Occ Class Upgrade and NIP Limit Increase
Effective May 1, 2025
Occupation Class Upgrades
Transition Rules for Fully Underwritten Applications
- Applications pending an underwriter decision May 1, 2025: The upgraded occupation class and Preferred Occupation Discount will be added for eligible applicants.
- Policies pending delivery or accepted with an effective date on or after April 1, 2025: The agency may request the policy be reissued with the upgraded occupation class and discount. The request must be received in the home office by June 1, 2025.
- Policies with an effective date before April 1, 2025: Policyowners must submit a new application to receive the occupation class upgrade and discount. If approved, this would result in the cancellation and replacement of the existing policy at the age attained with a current effective date.
Transition Rules for Increase Option Applications
- Increase options pending an underwriter decision with an increase effective date on or after April 1, 2025: The upgraded occupation class and discount will be added for eligible applicants.
- Increase options pending delivery or accepted with an effective date on or after April 1, 2025: The agency may request the increase be reissued with the upgraded occupation class and discount. The request must be received in the home office by June 1, 2025.
- Increase options with an effective date before April 1, 2025, are not eligible for the occupation class upgrade.
- Increase options with an effective date on or after June 1, 2025, will be issued with the upgraded occupation class and discount.
FUW NIP Limit Increase
$8,000 New-in-Practice limits for all MDs and DOs, Fellows and Final-Year Residents and Transition Rules for Fully Underwritten Applications
- Applications pending an underwriter decision: If eligible, the agency can request to apply for the increased limits.
- Policies pending delivery or accepted with an effective date on or after April 1, 2025: If eligible, the agency may request the policy be reissued with the increased limits. The request must be received in the home office by June 1, 2025.
- Policies with an effective date before April 1, 2025: Policyowners must submit a new application to receive the increased limits. This would result in the cancellation and replacement of the existing policy at the age attained with a current effective date.
Transition Rules for Increase Option Applications
- Increase options pending an underwriter decision with an increase effective date on or after April 1, 2025: Eligible applicants will receive the benefit amount that brings the benefit amount up to the increased limits.
- Increase options pending delivery or accepted with an effective date on or after April 1, 2025: If eligible, the agency may request the increase be reissued with the benefit amount that brings the total benefit up to the new limit. The request must be received in the home office by June 1, 2025.
- Increase options with an effective date before April 1, 2025, are not eligible for the increased NIP limits.
- Increase options with an effective date on or after June 1, 2025, will be issued with the increased limits, if applying under that option.