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Policy Matters

First Quarter 2020


During the COVID-19 Pandemic, updates and information for advisors and their clients currently applying for life insurance (as of 3/26/20):

  1. Past Travel
    • If the proposed insured or any member of his or her household has traveled or resided outside of the United States within the past 30 days, the application will be postponed until 30 days following their return.
    • If the proposed insured or any member of his or her household has come into close contact with anyone known to the insured to have tested positive for COVID-19, the application will be postponed until 30 days following their exposure.
    • In addition, anyone testing positive for the COVID-19 virus or those who have been hospitalized or quarantined for the virus will have their application postponed for a minimum of 90 days.
  2. Future Travel: Anyone planning to travel outside the U.S. will be subject to postponement of their application until travel is completed and 30 days has passed since traveling.
  3. Anyone who has been tested or been treated for COVID-19 is expected to disclose any tests or treatments on their life insurance application or supplement we provide.
  4. Except in certain areas, examiners are still going out for exams and taking precautions.
    • We’re seeing many more clients canceling exams than examiners canceling
    • When scheduling appointments, exam companies are asking about personal (or close contact with someone else with) recent foreign travel, or any signs of fever or respiratory distress
    • If “yes” to any of these, appointments are being rescheduled for at least 15 days from the call to protect the applicant and examiner
  5. Labs are open and processing samples collected.
  6. Medical records providers are operational, but some doctor’s offices/hospitals have reduced staff.

In the life insurance world:

  1. One insurance company will approve up to $500,000 of coverage without requiring a paramedic exam/lab work.
  2. A number of companies will conduct a phone interview, check available data resources like motor vehicle reports, prescription database, etc. and see if they can make an offer without lab work (Accelerated Underwriting)
    • Normally up to $1,000,000 in coverage and works best for clients in better than average health
    • One company announced yesterday it is expanding Accelerated Underwriting to:
    • $2,500,000 under age 40 and $2,000,000 from age 41-60
      • the applicant has had a physical with labs within the last 24 months and
      • the insurance company can obtain the necessary records
  3. Another insurance company can offer up to $5M with the possibility of no lab work. (According to recent data, 64% of applications are being approved without lab work in a short period of time)

So insurance companies are working to make options available to speed up the process and limit face-to-face contact that comes with a paramed exam. While they may not always be the lowest premiums, they allow all of us to actively take part in social distancing in order to slow the spread of COVID-19.

Watch and our Twitter page (@teamLLIS) for the most recent updates about life insurance and the other types of insurance solutions we offer your clients. We will post as we get them from the trusted insurance companies we work with.

2020 Conference schedule

  • May 6-9: NAPFA Spring Conference – Denver, CO CANCELLED
  • Aug 6-9: Garrett 20th Annual Retreat – Excelsior Springs, MO
  • Oct 10-13: XYPNLive – Denver, CO
  • Oct 21-14: NAPFA Fall Conference – Atlanta, GA
  • Oct 27-30 ACP Conference – Atlanta, GA

LLIS 2020 Webinar Schedule

TeamLLIS is working from home. We’re working hard for you and your clients and working to avoid interruptions. We wish you well and are here doing business “as usual” as we can.


Term Life Insurance | Low-Load Universal Life (Individual & Survivorship) | No Lapse Guaranteed Univeral Life (Individual & Survivorship) | Long Term Care Insurance | Disability Insurance | Critical Care Insurance | Low-Load Variable Annuity | Immediate and Fixed Annuities | Low-Load Variable Universal Life | Hybrid Life/LTCi | Hybrid Annuity/LTCi

(We recommend low-load permanent life insurance and annuities when possible)

(Not all policy types available in all states)

For a list of current providers, visit the Advisor Tools section of our website and click on "Insurance Companies We Work With".

NAPFA ACP Garrett Planning Network NAPFA XYPN BLatinX Internship Inc. Sponsor