Frequently Asked Questions about Evidence of Insurability (EOI)
Q. What is EOI or Statement of Insurability?
A. EOI, also referred to as “Statement of Insurability,” is a process in which individuals applying for insurance coverage with USAble Life provide health information about themselves and their dependents.
Q. How do individuals know if they need to submit an EOI or Statement of Insurability form?
A. Any individual applying for coverage over the guaranteed-issue (GI) amount, or any late entrants, will need to submit an EOI/Statement of Insurability form. Late entrants are individuals who are electing coverage for the first time outside of their initial 31-day eligibility period or their first annual enrollment period.
Spouse and Dependent Coverage
Spouse coverage that is late or in excess of the GI amount requires a signed authorization from the spouse.
Q. What happens if an EOI/Authorization form is not completed?
A. If a customer’s application does not include an EOI/Statement of Insurability or the Spouse Authorization, USAble Life will request the required form(s) and allow 15 days for the information to be returned. After 15 days, if the information has not been returned, a reminder notice will be sent. After 30 days, the application will be closed and a closure letter will be sent to the group. Application processing will stop until the EOI Authorization is received.
Note: Requests for information can be made to the group, member, or whoever is submitting the application for benefits by mail or email.
Q. What happens after USAble Life receives the EOI form?
A. Unless additional medical information is needed, USAble Life will make a decision on the application within five to seven business days. A medical underwriter will contact customers whose applications require additional information allowing 30 days to respond. If USAble Life does not receive the required information within 30 days, a second notice will be sent to the customer allowing an additional 15 days to respond. Applications with no response will be closed after 45 days.
Q. What monthly premium will an individual pay while their EOI form is being processed?
A. No premium is due for late entrants until a coverage decision is made. Otherwise, the premium and related payroll deduction are limited to the premiums for the policy’s GI amount until USAble Life makes a coverage decision. In either case, the premium for coverage over the GI (and any increased coverage) will start on the first of the month following approval.
Q. Where should the completed EOI forms be submitted?
A. Completed forms should be emailed to firstname.lastname@example.org.
If you have questions about the EOI process, please contact our helpful Customer Care team at 800-370-5856.