Life Insurance Medical Underwriting Requirements Requirements are based on age as of nearest birthday

Transcription

1 Underwriting. Only Better. Life Insurance Medical Underwriting Requirements Requirements are based on age as of nearest birthday Death Benefit Amount 0 250,000 Non-Medical 250, ,000 Non-Medical 500, ,000 Non-Medical 750,001 1,000,000 Non-Medical 1,000,001 3,000,000 3,000,001 5,000,000 5,000,001 10,000,000 10,000,001 and up Insured s Age & Above Exam by Personal Physician + HOS Exam by Personal Physician + HOS Exam by Personal Physician + HOS Exam by Personal Physician + HOS Paramedical + Home Office Specimen (HOS) Electrocardiogram (EKG) Smokers Only: Treadmill EKG Insured s Age Death Benefit Amount Insured(s) Treadmill EKG $5,000,001 & Up Single Life $10,000,001 & Up Joint Life International Cases: Wealthy Global Citizen Guidelines Where to Get Info Consult Risk Selection (underwriting) or go to Lifeline.PacificLife.com/Underwriting & New Business/Underwriting/Risk Selection/Wealthy Global Citizen Guidelines. Attending Physician Statement (APS): For Routine Visits Insured s Age Death Benefit Amount Note and Exclusions 0-17 $250, Risk Selection may request an APS at any time for cause Over $2,000,000 within 2 years - Routine visits generally exclude: employment, school, or insurance physicals, routine normal OB/GYN related exams, and routine care for cold, flu, allergies, and minor accidental injuries Over $1,000,000 within 3 years - An APS can be ordered for up to a $150 fee without underwriter approval. 61 & Above All amounts MKTG-OC-672E For Life Insurance Producer Use Only. Not for Use with the Public. Page 1 of 4

2 Additional Underwriting Requirements and Vendor Information Underwriting Requirements Issue Age Death Benefit Amount Motor Vehicle Report 16+ $100,000 & Up Express Report 0-17 Consult Risk Selection $5,000,000 - $10,000,000 Inspection Report (IR) 0-17 Consult Risk Selection $10,000,001 & Up* 70+ $3,000,000 & Up 3rd Party Financial Statements All ages $10,000,001 & Up* or Equivalent * Underwriting may require an IR and/or 3rd party financial statements under this amount when circumstances warrant it. Personal Physician Examinations for Ages 0-15: To request a lab kit, please send an to LabKITRequests@PacificLife.com Age of Evidence Age Application Exam (Paramed, MD Exam) Blood Profile/HOS EKG - Resting EKG - Stress 0-70, Standard or Better Not by exception 6 months 12 months 12 months 12 months 24 months 0-70, other than above 6 months 6 months 6 months 12 months 24 months months 6 months 6 months 12 months 24 months Additional Requirements for Medical Exams Over 90 Days Certificate of Health Application, Attending Physician Statement Exam Age (C of H) Part II, Non-Med ScriptCheck (APS) 0-90 days No No Underwriter Discretion Underwriter Discretion days Yes No Underwriter Discretion Underwriter Discretion 121 days-12 months No Yes Yes Ages 0-70: Underwriter Discretion Ages 71+: Yes For Life Insurance Producer Use Only. Not for Use with the Public. Page 2 of 4

3 Additional Underwriting Requirements and Vendor Information (continued) Approved Vendors The paramedical exam consists of medical history, height, weight, pulse readings, and blood pressure. Approved Vendors Contact Information Services Provided American Paramedical Professional Systems, Inc (APPS) (800) , (516) , Paramed Examination Management Services, Inc. (EMSI) (800) , Paramed, IR, Express Report ExamOne (877) , Paramed, IR Parameds.com (888) , APS Portamedic Services (866) , Paramed For Life Insurance Producer Use Only. Not for Use with the Public. Page 3 of 4

4 Pacific Life Insurance Company Newport Beach, CA (800) Pacific Life & Annuity Company Newport Beach, CA (888) Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance products and their guarantees, including optional benefits and any crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. Look to the strength of the life insurance company with regard to such guarantees as these guarantees are not backed by the broker-dealer, insurance agency or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company. Pacific Life s individual life insurance products are marketed exclusively through independent third-party life insurance producers, which may include bank affiliated entities. Pacific Life Home Office is located in Newport Beach, CA. Investment and Insurance Products: Not a Deposit Not Insured by any Federal Government Agency Not FDIC Insured No Bank Guarantee May Lose Value Page 4 of 4 MKTG-OC-672E For Life Insurance Producer Use Only. Not for Use with the Public /14

5 Pacific PRIME SM TERM Quick Underwriting Guide Got a client with a medical condition? Less than stellar driving history? Risky hobby? Use this guide to give you and your client an idea of the underwriting outcome for Pacific PRIME SM Term* term life insurance. Pacific Life will provide a progressive and competitive evaluation based on the information gathered during our streamlined process. 1 * Pacific PRIME is a registered trademark of Pacific Life, all rights reserved. Pacific PRIME Term is policy form #P12TRS or ICC12 P12TRS for simplified underwritten policies and policy form #P12TRF or ICC12 P12TRF for fully underwritten policies. Policy form number based on state in which the policy is issued. Form numbers will vary based on the age of the insured and the face amount chosen at time of application. Form numbers also correspond to the underwriting method associated with the application. 13-VER-16 For Life Insurance Producer Use Only. Not for Use with the Public. page 1

