Anything and Everything
This organization provides medical history codes used by insurers to assess risk.
What is MIB (Medical Information Bureau)?
This financial verification is required for life insurance amounts over $5,000,000.
What is FIN (Financial / Third-party verification)?
This document is always ordered by Equitable Life when required.
What is the Attending Physician’s Statement (APS)?
This status means the policy is active and coverage is in effect.
What is Inforce?
This rating means the client has been approved at the standard 100% rate.
What is Approved – Standard Rates?
This form is required if the new contract replaces an in-force or recently terminated contract.
What is the Life Insurance Replacement Declaration (LIRD)?
This type of underwriting is not available for applicants aged 61 and older.
What is preferred underwriting?
This is the age basis used to determine underwriting requirements.
What is attained age (actual age)?
This term means the policy has been generated but not yet settled due to outstanding requirements.
What is Issued?
This rating means the client pays more due to health or lifestyle risks.
What is Approved – Substandard Rates?
This is the term for when a substandard offer of 175% or more is made and the advisor is contacted before proceeding
What is Substandard Offer?
This requirement is added for life insurance amounts over $100,000 for ages 51–60.
What are Para Labs?
This replaces medical questions on an application when required.
What is a paramedical exam?
This term means the client has decided not to proceed with the policy during the underwriting process.
What is Not Taken?
This rating means the client pays less due to better-than-average health or lifestyle.
What is Approved – Preferred Rates?
This email address can be used to send barcodes for urine and blood samples.
What is IndNewBus@equitable.ca?
This interview is required for applicants aged 75+ applying for $100,001 or more.
What is the Mature Age Focus Interview (MAFI)?
This combination of coverage types requires the most extensive list of requirements.
What is combination critical illness and life insurance?
This term means the policy has been issued but is awaiting settlement due to missing items like payment or signatures.
What is C.O.D. (Cash on Delivery)?
This term means the application was not approved but may be reconsidered in the future.
What is Postponed?
These two requirements are added when a life is selected by the prediction model.
What are paramedical, Blood Profile and Urine
This report is required for life insurance amounts over $5,000,000 for ages 18–69.
What is the Motor Vehicle Report (MVR)?
This additional screening is required for applicants who have lived in Canada for less than one year.
What are hepatitis screens (with paramedical and blood profile)?
This status means the file was closed due to missing requirements and no coverage was provided.
What is Rejected?
This term means the client has been denied coverage and generally cannot reapply.
What is Declined?