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When is Evidence of Insurability (EOI) required?

Updated

Evidence of Insurability (EOI) is required for newly enrolled members electing a voluntary supplemental life benefit amount that is in excess of the plan guarantee issue (GI) amount. EOI is also required for members at time of annual enrollment for members who:

  1. did not elect voluntary supplemental life coverage when they were initially eligible and are now electing voluntary supplemental life coverage over the minimum amount; or 
  2. want to increase their existing voluntary supplemental life benefit amount by more than one increment (if under the plan GI), or
  3. if they want to increase their voluntary supplemental life benefit amount over the plan GI amount.

 

At a quick view on the Employee page of Lighthouse, in the list of employee's chart if EOI could be needed for a policy, you will see the column "EOI Required".  There are three possible statuses:

  1. YES (EOI is open and needed)
  2. NO (either employee did not elect, elected GI, or it is past the enrollment period)
  3. COMPLETED (employee filled out EOI and was either approved or rejected, but the paperwork was filled out)

In order to find out more about the 3. COMPLETED status, clicking into the member's page, a new "EOI Status" column will appear.  Typical statuses might include:

  1. Approved
    1. The EOI was approved and the amount was processed as requested
  2. EOI Denied - GI
    1. While the EOI was not approved, the member was granted the GI (guaranteed issue)
  3. EOI Pending
    1. The EOI is open, but not filled out, no final decision has been made
  4. EOI Denied - Unfulfilled 
    1. The EOI was not completed but was required to receive even the GI (late entrants, or non-GI plans)

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