Updated and Enhanced Underwriting Guidelines North American Company is happy to announce several changes to the underwriting guidelines to enhance the experience of the applicant during the underwriting process. These changes will be effective July 26, 2019.
What has changed
- EKG Testing: EKGs are no longer required for applicants ages 40 and younger. The amount threshold has also been increased for all other age brackets and is no longer required until the face amount is $10,000,001 for ages 41-50, $5,000,001 for ages 51- 70 and $500,001 for ages 71+
- Electronic Inspection Report (EIR): The EIR threshold has been raised to $3,000,001. EIRs will continue to be ordered from the Administrative Office for amounts of $3,000,001 and above and do not require any contact with the applicant.
- Requirement shelf life: Exam, blood and urine, EKG, and financial requirements will now be good for 12 months for all ages and ratings.
- College-age applicants: We now allow up to $1,000,000 of total coverage with all companies for those attending college
- Financial Supplement: Applicants to age 70 and applying for less than $3,000,000 no longer require a financial supplement.
- Scuba: Non-technical scuba diving under 130 feet is now allowed Super Preferred
- Requirement brackets: North American has simplified the face amount brackets to make it easier to determine the paramedical requirements