Guaranteed Issue

The legal requirement for an insurance company to issue a policy to an applicant regardless of his/her level of risk. This especially applies to health insurance. For example, an insurance company may be compelled to issue a policy to a person with a pre-existing condition. In general, higher risk policyholders still must pay a higher premium for their insurance. In the United States, Obamacare mandates guaranteed issue of health insurance.

References in periodicals archive ?

One of the slidedecks describes actuaries' current thinking about guaranteed issue and simplified issue life insurance programs.

3 Mysteries About the New Life Sales and Underwriting Programs

BANKING AND CREDIT NEWS-June 22, 2017-AXA adds long-term care services rider to guaranteed issue program

AXA adds long-term care services rider to guaranteed issue program

M2 EQUITYBITES-June 22, 2017-AXA adds long-term care services rider to guaranteed issue program

AXA adds long-term care services rider to guaranteed issue program

Evidently, the issue is that the major carriers have not been interested in bidding on a guaranteed issue group plan for the Bar members because of the vast range in age (young and veteran) and health.

Health Insurance

The redesigned plan allows brokers and agents to offer higher monthly disability benefits, improved guaranteed issue options and simplified underwriting to their clients.

Disability insurance

The individuals who speak for consumers at the National Association of Insurance Commissioners (NAIC) have come up with ideas for how regulators and lawmakers could keep new federal guaranteed issue rules from wrecking the individual health insurance market.

PPACA: NAIC Consumer Reps Look at Antiselection

Guaranteed issue is offered for coverage up to $20,000.

Products address illness, disability

There are six laws that comprise small group market reform: (1) guaranteed issue, (2) reinsurance, (3) ratings, (4) renewal, (5) portability, and (6) minimum loss ratio.

Reform laws and health care coverage: combating exclusion of persons with disabilities

Consistent with trends, pressure to liberalize guaranteed issue guidelines was the most common response.

Pressure to Liberalize Underwriting is the Most Pronounced Trend Cited by Voluntary Carriers in Eastbridge Study

Allstate Workplace Division in September introduced two voluntary group critical-illness policies that offer guaranteed issue based on group size, participation and benefit amount selected.

Allstate rolls out illness products

The product offers guaranteed issue for qualified employer groups, spouse and dependent coverage, an assortment of riders and compensation programs that reward producers for the quantity and quality of business sold.

ING Employee Benefits

Sixty-three (63) percent said that guaranteed issue amounts are increasing

Underwriting of voluntary products is getting more liberal according to a recent study by Eastbridge Consulting Group