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Evidence of Insurability

   Also found in: Acronyms 0.01 sec.
Evidence of Insurability
Documentation that an applicant for life or health insurance is sufficiently healthy to be sold a policy. Many policies do not require evidence of insurability, but others mandate a health exam prior to the policy's issue.


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Available options include a survivor purchase-option rider, which allows the surviving insured to buy a new Phoenix policy without evidence of insurability, and a policy exchange-option rider, which insureds can exchange for two single-life policies, also without evidence of insurability.
The insurance is provided to all full-time employees of the employer or, if evidence of insurability affects eligibility, to all full-time employees who provide satisfactory evidence of insurability to the insurer.
com include: * Online Evidence of Insurability (EOI) - Now, an employee can submit an EOI application for disability or life coverage in 10 to 15 minutes.
 
 
 
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