Question
a.
Insurers require full medical and financial underwriting for all coverage amounts, including the FCL.
b.
For modest amounts above the FCL at younger ages, a health declaration or short questionnaire may suffice; requirements become more comprehensive for larger amounts and older ages.
c.
Evidence of insurability is not required for any amount of coverage in employer-employee group schemes.
d.
All employees wishing to exceed the FCL must undergo a detailed lifestyle and health examination, regardless of the amount or age.
Posted under IC 92 Actuarial Aspects of Product Development
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Q. What underwriting requirements may an insurer impose for coverage amounts exceeding the Free Cover Limit (FCL)?
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