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FREQUENTLY ASKED QUESTIONS

01) Is SecureLife® a guaranteed issue plan?

No, this is a fully underwritten plan. In fact the review of complete medical records is one of the key tenets of the underwriting of this plan.

02) How can ACE Life offer coverage when other companies have declined?

There are several reasons – first we use a unique underwriting approach called "clinical underwriting”", applied by underwriters with many years experience assessing high-risk cases. Second, the plan is priced to reflect the higher risks involved. Finally, the premiums for the plan are not guaranteed.

03) What is clinical underwriting?

This process uses the most current medical research to evaluate applicants individually, focusing on the elements that truly affect a person’s longevity, such as lifestyle, family and medical history and compliance with doctors’ orders.

04) How do I get more information or a quote?

This website contains everything you need, including an Advisor’s Guide, on-line quotes, questionnaires to complete for preliminary inquiries, and an application form. Or contact us.

05) Should I submit a preliminary inquiry prior to taking an application?

Yes, we strongly encourage you to submit a preliminary inquiry. First, refer to the Underwriting Pre-Screening Guidelines in the Advisor’s Guide. If your client appears to fall within these guidelines, the next step is to submit a preliminary inquiry. There are forms available on our website that you can complete and fax or email to us with your inquiry. Before submitting an inquiry we recommend that you run a quote to see what the cost of coverage will be.

06) I am submitting an application to another insurer but I expect it will be declined – can I submit a concurrent application for SecureLife®?

No, we do not accept concurrent applications. You should complete the underwriting process with the other insurer. If declined, complete a SecureLife® app and we can generally obtain evidence very quickly from the other insurer. Again, it is advisable to submit a preliminary inquiry to us first.

07) My client received a heavily rated premium from another insurer. Should we consider SecureLife® as an alternative?

Due to the pricing of SecureLife®, it will not likely be an attractive alternative for a client that received an offer from another insurer. However, you may want to run a quote for comparison purposes.

08) My client needs $1 million – is there a way to get more than $500,000?

The maximum amount of SecureLife® coverage is $500,000. If the amount of coverage required is significantly more than this, however, we can offer supplemental accidental death coverage through Lloyd’s, London.

09) How does the Premium Refund Rider (PRR) work?

For an additional premium, PRR provides a cancellation refund at the 10th policy anniversary, equal to 55% of all premiums paid, and a maturity refund at the end of the 20th year (or age 75 if earlier) equal to 75% of all premiums paid (reduced percentage for issue ages over 55).