Business Underwriters Associates, LLC

Securian: Underwriting Updates in Response to COVID-19

04-01-2022

**Updated 04/01/2022**

Effective April 1, 2022, Securian is happy to announce the easement of all remaining restrictions related to the COVID-19 Participation Guidelines for all of their life products, including the SecureCare product line.  Securian will continue to actively monitor COVID-19 data and make decisions that enable them to continue to deliver high levels of service, help customers with insurance needs, and maintain the company’s financial strength.

**Updated 12/21/2021**

In 2020, Securian Financial began implementing participation limits in response to COVID-19. Securian has actively reviewed and updated these participation guidelines as they continue to monitor COVID-19’s impact. The changes that were implemented July 1, 2021, will now be extended through March 31, 2022. 

 

**Updated 9/22/2021**

COVID-19 new business and underwriting participation guidelines extended through December 31, 2021

Securian Financial remains focused on delivering high levels of service, helping customers with their insurance needs, and maintaining the company’s financial strength. 

Since these participation limits were implemented, Securian's promise has been to actively review these guidelines. Along the way, Securian  has delivered on a request for transparency to enable you to make the best decisions for your customers. While not yet at the final stage in their journey, Securian remains committed to an intentional and disciplined path to easing all limitations.

Participation guidelines extended through December 31, 2021:

Traditional Life Underwriting (includes underwritten policy changes)

  • Insurance ages 81 and older: new applications will not be accepted.
  • Insurance ages 76–80:  Applicants assessed at standard or better rates will be issued. All others will be postponed until at least December 31, 2021.
  • Insurance ages 71-75: Applicants assessed at Table B (150%) or better rates will be issued. All others will be postponed until at least December 31, 2021.
  • Insurance ages 61-70: Applicants assessed at Table D (200%) or better rates will be issued. All others will be postponed until at least December 31, 2021.
  • Insurance ages 60 and younger:  No rate class restrictions
  • Second-to-die policies will require both lives meet the rate class requirement for their respective ages.

Money will not be accepted with new applications until at least December 31, 2021 and temporary insurance agreements will not be available during this time.

SecureCare Universal Life (UL) Underwriting

  • Mortality evaluation is back to pre-pandemic target of Table D (200%) or better for a SecureCare UL policy to be issued.
  • Money will not be accepted with new applications until at least December 31, 2021 and temporary insurance agreements will not be available during this time.

As a mutual holding company, we take a long-term approach that positions us strongly regardless of what happens in the economy. We will continue to actively monitor COVID-19 data and make decisions that enable us to continue to deliver high levels of service, help customers with insurance needs, and maintain the company’s financial strength.

During challenging times like these, we are grateful for strong relationships. Thank you for your patience and your business throughout this process.

 

**Updated 06/22/2021**

Securian is pleased to announce the following changes to the temporary COVID-19 participation guidelines effective July 1, 2021: 

  • Removing rate class restrictions for applicants up to age 60
  • Allowing up to table D for applicants age 61 – 70
  • Expanding maximum issue age to 80 for standard or better risks
  • Returning SecureCare Universal Life mortality to table D

Write Fit1 expansion to $3,000,000 for applicants age 18 – 50 will be permanent.

All other participation guidelines, including money not being accepted with new applications and temporary insurance agreements not being available, continue until September 30, 2021.

Participation guidelines effective July 1 – September 30, 2021: 

Traditional Life Underwriting (includes underwritten policy changes) 

  • Insurance age 81 and older: new applications will not be accepted. 
  • Insurance age 76 – 80: Applicants assessed at standard or better rates will be issued. All others will be postponed until at least September 30, 2021.
  • Insurance ages 71 – 75: Applicants assessed at Table B (150%) or better rates will be issued. All others will be postponed until at least September 30, 2021. 
  • Insurance ages 61 – 70: Applicants assessed at Table D (200%) or better rates will be issued. All others will be postponed until at least September 30, 2021. 
  • Second-to-die policies will require both lives meet the rate class requirement for their respective ages. 

Money will not be accepted with new applications until at least September 30, 2021, and temporary insurance agreements will not be available during this time. 

SecureCare Universal Life (UL) Underwriting 

  • Mortality evaluation is back to pre-pandemic target of Table D (200%) or better for a SecureCare UL policy to be issued. 
  • Money will not be accepted with new applications until at least September 30, 2021, and temporary insurance agreements will not be available during this time.

Securian will continue to actively monitor COVID-19 data and make decisions that enable them to continue to deliver high levels of service, help customers with insurance needs, and maintain the company’s financial strength. 

1. WriteFit and WriteFit Express are available under Securian's WriteFit UnderwritingTM program. These statements only apply to WriteFit.

