Life New Business The Condensed Underwriting Guide August 2007 life underwriting at MetLife Metropolitan Life Insurance Company 200 Park Avenue New York, NY 10166 www.metlife.com 0706-5057 (0807) © 2007 METLIFE, INC. PEANUTS © United Feature Syndicate, Inc. Competitive. Responsible. FOR FINANCIAL PROFESSIONAL USE ONLY—NOT FOR PUBLIC DISTRIBUTION.
“For Internal Use Only.” All underwriting guidelines are subject to change. Individual case circumstances may cause changes or additional requirements to be ordered. NOTES ____________________________________ Refer to THE GUIDE, your Life Underwriting on-line guide for a more in-depth explanation of our underwriting guidelines. ____________________________________ ____________________________________ ____________________________________ TABLE OF CONTENTS MetLife Underwriting Manual .....................
MetLife Underwriting Manual MetLife uses the Swiss Re Life Underwriting Manual as its primary risk selection tool—allowing us to make underwriting decisions that are more in step with: • • • • Advances in clinical medicine The complexities of non-medical risk factors Advanced market concepts The “best practices” of the life insurance industry Telephone Surveys—Consumer Reports As part of the application process, prepare clients to expect a personal history interview phone call.
Tobacco Use Guidelines Routine APS Requirements For Elite Plus, Preferred Plus, Select Preferred, Elite, Standard Plus, Preferred Nonsmoker and Preferred Smoker, proposed insureds must meet all other criteria. Cigars, pipes and smokeless tobacco with negative urine specimen qualify for nonsmoker rates; however, Standard Plus and Preferred Nonsmoker are the best available classes.
MEDICAL UNDERWRITING REQUIREMENTS Ages1> 15–17 18–40 41–50 51–60 61 and over Up to $99,999 Non-Medical2 Non-Medical3,5 Non-Medical3,5 Simple Paramed3,5 Urine Specimen Simple Paramed3,5 Urine Specimen $100,000 to $249,999 Non-Medical2 Non-Medical Blood with Urine Specimen Simple Paramed Blood with Urine Specimen Paramed Blood with Urine Specimen Paramed + EKG Blood with Urine Specimen $250,000 to $999,999 Non-Medical2 Simple Paramed Blood with Urine Specimen Paramed Blood with Urine Spec
CRITERIA GUIDELINES: Face amount of $250,000 and over ELITE PLUS: Ages 18 –75 where available. PREFERRED PLUS: Ages 18 –75 where available. SELECT PREFERRED/ELITE: Ages 18 – 80 where available. Criteria Build Elite Plus Use Build Table in this pamphlet. Preferred Plus/Select Preferred/Elite Use Build Table in this pamphlet.
CRITERIA GUIDELINES: Face amount of $100,000 & over CRITERIA GUIDELINES (CONTINUED) STANDARD PLUS (Non-Tobacco) Age 18–75 where available. PREFERRED (Nonsmoker and Smoker) Age 18–80 where available. Criteria Standard Plus Preferred NS Criteria Build Use Build Table in this pamphlet Personal Health History Standard Plus Preferred NS No history of: Diabetes, Cardiovascular Disease, Cancer (except some non-melanoma skin cancers); No FEPs.
CRITERIA GUIDELINES (CONTINUED) HEIGHT AND WEIGHT LIMIT TABLE STANDARD (Nonsmoker and Smoker and Juvenile Standard) The weights shown represent the maximum allowable weight for Preferred classes: M=Males, F=Females, age 18 and over. (PFD=Preferred, STD= Standard, NS= Nonsmoker) Criteria Standard Build Use Build Table in this pamphlet.
UNISEX HEIGHT AND WEIGHT LIMIT TABLE Standard, Table B and Table C The weights shown represent the maximum allowable weight. (males and females).
Dependency Guidelines Retention, Reinsurance Limits (In all cases, amounts must meet tests of suitability and affordability.) (Limits are graded by age and rating class. Other restrictions may apply.
Immigrants and Non-Immigrants Residing in the U.S. We Will Consider • Permanent Residents as evidenced by “green card,” “white card,” I-155 or I-551 identification. (For Visa type EB-5-”Immigrant Investors creating employment.” The client must own a business that has been viable for at least two years.) • Individuals who have had their permanent visa petition approved and the only outstanding item is the actual visa number.
reinsurers, it is important that you provide detailed information of your clients’ past foreign travel and future plans for foreign travel—unless the version of the state-specific application does not ask for past or future travel. The duration of travel should be noted in weeks. Travel for longer periods of time may preclude Preferred classes and/or require a flat extra premium charge for the travel risk, or may be subject to the availability of facultative reinsurance.
FOREIGN RESIDENTS (RESIDING OUTSIDE THE U.S. FOR MORE THAN 6 MONTHS) (CONTINUED) PRODUCT AVAILABILITY Permanent Plans Term Plans Face Minimum $250,000 $500,000 Face Maximum $5,000,000 $5,000,000 Riders + Benefits Only term riders on primary insured; PAIR None Best Class Preferred; or Standard Plus (MLI term) Other Info Preferred Not available with all plans Plan must be at least a 10-year term policy Retention $5,000,000 for “A” list countries.
Underwriting Programs (Contact your NB Underwriting Unit for additional information) Cross-Franchise Term Conversions—MetLife, New England Life Insurance, First MetLife Investors, MetLife Investors USA, GenAm and MetLife Insurance of Connecticut term policies may convert to any approved enterprise permanent plan without evidence of insurability.
Managing Your Cases To avoid pending your case and improve NOGO (not of good order): 1. Use correct application and version. 2. Complete Part 2, Medical Questions—include in detailed information, • Complete name and address of all physicians and specialists consulted • Specific Diagnosis and date of onset • Frequency of episodes • Date of most recent episode/attack • Treatment, including dates and medication prescribed 3. Include ALL necessary application supplement forms, e.g., Compensation, EOLI.
