/weight builds and immunosuppression disorders. Please note that for any cases that are postponed, Symetra will re-underwrite the risk and review any new additional evidence after the postponement period. We want to assure you that we are open for business and our team is here to assist you and your clients with any and all of your product, coverage and service needs. If you have any questions or concerns, please contact your regional vice president or the Symetra Life Sales Desk at 1-877-737-3611. |
Updated Underwriting Guidelines
***Forward Together*** Includes the Updated Underwriting Guidelines, New procedure on mailing policies, and changes to grace periods.
Update as of April 18, 2020:
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Update as of April 14, 2020:
MAJOR IMPROVEMENTS TO HELP YOUR BUSINESS | |
We recently sent you an email outlining some changes we made as a result of the COVID-19 pandemic. Since these changes will affect your clients and how you run your business, we want to highlight a few things as a friendly reminder. | |
UNDERWRITING AND NON-MEDICAL GUIDELINES | |
Starting on April 8, 2020, we gave you more options if your clients could not complete paramed exam requirements. This includes non-medical options up to $1,000,000 and additional choices to satisfy medical requirements up to $2,000,000. | |
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NEW POLICIES MAILED DIRECTLY TO CLIENTS | |
With many “shelter in place” orders in effect and remote working becoming the norm, we’re transitioning to mailing new policies directly to clients to help with social distancing and make it easier for you to conduct business. | |
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LAPSE/GRACE PERIOD EXTENSION | |
COVID-19 is dramatically affecting many clients, both personally and financially for some. With that in mind, we’ve revisited our policy grace and lapse situations by extending payment due dates — similar to how we respond to natural disasters. | |
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We will be continually updating the Transamerica COVID-19 landing page as new details become available. Please bookmark this page and check back for updates. Thank you again for all you do. Together, we’ll weather this storm. |
Tips
Putting policies in-force. Remember that most of our carriers will accept the initial premium to be paid via bank draft. Clients do not need to mail in a paper check.
8 Knockout Approaches to Virtual Networking
Watch – Working Virtually With Clients for the NON-Tech Savvy Advisor (from LifeHappens.org)