COVID-19 Product & Underwriting Updates

Since the onset of the COVID-19 pandemic, insurance companies have announced an unprecedented number changes to their products and underwriting.  These changes have altered the life insurance landscape like never before.  Some of these changes have actually been beneficial – like increased death benefit amounts for Accelerated Underwriting or the introduction of new APS retrival options – while other changes have not been so favorable.  As an example, many companies are now restricting their maximum issue ages, regardless of product.

• • Max Issue Age of 69 – AIG, Global Atlantic, Mutual of Omaha
  • Max Issue Age of 70 – Pacific Life (term), Securian
  • Max Issue Age of 75 – Pacific Life (ul), Transamerica
  • Max Issue Age of 79 – Cincinnati Life, Lincoln National, New York Life, North American, Protective Life, Prudential, Symetra
  • Max Issue Age of 80 – Equitable, Principal

With the support of LIBRA Insurance Partners, the Brokers Network has consolidated many of the announced changes.  Do not hesitate to contact us if you need additional clarification.

For additional support, review our recommendations for writing life insurance from a social distance.