Can I apply for a life insurance policy?

Yes, you can, if:

1) Proposed Insured’s is between 1 month 1 day to 70 years of age. Customers aged 70 years of age are only eligible for selected insurance plans

2) One life insurance plan is 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.

3) You understand that our underwriting acceptance is based on several possible factors including  age, gender, current physical condition and medical history, financial background, occupation, avocation and personal habits.

 

What are the initial required documents?

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 record if the insured age is less than 1 year old.
4. Authorization or consent letter from the juvenile’s parent to disclose the proposed Insured’s medical 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 or consent letter from the Insured.to disclose his/her medical history.
4. Agent’s report.
5. Temporary binding receipt.

For Personal Accident Policy (PA), please use the PA application.

What is the underwriting acceptance process like?

Once the company receives the completed documents, the company has access to many sources of information in order to determine the appropriate risk class for each proposed insured are as follows.

  • Issue as 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. additional physical examination,  the medical records including Attending Physician Statements  or  ask to complete additional questionnaire. The company will notify the proposed Insured of any additional requirements.
  • The company may underwrite the case with a higher premium rate based on the current physical condition and medical history, occupation or avocation 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) then the company will issue a policy for the proposed Insured.

Once the company underwrites and accepts the case, the policy will be issued and delivered to the insured together with an acknowledgement letter.  Please review all the information is correct and then sign and return the acknowledgement letter back to company.  The insured also has right to exercise Free-Look option to cancel the policy within 15 days after policy received. 

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 application are postponed or declined, the company will notify the proposed Insured by letter and refund all premiums (if any) to the proposed Insured.