Important highlights to Principal’s Temporary Underwriting Guidelines (listed below, following the email)
- Accelerated Underwriting (AU) is still available up to $1m – Ages 18-60, Standard or better, all products ($2m on SUL) – no changes to the AU submission process.
- For the expanded face amounts over $1m listed below – here’s what you need to know:
- Applicants need to meet Accelerated Underwriting guidelines – age and checklist qualifications (Checklist)
- Part B of the application must be completed as a phone/TeleApp interview or online where applicable
- An applicant must have had a complete physical, including labs, with all results normal within the prior 24 months
- Next step will be for Underwriting to review the application to determine if Digital Health Data or Human API could be utilized to underwriter the case. Principal will coordinate the ordering of this information – your office does not need to order
- If using Human API, Principal will contact clients directly to get access to medical information – the FOC will be notified.
- Cases outside these guidelines – Age 61 plus or higher face amounts – Underwriting will proactively review to see how we can move these cases forward
- Individuals that have traveled abroad or are planning to travel abroad via plane or cruise ship will be postponed for 30 days after return
- Individuals tested or treated for COVID-19 need to disclose that information on the application or supplement
- A Statement of Health will be required for all applications at delivery.