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Even more flexibility in our underwriting requirements
We recently announced temporary easing of our underwriting requirements measures for insurance applications signed as of March 11, 2020. Applications signed before this date fall under separate pending application rules already communicated on a case by case basis.
In our March 31 communication, we mentioned that no underwriting requirements will be required on life insurance applications for at least the next 30 days for ages between 16 to 45 and for amounts up to $750,000 (inclusively).
We now offer even more flexibility!
New Business
We have now extended these temporary flexibility measures even further for new life insurance business. Effective immediately, no underwriting requirements will be required for life insurance applications, for ages between 16 to 50 and for amounts up to $ 1, 000,000 (inclusively).
These new temporary measures are applicable until at least April 30, 2020 but may change or be extended depending on the evolution of the COVID-19 pandemic.
Note: No preferred risk for ages between 16 and 50.
In-force Business
You can continue submitting requests for changes that require evidence of insurability, such as a change to non-smoker status or a revision of rating. The request will be processed only when the required tests are obtained. The decision will be applied retroactively to the date of receipt of the request.
We will then adjust the premiums and refund the difference, if necessary.
Launch of a new dedicated web page
We know that our communications and this uncertain period can generate a lot of questions for you and your clients. In order to respond as adequately as possible to these concerns and ensure all the information communicated is at your fingertips, we have set up a new web page that includes all of the information that impacts you closely. The new web page is accessible from the SSQ Insurance home page.
Consult your new web page regularly
Given the speed of developments under the current circumstances, we invite you to watch for further communications and consult this new web page regularly since we will post important information there for you and your clients. You will therefore always be informed in real time!
