COVID-19 Life Insurance Carrier Updates

Our life insurance carriers are making guideline adjustments in response to COVID-19.  Below you will find highlights from each carrier, many of which are trying to allow for alternatives to paramed exams if the client meets certain criteria.  Please keep in mind these guidelines are temporary and are subject to change.

Click on the carrier's logo to view the news article with additional information. 

For individuals over age 75, all cases will be postponed.
Ages 66-75, all rated cases inclusive of all medical flat extras will be postponed.
Ages 50-65, all cases assessed greater than Table D and/or all medical flat extras will be postponed.
Ages <50, all cases assessed greater than Table D and/or all medical flat extras will be postponed
 The following ages are being postponed at this time. 
  • Ages 80+: Postpone all cases until COVID-19 pandemic contained 
  • Ages 60-79: Postpone all cases that require a rating of higher than table 4 or flat-extra of $5 per thousand or more for a medical reason. 
  • Ages 70+: NIA/Good Health Statement is required on all cases.
Applications for life insurance are not currently being accepted on clients age 70 and older. No changes have been made to issue limits at this time.
Assurity has temporarily suspended the practice of offering conditional receipt coverage upon application submission for all life insurance products. 


Human API for APS!
An applicant’s recent routine physical will be accepted in lieu of a paramed exam if it has sufficient data and if the trending rate class based on other evidence does not exceed table 3, does not require a medical flat extra and there is no evidence of material non-disclosure.
 
Applicants in the below age ranges whose assessed risk class exceeds rated table parameters AND the risk profile includes any of the referenced underlying chronic conditions will be postponed for a minimum of 6 months:
  • Ages 55-64 and risk profile exceeds Table 6
  • Ages 65 -70 and risk profile exceeds Table 4
  • Ages 71+ and risk profile exceeds Standard
Cincinnati Life is temporarily not accepting applications for the following:
  • Ages 60-79 with rating greater than Table 2 or any flat extra due to a medical impairment
  • Ages 80 and above
  • Maximum rating: Table D or equivalent rate for proposed insured ages 18-69
  • For ages 50-69, coverage is not available on proposed insureds who are both assessed at Table D AND are being rated for any of the following medical conditions: Coronary Artery Disease, Diabetes Mellitus, Hypertension, Asthma, Chronic Obstructive Pulmonary Disease, Chronic Kidney Disease or Disease treated with an Immunosuppressant 
  • Over age 70: Must be Standard or better
  • Maximum issue age is 80

Individuals ages 70-79 can be considered, standard or better only, up to $10 million.
Postponing applications for individuals up to age 69 with a rating class higher than Table 4.
Individuals with chronic underlying conditions at higher risk to COVID-19, including but not limited to, (obesity, cardiovascular disease, diabetes, lung disorders, cancer, and disorders requiring immunosuppressive therapy) will be underwritten more prudently during this time.

For applicants ages 18-60, up to $2 million face amount:
If the applicant lives in a location where a paramed exam and labs cannot be completed, other potential methods for providing the required information can be considered (for example, submission of a physical examination and labs completed by a personal physician within the prior 12 months)

Human API for APS!
John Hancock has resumed accepting and processing applications on individuals up to and including age 90
John Hancock will routinely consider recent medical records as an alternative to a current paramed or exam:   
    i.  Face amounts up to $5 million for ages 18-65
    II. Face amounts up to $3 million for ages 66-70
For these cases, medical records should include a comprehensive visit with a physical and labs within the last 12 months, accompanied by a completed Part II medical supplement form.
All cases meeting the following criteria will be postponed:
  • Ages 65 and under: rated Table 5 and higher
  • Ages 66-69: rated Table 3 and higher
  • Ages 70-79: all substandard rate classes
  • Ages 80-85: all rate classes
  • All cases assessed with a Flat Extra greater than $7.50 per $1000
  • All cases assessed with a Table Rating and Flat Extra
Nationwide will consider alternative sources of medical information, through issue age 60, when an exam is necessary for both traditional business and for their Intelligent Underwriting process.
  • Ages 0 - 60:  Maximum rating of Table 6
    • Maximum Flat extra = $9.00 per thousand
  • Ages 61 - 70: Maximum rating of Table 4
    • Maximum flat extra = $6.00 per thousand
  • Ages 71 - 75: Maximum rating of Table 2
    • Maximum flat extra = $3.00 per thousand
  • Ages 76 - 79: Standard.  Case cannot be rated or have a flat extra.
  • Ages 80 and up: No offer - Postpone
Pacific Life will use other available data sources to underwrite in lieu of in-person exams for issue ages 60 or younger, up to $1 million, Standard or better risk class.
Smooth Sailing is available for ages 50-69! 
Pacific Life is able to extend offers to PL Promise GUL and PL Promise Term applicants who are:
  • Aged 71-80 at Standard or better risk class, and
  • Aged 70 and below up to Table Four.
Human API for APS!
Get your clients started with Accelerated Underwriting!
Principal is offering additional solutions to underwrite without exam requirements through age 60.
  • Up to age 59: maximum table rating of either Table 6 or a flat extra of $10.00/1000
  • Ages 60-80: maximum table rating of either Table 2 or a flat extra of $5.00/1000
  • Ages 81+ will not be considered at any rate class until further notice
  • For survivorship cases, both lives need to meet the new guidelines.
  • Risks with a combination of a table rating and flat extra will be postponed.
  • Postponing coverage on individuals who are age 80 and above.
  • Ages 70 - 79: Applicants must qualify for Standard or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death.*
  • Ages 60 - 69: Applicants must qualify for Table 4 rating or better and have no significant underlying medical condition or treatment that makes them more susceptible to COVID-19 death.*
  • Ages 0 - 59: Protective will consider applicants with all medical impairments through Table 4. Applicants rated over Table 4 will be considered on a case-by-case basis if the individual has no significant underlying medical condition or treatment that makes him or her more susceptible to COVID-19 death.

