Business Underwriters Associates, LLC

Symetra: Important underwriting updates

07-01-2021

**07/01/2021**

Today, thanks to declining U.S. COVID-19 cases Symetra is happy to announce that they are removing most restrictions effective Tuesday, July 6th.

Key Highlights:

  • For all ages, Symetra will continue to require a Good Health Statement.
  • For all cases up to age 79, Symetra is now applying routine underwriting assessment and criteria. Their underwriting team will continue to conduct a thorough review for all cases with co-morbidities.
  • Cases for ages 80 and above will continue to be postponed.
  • Symetra will not actively ask any clients about vaccinations or past COVID-19 exposure.
  • As announced last fall for their high-net-worth foreign national market program, Symetra has reverted to their pre-COVID underwriting capabilities (for A and B countries up to $20 million in capacity).

These guidelines apply to new formal and informal cases, as well as any submitted cases that are still in underwriting review.  Symetra will continue to monitor updates from the U.S. Department of State, the CDC and other local, state and federal agencies, and they reserve the right to adjust these guidelines as conditions warrant.

**10/14/2020**

Last spring, as a result of COVID-19, Symetra announced several temporary changes to their underwriting guidelines. Symetra is pleased to announce that they are easing some of these restrictions, effective immediately.

Key Highlights:

  • For ages 60 to 69, Symetra is now applying routine underwriting assessment and criteria.
  • For high-net-worth foreign national market program, Symetra has reverted to their pre-COVID underwriting capabilities (for A & B countries up $20 million in capacity).

Please see the information below for additional details and requirements.

All cases: A Good Heath Statement will be required.

Ages 70 and above:  No changes to the previously communicated guidelines.

Ages 66 and above with co-morbidities: Proposed insureds having one or more of the following co-morbidities or a single co-morbidity rated Table 2 or higher will automatically be postponed. Co-morbidities include coronary artery disease, diabetes, pulmonary issues, obesity and immunosuppression disorders.

Ages 65 and above who vape: If the proposed insured vapes or uses vaping products, the case will be declined.

Smokers: Smokers who are not Standard or better will be postponed.

These guidelines apply to new formal and informal cases, as well as any submitted cases that are still in underwriting review.

Symetra will continue to monitor updates from the U.S. Department of State and CDC, as well as other local, state and federal agencies, and they reserve the right to adjust these guidelines as conditions warrant.

 

** Guidelines updated on 04/15/2020 **

Effective Wednesday, April 15, 2020, until further notice Symetra is announcing temporary changes to the underwriting guidelines as they relate to older ages, smokers and clients with additional comorbidities. These Changes are detailed below.

  • Ages 80 and above: Postpone 45 days
  • Ages 70-79 (all risks over Standard Non-Nicotine): Postpone 45 days
  • Ages 66-69 (all risks over Table 2 Non-Nicotine): Postpone 45 days
  • Ages 60-65 (all risks over Table 4 Non-Nicotine): Postpone 45 days

These guidelines will apply to new formal and informal cases, as well as any cases that are currently with Symetra where an underwriting decision has not been made.
 

** Original update from 03/24/2020 **

The COVID-19 situation continues to progress at a rapid rate. As such, Symetra is constantly assessing their guidelines and procedures to ensure that they are evolving with these unprecedented events.  To ensure that their business procedures are aligned with these principles, Symetra will be implementing the following underwriting changes effective today.

  • For applicants up to age 70 and face amounts of up to $5 million, Symetra will consider cases on a case-by-case basis where a paramed exam cannot be completed, but the insured has had a complete physical within the past 12 months which includes blood work results.
  • Until further notice, a Good Health Statement (Supplemental Statement of Health) will be required to be signed at policy delivery on all cases or prior to initiating any 1035 exchange. The Good Health Statement will attest that there has been no change to the applicant’s health status.
  • Any permanent resident or U.S. citizen who has traveled internationally within the past 30 days will be postponed for 30 days from the date of their return, unless prohibited by state law. Applicants with future plans to travel internationally in the next 60 days will also be postponed.
  • Anyone who has been diagnosed with COVID-19 will be postponed for at least 30 days and be reconsidered at that time with APS information indicating the virus has cleared and health status has returned to baseline.
  • Anyone who has been exposed with COVID-19 will be postponed for 30 days and be reconsidered at that time with evidence showing no infectious process.
  • For those cases that are not already a decline, any informal or formal case over age 70 with co-morbidities that cause the risk to be Table 4 or above (these conditions are diabetes, obesity, coronary artery disease, respiratory disorders), will be postponed for 90 days.
  • All of the guidelines listed above will also apply to high-net-worth foreign national program, which Symetra continues to monitor closely.

Symetra will continue to monitor and work closely with the paramedical vendors, lab processing centers and medical record providers, who have all implemented their business continuity plans.

Please let your BUA Brokerage Sales Consultant or Internal Wholesaler know if you have any questions regarding these guidelines.