6 Frequency Scale Usually Often Sometimes Occasionally Rarely Never 1 driving under the influence (DUI) ticket in the last 5 years Insurable BEST CLASS STANDARD RATED Rarely Often Sometimes 1-2 speeding tickets in the last 3 years Often Often Rarely 3+ speeding tickets in the last 3 years Rarely Occasionally Usually Anxiety disorder Often Usually Sometimes Asthma Occasionally, if no tobacco use Never, if tobacco user Often Usually, if tobacco user Bungee jumping Often Sometimes Sometimes Commercial pilot Usually Usually Rarely Depression Occasionally Often Sometimes Diabetes, type 2 (in good control, not overweight, and no tobacco use) Never Often Occasionally Heartburn Often Occasionally Rarely Hepatitis A Often Sometimes Rarely High blood pressure Sometimes Often Occasionally High cholesterol Sometimes Usually Sometimes Pregnant Often Occasionally Rarely Private pilot Sometimes Usually Sometimes Scuba diving Often Sometimes Sometimes Skin cancer (nonmelanoma only) Often Usually Occasionally Sleep apnea (under treatment and no tobacco use) Rarely Usually Sometimes For Life Insurance Producer Use Only. Not for Use with the Public. page 2

7 Frequency Scale Usually Often Sometimes Occasionally Rarely Never Potentially Insurable BEST CLASS STANDARD RATED 2 DUI in the last 5 years Never Rarely Usually Alcoholism (over 5 years ago and currently abstinent) Rarely Occasionally Often Bipolar disorder Never Occasionally Usually Cancer (in remission and no recurrence in the last 5 years, no tobacco use) Never Occasionally Sometimes Diabetes, type 1 Never Rarely Often Drug abuse (over 10 years ago and consistently abstinent since) Never Rarely Often Heart attack (no tobacco use) Never Occasionally Usually Hepatitis B Never Occasionally Sometimes Hepatitis C Never Rarely Usually Leukemia Never Rarely Usually Lymphoma Never Rarely Usually Military pilot Rarely Sometimes Often Sky diving (as an occasional adventure, not as a hobby) Never Never Usually Stroke/mini-stroke Never Never, if tobacco user Rarely, if no tobacco use Usually For Life Insurance Producer Use Only. Not for Use with the Public. page 3

8 Not Insurable Alcoholism (current) Alzheimer s disease and other cognitive diseases Cancer (with recurrence or uses tobacco) Cirrhosis Drug abuse (currently using) Heart attack (tobacco user) Lou Gehrig's disease Organ transplant recipient Polycystic kidney disease Uncontrolled diabetes mellitus Not intended to be an all-inclusive list. Need more specific help? Request a Quick Quote at PrimeTERMQuickQuotes@PacificLife.com. Be sure to specify the level premium period (10, 15, 20, or 30 years), if applicable, and include the applicant s: Age Tobacco use history Desired death benefit amount Medical condition(s), including date of diagnosis, medication(s) taken, and current status. For Life Insurance Producer Use Only. Not for Use with the Public. page 4

9 Pacific PRIME Term: Quick Facts Available in 10-, 15-, 20-, and 30-year level premium periods, Pacific PRIME Term term life insurance offers: Competitive pricing: Up to $1 million coverage for as little as $20/month 2 Streamlined process: Electronic submission, automated underwriting Attractive conversion incentives: Conversion credit 3 applied to new cash value life insurance policy 4 with no additional underwriting. For Life Insurance Producer Use Only. Not for Use with the Public. page 5

10 1 Pacific PRIME Term is subject to underwriting and approval of the application. No medical exam is required if the case qualifies for Simplified Underwriting. Issuance of the policy may depend on the answers to health questions contained in the application. 2 Rate based on Super Preferred Non-Tobacco risk class and the fully underwritten 10-year level premium period. 3 The conversion credit is an amount equal to the policy s most recent annual term premium if conversion is completed within the conversion period. The calculation of the conversion credit does not include premiums for flat extras or riders. The conversion credit is not available in the first policy year. Conversion is allowed during the first five years for the 10-year plan. The conversion period is the earlier of 10 years or attained age 65 for the 15-, 20-, and 30-year plans. However, in no case will the conversion period be less than five years for all Pacific PRIME Term plans. Conversion will be allowed in the first year. 4 Pacific Life determines the products that are eligible for the conversion. Pacific Life Insurance Company Newport Beach, CA (800) Pacific Life & Annuity Company Newport Beach, CA (888) Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. Insurance products and their guarantees, including optional benefits and any fixed subaccount crediting rates, are backed by the financial strength and claims-paying ability of the issuing insurance company. Look to the strength of the life insurance company with regard to such guarantees as these guarantees are not backed by the broker-dealer, insurance agency or their affiliates from which products are purchased. Neither these entities nor their representatives make any representation or assurance regarding the claims-paying ability of the life insurance company. Pacific Life s individual life insurance products are marketed exclusively through independent third-party life insurance producers, which may include bank-affiliated entities. Non-guaranteed elements are not guaranteed by definition. As such, Pacific Life reserves the right to change or modify any nonguaranteed element. This right to change non-guaranteed elements is not limited to a specific time or reason. Investment and Insurance Products: Not a Deposit Not Insured by any Federal Government Agency Not FDIC Insured No Bank Guarantee May Lose Value page 6 13-VER-16 For Life Insurance Producer Use Only. Not for Use with the Public /14