 
Human API for APS!
Fast Track eligibility increased to $3 million up to age 60!
  • Postponing cases age 65 & up with Table D or higher rate class.
    • At ages over 60, this same guidance may apply, and Prudential will pay special attention to a history of ratable coronary artery disease and immunodeficiency disorders. 
  • Postponing any case with chronic respiratory condition.
  • Not accepting applicants for clients ages 80 and up.
  • Not accepting prepaid cases.
The WriteFit Underwriting program has been expanded and allows most clients to get through underwriting without an exam.
  • Maximum issue age is 75 for all life products including SecureCare Universal Life (excluding Advantage Elite Select Term Life 15, 20, and 30);
  • Insurance ages 61 through 75: Applicants assessed at Standard or better rates will be issued. All others will be postponed until at least December 31, 2020.
  • Insurance ages 51 through 60: Applicants assessed at Table C (175%) or better rates will be issued. All others will be postponed until at least December 31, 2020.
  • Insurance ages 50 and younger: Applicants assessed at Table F (250%) or better rates will be issued. All others will be postponed until at least December 31, 2020
  • SecureCare UL-  Ages 75 and younger: mortality evaluation will need to be standard or better for a SecureCare UL policy to be issued. Applicants who would be table rated for mortality purposes will be postponed until at least December 31, 2020.
For cases aged 59 or younger: if rated Table 7 or higher, SBLI is postponing applications until further notice. 
For cases aged 60 or older:  if rated Table 3 or higher, SBLI is postponing applications until further notice.
SBLI's Accelerated Underwriting is an exam-free solution!  Available for ages 18-60 applying for up to $500k of coverage. No exams. No fluids. No fine print!
Up to age 70 and up to $5 million, Symetra will consider cases on a case-by-case basis where a paramed exam cannot be completed, if insured has had a complete physical within the past 12 months which includes blood work results.
  • Ages 80 and above: Postpone 45 days
  • Ages 70-79 (all risks over Standard Non-Nicotine): Postpone 45 days
  • 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.
Transamerica is offering additional options to satisfy medical requirements which includes increased non-medical guidelines through age 55.
  • Ages 56-75:  Rated over Table B for CAD, Cancer, Respiratory, Hypertension and diabetes, will require referral to MD for consideration
  • Not accepting applicants for clients over the age of 75.
  • Unable to offer LTC Riders or Chronic or Critical Living Benefit riders on individuals ages 56-75.

Mutual of Omaha is temporarily suspending the FIT Underwriting Credit program for all insureds age 60-79

  • Ages 0-59: if the individual has co-morbid conditions resulting in a rating higher than Table 4, it may be postponed. Mutual of Omaha is suspending the FIT Underwriting Credit program for insureds age 0-59 with co-morbid conditions.
  • Ages 60-69: Must be rated a Table 2 or better. 
  • Ages 70-79: Must have Standard or better risk classification.  
  • Ages 80 and above: Temporarily postponed
  • For Issue Ages up to 60:  Zurich will continue to make offers on cases that are Table H or better, except if one of the following COVID-19 comorbidity conditions exists (click here for the list). 
    • If one of the following conditions exists, Zurich will make offers on cases that are Table D or better.
  • For Issue Ages 60-69: Zurich will continue to make offers on cases that are Table D or better.
  • For Issue Ages 70-79: Zurich will continue to make offers on cases that are Table B or better.
  • For Issue Ages 80-85: normal guidelines apply; insured must be Standard or better