How to Guides - Resolution Life

Alteration requests and requirements

ALTERATION REQUEST	REQUIREMENTS	UNDERWRITING
Smoker to non-smoker	Complete Update smoker status digital form	Yes
Review of health loading	Complete Increase/Alteration/Addition Application form.	Yes
Review health exclusions	Complete the Review of Health Exclusion form with the addition of the relevant questionnaires required. You will find these questionnaires under Other forms tab at Forms - Resolution Life.	Yes
Review of occupation rating	If you have a quote that was issued within the last 30 days, complete the Upgrade your occupation digital form. If you do not have a quote, complete the Online quotes enquiry form.	Yes
Wait period increase	Obtain a quote for Elevate products: 1. Log into portal. 2. Search for the client’s policy number 3. Go into their policy information 4. On the menu on the left-hand side, select Request a quote → Policy alteration 5. Follow the steps within the Premium calculation tool to obtain this quote. 6. The policy owner can then sign and date the quote and send to insurance@resolutionlife.com.au. Obtain an increase quote for other products: 1. Complete the Online quotes enquiry form 2. Once the quote has been approved by the policy owner, they can then request the implementation of this change, in writing, to insurance@resolutionlife.com.au.	No
Increase sum insured	1. Obtain an increase quote via the Online quotes enquiry form 2. Once quote has been received, attach to the completed Increase/Alteration/Addition Application form.	Yes
Decrease sum insured	Obtain a quote for Elevate products: 1. Log into portal. 2. Search for the client’s policy number 3. Go into their policy information 4. On the menu on the left-hand side, select Request a quote → Policy alteration 5. Follow the steps within the Premium calculation tool to obtain this quote. 6. The policy owner can then sign and date the quote and send to insurance@resolutionlife.com.au. Obtain a decrease quote for other products: 1. Complete the Online quotes enquiry form 2. Once the quote has been approved by the policy owner, they can then request the implementation of this change, in writing, to insurance@resolutionlife.com.au.	No
Decrease benefit period	Obtain a quote for Elevate products: 1. Log into portal. 2. Search for the client’s policy number 3. Go into their policy information 4. On the menu on the left-hand side, select Request a quote → Policy alteration 5. Follow the steps within the Premium calculation tool to obtain this quote. 6. The policy owner can then sign and date the quote and send to insurance@resolutionlife.com.au. Obtain a decrease quote for other products: 1. Complete the Online quotes enquiry form 2. Once the quote has been approved by the policy owner, they can then request the implementation of this change, in writing, to insurance@resolutionlife.com.au.	No
Removal of CPI	Complete Request to opt out of inflation adjustment digital form.	No
Addition of CPI	Obtain a quote for Elevate products: 1. Log into portal. 2. Search for the client’s policy number 3. Go into their policy information 4. On the menu on the left-hand side, select Request a quote → Policy alteration 5. Follow the steps within the Premium calculation tool to obtain this quote. 6. The policy owner can then sign and date the quote and attach to the completed Increase/Alteration/Addition Application form Obtain a decrease quote for other products: 1. Complete the Online quotes enquiry form 2. Attach the quote to the completed Increase/Alteration/Addition Application form	Yes
Conversion to senior plan (where eligible- Elevate only)	This requires a new business quote via the Elevate online tool. 1. Log into portal. 2. On the menu on the left-hand side, select Quotes → New policy (Elevate online) 3. Once the quote has been approved, the policy owner will then need to complete the following 2 forms: 07316B_Elevate_Insurance_application_form.pdf (resolutionlife.com.au) Elevate personal statement form (complete sections for Insurance details, smoking status, occupation and income details).	Yes
Future insurability benefit increase	1. Request an increase quote via the Online quotes enquiry form 2. Attach this quote to the completed the Future insurability benefit for life, TPD and trauma insurance form	No
Alter TPD own to TPD any occupation	1. Obtain a quote via Online quotes enquiry form 2. Once the quote has been approved by the policy owner, they can then request the implementation of this change, in writing, to insurance@resolutionlife.com.au.	No
Addition of any option eg (SG) superannuation contributions option, flexilink or premierlink options, TPD or Trauma options	1. Obtain an increase quote via Online quotes enquiry form 2. Complete Increase/Alteration/Addition Application form. Refer to page 8 for eligibility. You cannot add to the policy if this commenced prior to 17th August 2009. It will have to be a cancel and replace to add.	Yes

Reinstatements

Reinstatement process and requirements for Elevate products only

Date paid to

Requirements

Payment required

60 days or less since the ‘paid-to-date’

Nil

Premium arrears must be paid in full within 60 days of the 'date paid to'.

61 days – 90 days

• Completion of digital reinstatement application.
• Financial requirements for agreed value income insurance contracts.

(ii) If the digital reinstatement application is unsuccessful, we may be able to consider reinstatement with completion of an Application for Reinstatement.

91 days – 6 months

• Application for reinstatement(i), including
income details.
• Any discretionary evidence requested by
the underwriter.
• Financial requirements for agreed
value contracts.

For policies written on or before 31 December 2017 (ie grandfathered from LIF arrangements): Premium arrears must be paid in full.

For policies which started from 1 January 2018 (ie post-LIF policies): A premium payment calculated as at date of reinstatement.

Over 6 months since the ‘date paid to’

Cannot be reinstated. A new plan is required with full underwriting

(i) To reinstate Childrens’ trauma, please complete the Children’s Trauma Personal statement.

Note: The policy may be eligible to be reinstated without application and underwriting requirements. Contact Resolution Life to confirm eligibility.

Important information

Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations for our products can be found at resolutionlife.com.au/target-market-determinations.

Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.

Resolution Life can be contacted at resolutionlife.com.au/contact-us or by calling 133 731.