Accelerated Underwriting - FAQ

What is Accelerated Underwriting?

Accelerated Underwriting uses data analytics and predictive models to speed up the underwriting process. It determines which Clients require blood, urine and vitals (labs) and which Clients can be accepted without.

The model uses the disclosed history collected through a Client’s tele-interview to make this decision.

How will Accelerated Underwriting benefit Clients?

Accelerated Underwriting improves Client experience by reducing the number of Clients who need to provide labs. Clients who don’t need to provide labs will have significantly shorter cycle times.

How should I communicate Accelerated Underwriting to Clients?

While we only expect to test just over half of Clients, we won’t know up front who will or won’t be tested. It’s important you set expectations with Clients and make them aware labs will likely be required for their application.

We’ll let you know if labs aren’t needed, and you can share the good news.

What situations are eligible for Accelerated Underwriting?

  • Non-medical evidence is provided through a tele-interview
  • all life insurance products
  • the insured is age nearest 18-40, and the amount to be underwritten is between $500,000 and $2,000,000
  • the insured is age nearest 41-50 and the amount to be underwritten is between $250,000 and $1,000,000

What situations are not eligible for Accelerated Underwriting?

  • Non-medical evidence provided on a paper application or by paramedical
  • Critical illness and long term care insurance
  • Existing evidence is re-used from a previous application
  • Shared evidence requested from another company
  • Policy changes (smoker changes, reinstatements)
  • Supplementary applications
  • Recent immigrants (arrived within last 12 months)
  • Those requesting preferred rates when available for their age and amount

When will the application be assessed to determine if labs are required?

We’ll assess applications within 2 days of receiving the disclosed history.

How will I know if labs are required?

If labs are required, they will automatically show on the Activity Centre as outstanding. We’ll send a confirmation email to you as well.

Who orders labs when they’re required?

When labs are required for an eligible application, we’ll order them for the Client. We’ll notify you by email too.

How will Sun Life contact the Client when labs are required?

We will use the contact information provided on the tele-interview Information section of the application.

Why are labs required if there is no disclosed history of concern?

Some applications are randomly selected for labs, regardless of disclosed history. This is used to test the accuracy of the model.

Why was the Client contacted twice? Once for Tele-interview and once for labs?

The first request is to complete the tele-interview, which is required to determine if the Client requires labs. If the model determines labs are required, we will reach out to the Client a second time. This keeps the process moving quickly and smoothly.

Will preferred rates still be available for SunTerm applications?

Preferred rates are not available for ages 18-40 at face amounts of $500,000 to $1,000,000.

Preferred rates are available for 18-40 at face amounts of $1,000,001 to $2,000,000 and 41-50 at face amounts of $250,000 to $1,000,000. Applications for preferred rates will require labs and therefore are not eligible for Accelerated Underwriting.

How do I apply for preferred rates?

If the Client wants to be considered for preferred rates, include a note in the special instructions. These cases are not eligible for Accelerated Underwriting.

Does Accelerated Underwriting apply only to New Business applications?

No. It also applies to conversions with increases, provided the amount to be underwritten is eligible for Accelerated Underwriting.