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NEW | Improved underwriting requirements for life insurance over $3 million

April 25, 2024

Your feedback is important to us. We have listened and improved our underwriting requirements to make it easier and quicker for your clients applying for life insurance over $3 million.


What are the changes?

Currently, a Motor Vehicle Report is required for applications over $3,000,000, which may be time-consuming for both you and your clients. Our goal is to simplify the underwriting process and continue improving your client’s experience.

Effective April 29, 2024:

  1. Motor Vehicle Reports will no longer be required for Age and Amount.
           ▪️ Any new and pending routine MVRs will be waived.

  2. We will continue to order Motor Vehicle Reports for cause (history of impaired driving, excessive speeding violations, etc.)

Advantages for you and your clients

▪️ Simplification of the application process.
▪️ Reduced waiting times for underwriting decisions.


Updated documents

On April 29, 2024, the following links will be updated with the new grids:

▪️ F13-408A | Field Underwriting Guide - Life and CI Insurance
▪️ F13-166A-1 | Medical requirements


Topic : Insurance

Written by iA

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