Underwriting guidelines

When a business is listed as the owner and the beneficiary on the application, provide information regarding the purpose of the coverage, business configuration, financial structure, business valuation and overall make-up of the business seeking coverage. Also, Financial Supplement form ADMIN2822 is required for all business cases.

F&G allows money to be collected with all applications; however, the company’s liability is limited to $500,000 subject to the terms of the conditional receipt.

These initial payments must be made by check. F&G cannot draft cash-with-app payments.

F&G has a streamlined underwriting program that allows eligible clients the opportunity to be approved at the time the application through InstApproval^®1 (available on e-App only) and without invasive medical requirements, through Exam-Free Underwriting.

Applicants will automatically be routed through this expedited underwriting program, it does not need to be requested. A signed HIPAA form must be submitted with all applications.
F&G offers Exam-Free Underwriting with the opportunity for InstApproval for eligible applicants as outlined below:

• Issue Age:
  • 0-50 through $5,000,000, APS required over $3,000,000 (for ages 0-17, APS required over $1,000,000)
  • 51-60 through $3,000,000, APS required over $2,000,000
  • InstApproval available to age 60 through $1,000,000 applied for and in force with F&G
  • For applicants who are not U.S. citizens or not permanent resident cardholders, the maximum issue face amount for Exam-Free Underwriting is $500,000.
  • For residents of Puerto Rico, agent must provide motor vehicle report with application. F&G cannot obtain MVRs from Puerto Rico; however, the applicant can obtain via the government's website. Effective April 2, 2026, the writing agency will be responsible for submitting copies of these MVRs with the application.

A paramedical exam should not be ordered for applicants in the Exam-Free program.
The following requirements will be ordered by F&G. Any or all of these requirements may be used and will vary by age and face amount. Refer to age/amount requirement charts.

• MIB, LLC report (MIB)
• Motor Vehicle Report (MVR)
• Public records check
• Prescription Drug, Lab History and Medical Test Results Database (RX, Lab and Medical Claims Info)
• InstantID^® (IID)

For some applications, a telephone interview will also be ordered following the initial Underwriting Review.
In rare situations, F&G may request additional information or requirements, if necessary. This could include paramedical exams, blood tests, fluid collections and attending physician statements. An APS/EHR is required for clients through age 50, applying for more than $3 million and for clients 51-60 applying for more than $2 million.

We obtain checks from various database providers. These include MIB, prescription history, medical claims history, laboratory testing results, motor vehicle reports, and checks of other public records. They may be requested other than where listed for clarification during underwriting review. Additional financial justification will be required at these ages and amounts. Policy approval is determined by a review of medical and personal history on the application and may be subject to additional underwriting requirements at the discretion of F&G.

Additional exam-free considerations

• Exam-free-eligible applicants do not have the option to complete a paramedical exam, as this will not improve their rate class. F&G may charge the agent for unnecessary paramedical exam expenses.
• Certain age and face amounts are excluded from Preferred consideration.

After the underwriting review, F&G will communicate with the writing agent to advise of additional requirements, if needed. Thorough, accurate and detailed information on the application, including prescription history, will assist F&G in reviewing the application quickly, and, often without additional requirements.

¹ InstApproval^® is an underwriting process and is not available to all applicants. Those who qualify for InstApproval^®, as determined by an initial questionnaire, are considered low-risk in all critical underwriting categories, and no additional risks can be uncovered in an instant search of online records databases. If risks are found, traditional underwriting may be required, and placement in another Indexed Universal Life (IUL) product may be more appropriate. Same-week coverage requires electronic payment (ACH) of initial premium at time of application.

Applicants who do not qualify for Preferred or Standard rates may be approved at Express Standard Tobacco and Express Standard Non-Tobacco rates. This option allows F&G to make a fair and appropriate offer to the client without medical requirements and is priced accordingly.

Express Standard Class is used when a health condition does not fall within standard parameters or when individuals age 45 - 60 have not seen a medical professional in the previous 3 years.

Field underwriting is a vital part of the risk selection process. For all life applications, please ask the applicant all the health questions as worded on our application. Accurately and completely record the answers provided by the applicant on the application. Please provide the name, address and phone number of the applicant’s personal physician. Any “yes” answer requires details in the detail section. Record the exact impairment, diagnosis date and last seen date, plus the name and address of the physician. For medications, please provide a complete and accurate list of medications the applicant is taking. Please indicate the reason the applicant is taking the medication, as some medications can be prescribed for different conditions. Also, provide the dosage and date of last fill.

A strong cover letter can provide the agent with the opportunity to offer any additional information on behalf of the applicant that could be vital to the underwriter’s decision to issue coverage. Cover letters are especially helpful when the amount applied for or ownership and the beneficiary are outside F&G’s typical parameters. A cover letter for personal and business insurance should provide a full explanation of the reason for the sale, purpose of the coverage and how the coverage amount was determined, along with information about premium and funding sources.

If the total in force and applied for coverage amount on the proposed insured exceeds $20,000,000, please contact the home office prior to submitting the application.

Juvenile insurance is frequently sold as part of a combined financial plan of savings and insurance. Insurance is purchased on the lives of dependent children in anticipation of future insurance needs, which could include savings, education and/or protection of future insurability. Juvenile insurance should be a part of an overall family insurance program which includes life insurance on the parents and siblings.

