![]() ![]() You can be enrolled for $100,000 right away, but will be required to submit EOI to the carrier before you are able to be covered by the additional $150,000. Insurance carriers usually request that you submit an EOI application when you (or a dependent) request to enroll in a coverage volume that is above a certain amount - typically known as the Guaranteed Issue ( shown as the pre-approved amount in Maxwell).Įxample: You elect to enroll in Voluntary Life for a total coverage amount of $250,000, but the carrier’s pre-approved amount (Guaranteed Issue) is $100,000. An underwriter reviews the application to make a final approval for that coverage. This commonly requires answering a few simple health questions to determine if you meet health standards for requested insurance. What happens after I submit an EOI application with the insurance carrier?Įvidence of Insurability (EOI) is a health questionnaire that helps your insurance carrier determine whether you qualify for new coverage.How do I submit Evidence of Insurability to a carrier?.How do I know if I need to complete EOI?.What is Evidence of Insurability (EOI)?.If you’re enrolling in or making changes to a group life insurance or disability plan, you may be asked to complete Evidence of Insurability (EOI), sometimes referred to as a Statement of Health.
0 Comments
Leave a Reply. |