Product Availability Changes in MA and WY
Business Equity ProtectorSM Not Available in Massachusetts Starting Jan. 1
Massachusetts requires that all policies filed and approved with the state provide gender-neutral rates, starting Jan. 1, 2020. To comply with this new regulation, we’ll no longer offer, issue or deliver Business Equity Protector in Massachusetts, starting Jan. 1, 2020.
We’ll continue to process increases according to the policy terms for Massachusetts Business Equity Protector policies with the Future Buy-Out Expense Option Rider.
Platinum Advantage will still be available because Massachusetts law allows the Interstate Compact to govern products filed and approved by the compact. That means we can continue to sell Platinum Advantage with no changes.
Business Equity Protector applications must be signed by Nov. 1, 2019 and received in the home office by Nov. 15, 2019.
No IDI Products Available in Wyoming Starting Jan. 1
Due to regulatory changes in Wyoming, we’ll no longer offer, issue or deliver Platinum Advantage, Business Overhead ProtectorSM or Business Equity Protector in the state, starting Jan. 1, 2020. This applies to fully underwritten, GSI and GME policies.
We’ll continue to process increases on existing Wyoming policies with active increase options. Please contact the home office for quotes.
We've refiled Platinum Advantage in Wyoming to meet the new regulatory requirements and expect it to be available for sale later in 2020.
Applications must be signed by Nov. 1, 2019 and received in the home office by Nov. 15, 2019.
For Producers Only