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UNDERWRITING

BRIEFS
AND
NOTES
(PHILIPPINES)

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MINIMUM POLICIES AND ISSUE AGES

TERM PLANS
PLANS BAND 1 BAND 2 ISSUE AGES
Sun Term 90 (YRCT/5YRCT) Ps. 1,000,000 Ps. 4,000,000 18-64
Sun Forex Term (YRCT/5YRCT) $ 15,000 $ 40,000 18-64
Sun Maiden (5YRT) minimum is Ps. 500,000 max is Ps. 2,000,000 18-55
Sun Maiden Plus (5YRT) minimum is Ps. 500,000 max is Ps. 2,000,000 18-45
Sun LifeAssure (5YRT) minimum is Ps. 500,000 max is Ps. 4,000,000 18-60

WHOLE LIFE PLANS


PLANS BAND 1 BAND 2 ISSUE AGES
SUN Smarter Life Classic Peso Regular Ps. 200,000 Ps. 1,000,000
SUN Smarter Life Elite Peso Regular Ps. 200,000 Ps. 1,000,000 Smoker: 0-80
SUN Smarter Life Classic Peso 5/10 Ps. 200,000 Ps. 1,000,000 Non-smoker:16-80
SUN Smarter Life Elite Peso 5/10 Ps. 200,000 Ps. 1,000,000

ENDOWMENT PLANS
PLANS BAND 1 BAND 2 BAND 3 ISSUE AGES
Sun Acceler8 Ps. 250,000 Ps. 500,000 Ps. 1,000,000 0-80
Sun Start Up Ps. 200,000 18-50
Sun Dream Achiever Ps. 250,000 18-40

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SUPPLEMENTAL BENEFITS (RIDERS)
RIDER MINIMUM AMT. ELIGIBILITY AGE TERMINATION AGE

Total Disability
Benefit (TDB) 0 - 55 60

*Traditional & VUL


Accidental Death Please refer to ADB/ADDD
Benefit (ADB) Limits 0-65 70

*Traditional & VUL


Critical Illness Benefit 50% of the basic face
(CIB) amount
Min : PhP 250,000
*VUL only Max : PhP 4,000,000 18-60 70
Waiver of premium
Coverage After Death
of Initial Owner Insured - 0 - 15 Expires at age 21
(WPD) Payor - 18 – 60 of the insured

*VUL only
Waiver of premium
Coverage After Death
or Disability of Initial
Owner (WPDD) Insured - 0 - 15 Expires at age 21
Payor - 18 - 55 of the insured
*Traditional & VUL
Living Benefit Rider Equal to the basic face
(LBR) amount Up to maturity of
Max : PhP 2,000,000 0 - 80 the basic policy.
*Traditional
Participating plans
only
Female Critical Illness 100% of the basic face
amount
Min : PhP 500,000
*VUL only Max : PhP 2,000,000 18 - 55 65
Female Critical Illness 100% of the basic face
and Maternity amount
Benefits Min : PhP 500,000
Max : PhP 2,000,000 18 - 45 65
*VUL only
Accidental Death, Please refer to ADB/ADDD Accidental Death /
Dismemberment and Limits Dismemberment
Disablement Benefit up to age 70
(ADDD) 0 - 55 Disablement : 60

*Traditional and VUL


Hospital Income 0.2% of the face amount
Benefit Rider (HIB) max. Of
PhP 2,000.00 / day 18 - 55 60
*VUL only
RIDERS AVAILABLE for EACH PRODUCT

Sun Term 90 (YRCT/5YRCT) ADB, TDB, ADDD


Sun Forex (YRCT/5YRCT) ADB, TDB
Sun Maiden (5YRT) ADB, TDB, CIB
Sun Maiden Plus (5YRT) ADB, TDB, CIB
Sun LifeAssure (5YRT) ADB, TDB
SUN Smarter Life Classic Peso Regular ADB, TDB, WPDD
SUN Smarter Life Elite Peso Regular ADB, TDB, WPDD
SUN Smarter Life Classic Peso 5 ADB, TDB, WPDD
SUN Smarter Life Classic Peso 10 ADB, TDB, WPDD
SUN Smarter Life Elite Peso 5 ADB, TDB, WPDD
SUN Smarter Life Elite Peso 10 ADB, TDB, WPDD
Sun Acceler8 ADB, TDB, WPDD
Sun Start Up ADB
Sun Dream Achiever ADB, TDB, CBTD

