IDI Changes to Help You Sell More (Including a Discount!)

September 18, 2019

We made some changes that will help your advisors sell more — whether they’re selling fully underwritten, GSI or GME income protection policies (or in California!).

For Fully Underwritten Income Protection

New Preferred Occupation Discount. Sweeten the deal for your top clients with the Preferred Occupation Discount. This 10% discount on Platinum Advantage is available to several 5A occupation classes:

  • Executives earning $200,000+ a year
  • CPAs
  • Engineers with professional degree
  • Scientists with Ph.D.
  • Actuaries, FSA or MAAA
  • Data Scientists with M.A. or Ph.D.
  • Economists with Ph.D.

You can combine the Preferred Occupation Discount with other discounts — such as the Multi-Life, Multi-Product or Business Owner discounts — for up to 35% in savings! Check out the updated Premium Discounts flyer and Online Reference Product Guide for more details. For applications or policies recently submitted, please see the transition rules.

Expanded Special BIR Accelerated Option for Medical Residents and Fellows. Now your resident and fellow clients can apply for a special accelerated benefit increase during the 12 months after they complete their training. This doubles the post-training window to increase up to I&P limits with proof of income or up to new-in-practice limits without income documentation.

Also, residents and fellows completing their training can apply for a special accelerated benefit increase up to normal I&P limits with a signed employer contract up to six months before the beginning of employment.

Lastly, four occupations have changed occupation class. For Platinum Advantage, CRNAs will change from 3P to 2P, pharmacists from 5P to 4P, opticians who dispense only from 3A to 3P and opticians performing all duties from 2A to 2P. See the Occupation Class List in the Online Reference Product Guide for occupation class changes for other products.

For Guaranteed Standard Issue Income Protection

Catastrophic Disability Benefit Maximum Now $12,500. With Platinum Advantage GSI, employers can offer more coverage to their employees who suffer a catastrophic disability. We’ve increased the maximum benefit allowed under the Catastrophic Disability Benefit Rider from $10,000 to $12,500, subject to underwriting review.

Occupation Class Changes. For Platinum Advantage and Protector PlatinumSM GSI, CRNAs will move from 3P to 2P, opticians who dispense only from 3A to 3P and opticians performing all duties from 2A to 2P. For Platinum Advantage, pharmacists will change from 5P to 4P and for Protector Platinum, pharmacists will change from 5A to 4A.

For California

Platinum Advantage arriving Jan. 1, 2020. Your producers can sell Platinum Advantage in California, starting Jan. 1. See what’s on the horizon for California clients — check out previews of the Platinum Advantage Policy Differences Comparison and the Consumer Brochure.

As we get closer to the launch date, explore Partner Resources for more previews of California Platinum Advantage marketing materials.

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