Page 36 - iA Excellence -Field Underwriting Guide - Updated on July 2019

Proof of earned income for Universal Loan Insurance
No proof of earned income is necessary. However, the clients must provide proof of their loan obligations
at the time of claim.

Job stability
The length of time applicants have been in their risk than an employee who is at his or her fourth job
present employment is an important consideration within the last two years.
in measuring stability. A new employee is more An applicant who has a history of unstable
likely to be laid off than one with more seniority, employment may have a higher incidence of
and is more likely to fail at a new job or decide that disability claims.
the job is not a good fit.
For newly self-employed applicants (less than or
On the other hand, an employee who has been at a equal to a year), the following criteria apply (except
job less than six months, but has demonstrated job in the case of Universal Loan Insurance):
stability for the previous ten years, is a much lower

In a new field Immediately eligible
A salaried employee who becomes self-employed in the Immediately eligible
same field of business

A self-employed who has no income the first year May apply for a maximum monthly benefit of $1,000

Bankruptcy

Applicants who have a history of bankruptcy bad financial liabilities, and repeated bankruptcies
present a special concern for disability underwriting. may indicate bad financial management or even
Personal bankruptcy may be a means to escape from fraudulent intent. The following criteria will apply:

Life Disability
Applicants who have not yet been totally liberated Applicants must wait 12 consecutive months after
from their bankruptcy could be eligible under certain having been totally liberated from their bankruptcy in
circumstances. order to be eligible.

An applicant who has experienced multiple bankruptcies will be declined.

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