North American Announcing Build Chart & Juvenile Coverage Enhancements

North American recently announced enhancements to their build charts & juvenile insurance, effective August 26th. The Carrier has moved to a single build chart for all genders & age groups, along with updating the max death benefit from $250k to $500k for pre-high school & younger aged individuals.

North American is excited to share updates to their underwriting guidelines to simplify underwriting and increase juvenile coverage, effective August 26th.

Build Chart Updates

North American is moving to a single build chart for all genders and age groups to simplify underwriting for your clients. Female clients will now receive offers that are more competitive now that they align to the male chart.

Cases currently in New Business and Policy Change pending a decision will be reviewed based on the new build chart.

Juvenile Insurance Updates

North American is updating the death benefit guidelines for pre-high school aged and younger juveniles, increasing the maximum allowed from $250,000 to $500,000.

In addition, only one parent requires insurance for equal or more than the child’s death benefit. Previously, both parents needed twice the child’s death benefit. An explanation will still be required if one parent has less death benefit coverage than the child applicant.