A combination of relaxed underwriting, enhanced digital channels and coverage extensions reflect measures being introduced by many Canadian Life Insurance companies.
Certain large carriers are temporarily expanding their risk tolerance by relaxing certain underwriting requirements.
Many carriers are accelerating improved electronic delivery options and expanding digital processes ( a much welcomed development ).
Some carriers have extended premium payment grace periods from 30 days to 90 days on a case by case basis for situations impacted by COVID-19
The Canadian Life Insurance Industry recognizes that the security of individual, family & corporate protections & investments are more important to Canadians than ever during this pandemic and hopeful that these initial measures will be helpful.
