- Pre-Existing Conditions Limitation: Three-quarters of respondents said they have experienced an increase in requests to waive pre-existing condition limitations. This liberalization is notable, as several respondents specifically mentioned reducing or waiving the pre-existing condition provision as one of their top three critical illness market trends of most concern.
- Private Exchanges: Two-thirds of carriers offer critical illness coverage via private exchanges in addition to traditional platforms.
- Enrollment Practices: In contrast to 2015 survey results, carriers note that open enrollment with guaranteed issue is standardly offered to all employees and dependents for new business, and two-thirds of carriers standardly offer the same for renewals. Nearly half of participating carriers offer open enrollments with guaranteed issue to accommodate private exchange and enrollment platform requirements.
- Recurrence Benefit: Once thought of as an optional benefit, recurrence is now viewed as a policy standard. Survey results indicate lower recurrence benefits may also be a thing of the past as offering full benefits for recurrence is on the rise.
- Lifetime Maximum Benefit: Almost half of the carriers no longer have a lifetime maximum benefit amount. Of those that have a limit, 50% include a 300% - 500% maximum benefit.
The Critical Illness Underwriting Practices for Employer Groups survey is a biennial benchmarking survey produced by RGA. Full results, including participation levels, GI/MAX amounts, and carrier perspectives regarding top market trends of concern, are made available only to participating companies. To view additional commentary about the survey results, visit rgare.com.About RGA Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.2 trillion of life reinsurance in force and assets of $58.1 billion as of June 30, 2017. Founded in 1973, RGA today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients. With headquarters in St. Louis, Missouri, and operations in 26 countries, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions. To learn more about RGA and its businesses, visit the company's website at rgare.com.