Make the Most of Platinum Advantage Discounts

July 10, 2019

Help your producers make the most of Platinum Advantage premium discounts. Our multi-life discounts — Employer-Based and Residency — can help bring in multiple applications from a single source. And our Business Owner Discount, combined with the Multi-Product Discount and the Employer-Based Multi-Life Discount, can add up to big savings for your clients.

Here’s a quick reminder about the four Platinum Advantage discounts.

Employer-Based Multi-Life Discount

Individuals working for the same employer are eligible for a 10% discount if three or more employees — or as few as two business owners — apply for individual disability insurance within six months. This discount may also apply to contractors sharing a worksite.

Multi-Product Discount

You can offer a discount on Platinum Advantage to policyowners who are also applying for a Business Overhead ProtectorSM or Business Equity ProtectorSM policy at the same time. To qualify for this 5% discount, the client must buy two or more policies concurrently. Use this discount to offer more value and help your clients protect their businesses as well as their incomes.

Business Owner Discount

Qualifying business owners can receive a 10% discount on Platinum Advantage. To qualify, owners must own at least 20% of the business, employ at least one full-time-equivalent employee and provide documentation to show two years of financial success. Certain occupations are excluded. See the online reference product guide for details.

Residency Multi-Life Discount

Most hospitals and university medical centers can establish a 10% discount for medical residents and fellows. This discount is available to CODA dental residents as well. To qualify, the institution must be accredited by ACGME, AOA or the Commission on Dental Accreditation. We must receive applications for at least three lives within a six-month period. Don’t forget, your producers can offer the 10% Employer-Based Multi-Life Discount to non-resident employees at institutions with an established Residency Multi-Life Discount. 

To find out if an institution already has a Residency Multi-Life Discount in place, visit the Residency Discount Institutions webpage.

To make the most of these programs, check out the Premium Discounts flyer to learn how you can combine discounts, offer up to 25 percent off and deliver the value clients are looking for. We’ll share information about Platinum Advantage discounts with producers in our next IDI Connect.


First To Know