Examples of Simplified Issue in a sentence
If the applicant qualifies for Simplified Issue, build will not be a factor in the underwriting decision.
The minimum employer premium contribution is ≥ $10 per paid employee per month, or at least 10% of premium per paid employee.2 Simplified Issue underwriting is available to actively-at-work employees (and employer-paid spouses), up to age 68, applying for a Benefit Bank amount of ≤ $400,000 during the initial 90 day offer period, or within 90 days of an eligible employee’s date of hire.
Counter-Offers – Multi-life ApplicationsApplicants associated with a multi-life case who have completed a multi-life application and who are eligiblefor Simplified Issue will be approved or declined as applied and will not receive counter-offers of any kind.Multi-life applicants who require full underwriting because they are not eligible for Simplified Issue underwriting may receive counter-offers if LifeSecure cannot approve the policy for the benefits applied for.
The actively-at-work requirement does not apply to Spouses; however, the Employee must also apply for the Spouse to be eligible for Simplified Issue underwriting.3 For groups with ≥ 75 eligible employees, a minimum of 10 submitted applications is required during the initial offer period in order for the group to retain Simplified Issue availability.
If an applicant would meet all requirements for Simplified Issue underwriting other than the Benefit Bank coverage amount requested, any counter-offer will be for no less than $400,000.
Refer also to the Eligibility chart in Section 5.Applicant eligibility requirements for Simplified Issue:- W-2 Employees of the sponsoring employer, ages 18-68, who are currently actively-at-work at their usual place of employment for a minimum of 20 hours per week;- Spouses/Domestic Partners of eligible W-2 Employees, ages 18-68, ONLY WHEN the employer is contributing a required minimum amount toward the spouse’s/domestic partner’s premium.
Employer Contribution Required)Employer-paid 1(required) Simplified Issue 2≥ 3 covered EmployeesORFor Spouses to also qualify forSimplified Issue:≥ 10 Employer-paid Employees and Spouses combined must be covered within initial 90 day offer period Multi-life Rates with 5% Employer-contribution Discount (applicable only to individuals receiving Employer contributions) 4 Remaining Employee and Spouse population may also apply, but with Full Underwriting.
An applicant may be contacted to clarify any discrepancy between the application and the MIB or drug database screen.If the applicant does not qualify for Simplified Issue underwriting, decisions will be based on the application, MIB review, drug database findings, and any other information obtained through the underwriting protocols required for that application.
However, the original applicants will still qualify for Simplified Issue underwriting.4 Employer-contribution Discount is not available in Florida.
If the applicant is not eligible for Simplified Issue Underwriting, Full Underwriting will be required.Directions are provided on the application to ensure all appropriate sections are completed, depending on the type of underwriting required.