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INCOME REPLACEMENT/INCOME MULTIPLE TABLE
AGE AND INCOME MULTIPLE
30 = 18 40 = 14 50 = 08 60 = 05
31 = 18 41 = 13 51 = 08 61 = 05
32 = 17 42 = 13 52 = 07 62 = 04
33 = 17 43 = 12 53 = 07 63 = 04
34 = 16 44 = 12 54 = 07 64 = 04
35 = 16 45 = 11 55 = 07 65 = 04
36 = 16 46 = 10 56 = 06 66 = 03
37 = 15 47 = 10 57 = 06 67 = 03
38 = 15 48 = 09 58 = 06 68 = 03
39 = 14 49 = 09 59 = 05 69 & 70 = 02

Even if the prospect needs (for ex.) 30M insurance coverage based on Financial Needs Analysis,
underwriting will decline insurance coverage more than the annual salary x income factor
of the prospect.

RETENTION LIMITS FOR FIRST CLASS RISKS


If the total amount applied for and existing coverage with Sun Life
exceeds the amounts shown below, the excess will be subject to
reinsurance. Do not collect premiums if beyond our retention limit.
Standard to 200% 201% to 300% 301% to 500% Over 500%
AGE
Ps US$ Ps US$ Ps US$ Ps US$
0 to 25 20M 400,000 16M 320,000 8M 160,000 500,000 10,000
26 to 60 30M 600,000 20M 400,000 12M 240,000 500,000 10,000
61 to 70 20M 400,000 16M 320,000 8M 160,000 Decline Decline
Over 70 10M 200,000 8M 160,000 4M 80,000 Decline Decline

NOTE: Exchange Rate = Ps 50.00 per US$ 1.00. Calculation of retention limit is inclusive of all existing
death benefits under regular underwritten policies, GIO, SIO + the current Application.

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NON - MEDICAL LIMITS (Regular)
- Aggregate previous sum assured with Sun Life past 5 years + pending insured applied for. Take note
of plans with face amounts other than 100%
- Add RTB, CIB & FB/FMB to basic

AGE LIMIT OF RISK LIMIT OF RISK


(Peso) (US Dollars)
0* - 35 Ps. 4,500,000 US $ 90,000
36 - 40 Ps. 2,500,000 $ 50,000
41 - 45 Ps. 1,000,000 $ 20,000
46 - 50 Ps. 500,000 $ 10,000

NON - MEDICAL LIMITS


• In determining the Medical or Non Medical evidence , all non-med policies issued 5 years prior to the new
new application should be added. To illustrate :

A 35-year old client applies for a Ps. 1 million coverage on January 2012.
He has the following existing policies with Sun Life all on Non-Medical Evidence.

2004 - Ps. 300,000


2005 - Ps. 300,000
2006 - Ps. 300,000
2007 - Ps. 300,000
2008 - Ps. 300,000
2009 - Ps. 500,000

* In this case, only policies issued since 2007 to 2009 which totals to Ps. 1,100,000
is considered. Add this coverage to the current application of Ps. 1, 000,000, then it totals
to Ps. 2,100,000 which is still within our Non Medical limit.

NOTES
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________________________________________________________________

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GIO NON - MEDICAL LIMITS
Aggregate all GIO FA (Pending + In Force
with SLOCPI)
Peso US$
Age Single Single 25%
25% FA
Premium Premium FA

0-60 Ps 30M 7.5M 600,000 150,000

61-70* Ps 15M 3,750,000 300,000 75,000

NOTE:
*Follow maximum issue age for the product.

