Cigna has announced that the e-app acceptance limit for Income and Mortgage Repayment Covers has been increased. This change means that from November 25 customers can have their Agreed Value Income Protection and/or Mortgage Repayment Cover conditionally accepted and issued on the same day. In order to guarantee acceptance, the cover must have a combined total benefit of up to $6000 per month, the underwriting engine must accept the risk, and evidence must be uploaded on eApp.
“You talked, we listened. As part of our commitment to bringing you and your customers a market-leading service offering, we’re proud to announce we’ve increased the automatic acceptance limit for our Income and Mortgage Repayment Covers and made it even easier to get your cover issued on the same day.
From 25 November, customers taking out Agreed Value Income Protection and/or Mortgage Repayment Cover with a combined total benefit of up to $6000 per month can have their cover conditionally accepted and issued on the same day, provided supporting evidence is uploaded and can be validated.
What do I need to do to have a policy accepted and issued on the same day?
To be conditionally accepted through our eApp and have cover issued on the same day, the application must:
- be for Agreed Value Income Cover and / or Mortgage Repayment Cover up to a maximum total benefit (including any existing cover) of up to $6,000 per month
- have the risk accepted by our underwriting engine
- upload evidence of income or mortgage supporting the benefit your customer is applying for
Our underwriting team will then simply need to validate the evidence before issuing the policy.
In other news
Cigna: over 100 enhancements made to eApp and underwriting rules engine since its release in April
Cigna: enhancements to Income Protection and Mortgage Repayment Covers to be made over the coming months