Increase Options With Platinum Advantage

February 8, 2017
With the launch of The Standard’s newest IDI product, Platinum Advantage, all increases with an effective date after February 28 in approved states, will be issued as a Platinum Advantage policy. The Standard will match the base policy as closely as possible, while also offering the increased flexibility of Platinum Advantage. 
For all increases with an effective date after February 28, a Platinum Advantage Increase Option application must be submitted. If the effective date is February 28 or before, you may request a Platinum Advantage, Protector PlatinumSM, Protector EssentialSM, or Protector+SM* increase. The appropriate Application for Policy Increase and required income documentation must be received in The Standard’s home office no more than 30 days after the Increase Option date.
Platinum Advantage Increases
A Platinum Advantage Application for Policy Increase must be submitted for the increase to be issued on the Platinum Advantage product. Every effort will be made to match the base policy, regardless of the base policy product, as closely as possible. 
For example, any policy increases issued on a Protector Platinum base policy will automatically include the Platinum Advantage Enhanced Residual Disability Benefit Rider. However, your client can take advantage of the increased flexibility of Platinum Advantage by changing their Residual Disability Benefit Rider to Basic (for all occupation classes) or Short-Term (for occupation classes, A, B, 2A and 2P). Policy increases issued on base policies of all products other than Protector Platinum will be issued with the Basic Residual Disability Benefit Rider.
Additionally, all Platinum Advantage increase policies on Protector Platinum base policies will be issued with unlimited mental disorder and substance abuse coverage for all occupation classes. The mental disorder and substance abuse coverage issued on increases for all other contracts will match the coverage on the base policy. The increase policy can be further customized by removing riders. Please ensure your client understands that while removing riders from the policy increase may result in lower premium, it may also result in lower benefit payments. 
The following riders will not be issued with any increase options from any product:  the Automatic Increase Benefit, the Benefit Increase Rider, the Catastrophic Disability Rider and the Student Loan Rider. 
For questions regarding increase options, please contact DIchanges[at] or your in force case manager.

*Protector+ policies sold in VT.