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Underwriting | ADA-Sponsored Insurance Plans – Insurance for Dentists and Their Practices

Underwriting

Overview

Insurability of our members is determined through a careful review of medical and/or financial characteristics. Concerning all of the ADA-sponsored members insurance plans, underwriting standards are the same for every member of the group. To minimize risk and keep rates consistent for all Plan participants, members with specific conditions may be excluded from coverage.

Once all necessary information and exam results are received, the entire application process usually takes between 2-3 weeks. At that point, Great-West Financial will define your application as one of the following:

  • Approved: Your application is accepted as submitted. Your coverage will take effect on the date it was approved by Great-West Financial, subject to the payment of your first premium.
  • Modified: Your application will be accepted once you agree to any modifications offered by the underwriter. A modification may change the amount of coverage or eliminate benefits for specific medical conditions. You are not obligated to accept our offer for modified coverage.
  • Declined: Your medical condition (as demonstrated by your medical history) falls outside the established range of insurability for the ADA-sponsored members insurance plan for which you applied. You will receive a letter explaining the reasons your request was declined.

Underwriting requirements are subject to change without notice.

Type of Underwriting Required
ADA-Sponsored Members Insurance Plans Medical Financial
Annually Renewable Term Life
Level Term Life
Term Plus® Universal Life
Disability Income Protection
Office Overhead Expense
Hospital Indemnity
Critical Illness
Annually Renewable Term Life for Students1
Student Disability2

1   $50,000 of coverage under the Annually Renewable Term Life Plan is available to pre-doctoral ADA student members under age 45 without proof of good health if they request activation by May 1st of graduation year. Any additional coverage, activation requests after the deadline, or enrollment by a student age 45 or older will be subject to medical underwriting.
2   $2,000 per month in Student Members Disability insurance and up to $150,000 to repay student loans is available to pre-doctoral ADA student members if they request activation by May 1st of graduation year. Any additional coverage, activation requests after the deadline, or enrollment by a student age 45 or older will be subject to medical underwriting.

Financial

Financial underwriting is required of members applying for greater than minimal amounts of Disability Income Protection and Office Overhead Expense Reimbursement. We will ask you to provide us with your most recent tax documents, determined by your employment and/or business, as well as the amount of coverage you request. If you are a new dentist, we may be able to accept alternative forms of financial documentation. Please call 800-568-2001 if you are in doubt as to what we need.

Minimum Financial Requirements
Disability Income Protection Plan
Monthly Coverage Amount Your Employment Status
$3,000 or more (with all carriers) OR any amount with Future Increase Option or COLA Option Employee Sole Proprietor Partnership
W-2 form and current year-to-date paycheck stub IRS form 1040 and Schedule C IRS form 1040, Schedule E, IRS form 1065 (all pages) and Schedule K-1
S Corp. C Corp.
IRS form 1040, 1120S and Schedule K-1 IRS form 1040, 1120 and W-2 form

Minimum Financial Requirements
Office Overhead Expense Plan
Monthly Coverage Amount Your Business Status
$10,000 or more (from all carriers) Sole Proprietor Partnership
Schedule C and Supplemental Expense Schedule IRS form 1065, Schedule K-1, and Supplemental Expense Schedule
S Corp. C Corp.
IRS form 1120S, Schedule E or K-1 and Supplemental Expense Schedule IRS form 1120, Schedule E or K-1 and Supplemental Expense Schedule

Medical

Medical underwriting may include a medical questionnaire, blood draw, urinalysis, paramedical exam, physicians report, or EKG depending on your age and the amount of coverage you request. Additional information may be required as determined by your personal medical history.

Once the underwriting process has begun, a paramedical service or individual authorized by Great-West Financial will contact you for an appointment. You can choose to schedule an appointment at your home or office. Blood draws will be sent to an independent laboratory for analysis. We will cover all fees for this service. Please note: accurate blood studies require an 8-12 hour fast.

