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. 

Effective May 12, 2021:

  • Temporary underwriting restrictions (that have been in place since April 2020) will be lifted, and normal pre-COVID-19 underwriting guidelines will be in effect.
  • AIG will continue to require a current Statement of Health for all policy approvals.
Effective 07/01/2021:  American National discontinued most temporary COVID-19 underwriting guidelines.

Post COVID-19 updates that will remain in place
  • Will still only consider ages 80+ up to Table 4 with proof of vaccination.
  • Will still only consider ages 60–⁠79 greater than Table 4 with proof of vaccination.
  • Will review foreign travel on an individual consideration basis. In general travel to CDC level 3 and 4 countries will be postponed (may not be applicable in states where there are regulations on underwriting foreign travel).
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. 

 

Effective 07/20/2021:

  • Full consideration based on pre-COVID underwriting guidelines for all ages 
  • Banner will continue to postpone for new COVID diagnosis based on exposure and clinical severity. 
  • Click here for full details
Updated 6/9/2021:
 
Cincinnati Life is temporarily not accepting applications for the following:
  • Ages 60-79 with rating greater than Table 4 or Flat Extra greater than $5 per $1,000 due to medical impairments
  • Ages 80 and above

Updated 7/26/2021:

Equitable will discontinue all temporary COVID-19 guidelines for domestic business and reintroduce options for international clients.

The following changes will go into effect at that time:

  • International Underwriting Program (IUP) and Americans Living Abroad (Equitable Advisors and eligible third-party customers)
    • Return to traditional guidelines for acceptable countries who are U.S. State Departments level 3 or better
    • Applicants who reside in acceptable U.S. State Department level 4 countries may be considered if the following criteria are met:
      • Country is Level 4 due to COVID-19 only
      • Max age 65
      • Medically Standard or better
      • APS records available and reflect routine medical care
  • The COVID-19 amendment will continue to be added to applicable policies.

Up to age 65: normal underwriting guidelines
Ages 66-75:  Table 6 or better
Ages 76-79: Table 4 or better
Ages 80+ Postpone

Global Atlantic will continue to employ a prudent underwriting approach for cases at higher risk to Covid19 based on age and medical condition

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.

Effective April 11, 2022:

  • All cases meeting the following criteria will be postponed:
    • All ages, rated Table 5 and higher
    • Ages 81 – 85, all rate classes
    • All cases assessed with a Flat Extra greater than $10.00 per $1000
  • Postponement period updates for individuals who test positive for COVID-19:
    • For individuals who have managed a positive COVID-19 diagnosis at home (outpatient), the postponement period for an underwriting offer has been reduced to 10-calendar days from full recovery (previously 1- month). 
    • Note: There will be no changes to Lincoln’s postponement period for individuals who required hospitalization for treatment of COVID-19. Following full recovery, the underwriting offer will be postponed for 3-months, and an Attending Physician’s Statement (APS) will be required.
  • The validity period has been extended for the “Good Health Statement and Insurability Supplement” [formerly known as the Declaration of Insurability (DOI) Supplement - LFF11709]:
    • For issued cases in which Lincoln has received the signed Good Health Statement and Insurability Supplement – Form LFF12222, but await other outstanding administrative requirements, the Supplement will now be valid for 21 calendar days (previously 10 days)
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
Due to the overall improvement in the Coronavirus impact, Pacific Life’s temporary COVID-19 underwriting guidelines have been lifted, effective 6/30/21.
  • Ages 70 and below returning to pre-pandemic underwriting guidelines
  • Allowance up to and including Table 6 for ages 71-80
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.
  • Protective has reverted to pre-COVID-19 underwriting guidelines (no restrictions) for individuals who are 0-60 years of age
  • Ages 61-79: Protective will postpone coverage if individuals are rated higher than Table 4.  However, coverage can be considered with:
    • Evidence of completed COVID-19 vaccination (copy of vaccination card with name, vaccine batch number and date(s) administered).
    • At least two weeks since the final injection.
    • No history of immunodeficiency, impairments requiring IVIG treatment or prednisone dependency.
  • Protective will continue to postpone coverage on individuals who are age 80 and above.
  • Travel: Protective has reverted to pre-COVID-19 travel guidelines based on country and case-by-case consideration.
  • Statement of Health will continue to be required on delivery for all fully underwritten coverage on any applicant, regardless of age or face amount.

