Tips for Renewing the BIR

July 14, 2021
Filling Paperwork

This is a reminder about clients who have an upcoming Benefit Increase Rider option date but aren’t eligible for an increase in benefits. They must still apply to keep the BIR on the policy. This will allow them to increase their income protection coverage in the future.

You can help your clients’ BIR applications sail through the renewal process by following these tips:

Producer Information Report:
Write, “Renewal only, less than 10% increase in income” in the remarks section

Insurance Applied For: 
Check purchase/renew box and indicate $0

Insurance Applied for

General Information #6: 
Indicate current-year and prior income and write,
“Renewal only, less than 10% increase in income”

The policyowner must be a non-owner W-2 employee with less than 10% income increase since the last option date or original issue. All other policyowners must provide proof of income. Proof of income is required for California policyowners, too, regardless of BIR increase eligibility.

There is one exception. If your client is a physician or dental resident still in training, no application is required. To waive the BIR application, please email your General Agent with the client’s name, policy number, specialty and anticipated completion date.

Check out the Benefit Increase Rider flyer for more information on this important rider.

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