Minimum Medical Requirements
Annually Renewable Term Life Plan, Level Term Life Plan and Term Plus® Universal Life Plan
Coverage Amount
Age $50,000 - $475,000 $500,000 - $975,000 $1,000,000 - $3,000,000
20-35 Exam Exam Exam & APS
36-49 Exam Exam Exam & APS & EKG
50-59 Exam Exam Exam & APS & EKG
60-64 Exam & APS & EKG Exam & APS & EKG Exam & APS & EKG
Minimum Medical Requirements
Disability Income Protection & Office Overhead Expense Plans
Coverage Amount
Age Up to $1,900 $2,000 - $3,900 $4,000 - $4,900 $5,000 or more
20-35 Exam Exam Exam & APS Exam & APS
36-44 Exam Exam Exam & APS Exam & APS & EKG
45-49 Exam & APS Exam & APS Exam & APS Exam & APS & EKG
50-59 Exam & APS Exam & APS & EKG Exam & APS & EKG Exam & APS & EKG
Exam Blood draw, urinalysis and paramedical exam.
Exam & APS Blood draw, urinalysis, paramedical exam and physician's report.
Exam & APS & EKG Blood draw, urinalysis, paramedical exam, physician's report and EKG.

Dentists:This website is not a contract. Benefits provided under respective Group Policy Nos. (104TLP Annually Renewable Term Life, 1105GDH-IPP Disability Income Protection, 1106GDH-OEP Office Overhead Expense Disability, 104GUL Universal Life, 104LTLP Level Term Life, 1117GH-HIP Hospital Indemnity, 1127GH-CIP Critical Illness, and 1107GH-MCP MedCASHSM) issued to the American Dental Association, underwritten by Great-West Financial, and filed in accordance with and governed by Illinois law. The ADA is entitled to receive royalties from the ADA Members Insurance Plans. Coverage is available to all eligible ADA members residing in any U.S. state or territory. Level Term Life premiums are fixed based on the selected duration of 10 or 20 years. Must maintain membership throughout selected term. Annually Renewable Term Life, Hospital Indemnity, Critical Illness, and MedCASH premiums increase annually based on age. Recommended premiums under the Term Plus® Universal Life plan consist of the cost of insurance (which may vary based on the member’s age and coverage amount), the amount chosen by the member for deposit into his/her Policy Value Account and a service charge. Premium deposits may fluctuate or remain level depending upon the amount maintained in the Policy Value Account. Disability Income Protection premiums increase every 5 years and Office Overhead Expense every 10 years based on age. Premium credit for Annually Renewable Term Life and Term Plus Universal Life is not guaranteed but reevaluated annually. Premium credit for Disability Income Protection, Office Overhead Expense, Hospital Indemnity, Critical Illness, and MedCASH is not guaranteed but reevaluated semi-annually. Each Plan participant will receive a Certificate of Insurance explaining the terms and conditions of the policy.


Dental Students: This website is not a contract. Student coverage is issued regardless of your medical condition if you are under 45, but benefits are not payable, as defined by the respective policy, for death or disability resulting from a sickness, disorder, physical condition, or symptom that existed or was treated 12 months prior to enrollment. Benefits are provided under respective Group Policy Nos. (104TLP Annually Renewable Term Life and 1108GDH-SDP Student Disability) filed in the state of Illinois in accordance with and governed by Illinois law, issued to the American Dental Association, and underwritten by Great-West Life & Annuity Insurance Company. If you are 45 or older, you can apply for the no-cost coverage and all student program features by providing proof of good health. Coverage renews automatically each academic year. Each insurance plan participant will receive a Certificate of Insurance explaining the terms and conditions of the respective policy. Individuals may convert coverage to the plans for practicing dentists after graduation according to policy guidelines by paying ADA member premiums and maintaining ADA membership. See legal information above for the ADA-sponsored insurance plans for practicing dentists.


ADA® is a registered trademark of the American Dental Association.


Great-West Financial® refers to products and services provided by Great-West Life & Annuity Insurance Company, Greenwood Village, CO, its subsidiaries and affiliates. The trademarks, logos, service marks, and design elements used are owned by Great-West Life & Annuity Insurance Company. © 2017 Great-West Life & Annuity Insurance Company. All Rights Reserved. For website issues, contact the Webmaster at ADA_WebMaster@greatwest.com.

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