Apply for a new policy with an existing application

Apply for a new life or critical illness insurance policy with an existing application

Clients can now apply for a new CII, term, universal or participating life insurance policy using an existing application. This is an option if:

  • the owner, insured and payor are the same and as indicated on the original application, and
  • the original application is still in underwriting, or has an original signature date within the past 6 months*.

Apply for a new CII policy using an existing life application

Using a recently approved application, submit a request to your case manager on behalf of the applicant that confirms they're interested in additional coverage, and the details of your conversation about their protection needs. You must also include:

  • an illustration with the exact coverage(s) requested by the client,
  • confirmation that the owner, insured, and payor have not changed,
  • identify the beneficiary for CII benefits, and
  • additional age or amount requirements, if applicable.

New Business will use this information to determine if they can set up the new policy. Underwriting will also review for medical and financial suitability. Upon delivery of the policy, there are a series of amendments the client will sign, including that their insurability hasn't changed.

Before delivery and settlement:

  • You're required to give your client a copy of the Guide to critical illness definitions – Sun Critical Illness Insurance (44-page booklet). It provides definitions for each of the covered illnesses, survival period and exclusions. The updated policy will include an amendment that confirms you've completed this step.
  • To complete the settlement, the applicant/proposed insured will sign and date the delivery requirements with the new amendments.

Apply for a new life policy using an existing CII or life application

Using a recently approved application, submit a request to your case manager on behalf of the applicant that confirms they're interested in additional coverage, and the details of your conversation about their protection needs. You must also include:

  • an illustration and a 4710 with the exact coverage(s) requested by the client and confirmation that the owner, insured, and payor have not changed,
  • additional age or amount requirements, if applicable,
  • confirmation of the policy beneficiary, and
  • for participating and universal life insurance, you'll need to complete the Anti-Money Laundering requirements before issue.

Before delivery and settlement:

  • To complete the settlement, the applicant/proposed insured will sign and date the delivery requirements with the new amendments.