GIO Eligibility Requirements


1. Individuals within the issue ages for the GIO product.
2. Native born in the Philippines who migrated to other countries, including their
spouse and children, and with relatives still living in the Philippines.
3. Non-Filipino citizens with Visa 13a, 13b, 13c, 13d, 13e, 13f, 13g, SRRV and SIRV.
4. Total insurance in force and pending with SLOCPI should be within SLOCPI
retention limits.
5. Does not have a declined/postponed policy with SLOCPI within the past 5 yeas
(waived for structured notes).

NOTE: To determine if client will qualify under GIO, check if he meets


eligibility requirements and GIO limits. If not, regular underwriting
will apply.

MEDICAL EXAMINER’S/PARAMEDIC’S LIMIT


EXAMINER’S LIMITS
Face Amount
Type
Ps US$
Regular/Mobile/Non Mobile 5M& below 100,000& below
Special/Mobile/Non Mobile Unlimited Unlimited

PARAMEDIC’S LIMITS
Face Amount
Type
Ps US$
Regular/Mobile 5M & below 100,000 & below
Special Limited/Mobile Up to 10M Up to 200,000

NOTES:
1. Examiner / Paramedic CANNOT examine the same client within 1 year.
2. Refer to the list of Accredited Examiners / Laboratories provided by SLOCPI Medical Department.
3. In case there are no accredited examiners or laboratories in the area, coordinate with SLOCPI Medical
Department.

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INSPECTION REPORTS
Aggregate total in force + pending with SLOCPI + Other Companies

All areas Over Ps 25,000,000 Over US$500,000.00

Turnaround time Metro Manila Areas: 7 working days


Turnaround time Provincial Areas : 14 working days

NOTE: Underwriter reserves the right to require


Inspection Report depending on assessment results.
For requests to rush inspection reports, cost in excess of
reguar inspection report will be paid by the Advisor.

ADB / ADDD LIMITS


(Eligibility age : 0-65)
For Standard Risks up to 200% mortality
Maximum limit
SL &Other Companies
AGE SL Only
Ps US$ Ps US$
400,0
0 to 25 20M 40M 800,000
00
600,0
26 to 60 30M 40M 800,000
00
400,0
61 to 65 20M 40M 800,000
00
Over 65 None None None None

Rated for Occupation or Avocation


Flat Extra Up to Flat Extra Over
For AGE Ps 5 per thousand Ps 5 per thousand
Ps US$ Ps US$
0 to 25 10M 200,000 3M 60,000

26 to 60 15M 300,000 5M 100,000

61 to 65 10M 200,000 3M 60,000

Over 65 None None None None

NOTE: Base plan cannot have both ADB and ADDD.

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FINANCIAL REQUIREMENTS
Aggregate total in force + pending with SLOCPI + Other Companies

Amount Requirements
Up to Ps 5,000,000 (or US$ None
100,000)
Ps5,000,001 to 10,000,000 or Agent’s Confidential Report (ACR) completed by the Advisor
US$100,001 to 200,000
Ps10,000,001 to 25,000,000 or Financial Questionnaire completed and signed by the applicant
US$200,001 to 500,000
Over Ps 25,000,000 or 1. Financial Questionnaire completed and signed by the applicant
Over US$ 500,000 2. Cover letter completed by Advisor to justify total insurance need
3. Proof of ownership of properties and business shares/proof of
annual income
4. Audited Financial statements within the last two (2) years
5. Inspection Report

OTHER SPECIAL TESTS


OTHER SPECIAL TESTS:
1. Aggregate previous face amounts with SLOCPI after the last special test (include GIO, SIO, RTB, CIB,
FCIB/FCIMB) past 24 months + pending insurance applied for.
2. Take note of plans with face amounts other than 100%.

