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LIFE UNDERWRITING REQUIREMENTS GUIDE |  |
This guide summarizes various LIFE underwriting requirements and new business procedures. The requirements are in addition to the appropriate application, applicable supplements, disclosures, sales materials, and illustrations requirements. It is intended as a guide to help you complete your new business transactions quickly and efficiently.
More detailed instructions on underwriting, issue, premium rules and administrative procedures are included in the Life Product Manual available on Guardian Online and in the Agency Office Manual. All plan and rider provisions apply.
The underwriting requirements are based on the total amount currently being applied for in all companies plus any insurance issued and applied for in the last six months. If applying for Guaranteed Purchase Option (GIO), Whole Life Purchase Option (WLPO), and/or Accidental Death Benefit (ADB), the underwriting requirements are based on the total first year coverage (face amount plus riders) and would not include the GIO or ADB amount. The Home Office will order a motor vehicle report on all cases when Accidental Death Benefit (ADB) of $100,000 or above is being requested. (Always include the Driver’s License # in the appropriate section of the application when an MVR is required.)
In general, underwriting requirements completed within the last six (6) months are considered current. The underwriter has the discretion to require a Health Certificate or current nonmedical supplement to update the original application Part 2.
The underwriter reserves the right to order any additional requirements as deemed necessary.
Always use an approved paramedical facility for all medical underwriting requirements. For applications at face amounts of $5,000,000 and greater, an examination by a board certified internist or cardiologist is necessary. Examinations by a proposed insured’s personal physician will not be accepted.
Additional Notes:
For Juveniles: A fully completed juvenile application is accepted for amounts through $250,000. For amounts greater than $250,000: For ages 0-9, examination on Form M172 completed by physician (attending pediatrician is acceptable) is required; For ages 10-14, examination by a paramedical examiner on exam form part 2 may be used for amounts up to $500,000 – a physician for higher amounts. A Grandparent Ownership Form (722-36) must accompany a juvenile application when a grandparent is to be the owner of the insurance policy.
For Survivorship: The underwriting requirements are based on 60% of the total death benefit, except for laboratory requirements (i.e., blood and/or urine), which are determined at 100%.
More detailed instructions on underwriting, issue, premium rules and administrative procedures are included in the Life Product Manual available on Guardian Online and in the Agency Office Manual. All plan and rider provisions apply.
The underwriting requirements are based on the total amount currently being applied for in all companies plus any insurance issued and applied for in the last six months. If applying for Guaranteed Purchase Option (GIO), Whole Life Purchase Option (WLPO), and/or Accidental Death Benefit (ADB), the underwriting requirements are based on the total first year coverage (face amount plus riders) and would not include the GIO or ADB amount. The Home Office will order a motor vehicle report on all cases when Accidental Death Benefit (ADB) of $100,000 or above is being requested. (Always include the Driver’s License # in the appropriate section of the application when an MVR is required.)
In general, underwriting requirements completed within the last six (6) months are considered current. The underwriter has the discretion to require a Health Certificate or current nonmedical supplement to update the original application Part 2.
The underwriter reserves the right to order any additional requirements as deemed necessary.
Always use an approved paramedical facility for all medical underwriting requirements. For applications at face amounts of $5,000,000 and greater, an examination by a board certified internist or cardiologist is necessary. Examinations by a proposed insured’s personal physician will not be accepted.
Additional Notes:
For Juveniles: A fully completed juvenile application is accepted for amounts through $250,000. For amounts greater than $250,000: For ages 0-9, examination on Form M172 completed by physician (attending pediatrician is acceptable) is required; For ages 10-14, examination by a paramedical examiner on exam form part 2 may be used for amounts up to $500,000 – a physician for higher amounts. A Grandparent Ownership Form (722-36) must accompany a juvenile application when a grandparent is to be the owner of the insurance policy.
For Survivorship: The underwriting requirements are based on 60% of the total death benefit, except for laboratory requirements (i.e., blood and/or urine), which are determined at 100%.
