May 8, 2019
Changes to Exceptional Underwriting Programs
After completing an analysis around the use of the two underwriting programs Term Out and Jump In, we have determined the need to make modifications.
The Jump In program allows a client recently underwritten for permanent coverage the opportunity to apply with minimal underwriting requirements by leveraging other carriers’ underwriting. The program also adds the flexibility of allowing the client to replace their current coverage or keep the original policy.
To more closely align with our current accelerated EZ Underwriting program and the industry overall, the following modifications have been made to the Jump In program:
- Maximum issue age is lowered from 65 to 60
- Minimum policy size is increased from $101,000 to $500,000
- Qualifying contract must have been issued within 3 years
With these enhancements to the Jump In program, the Term Out program – under which clients were required to surrender their term policy and provide additional forms – becomes obsolete and will be discontinued.
Please reach out to your underwriter with any questions or concerns!
TC107662(0419)1
