New Business & Underwriting

New Business & Underwriting

When a new application is received in the Underwriting Department, the Underwriter does an initial review of the application and other pertinent documents in the file.

 

The Underwriter reviews the following information:

  • existing files,
  • medical information bureau (MIB),
  • the policy ownership,
  • insured’s Canadian status,
  • plan information,
  • beneficiary details,
  • financial details,
  • personal history, and
  • medical history

If additional information is outstanding, it is requested, and the file is put to a pending queue until the information is provided. Additional information can include:

  • emails,
  • supporting documentation,
  • paramedical reports,
  • lab reports,
  • attending physician statements (APS),
  • motor vehicle reports (MVR), and
  • inspection reports (IR)

Once all information is received, the Underwriter will make a final assessment and, if necessary, may seek reinsurance support.

Contains Underwriting forms 
This table includes downloadable marketing materials saved in PDF format. Each row is a different product and may contain versions of the brochure in alternate languages.
Form Number Cover Marketing Material Name Available Languages
1742 Download cover image for file Appointment of Representative to Accept Delivery of Insurance Policy Appointment of Representative to Accept Delivery of Insurance Policy File
FR
1741 Download cover image for file Attending Physician's Living Benefits Statement Attending Physician's Living Benefits Statement File
FR
0563 Download cover image for file Attending Physician's Statement Disability Benefits Attending Physician's Statement Disability Benefits File
FR
1703 Download cover image for file Authorization to Release Evidence Authorization to Release Evidence File
FR
1322 Download cover image for file Aviation Questionnaire Aviation Questionnaire File
FR
1752 Download cover image for file Backcountry Snow Sports Questionnaire Backcountry Snow Sports Questionnaire File
FR
1702 Download cover image for file Build Chart Underwriting Guidelines Build Chart Underwriting Guidelines File
FR
1795 Download cover image for file Capacity Reserve Form Capacity Reserve Form File
FR
0341 Download cover image for file Consent and Authorization for Release of Medical Information to Advisor Consent and Authorization for Release of Medical Information to Advisor File
FR
0347 Download cover image for file Critical Illness PreQualifying Questionnaire Critical Illness PreQualifying Questionnaire File
FR
1325 Download cover image for file Drinking Habits Questionnaire Drinking Habits Questionnaire File
FR
1326 Download cover image for file Drug Use Questionnaire Drug Use Questionnaire File
FR
1343 Download cover image for file Evidence of Insurability Evidence of Insurability File
FR
1323 Download cover image for file Financial Questionnaire - Business Financial Questionnaire - Business File
FR
1324 Download cover image for file Financial Questionnaire - Personal Financial Questionnaire - Personal File
FR
1527 Download cover image for file Financial Underwriting Guidelines Financial Underwriting Guidelines File
FR
1327 Download cover image for file Foreign Travel and Residence Questionnaire Foreign Travel and Residence Questionnaire File
FR
1024 Download cover image for file Guide to Individual Underwriting Guide to Individual Underwriting File
FR
1530 Download cover image for file Temporary Resident Underwriting Guidelines Temporary Resident Underwriting Guidelines File
FR
1027 Download cover image for file Additional/Updated Customer Information Additional/Updated Customer Information File
(fillable / savable)
FR
0594 Download cover image for file Business Information Form Business Information Form File
(fillable/savable)
FR
0370 Download cover image for file Declaration of Insurability for Application to Reinstate Declaration of Insurability for Application to Reinstate File
FR
1328 Download cover image for file Motor Sports Questionnaire Motor Sports Questionnaire File
FR
1329 Download cover image for file Mountain Climbing Questionnaire Mountain Climbing Questionnaire File
FR
1330 Download cover image for file Nervous Disorder Questionnaire Nervous Disorder Questionnaire File
FR
1333 Download cover image for file Parachuting or Sky Diving Questionnaire Parachuting or Sky Diving Questionnaire File
FR
1345 Download cover image for file Preferred Underwriting Classifications Preferred Underwriting Classifications File
FR
1331 Download cover image for file Respiratory Questionnaire Respiratory Questionnaire File
FR
1332 Download cover image for file Skin and Scuba Diving Questionnaire Skin and Scuba Diving Questionnaire File
FR
0000 Download cover image for file Temporary Life Insurance Agreement (TIA) Temporary Life Insurance Agreement (TIA) File
FR
0036 Download cover image for file Tentative Assessment Tentative Assessment File
FR
1609 Download cover image for file Termination for Internal Replacement Termination for Internal Replacement File
(fillable / savable)
FR
0031 Download cover image for file Third Party Form Third Party Form File
Available in PDF only (fillable/savable)
FR
1335 Download cover image for file Ultra Light Planes and Hang Gliding Questionnaire Ultra Light Planes and Hang Gliding Questionnaire File
FR
0000 Download cover image for file Underwriting cover letter template Underwriting cover letter template File
FR
This table includes downloadable marketing materials saved in PDF format. Each row is a different product and may contain versions of the brochure in alternate languages.
Form Number Cover Marketing Material Name Available Languages
1702 Download cover image for file Build Chart Underwriting Guidelines Build Chart Underwriting Guidelines File
FR
1343 Download cover image for file Evidence of Insurability Evidence of Insurability File
FR
1527 Download cover image for file Financial Underwriting Guidelines Financial Underwriting Guidelines File
FR
1024 Download cover image for file Guide to Individual Underwriting Guide to Individual Underwriting File
FR
1530 Download cover image for file Temporary Resident Underwriting Guidelines Temporary Resident Underwriting Guidelines File
FR
1345 Download cover image for file Preferred Underwriting Classifications Preferred Underwriting Classifications File
This guide provides an overview of the Preferred Underwriting Classifications that determine the rates for Preferred Term insurance at Equitable Life.
FR

COVID-19 UPDATES

Underwriting Updates Including Additional Changes to Non-Med limits (April 21, 2020)
Temporary Evidence of Insurability Schedule (1828)  (April 21, 2020)
Temporary Change to Life Insurance on-medical limits for ages up to 50; up to $1M (April 3, 2020)
Changes to ECG, TMT, MD and IR requirements (March 31, 2020)
Paramedical appointments have been put on hold. (March 24, 2020)

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New underwriting requirements

Effective October 16, 2017, we've increase the minimum requirements for preferred term underwriting. Reference 1343 Evidence of insurability schedule to verify new underwriting requirements. 

Saskatchewan Provincial Sales Tax

Effective August 1, 2017, the Government of Saskatchewan has introduced legislation that will make a 6% provincial sales tax (PST) applicable to life and health insurance premiums.

Click here for more information.

New Build Chart Underwriting Guidelines

A general adult build chart has been added to 1024 Guide to Individual Underwriting. It is also available as a standalone quick reference piece - 1702 Build Chart Underwriting Guidelines

Click here for more information.

New Forms to Comply with AML & CRS Changes effective June 17, 2017 

To maintain compliance with new Anti-Money Laundering (AML) and Common Reporting Standard (CRS) requirements, Equitable Life® has updated several forms and applications for life insurance and savings & retirement products. Please ensure you are using the most recent version, as found on EquiNet®, and recycle any old printed documents.  Click here for more information and a list of updated forms.