Employers who offer life insurance to their employees but require evidence of insurability (EOI) before the insurance is effective will find MyEnroll’s life insurance verification a useful tool for managing coverage.
Evidence of insurability (EOI) many be required under certain circumstances, such as when an employee elects coverage over the insurer’s guarantee issue amount, or when insurance is newly elected after the initial enrollment period. In most EOI situations, the employee has to complete a specific form and return the form to the insurer, and the insurer must approve the elected coverage.
MyEnroll.com can coordinate the EOI submission by pending the employee’s election. Then, the employee is directed to download and print a copy of the EOI form. Alternatively, the EOI form can be emailed to the employee. The employee returns the form to the insurer and/or the employer. Once the employer receives the insurer’s notice that the EOI was accepted, the employer may use MyEnroll.com to release the pended election to active status.
For more information on the pend feature available through MyEnroll.com, please contact your account manager or info@BASusa.com.