Life Insurance Customer Service

Underwriting Process

1. Underwriting Guidelines

  • Proposed Insured's ages are from 1 month 1 day to 70 years of age's 70 years of age is only acceptable for certain insurance plans.
  • One life insurance plan can be selected at a time with or without riders, e.g. waiver of premium rider, accidental rider, hospital and surgical rider, hospital benefit rider, dread disease rider, term life rider, payer benefit rider, etc.
  • The underwriting acceptance is based on various risk factors, e.g. health status, occupation, life style, financial risk factor, etc.

2. Underwriting Documents Required

  • If the proposed Insured is aged between 1 month 1 day and 15 years:
  1. Insurance application for juvenile (aged below 16 years)
  2. Copy of birth certificate or copy of valid ID Card
  3. Copy of health check-up documentation at the insured age of 1 year old.
  4. Authorization of the juvenile's parent to disclose the proposed Insured's medical treatment history
  5. Agent's report
  6. Temporary binding receipt
  • If the proposed Insured is aged 16 years and above:
  1. Insurance application (aged 16 years & above)
  2. Copy of valid ID card
  3. Authorization of the Insured
  4. Agent's report
  5. Temporary binding receipt
  • For Personal Accident Policy (PA), please use the PA application.

3. Underwriting Process

  • Once the company receives the completed documents outlined under item 2, the company will underwrite as follows:
    • Issue a standard premium rate policy to an Insured without further request for documentation.
    • The company may request additional information to support the underwriting decision, e.g. a request for an additional physical examination, a request for past medical history, and the completion of an additional questionnaire. The company will notify the proposed Insured of any additional requirements.
    • The company may underwrite the case with a higher premium rate policy based upon the present health status, past history of health, occupation. The company will issue a counter-offer to the proposed Insured. Once the proposed Insured accepts the counter-offer with an extra premium paid (if any) or with a premium refund (if any), the company will issue a policy for the proposed Insured.
  • Once the company underwrites and accepts the case, whether at its standard rate or sub-standard rate, it will issue a policy with a 'free look' form to the Insured. The Insured needs to review the policy for correctness, sign the 'free look' form, and return it to the company.
  • Should the company not receive the additional documents/requirements within a specified period, the company will terminate the application and return all premiums (if any) to the proposed Insured.
  • If the proposed Insured declines the company's counter-offer, the company will terminate the application and refund all premiums (if any) to the proposed Insured.
  • If the company postpones or declines the application, the company will notify the proposed Insured by letter and refund all premiums (if any) to the proposed Insured.

4. Underwriting Time Frames

  • The company will issue a policy within 15 days from the date of document completion for a standard rate case.
  • If any additional documents or information is required, the company will notify the proposed Insured by letter within 30 days from the date of the application's submission.
  • Once the Insured receives a policy with the 'free look' form and finds that it is correct, the Insured has to sign the 'free look' form and return it to the company within 15 days from the date of receiving the policy.

Download Underwriting forms