An exciting update to Myriad’s COVID-19 underwriting approach with regard to vaccination status
Data on the fourth wave of COVID-19 infections, resulting from primarily the Omicron variant, indicates that this variant has less of a mortality impact than previous variants. Although the situation remains fluid, and we encourage everyone to be safe and get vaccinated, we are hopeful that the worst is over.
Momentum will keep a close eye on further developments but, based on our data insights, they have refined their underwriting criteria with more of a focus on health and age factors. From the end of next week, and until further notice, our systems will reflect the underwriting changes indicated below. In the meantime, their underwriters will manually waive the relevant COVID-19 requirements that are currently automatically loaded on the system:
| Previous underwriting approach | New underwriting approach |
| Required proof of vaccination as a standard underwriting requirement for all new businesses. | It is no longer necessary for all clients to submit a vaccination certificate. We will only require a vaccination certificate for clients with a BMI from 33, clients suffering from health conditions such as diabetes and clients who are 60 years and older. |
| All unvaccinated clients between the ages of 35 and 60 received a non-vaccination loading, even if they were healthy. | We will only apply an additional health loading for unvaccinated clients with significant health risks and comorbidities, e.g., clients with a BMI from 33 or clients suffering from health conditions such as diabetes. For these clients additional health risk loadings between 25% and 50% may be applicable, based on their specific health factors. |
| We declined cover for all clients over 65. | We will provide cover, subject to full underwriting, for clients up to 70 years of age.
We will still not consider cover for unvaccinated lives older than 70 at this time. |
Health status and age drives COVID-19 related underwriting decisions
Medical insights and claims experience from the COVID-19 pandemic show that unvaccinated people, especially in higher-risk categories (older clients, overweight clients, clients who have impaired health, e.g. those who have comorbidities such as diabetes) are more likely to develop severe COVID-19, and pass away as a result, than people who have been vaccinated.
Therefore, we still strongly support the national initiative for everyone to get vaccinated and to uphold all safety protocols.
Contact Consult Worx should you require any further information.