 

**Updated 03/26/2021**

Securian is pleased to announce the following changes to the temporary COVID-19 participation guidelines effective April 1, 2021: 

  • Expanding the issuance of single life applicants at the following ages:
  • Insurance ages 61–75, allow table B (150%) or better
  • Insurance ages 51–60, allow table D (200%) or better
  • Expanding the issuance of joint life applicants to allow up to table B (150%) for the better rated insured.
  • Write Fit expansion to $3,000,000 for applicants ages 18-50 will continue. 

All other participation guidelines, including money not being accepted with new applications and temporary insurance agreements not being available, continue until June 30, 2021. 

Participation guidelines effective April 1 – June 30, 2021: 

WriteFit

The maximum face amount for WriteFit applicants ages 18 through 50 is being continued at $3 million. Applicants ages 51 through 60 continue to be eligible for up to $1 million of coverage via the WriteFit platform. Eligibility for WriteFit is determined by answers to the tele-interview. 

Traditional Life Underwriting (includes underwritten policy changes) 

  • Insurance ages 76 and older: New applications will not be accepted.
  • Insurance ages 61 through 75: Applicants assessed at Table B (150%) or better rates will be issued. All others will be postponed until at least June 30, 2021.
  • Insurance ages 51 through 60: Applicants assessed at Table D (200%) or better rates will be issued. All others will be postponed until at least June 30, 2021.
  • Insurance ages 50 and younger: Applicants assessed at Table F (250%) or better rates will be issued. All others will be postponed until at least June 30, 2021.
  • Second-to-die policies with one insured ages 75 or younger receiving a table B (150%) or better mortality evaluation, the other insured must be rated:
    • Table H (300%) or better if ages 50 or younger. 
    • Table F (250%) or better if ages 51 through 60. 
    • Table D (200%) or better if ages 61 through 70. 
    • Table B (150%) or better if ages 71 through 75.
  •  Money will not be accepted with new applications until at least June 30, 2021, and temporary insurance agreements will not be available during this time.

SecureCare Universal Life (UL) Underwriting 

  • Mortality evaluation will need to be Table B (150%) or better for a SecureCare UL policy to be issued. Applicants who would be rated Table C (175%) or worse will be postponed until at least June 30, 2021. 
  • Money will not be accepted with new applications until at least June 30, 2021; and temporary insurance agreements will not be available during this time.

Securian will continue to actively monitor COVID-19 data and make decisions that enable us to continue to deliver high levels of service, help customers with insurance needs and maintain the company’s financial strength. 

 

**Updated 01/01/2021**

Securian is pleased to announce the following changes to the temporary COVID-19 participation guidelines effective January 1, 2021:
Expanding the issuance of second-to-die policies when one insured age 75 or younger receives a standard or better mortality evaluation, the other insured must be rated:

  • Table H (300%) or better if insurance age is 50 or younger;
  • Table F (250%) or better if insurance age is 51 through 60;
  • Table D (200%) or better if insurance age is 61 through 70;
  • Table B (150%) or better if insurance age is 71 through 75.

Expanding the issuance of SecureCare Universal Life (UL) policies to include applicants assessed at mortality Table B (150%) or better. All others will be postponed until at least March 31, 2021.

WriteFit expansion to $3,000,000 for applicants ages 18-50 will continue.

All other participation guidelines, including money not being accepted with new applications and temporary insurance agreements not being available, continue until March 31, 2021.

For a full list of the participation guidelines effective January 1 and continuing through March 31, 2021, please see below.

Participation guidelines effective January 1 through March 31, 2021:

  • WriteFit: The maximum face amount for WriteFit applicants ages 18 through 50 is being continued at $3 million. Applicants ages 51 through 60 continue to be eligible for up to $1 million of coverage via the WriteFit platform. Eligibility for WriteFit is determined by answers to the tele-interview.
  • Traditional Life Underwriting (includes underwritten policy changes)
    • Insurance ages 76 and older: new applications will not be accepted.
    • Insurance ages 61 through 75: Applicants assessed at Standard or better rates will be issued. All others will be postponed until at least March 31, 2021.
    • Insurance ages 51 through 60: Applicants assessed at Table C (175%) or better rates will be issued. All others will be postponed until at least March 31, 2021.
    • Insurance ages 50 and younger: Applicants assessed at Table F (250%) or better rates will be issued. All others will be postponed until at least March 31, 2021
    • Second-to-die policies with one insured age 75 or younger receiving a standard or better mortality evaluation, the other insured must be rated:
      • Table H (300%) or better if age 50 or younger;
      • Table F (250%) or better if age 51 through 60;
      • Table D (200%) or better if age 61 through 70;
      • Table B (150%) or better if age 71 through 75.
    • Money will not be accepted with new applications until at least March 31, 2021, and temporary insurance agreements will not be available during this time.
  • SecureCare Universal Life (UL) Underwriting
    • Ages 76 and older: new applications will not be accepted.
    • Ages 75 and younger: mortality evaluation will need to be Table B (150%) or better for a SecureCare UL policy to be issued. Applicants who would be rated Table C (175%) or worse will be postponed until at least March 31, 2021.
    • Money will not be accepted with new applications until at least March 31, 2021; and temporary insurance agreements will not be available during this time.

