With a wide range of riders, your clients can choose the benefits that fit their unique needs and get the right product at the right price.
Platinum Advantage:
- Meets the needs of more executives, professionals and physicians with strong features and flexible riders
- Offers flexibility with three choices of residual disability and options such as the own occupation and non-cancelable policy riders
Fully Underwritten
Effective June 1, 2018, you may submit business applications for Platinum Advantage in the six new states and D.C. using the Platinum Advantage application and supplemental forms. You may complete applications for Protector PlatinumSM and Protector EssentialSM until July 1, 2018, using the current application and supplemental forms. These must be received in the home office no later than August 1, 2018. For more details, including transition information for policy increases.
Full transition rules >>
Guaranteed Standard Issue
After the product's launch date of June 1, 2018, all new requests for proposals in the six states and the District of Columbia will be quoted on Platinum Advantage GSI. The final day to submit re-quote requests for Protector Platinum will be July 31, 2018. All offer letters for Protector Platinum must be signed and returned by August 31, 2018.
Updated Marketing Materials for NY, Other States
GSI Plans in Florida Move to Platinum Advantage Oct. 1
GSI plans in Florida will move to Platinum Advantage GSI, beginning Oct. 1, 2018. Producers must notify their groups by July 1.
See the Move Details >>
Illustration Life: 3 Years, 7 Months
The Standard’s Illustration Software will remove new business and increase quotes from the system after three years and seven months. If you want to hold on to your illustrations longer, be sure to save them outside of the software, such as on your company’s server.
Save Your Illustrations >>
Underwriting & Operations Updates
GSI Plans in Florida Move to Platinum Advantage Oct. 1
GSI plans in Florida will move to Platinum Advantage GSI, beginning Oct. 1, 2018. Producers must notify their groups by July 1.
Simplified Underwriting: Proof of Income Requirement Removed for BIR
More Clients Will Qualify for Simplified Underwriting - With Simplified Underwriting, applicants don’t provide medical labs or proof of their income, as long as the application meets a few basic rules. We recently made changes to the program to make it even easier. And to help more of your clients qualify.
Get Simplified >>
The Standard has eased criteria for the Simplified Underwriting program so more applicants can qualify.
- Increased IDI participation limits to $10,000 for all applicants age 18-50. This means the combined maximum benefit, when taking into account other IDI the applicant may have in place, can be up to $10,000. This is an increase of $4,000 for applicants 45 or younger, and $7,000 for applicants 46-50.
- Removed the income-documentation requirement for the Benefit Increase Rider. Before, the applicant had to provide proof of income to add the BIR to a Platinum Advantage policy. We no longer need income documentation to add the BIR when using Simplified Underwriting.
Student Loan Rider Expansion to More Occ Classes!
Student Loan Rider and I&P Changes
The Student Loan Rider is no longer just for physicians and dentists.
As of June 27, the rider is available to any clients in occupation classes 5A, 5P, 4A, 4P, 4S, 3A, 3P or 3D. The monthly benefit options are more flexible too. Applicants can choose a monthly student loan benefit as low as $100 and as high as $2,500 for physicians and dentists and $1,500 for occupation classes 5A, 4A and 3A.
5A, 4A and 3A occupation classes will be eligible for a minimum of $100 and a maximum of $1,500 monthly in student loan benefits.
5P, 4P, 4S, 3P and 3D occupation classes will be eligible for a minimum of $100 and a maximum of $2,500 monthly in student loan benefits.
Agencies may request to add or change the Student Loan Rider for applications in process, approved policies pending delivery and active policies with effective dates on or after May 27, 2018.
See the full transition rules!!>>
We also updated issue and participation limits, including how we consider employer-paid LTD for individually-paid income protection insurance."
