As you have likely seen in the news, the coronavirus continues to spread globally and has been declared a public health emergency of international concern by the World Health Organization. As a company with international operations, we are taking proactive measures across our regions to help safeguard our employees, advisors and clients. As a result, Canada Life New Business is also updating underwriting practices for clients who have travelled to China or Hong Kong. Canada Life New Business underwriting practices Canada Life New Business is applying the following underwriting practices to Life, Critical Illness and Disability Insurance products: - Any applications submitted (or pending applications) where there is planned travel to China or Hong Kong within the next month, will be postponed until the client has returned and been back in Canada for a minimum of 14 days.
- Anyone who has recently returned from China or Hong Kong will have their insurance application postponed until they have been back in Canada for a minimum of 14 days and can produce a statement of good health upon delivery of their policy
- We are unable to offer out-of-country delivery of contracts to China or Hong Kong during this time
- For any AOPR’s delivered and signed in China or Hong Kong, we will not be able to place the contract until the client has returned to Canada for at least 14 days and can produce a statement of good health upon delivery of their policy
We are continuing to monitor the Coronavirus situation on a daily basis internally, along with our reinsurance partners, and will keep you advised of any changes that take place. | 