iA Financial Group announced that it is simplifying and accelerating its application process for its individual insurance products.
The result will be that sales representatives will be able to confirm acceptance for almost half of their clients instantly at the point of sale for all life, critical illness and disability insurance products, stated iA in an announcement May 29.
For life insurance coverage of less than $500,000
To make the insurance application process easier, iA Financial Group is easing medical requirements for clients aged 50 and under who apply for life insurance coverage of less than $500,000. “As a result, these clients will no longer have to provide a blood test, results of vital signs or a urine analysis. Moreover, EKG and stress EKG tests are no longer required for life insurance and critical illness insurance for all age ranges,” stated iA.
New technological platform
iA says its new technological platform helps to further simplify the application process. This platform features an automated rating engine and the use of an electronic signature.
"We are aligning our efforts to make applying for insurance easier and faster, as much for our representatives as our clients, says Pierre Vincent, Senior Vice-President, Individual Insurance and Sales at iA Financial Group.