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Occupation Class Upgrades and Changes

We’ve made several occupation class changes to align The Standard's business products with Platinum Advantage. These changes primarily affect business product applicants in medical occupations. Additionally, neonatologists have been upgraded to 4P for Platinum Advantage, and dental hygienists, as of June 30, will no longer be eligible for any individual disability insurance products from The Standard.

The IDI Online Reference Product Guide has been updated to reflect these changes.

Business Product Occupation Class Changes

Occupation classes for The Standard’s IDI business products — Business Equity ProtectorSM and Business Overhead ProtectorSM — have been changed for many medical occupations.

The following occupations have been upgraded by one class for business products only:

  • cardiothoracic surgeon
  • endocrinologist
  • geneticist
  • hematologist
  • infectious disease
  • interventional nephrologist
  • nephrologist
  • neuro-otologist
  • medical oncologist
  • pediatrician
  • radiation oncologist
  • thoracic surgeon
  • colorectal surgeon
  • family medicine
  • geriatrician
  • hospitalist
  • internist
  • medical physicist
  • neurosurgeon
  • nuclear medicine
  • surgical oncologist
  • plastic surgeon
  • surgeon, general
  • vascular surgeon

The following occupations have been downgraded by one class for business products only:

  • Dental specialists
  • Podiatrist/chiropodist
  • gynecologic oncologist
  • physiatrist/physical med & rehab
  • large animal veterinarian

Transition Rules

Upgrades

  • Any qualifying policies currently pending in underwriting or delivered but not yet in force will be upgraded to the new occupation class.
  • The Standard will honor the upgrade for any policies placed in force on May 15, 2017 or later, including exercised Future Purchase Options. These policies can be returned and reissued at the new occupation class. Requests must be received in The Standard’s home office by July 14, 2017. Commissions will be adjusted accordingly.
  • If policyowners with qualifying policies placed in force prior to May 15, 2017 would like to upgrade their occupation class, a new application must be submitted. These applications will be processed as a cancellation/replacement. Factors, such as time since the original application, may require updated medical and income documentation. If the policy is still in the first year, commissions will be adjusted based on the effective date of the change.

Downgrades

  • Any qualifying policies currently pending in underwriting or delivered but not yet in force will be issued and placed in force with their occupation class at time of application.
  • The Standard will accept individual disability insurance applications using the prior occupation class if they are signed by June 30, 2017 and received at The Standard's home office by July 14, 2017.

Ineligible (dental hygienists)

The Standard will accept individual disability insurance applications for dental hygienists that are signed by June 30, 2017, and received at The Standard's home office by July 14, 2017.

For Producers Only

Content Topics

More About Updates

We're adjusting our Platinum Advantage rates and extending discounts to more states. These adjusted rates and discounts for The Standard’s fully underwritten Platinum Advantage product are now available in all states except South Carolina.
The Standard’s Electronic Medical Questionnaire is now available in all states except New York and South Carolina.
Our new sales consultants have extensive individual disability insurance experience and will report to Joe Boland, our new manager, sales operations.
We’ve lowered rates on Platinum Advantage, increased the Preferred Occupation Discount to 20% and launched a new 5% eApply Discount.
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