Which policy changes require underwriting?
The table below outlines the policy changes that require underwriting.
(note: NS stands for non-smoker change)
|Underwriting changes||Non-underwriting changes|
|Increase in coverage||Face amount reduction|
|Addition of a rider (CI, Term, child rider)||Cancellation of a rider / coverage|
|Reinstatement||Severance option (split)|
|NS change||DOB correction|
|Reconsideration of rating or risk class||Deregistration|
|COI change to level with increase in risk|
|Addition of a new life / coverage (Term and CI only)|