Evidence of Insurability


Also found in: Acronyms.

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.
References in periodicals archive ?
Answer: The companies that offer AL policies realize that the flexibility to increase the face amount is not that significant if increases require evidence of insurability. Consequently, most companies offering AL policies issue them with guaranteed purchase or insurability riders.
By considering the results of adverse exercise behavior depending on an insured person's health status, we derive policy implications and analyze whether a requirement of charges or evidence of insurability would be advisable.
(35) Coverage may not be conditioned upon evidence of insurability. (36)
Conversion occurs under a group policy when an insured individual applies for an individual policy without evidence of insurability within a stipulated period of time before the group insurance coverage terminates.
Increases in the face amount usually require evidence of insurability. Also, an increase in premiums requiring an increase in the face amount to stay within the definition of life insurance guidelines of Code section 7702 usually will require evidence of insurability.
insurance, long-term disability insurance, optional life insurance (with evidence of insurability),
* Restrictions for grandfathering of existing plans without evidence of insurability? As the market matures this will become a greater challenge for carriers and could affect risk appetite.
The rider also typically can be converted to a cash value plan later, without evidence of insurability.
The underwriting insurance company is unhappy with the risk spread and may want to decline to issue the case, raise the rates, lower the commissions, ask for evidence of insurability, or all of the above.
The new permanent policy is priced for the client's "attained" (current) age, but the insured doesn't have to submit new evidence of insurability.
In addition, a good term policy with convertibility allows clients to obtain a more permanent policy without providing further evidence of insurability.
Similarly, an elective increase in the death benefit (requiring evidence of insurability) of a universal life policy that was acquired before June 21, 1988 would also subject the policy to testing.

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