Reminder: Upcoming Peak Season for Increase Options

May through October is the peak season for FPO increases as policyowners become eligible to increase coverage to keep up with recent increases in income. The Standard typically receives a large number of increase illustration requests and applications during this time. Here’s what you can expect from us during this busy time, and some tips to help accelerate your applications through the underwriting process as quickly and smoothly as possible.

What to Expect

We’ve been working on a number of process enhancements to better manage your cases and deliver decisions to your customers faster than you’ve experienced in the past during peak season. We have also created additional capacity by dedicating more of our operations and underwriting team to work on your increase option applications. Please note, these changes will have no effect on your access to your dedicated in-force case manager or underwriting team.  

There are a few actions agencies and producers can take to help us provide decisions faster:

Quotes. Consult FPO reports and Policy Inquiry through The Standard’s portal to identify potentially eligible customers and then contact them to assess their need for an increase. Send top-priority requests to DIchanges[at]standard.com for an illustration.

Income documentation.  All illustrations from the home office are sent with links to both the state-approved application and income documentation requirements. You can help reduce delays by submitting the required income documentation with each application.

Submit complete applications. Review all applications to ensure every question is answered. One commonly missed section of the application is the “Other Coverage” section.

By following the above steps you can help reduce delays and deliver decisions faster to you and your customers.

For Producers Only