Bridge Term Advisor Guide
Advisor use only
Overview
Being postponed for life insurance can be a frustrating experience for a Client, especially if they’re managing some medical uncertainty.
We may offer Clients non-convertible, non-renewable term insurance for one year if we’ve postponed their application during the underwriting process. It’s called 1-Year Bridge Term (or Bridge Term). This gives the Client peace of mind while they complete the outstanding requirements in order to re-apply for life insurance.
How it works
- A Client between ages 18-65 applies for life insurance
- Our underwriting assessment results in a postpone
- We determine if we can offer the Client Bridge Term. If so, we contact you with the offer details
- If the Client accepts, we issue a Bridge Term policy. Coverage starts from the underwriting decision date
- Within one year, Client re-applies for life insurance
- The Bridge Term policy expires after one year
Re-applying for life insurance with Bridge Term
We’ll follow up with the Client. Here’s how it will work:
- Six months after we issue Bridge Term, we’ll contact the Client to remind them to complete any outstanding requirements. We’ll follow up with the Client again in five months.
- In the 11th policy month, we’ll contact the Client again to remind them to complete any outstanding requirements if they haven’t done so already and let them know their policy is ending soon.
- If the outstanding requirements have been completed, the Client may re-apply for life insurance. We’ll handle the transaction as a replacement.
- At 12 months, insurance coverage under the Bridge Term policy will end.