Leo Penney: Just spoke with an underwriter about a decline that made no sense on one of our cases. I thought it should have been 200%, which is what Manu would have rated except he had been declined within the past year by TD. I'm told Karen Cutler, their chief underwriter, just issued a directive that any case that has been declined by another carrier within the past year will now be declined by Manu during the covid19 epidemic.
April 13th, 2020: Keeping insurance applications and contracts moving despite COVID-19
April 9th, 2020: Extending payment grace periods
We’re taking our industry leading testing limits to a new level on a temporary basis – your healthiest non-smoking clients can now get coverage without fluids for Term, UL and Par cases.
Ages 18-50 $2mm or less (previous limit $1mm)
Ages 51-60 $1mm or less (previous limit $100,000)
We estimate about 50-60% of applicant’s currently tested in the expanded ranges won’t need to be tested.
Healthstyle 3 rates will apply, HS 1 & 2 will not be available.
We will follow the established Accelerated program - we will request biometric testing for higher risk cases:
Examples of when we may request biometric tests include, but are not limited to, applicants who:
If your client has been declined by another insurer in the last 12 months, don’t submit them for consideration under this temporary program.
We’ll be running our smoking algorithm on these cases, and some clients may require testing as a result of the analytics tool.
We will proactively review pending cases to see if we can waive the fluid testing that has already been requested.
Underwriters will be following these rules starting April 8, 2020.
Covid-19 Resources -- Infosource (March 26th, 2020)
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COVID-19: To stay current on this challenging and ever-developing situation, click here
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