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New underwriting guidelines: Marijuana use
Insurance eligibility for individuals with a student visa
A new pre-screening guide to give you more autonomy
Non-Face-to-Face sales are now possible with Desjardins Insurance!
New underwriting guidelines: Marijuana use
Following the announcement made this summer, here are the new Desjardins Insurance medical underwriting guidelines for marijuana users (i.e., cannabis, pot and hashish).
Guidelines
Clients who use marijuana will now be granted preferred non-smoker rates regardless of the quantity consumed, provided they don’t use tobacco in any form whatsoever. The guidelines apply to all submitted amounts and chosen coverage (life, critical illness, disability, etc.). Desjardins Insurance has been applying these new guidelines since June 20, 2016.
New applications
Until all application forms are updated, clients must answer “yes” to the question about tobacco use (question 4 in section F5 of the paper application or under Mandatory Questions in the Insurability section of DSign). It’s important that clients indicate that the “yes” response is linked to marijuana consumption only (no tobacco use), and to specify how much and how often they use marijuana.
In-force policies
Preferred rates may be requested for in-force policies according to the above-mentioned guidelines. The review process is the same as the current one for submitting requests to change rates from regular (smoker) to preferred (non-smoking).
Please note
1) Although marijuana is no longer considered a tobacco product from an insurance standpoint, it is still a drug and must be declared (question 18 in section F6 of the paper application or under Supplementary Questions in the Insurability section at the question on drug use of DSign).
2 ) Depending on the quantity of marijuana consumed, the application could be rated or declined.
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Insurance eligibility for individuals with a student visa
Individuals with a student visa can now submit an insurance application if they:
· Have been in Canada for at least 3 months
· Select a maximum coverage amount of $100,000 for permanent life insurance without any additional benefits
· Provide proof that they submitted their permanent residency application
· Basic requirements are para/blood profile, including test results for hepatitis
· Come from a country which has an acceptable health risk level
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A new pre-screening guide to give you more autonomy
The new pre-screening guide is now available!
Comprehensive and easy to use, this new tool will help you check whether an individual is eligible for insurance.
The document provides an overview of the decisions for certain conditions.
The final decision could differ depending on the files submitted.
A combination of medical factors can also result in a less favorable outcome.
If an applicant is being medically assessed, please wait for the results before submitting the application.
If an applicant plans on travelling to a high-risk country for a short period, please wait until they return before submitting the application.
This pre-screening guide is available on Webi.
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Non-Face-to-Face sales are now possible with Desjardins Insurance!
Do you ever need to cover long distance just to meet with your clients for identification purposes?
Now you can skip the trip!
CONDITIONS :
· DSign: you must complete the electronic application and use the electronic signature
· The policyowner must be one of the proposed insured
· A medical requirement (urine, paramedical exam, blood profile, etc.) is needed (see illustration)
· You must select Dynacare as the provider
AUTHORIZED LIMITS :
· Life : $5,000,000
· Critical illness : $500,000
· Disability : $5,000
· Healthcare : non applicable
IT’S EASY!
· Enter “Non-Face-to-Face: Identity verified by an authorized representative” in the Special Instructions section of the electronic application
· Enter “99999” as the ID number in the Identification of policyowner section
Dynacare will identify your client for you.
The contract delivery should be in person or by registered mail.
Please note
The representative must have the adequate licence to operate in the province of residence of his client.
Now, what’ll you do with all the time you saved?