PESO/DOLLAR LIMIT FOR ALL PLANS: Amounts quoted below are the starting amounts for the medical requirements.
PESO LIMITS (Ps) SPECIAL TESTS US DOLLAR LIMITS (US$) SPECIAL TESTS
Micro
Age Urinalysis Treadm Micro Urinalysis
Blood X-ray ECG Blood X-ray ECG Treadmill
+ ill + Cotinine*
Cotinine*
0-19 - - - - - - - - - -
5M
100,000
20-35 (Cotinine - - - - - - - -
(Cotinine Only)
Only)

36-40 5M 5M 10,000,001 10M - 100,000 100,000 200,001 200,000 -

41-49 3M 3M 10,000,001 5M - 60,000 60,000 200,001 100,000 -

50-60 2M 2M 5,000,001 2M 5M 40,000 40,000 100,001 40,000 100,000

61-69 1M 1M 3,000,001 1M 5M 20,000 20,000 60,001 20,000 100,000


500,0
70&Over** 500,000 500,000 500,000 5M 10,000 10,000 10,000 10,000 100,000
00

* Cotinine test is required only for applicants applying for Non-Smoker rate.
** For ages 70 and over, if the amount of insurance is below Ps 500,000 (US$10,000), all above tests
are still necessary but cost will not be shouldered by SLOCPI.

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BLOOD TEST COMPOSITION
SUNLIFE 12(SL12) SUN LIFE 13 (SL13)
FOR AGES 70
Note: All of these must appear in REFLEX TESTS For Males Age 55 &
& OVER
the lab results Over
HBA1C if Glucose is
HIV GGTP Cholesterol elevated
SGPT HBsAg Creatinine HBeAg; Anti-Hbe if SL12 or
SL12 + PSA
SGOT Anti-HCV Alk. Phos. HbsAg is + SL13 + CBC
Albumin Glucose Triglycerides HDL if chol or trigs is
elevated

COTININE GUIDELINES
WHEN is Cotinine Test required?

1. NEW BUSINESS - Applicant is applying for Non-Smoker rate. Refer to age and
amount on the table of Other Medical Requirements.

2. POLICY CHANGE - Change rate from smoker to nonsmoker rate. Get Cotinine
tests on all requests regardless of amount and age.

3. CONVERSION OF TERM BENEFIT / PLAN TO A PERMANENT PLAN,


NONSMOKER RATE.

4. TERM BENEFIT ATTACHED TO OLD POLICIES ISSUED AT AGGREGATE


RATES. Follow age / amount on Table on Other medical requirements

5. TERM BENEFIT ATTACHED TO OUR SMOKER / NONSMOKER POLICIES.


Get Cotinine tests if rate will change from smoker to nonsmoker rate.

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VALIDITY OF MEDICAL & FINANCIAL REQUIREMENTS
Application Form Submit within thirty (30) days from date of signing
Medical Exam 1. Valid for three (3) months if done for the current application
2. Valid for six (6)months if taken from a previously issued standard policy
3. Valid for three (3) months if taken from a previously rated, declined,
postponed, or NPW’ed case.
NOTES:
1. For #2 and #3 above, complete the Non-Medical portion of the
Application.
2. Underwriter reserves the right to require a medical examination
depending on the assessment results.

Special Tests(See Valid for one (1) year


Section C)
Financial Valid for one (1) year, unless there are updates due to year-end changes in
Requirements financial statements.

BASIC UNDERWRITING GUIDELINES


FOR 70 AND ABOVE
1. The applicant must be in above average state of health, gainfully employed and/or has
substantial assets.

2. The minimum amount of insurance is Ps. 500,000 and the applicant must be qualified for
this amount.

3. The routine medical requirements for Ps. 500,000 FA are: Medical Examination, Chest X-
ray, ECG and micro urinalysis.

4. All applications must be submitted together with complete Agent’s Confidential Report
(ACR).

5. Attending Physician Statement (APS) from his/her personal doctor must also be available.

6. If Face amount applied is below Ps. 500,000, the company will not shoulder the costs of
all routine tests from blood chemistry, cotinine, X-ray and ECG.

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