Underwriting Updates from AIG
After reviewing the current COVID-19 Underwriting Guidelines against the latest medical research, AIG revised their guidelines for cases where the applicant had a medical condition (co-morbidity) which potentially made them more susceptible to COVID-19 and its more severe health impacts.. This applies to both new submissions and cases that have been paused or postponed.
Cases with only one of the allowed co-morbidities noted below may be allowed if the co-morbidity is the only reason the case was, or would be, paused or postponed, and the applicant is under 70 years of age.
- Diabetes - Allow history of Type 2 diabetes showing optimal control (A1C less than or equal to 7.0%)
- Cardiovascular/ Cerebrovascular (stroke) - Pause if history of true coronary artery disease, cardiac arrhythmias, heart failure or stroke history. Individual case consideration for valvular disorders (e.g., mitral regurgitation, MVP, heart murmur)
- Respiratory/ Asthma - Allow history of allergic asthma. Pause if history of non-allergic asthma (exerciseinduced) No change COPD or OSA
- Malignancies - Allow Stage 1 or remote history of cancer (greater than 5 years) Pause if any history of lymphoma or leukemia
- Immunosuppression Medication - Allow individuals taking these medications, unless other co-morbid conditions exist
- Ulcerative colitis and Crohn’s disease - Allow if UC or CD is in remission over 1 year
- Hypertension - Allow controlled hypertension (less than or equal to 155/95)
What is not changing?
- Statement of Health (PHS) still required on all policy approvals.
- For individuals aged 70+, all cases postponed.
- Substandard guidance remains unchanged, though we will have the ability to make some substandard decisions (nothing greater than Table D) depending on individual case co-morbid conditions.
- Build/BMI guidance.
- Foreign travel guidance.
AIG has already pulled a list of in-house paused and postponed applications that fit the parameters and are starting to review them. We will contact you if we are able to re-open any of your cases. Please note: Not all cases will qualify. Cases will be reviewed individually to evaluate co-morbid conditions and overall risk. Credits will not be used to improve ratings so a case qualifies for coverage.
AIG is actively monitoring the fast-moving developments of COVID-19 and continually reassessing their business practices. As such, they are implementing the underwriting actions outlined below. When the situation has improved, it will be their goal to revert to their normal standards quickly.
- Any case where the proposed insured has been diagnosed with COVID-19 will be postponed for 30 days. These postponed cases may be reconsidered after 30 days from full recovery when submitted with APS information indicating that there is no evidence of current infection from COVID-19 and health status has returned to previous level.
- Any case where the proposed insured had known exposure to COVID-19 will be postponed for 30 days.
- Any case 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. This approach is subject to change as the situation continues to evolve.
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 the current case closeout rules.
AIG will continue to monitor and work closely with paramedical vendors, lab processing centers and medical record providers. They will continue to closely monitor this evolving situation and provide updates. Thank you for your continued loyalty and partnership.
Please give BUA a call at 1-800-792-6795 with any questions about these updates.