FastTrack is an innovative underwriting process utilising digital screening technology to fast-track qualifying client policies to be issued at standard rates without further medical tests.
The FastTrack process is only applicable to new policies. This means even for an existing client with an existing policy it will only apply if they take up a new policy.
The table below indicates which factors are considered for FastTrack.
| Factor | FastTrack is applicable when*: | Validation stage |
| Age, BMI, and health questions | Clients are 50 years old (age next birthday), or younger. Client's BMI is between 18 and 30 (inclusive). The BMI value, including decimals will be compared to the threshold. This means that a BMI of e.g., 30.1 will not qualify for FastTrack. Client's blood pressure reading is not greater than 140/90, as measured by the digital screening, e.g., BP = 120/80 will qualify for FastTrack, but BP = 142/89 will NOT qualify for FastTrack. Clients' answers to the health questions do not indicate adverse risk according to Momentum. | During the digital screening |
| Benefits | The benefits selected are limited to life cover, lump sum disability, lump sum impairment and critical illness benefits only. | At quote acceptance stage |
| Number of lives | There is only one life on the policy. | |
| Purpose of cover | The cover is for personal insurance, not for business assurance. | |
| Cover amount limits | The aggregated insured amount on main benefits with Myriad is < R5m (Ancillary disability benefits do not contribute to this total), and the new critical illness cover applied for does not exceed R1m.
| |
Data validation | The information provided by clients is not contradicted by information obtained through other sources, e.g., the Life and Claims Register. | At application submission stage |
* Please note that these rules are subject to change anytime without notification, but any changes will be communicated.
If all validations were successful, the adviser will be notified directly after the application submission stage that the policy has been accepted at standard rates via the FastTrack process. If any of the validations fail, standard underwriting processes and requirements will apply.
The validations include FICA, banking and the LOA register.