• Unless state insurance law dictates otherwise, juveniles can have up to 50% of the amount of coverage their parent has up to a maximum of $1,000,000 per primary insured. Amounts over the maximum may be considered on an individual basis. Group insurance through work on the parents should not be included.
• All children should be covered for similar amounts.
• To avoid delays in the processing of the application, include details about the parents’ coverage: life insurance coverage amount and name of carrier.
• An insurable interest must exist between the juvenile, the owner and the beneficiary.
• Parents and grandparents have an apparent insurable interest. Any other arrangement must be explained in a cover letter.
• The application must be signed by the owner, the custodial parent if different than the owner, and insured juveniles ages 15-17.
• Parental coverage is required for juvenile coverage amounts of $200,000 or more.
• Ensure a current, accurate measurement of height and weight of the child is obtained for the application (using feet, inches and pounds).  Do not use most recent doctor’s visit and do not estimate.  An accurate height and weight is crucial to getting a child’s policy approved quickly. Juveniles who are underweight or significantly overweight may not be approved.

New York state juvenile guidelines

Note: F&G is not licensed to sell Life Insurance products in the state of New York.

New York residents may apply for Life coverage through F&G outside the state of New York but regardless of where the application is signed, a non residence form is required and NY Juvenile guidelines below will apply.

For children aged 4 years 6 months and under, the child’s coverage must be no more than 25% of the amount of life insurance in force on the parent/guardian owner. For children aged over 4 years 6 months to 14 years 6 months, the child’s coverage must be no more than 50% of the amount of "combined" life insurance in force on both parents regardless of which parent owns the policy.

If the owner/parent is applying for coverage at the time of the child’s application and it affects the eligible amount for the child, the child’s application should not be approved until the owner/parent’s application is approved and accepted.

If there is no coverage on the owner/parent, the maximum allowable coverage is $50,000.

When a grandparent is named owner, the NY state regulation does not apply, but it is expected that the parents should have at least an equal amount of insurance in force.

Washington state juvenile guidelines

For the state of WA, coverage on a child CANNOT exceed the household income amount.

The maximum amount of coverage available for a non-working spouse is $1,000,000 per primary insured not to exceed wage earner’s inforce coverage amount. If the coverage amount sought for non-working spouse is greater than $1,000,000, underwriting should be consulted for individual consideration.

Both the owner and beneficiary of a life policy must have an interest in the continued life of the insured and suffer a financial loss resulting from the untimely death of the insured. This is called insurable interest. The insured’s spouse, parent, child, sibling or grandparent have assumed insurable interest and can be approved as the owner and/or beneficiary. When someone else is named beneficiary or owner, or if an adult (18+) insured is not the owner on their own policy, the agent should submit an explanation with the application. Beneficiary designations subject to state-specific regulations.

This is a transaction in which a life insurance policy is purchased for the primary purpose of transferring the policy’s death benefits to investors who have no insurable interest in the life of the insured.

F&G will order the APS/EHR when the underwriter needs more detailed and technical information regarding an applicant’s medical history to accurately assess the mortality risk. An APS/EHR may also be required at certain ages and face amounts as per requirements chart. Unless prior approval has been given to an agency, all attending physician statements will be ordered by the F&G Underwriting department. Clients cannot collect and submit their own medical records when an APS is required.

You may check the status of an ordered APS/EHR on SalesLink^® or through the Intellisys site available through our vendor, ExamOne. You do not need to login or have an account with ExamOne to use this tool for status checks.

ExamOne Laboratory performs the testing. Appointed paramedical services can obtain the venous blood draw. Fasting is recommended but not required.

Paramedical exams are required by age and face amount. Please refer to requirements chart for when these are required and do not order examination otherwise unless directed to do so by the home office.

The companies listed below are authorized to perform paramedical on behalf of F&G:

F&G will consider use of paramedical exams completed for other carriers where exam was completed within 12 months of the F&G application date (up through age 70, over age 70 within 6 months) and contains equivalent information to an F&G paramedical exam. A completed, signed and current dated F&G application must be submitted including part II of the application.

An HOS is required with all medical and paramedical examinations.

Inspection reports include telephone interview and searches on electronic databases. For underwriting guidelines on inspection reports required by age and face amount, please refer to the requirements chart. Underwriting may order a phone interview, or electronic inspection report, on any application to clarify or verify information obtained from other sources.

Service allows us to complete identity verification, spot potential fraud and uncover identity discrepancies. Where the service isn't able to validate ID, we may request documentation to confirm the applicant's address, Social Security Number and driver's license.

F&G will order an MIB report on all applications submitted. MIB operates an information exchange on behalf of insurance companies that are members of MIB. If you apply to another MIB member company for life or health insurance coverage, or a claim for benefits is submitted to such a company, MIB, upon request, will supply F&G with the information in its file. This exchange assists the industry in rooting out fraud and prevent anti-selection, thereby keeping insurance premiums affordable for all consumers.

An MVR may be required and is ordered online by the Underwriting Department. For residents of Puerto Rico, agent must provide motor vehicle report with application. F&G cannot obtain MVRs from Puerto Rico; however, the applicant can obtain via the government's website. Effective April 2, 2026, the writing agency is responsible for submitting copies of these MVRs with the application.

RX, Lab and Medical Claims Info is a report of current and past prescription and lab history along with medical test results as ordered by the proposed insured’s physician.

Appointed paramedical services can obtain EKGs.

Underwriting may order a phone interview or electronic inspection report on any application to clarify or verify information obtained from other sources. These interviews will be conducted by CRL Plus call interviewers on behalf of F&G.

The interview team may be contacted at 877.844.5041 Monday to Friday, 8:00 a.m. to 9:00 p.m. CT.