Business Underwriters Associates, LLC

AIG: Non-Medical Underwriting Limits Increasing to $1 Million for Certain Products

11-12-2020

Effective November 21, 2020, AIG's non-medical underwriting will be expanded to include eligible cases with face amounts up to and including $1 million. The previous face amount limit was $499,999. This expansion builds on continued enhancements to the automated underwriting capabilities which allow for faster decisions and increased straight-through processing for non-medical cases.

To improve underwriting efficiency, guidelines for underwriting classes and Part B submission methods will also be revised:

  • Standard to Preferred Plus will be available through non-medical underwriting. Sub-Standard classes are no longer available. (Note that Table A and B are included in the Standard rate class through the Expanded Standard program)
  • Part B application/medical information may only be completed by the tele-interview vendor. Submitting an agent-completed Part B will create duplication and delays, and should be avoided.

Non-medical underwriting remains available for the same ages on the same products, Max Accumulator+ II and Platinum Choice VUL 2. When applicable, the ability to pivot to medical underwriting remains available

Non-Medical Underwriting Guidelines-  Effective for applications received on or after November 21, 2020

Products

  • Max Accumulator+ II: Ages 0 ‒ 50*
  • Platinum Choice VUL 2: Ages 18 ‒ 50
*Ages 18–50 in the state of New York.

Face Amount $1,000,000 or less

UW Classes: Preferred Plus Non-Tobacco, Preferred Non-Tobacco, Standard Non-Tobacco, Preferred Tobacco, Standard Tobacco

Part B: AIG-ordered Part B tele-interview required

 

Tips for a Streamlined Submission

  • Use digital submission for the fastest turnaround. Applications for non-medical underwriting submitted through the digital submission options (AG Quick Ticket and iGO eApp) are often issued within 5 business days when the application is initially received in good order.
  • Leave the Part B to AIG. The Part B must be completed through the tele-interview vendor. While Paper Part A applications are accepted, electronic application submissions provide FASTER turnaround times. Submitting an agent-completed Paper Part B will create duplication, and should be avoided.
  • Include all forms that may be needed. This includes all of the forms in the standard application package such as the HIV Form. Make sure they are fully completed and in good order.
  • Do not schedule the paramedical exam for any case that falls within the product, age or face amount parameters, regardless of rate class. If an exam or labs are necessary, AIG will order them.
  • Let AIG know in advance if you will want the case to proceed to full underwriting. Indicating this on the application submission (coversheet, transmittal form, etc.) will save the time needed to contact you to determine next steps if an exam or labs are required.
  • Ensure your client is prepared for the tele-interview and has medical information needed. Refer to the Non-medical product underwriting brochure for tele-interview vendor details and additional preparation tips ‒ Note: The tele-interview vendor will call the client after receiving and processing the case information. If the client is unable to answer the phone, the interviewer will leave a voice-mail message with instructions and a telephone number for the client to call.
    • For cases submitted by Quick Ticket, the ExamOne tele-interview phone line is 888-876-3407.
    • For cases submitted by iGO eApp or paper application, the CRL Plus tele-interview phone line is 877- 243-2448.
  • What happens if full underwriting is needed to make an offer?
    • The “No Exam or Labs Required” requirement in Connext will be canceled with a corresponding new requirement showing "Non Medical Ineligible - Labs Required."
    • The New Business team will first attempt to identify from the application submission for indication to proceed to full underwriting. If this is not provided, AIG will contact the agency to determine next steps.
    • If AIG receives a "Yes" answer to proceed with labs, the case will become fully underwritten. AIG will order the labs and exam.
    • If AIG receives a "No" answer to proceed with labs, the case will be Withdrawn.

Please give us a call at 1-800-792-6795 if you have any questions about this process or if you need assistance with illustrations or the application process.