 
Human API for APS!
Effective May 2, 2022:
Clients between the ages of 65 and 79, individual applications will now be considered when:
  • The substandard rating class is Table F or lower.
  • A temporary extra premium is assessed with a total ≤ $30 per $1,000 (e.g., $10 x 3 = a total of $30) and a substandard rating of Table B or lower.

Clients between the ages of 65 and 79, survivorship applications will now be considered when:

  • The highest rated life is Table F or lower.
  • The highest rated life is Table G through T if the other life is Standard or better.

Applications for ages 80 and over will continue to not be considered.

Traditional Life Underwriting (includes underwritten policy changes)

  • Insurance age 81 and older: new applications will not be accepted. 
  • Insurance age 76 – 80: Applicants assessed at standard or better rates will be issued. All others will be postponed until at least March 31, 2022.
  • Insurance ages 71 – 75: Applicants assessed at Table B (150%) or better rates will be issued. All others will be postponed until at least March 31, 2022.
  • Insurance ages 61 – 70: Applicants assessed at Table D (200%) or better rates will be issued. All others will be postponed until at least March 31, 2022.
  • Insurance ages 60 and younger:  No rate class restrictions
  • Second-to-die policies will require both lives meet the rate class requirement for their respective ages. 

Money will not be accepted with new applications until at least March 31, 2022 and temporary insurance agreements will not be available during this time.

SecureCare Universal Life (UL) Underwriting

  • Mortality evaluation is back to pre-pandemic target of Table D (200%) or better for a SecureCare UL policy to be issued.
  • Money will not be accepted with new applications until at least March 31, 2022 and temporary insurance agreements will not be available during this time.

The WriteFit Underwriting program has been expanded and allows most clients to get through underwriting without an exam. Write Fit expansion to $3,000,000 for applicants age 18 – 50 will be permanent.

Effective November 9, 2021:
  • For cases to age 60:
    • Table 6 or better: Applications accepted
    • Table 7 or higher: Applications will not receive an offer and will be postponed until further notice
  • For cases ages 61 to 65:
    • Table 5 or better up to $500,000: Applications accepted
    • Table 2 or better over $500,000: Applications accepted
    • Table 3 or higher: Applications will not receive an offer and will be postponed until further notice
  • For cases ages 66 or older:
    • Table 2 (150%) or better: Applications accepted
    • Table 3 or higher: Applications will not receive an offer and will be postponed until further notice
  • Travel plans to a country with advisory Level 1 or 2 are acceptable, subject to answers on Covid-19 questions indicating no symptoms, positive test, or self-isolation.
  • Travel plans to a country with advisory Level 3 or 4 will continue to be a postpone until 30 days after return with no COVID-19 symptoms, positive test, or self-isolation.
SBLI's Accelerated Underwriting is an exam-free solution!  Available for ages 18-60 applying for up to $750k of coverage. No exams. No fluids. No fine print!
Effective July 6, 2021:
  • 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.
  • For all ages, Symetra will continue to require a Good Health Statement.
  • Symetra will not actively ask any clients about vaccinations or past COVID-19 exposure.
  • As announced last fall for the 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).
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 applicantions for clients over the age of 75 for all products except for their Final Expense Solutions Portfolio
  • Effective 1/1/2021: Transamerica has resumed accepting applications with Long Term Care (LTC) and Living Benefit Riders (LBRs) for insured ages 56-75, subject to normal underwriting requirements.

Effective May 24, 2021

Reinstating the FIT underwriting program for ages 18-75 except for those with co-morbid conditions 

  • Ages 0-59: the client is eligible for best risk class underwriting. *Please note: if they have a co-morbid condition resulting in a rating higher than Table 4, it may be postponed
  • Ages 60-79: Risk class must be Table 4 or better
  • Ages 80 and above: Temporarily postponed

A current statement of health is required on all policy approvals.

  • 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