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Evidence Of Insurability

What is Evidence of Insurability (EOI)?

Evidence of insurability is health documentation that shows health insurance providers if the person is having good health. Unlike other insurance providers, who check overall health before providing the insurance, EOI checks on a more specific area of health, going into the very details of the health profiling of a to be customer, when it comes to some extra covers required by the clientele or any dependent member is to be added in such a coverage

When it is said that evidence of insurability EOI is requisite, it means either more detailed documentation or a deep investigative process of health inquiries consisting of several other diagnostic tests than the routine insurances, or both. 

The alternate name of Evidence of Insurability is Statement of Health. You provide additional information related to your health and the health of your dependents applying for additional insurance benefits through EOI. Those benefits are related to health, disability insurance, and life term.

What is the evidence of insurability form?

Evidence of insurability form is issued by the Health Insurance and may require the following information, 

What sort of Insurance is required by Evidence of Insurability? 

The following are the conditions whereby the Evidence of Insurability may be required:

Why Evidence of Insurability is necessary (EOI)?

The reason why the Evidence of Insurability (EOI) is there in practice is: insurance is said to be in organizational run-through as a risk that can be calculated and EOI is considered as the better care as a caregiver for the customers. But, at the same time, the underwriters dealing in insurance policies need to take into their very due considerations the adequate risk factors are either worth taking or otherwise, as far as EOI is concerned.   

Additional information about Evidence of Insurability

How to submit Evidence of Insurability? 

There are two methods by which Evidence of Insurability (EOI) can be submitted: one is online and another is through mail or facsimile, by your benefits coordinator. 

Following is the online method:

Evidence of Insurability can be availed through your benefits coordinator through having an application received concerning “Benefits Election Form”, fill that form in respect of all the details required therein including your email address for the EOI underwriter who in return provides you on your email your link for login online EOI, your benefits coordinator then will submit it and tick the appropriate option of either the correspondence will be received by you through mail or email, as per your option given therein.    

What are the pertinent dates to know about evidence of insurability applications?

  1. During summer enrollment and got an EOI approval before September 1, it would start with effect from the 1st September
  2. Amid fall enrollment and receiving EOI approval before January 1, the facility starts from 1st January
  3. Within 31 days of QLE – Qualifying Life Event – and getting approval of EOI, the coverage starts on the first day of the month after the approval date