Click Here to view EMSI’s landing page with updates for states and exam closures.
Full consideration based on pre-COVID underwriting guidelines for all ages. Banner will continue to postpone for new COVID diagnosis based on exposure and clinical severity.
Reconsideration Process: If you have a pervious case that was postponed due to the temporary guidelines, you may now send for reconsideration by submitted a new application.
At this time, Cincinnati Life is not waiving paramedical requirements. They are going through the cases they currently have in underwriting to determine if there are any cases that they have sufficient information at this time to make offers, even if they decide not to go after APS’s. Cincinnati Life is planning to use Statements of Good Health on all newly issued policies as a delivery requirement.
Updates as of 4/24
Effective 4/20/2020, we are implementing temporary changes to our life insurance underwriting guidelines for newly submitted applications received on or after 4/27/2020
Updates to their Intelligent Underwriting (accelerated underwriting)
Effective March 24, 2020, for any pending or newly submitted formal applications, Principal is offering additional solutions to underwrite without exam requirements. Their Principal Accelerated UnderwritingSM program may meet the needs of many, but they have also developed some temporary guidelines during this challenging time to help. Note, Principal will regularly review these guidelines and reserve the right to make changes at any time.
Applicant ages 18-40
Applicant ages 41-60
Digital health data or attending physician statements (APS)
Principal will initiate the requests for digital health data, including the use of patient portal information through the vendor Human API. They have other sources of digital health data as well, so please do not request patient portal information or traditional APS without first consulting with your Principal underwriter.
Effective immediately, Principal is implementing the contractual $1M premium limit on life insurance policies
Starting May 4, all term policies will be electronically delivered
Principal is now working with Human API to allow clients to share their medical records electronically when needed. Digital records are available to the underwriter in minutes rather than weeks. This safe and secure method keeps information protected and allows the underwriting process to keep moving. If you have questions, contact your case manager.
Updates as of 4/15
Updates as of 6/8
Updates as of 6/29
Temporary underwriting guidelines extended through July 31:
Principal Will No Longer Be Requiring Exams for the Following Amounts:
If Applying for Over These Amounts
With the clients permission (short email sent to the client), Principal will use their Human API technology to obtain the clients records / exams from their online portal that most doctor’s offices are now using. They would then work with their reinsurers on a case by case basis on using the clients lab results that were obtained from their portal, to make the offer without ordering labs. Going forward Principal will be using this service with all cases to speed up the records process while doctor’s offices may be bogged down with seeing patients.
Principal will do their best to just use the 2018 tax documents and any documents that may be available for 2019 in decision making.
Updates as of 6/29/2020
Temporary benefit update guidelines and grace period extension ending:
Currently, Protective can potentially use a full exam/bloodwork from a PCP if done over the last 12 months but it is on a case by case basis. For those cases that don’t have enough information to use they would probably be put on hold, but Senior management is looking at all options and as Protective gets any updates they will let you know.
Effective immediately, Protective will temporarily waive the witness signature on delivery requirements for life and annuity policies.
Good Health Statement
Effective March 26, 2020, any coverage approved on life insurance applicants aged 60 or older will require a Statement of Health to be signed on delivery.
Cash with Applications
Effective March 26, 2020, Protective will no longer accept cash with applications to bind coverage under the Temporary Insurance Agreement in the states of California and Kansas. Any premium submitted with California or Kansas applications as of this date will be returned.
Updates as of 4/17
Updates as of 7/28
Updates as of 4/30
Standard Will Accept More Applications With No Labs or Exams.
Starting immediately until May 31, 2020, labs or exams are not required for applicants of all ages for:
|Product||Maximum Monthly Benefit|
|Business Overhead ProtectorSM||$25,000|
|Business Equity ProtectorSM||$1,000,000|
Standard will accept applications signed on or before May 31, 2020, under the new guidelines. Their underwriters are reviewing open cases and will process those that qualify under the new guidelines.
Please note, Standard may also waive labs and exams for applicants seeking higher benefit amounts, depending on medical history and other information available. Please contact your underwriter directly if you have a case you’d like reviewed.
Updates as of 4/15
Premium payment grace period has been extended to 91 days for all individual disability insurance customers
Updates as of 4/17
Effective Immediately (4/17/2020) The Standard will no longer accept GME requests for Proposals on new programs. This will not affect existing programs.
Updates as of 4/28
BIR (Benefit Increase Rider) Changes
Updates as of 7/23
As we all adapted to the COVID-19 pandemic earlier this year, The Standard introduced several temporary guidelines to help customers get and keep IDI. On July 31, 2020, these temporary guidelines will expire and we’ll return to our normal guidelines with one exception. We’ll continue to not require labs or exams for some applications through Sept. 30, 2020. Click here for details