Life and Health Insurance
Life and Critical Illness insurance: Improved underwriting requirements
We are pleased to inform you that we are changing our underwriting requirements for the better for life and critical illness insurance, specifically for higher insurance amounts. We also relaxed the requirements for older clients. These new requirements will reduce requests for medical exams and inspection reports and therefore expedite new business processing.
MAIN CHANGES:
- Addition of 2 bands of underwriting requirements for life insurance amounts greater than $3 million
- Medical exam is no longer required for life insurance amounts less than $5 million (under age 60)
- Inspection report is no longer required for life insurance amounts less than $3 million
- Attending physician statement is no longer required with Critical Illness insurance for certain ages and amounts
The new underwriting requirements will apply to all insurance applications signed effective May 21, 2013.
View and print the new underwriting requirements guidelines:
DOCUMENT UPDATES: INSURANCE APPLICATION AND POLICY CHANGE FORM
The new version of the Insurance Application as well as the Policy Change Form will be available on the Advisor Extranet site as of May 21.
Please note that all previous versions of the Insurance Application and Policy Change Form will be accepted until July 2, 2013. After this date, only the new versions (05-2013), will be accepted.
NEW VERSION OF THE ILLUSTRATION SOFTWARE
Please make sure to visit the SSQ Insurance Advisor’s Page on May 21 to download the latest version. The new underwriting requirements as well as the new Insurance Application and Policy Change Form will be updated in version 2.1 of the Illustration Software.
We thank you for your continued support. For more information, please contact the regional sales office nearest you.