BMO Insurance is pleased to announce updates to our paper based application which is available for immediate use.
Application for Life and Critical Illness Insurance 126E
We have added to and improved sections in our Face-to-Face Life and Critical Illness Application Form.
Highlights include: - Sections 3 & 4, Information about the lives to be insured & Information about the policy owners - Added an optional request for the Insured’s and Owner’s e-mail address and mobile telephone number.
- New sub-section, 4.7 - Regulatory Verification of Identity and Tax Reporting: pulls all the regulatory questions into one convenient section.
- Improved Section 6.3, Critical Illness Riders and Other Riders – Added ‘Critical Illness Rider’ as an option.
- Section 10, Personal Information - Tobacco question updated to align with SmartApp and Tele-interview.
- Section 12.3, Medical history – Drug question updated to align with SmartApp and Tele-interview
- Section 20, Privacy and Personal Information and MIB Inc. Notice - Notice has been updated.
- Section 21, Temporary Insurance Agreement and Receipt - Terms and conditions of payment have been modified to provide better clarity.
The new paper version of this application (126E version 2021/07/01) can be ordered by contacting your MGA.
SmartApp
Updates to SmartApp where applicable are forthcoming, will be seamless and will not impact your in-flight cases.
Life Insurance New Business Quick Guide - Regulatory Requirements 928E
A new reference guide is now available that provides an overview of the relevant regulations and accompanying regulatory forms used in the life insurance new business lifecycle.
Transition Rules
The updated Face-to-Face Life Insurance and Critical Illness Insurance Application Form 126E (2021/07/01) can be used immediately. In order to avoid unnecessary delays or amendments, BMO Insurance strongly recommends the use of the new form, however the current version of the form (126E version 2020/06/01) will continue to be accepted until further notice. |