**Updated 09/16/2020**

Changes to COVID-19 participation guidelines to be implemented September 16, 2020

Securian Financial continues to focus on delivering high levels of service, helping customers with their insurance needs and maintaining the company’s financial strength. 

Securian is pleased to announce the following changes to the temporary COVID-19 participation guidelines effective September 16, 2020:

  1. Maximum issue age will increase to age 75 for all life products including SecureCare Universal Life (excluding Advantage Elite Select Term Life 15, 20, and 30)
  2. COVID-19-specific travel restrictions will be removed on all life products including SecureCare UL
  3. Applicants ages 51-60 will now be accepted at table C (175%) or better rates on all life products except SecureCare UL; and
  4. Write Fit expansion to $3,000,000 for applicants ages 18-50 will continue.

All other participation guidelines, including money not being accepted with new applications and temporary insurance agreements not being available, continue until December 31, 2020. For a full list of the participation guidelines effective September 16 and continuing through December 31, 2020, please see below.

Participation guidelines effective September 16 through December 31, 2020:

WriteFit

  • The maximum face amount for WriteFit applicants ages 18 through 50 is being increased from $2 million to $3 million. Applicants ages 51 through 60 continue to be eligible for up to $1 million of coverage via the WriteFit platform. Eligibility for WriteFit is determined by answers to the tele-interview.

Traditional Life Underwriting (includes underwritten policy changes)

  • Insurance ages 76 and older: new applications will not be accepted.
  • Insurance ages 61 through 75: Applicants assessed at Standard or better rates will be issued. All others will be postponed until at least December 31, 2020. 
  • Insurance ages 51 through 60: Applicants assessed at Table C (175%) or better rates will be issued. All others will be postponed until at least December 31, 2020. 
  • Insurance ages 50 and younger: Applicants assessed at Table F (250%) or better rates will be issued. All others will be postponed until at least December 31, 2020.
  • Money will not be accepted with new applications until at least December 31, 2020, and temporary insurance agreements will not be available during this time.

SecureCare UL Underwriting

  • Ages 76 and older: new applications will not be accepted.
  • Ages 75 and younger: mortality evaluation will need to be standard or better for a SecureCare UL policy to be issued. Applicants who would be table rated for mortality purposes will be postponed until at least December 31, 2020.
  • Money will not be accepted with new applications until at least December 31, 2020; and temporary insurance agreements will not be available during this time.

 

**03/20/2020**

As the COVID-19 situation continues to evolve, Securian Financial Underwriting remains focused on delivering strong service and solutions.

During this time where paramedical exams may be limited, WriteFit Underwriting is the optimal solution as your client has the potential for a fluid-less experience. Over 60% of submissions do not require a physical exam. WriteFit is available for ages 18-50 up to and including $2 million and for ages 51–60 up to and including $1 million. Opt-in to WriteFit on eApp.

Securian understands that WriteFit may not be conducive for every sale, which is why they have decided to leverage the WriteFit program to update their guidelines.

  • For submissions where WriteFit is available but not selected (such as a paper application) and state mandates restrict completion of a physical exam or medical records, Securian will be able to proceed in one of two ways.
    • First, they can await receipt of a completed physical exam and/or medical records.
    • Secondly, if you do not desire to wait for completion, alert your underwriter. Your underwriter will leverage WriteFit underwriting guidelines and tools to drive towards a decision that won’t require a paramedical exam (note: stretch criteria will be unavailable).

  • If state mandates restrict completion of a physical exam or medical records for situations where WriteFit is unavailable or your client is deemed ineligible for WriteFit, your underwriter will be available to review on a case by case basis. (Note: this excludes cases for insurance age 70+ or face amounts above $2 million).

Additionally, Securian has taken the following stances at this time regarding COVID-19:

  • If an applicant has planned travel/residency to a restricted area as deemed by the CDC within the next six months, a postponement may be warranted.
  • If an applicant has symptoms matching COVID-19, a postponement for evaluation until 4 weeks after full recovery may be warranted.
  • If an applicant has been tested and deemed positive for COVID-19 and has experienced:
    • Mild symptoms with no hospitalization – postponement may be required until confirmation is received 4 weeks post recovery by a healthcare provider.
    • Moderate to severe symptoms and/or hospitalization was required – postponement will occur until current evidence of good health by a medical practitioner (APS) is received more than 4 weeks post recovery.
Thank you for your business as we navigate these uncertain times.
 
Please give BUA a call at 1-800-792-6795 with any questions regarding these updates.