Securian: Underwriting Updates in Response to COVID-19
As the COVID-19 situation continues to evolve, Securian Financial Underwriting remains focused on delivering strong service and solutions.
During this time where paramedical exams may be limited, WriteFit Underwriting is the optimal solution as your client has the potential for a fluid-less experience. Over 60% of submissions do not require a physical exam. WriteFit is available for ages 18-50 up to and including $2 million and for ages 51–60 up to and including $1 million. Opt-in to WriteFit on eApp.
Securian understands that WriteFit may not be conducive for every sale, which is why they have decided to leverage the WriteFit program to update their guidelines.
- For submissions where WriteFit is available but not selected (such as a paper application) and state mandates restrict completion of a physical exam or medical records, Securian will be able to proceed in one of two ways.
- First, they can await receipt of a completed physical exam and/or medical records.
- Secondly, if you do not desire to wait for completion, alert your underwriter. Your underwriter will leverage WriteFit underwriting guidelines and tools to drive towards a decision that won’t require a paramedical exam (note: stretch criteria will be unavailable).
If state mandates restrict completion of a physical exam or medical records for situations where WriteFit is unavailable or your client is deemed ineligible for WriteFit, your underwriter will be available to review on a case by case basis. (Note: this excludes cases for insurance age 70+ or face amounts above $2 million).
Additionally, Securian has taken the following stances at this time regarding COVID-19:
- If an applicant has planned travel/residency to a restricted area as deemed by the CDC within the next six months, a postponement may be warranted.
- If an applicant has symptoms matching COVID-19, a postponement for evaluation until 4 weeks after full recovery may be warranted.
- If an applicant has been tested and deemed positive for COVID-19 and has experienced:
- Mild symptoms with no hospitalization – postponement may be required until confirmation is received 4 weeks post recovery by a healthcare provider.
- Moderate to severe symptoms and/or hospitalization was required – postponement will occur until current evidence of good health by a medical practitioner (APS) is received more than 4 weeks post recovery.