Evidence of Insurability


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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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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.
Understanding the death benefit switch option in universal life policies
This rider allows the employee to purchase additional coverage without evidence of insurability at specified dates, such as the second, fifth and eighth policy anniversary dates, or when a specified life event, such as a birth or marriage, occurs.
Riding to the rescue: a wide variety of new and popular riders add new life to universal coverage
Evidence of insurability affecting an employee's eligibility for insurance or the amount of insurance provided to that employee is limited to a medical questionnaire completed by the employee that does not require a physical examination.
Providing employee life insurance that qualifies as group-term life insurance
In summary, the IRS stated, "[W]e conclude that the conversion feature of the group policy, which allowed the continuation of life insurance coverage without evidence of insurability, is a benefit or privilege of a continuing nature.
Significant recent developments in estate planning
The conversion can occur prior to or after the end of the term premium period and conversion does not require any additional evidence of insurability and can be completed on one policy, with no additional policies needed.
MetLife Launches New Disability Income Term Premium Conversion Rider
Insurance carriers are required to accept all applicants of the group without underwriting or evidence of insurability so take advantage and compare the plans offered to you by your employer.
Pennsylvanians Urged to Review Health Insurance Options during Open Enrollment Season
Guaranteed Insurability: The insured retains the right to purchase additional benefits at a future date without providing more or new evidence of insurability.
Life
1) Individuals who have missed five or more consecutive days of work because of an illness or injury during the 90 days preceding enrollment may be asked to provide evidence of insurability.
Corporate Compensation Plans Announces the Availability of Group Life Insurance with Guaranteed Premiums, Lifetime Coverage, and Disability Protection
Evidence of insurability is usually not required if the request is made with in 31 days, unless the insured requests a higher amount of insurance.
Rethinking portable group life benefits: insurers should be cautious about requests for higher benefit amounts and waived age-reduction schedules
Unum (NYSE: UNM) has introduced a Spanish version of its Evidence of Insurability form as the latest in a series of services to make the benefits process easier for Spanish-speaking customers.
Unum creates Spanish version of Evidence of Insurability form
They may be able to acquire an additional $5,000,000 of cash benefits with evidence of insurability - for a total tax-free benefit of $10,000,000.
CCP Announces New $5,000,000 Security Plan for Key Employees of Investment Banks and Hedge Funds
With a base/buy-up model an employee can increase their benefit amount to a specified maximum without medical evidence of insurability.
Custom tailors: as work-force demographics shift, more employers are allowing employees to choose their own benefits and coverage amounts

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