This information is intended only for insurance producers and not for the general public.
Transition Rules
*These transition rules apply to fully underwritten IDI only. Please contact your case manager for GSI or GME transition rules.
Occupation Class Upgrades
Effective Oct. 16, 2018, occupation classes for the below professions have been upgraded one level for Platinum Advantage, Business Overhead ProtectorSM and Business Equity ProtectorSM. The new occupation classes are:
| Occupation | Platinum Advantage | Business Equity Protector | Business Overhead Protector |
|---|---|---|---|
| Gastroenterologists | 5P | 5A | 5A |
| Neonatologists | 5P | 5A | 5A |
| Pathologists | 5P | 5A | 5A |
| Physiatrists | 4P | 4A | 4A |
| Radiologists (Diagnostic) | 5P | 5A | 5A |
The upgrades don’t apply to Protector PlatinumSM and Protector EssentialSM.
Transition Rules
New Business
- Applications pending an underwriting decision. We’ll upgrade the occupation class, if eligible.
- Policies out for delivery. If requested, we’ll reissue an eligible policy with the upgraded occupation class.
- Policies with effective dates on or after Sept. 16, 2018. If requested, we’ll reissue an eligible policy with the upgraded occupation class. Please note:
- We must receive the request in the home office by Nov. 16, 2018.
- The change will be effective as of the policy effective date and compensation will be adjusted accordingly.
- Policies with effective dates before Sept. 16, 2018. Occupation class upgrades are not available.
Increase Options
- Applications pending an underwriting decision with effective dates on or after Sept. 16, 2018. We’ll upgrade the occupation class, if eligible.
- Increases out for delivery with effective dates on or after Sept. 16, 2018. If requested, we’ll reissue an eligible policy with the upgraded occupation class.
- Increases in force with an effective date on or after Sept. 16, 2018. If requested, we'll reissue an eligible increase with the upgraded occupation class. Please note:
- We must receive the request in the home office by Nov. 16, 2018.
- The change will be effective as of the policy effective date and compensation will be adjusted accordingly.
- Increases with effective dates before Sept. 16, 2018. Occupation class upgrades are not available.
Issue and Participation Limit Changes
Effective Oct. 16, 2018, Issue and Participation Limits for Platinum Advantage policies will change for medical and dental occupation classes.
| Occupation Class | Issue Age | Maximum Issue From The Standard | Maximum Participation | |
|---|---|---|---|---|
| With Other IDI Coverage | With Group LTD | |||
| 5P, 4P, 4S, 3P, 3D, 2P | 18-55 | $20,000 | $30,000 | $35,000 |
| 56-64 | $15,000 | $25,000 | $30,000 | |
Transition Rules
Increases in coverage, for both new business and increase options, must be approved by the underwriter.
The maximum issue limit for individuals ages 56 to 64 in occupation classes 4S, 4P and 5P has been reduced from $17,000 to $15,000. Applicants in this category who want to apply for more than $15,000 from The Standard must complete an IDI Application or Application for Policy Increase (if applicable) by Nov. 16, 2018. We must receive the application in the home office by Dec. 17, 2018.
For applicants ages 18 to 55, the following transition rules will apply.
Note: The increased issue limits may impact eligibility for BIR and/or AIB riders as well as the amount that must be accepted to retain the BIR rider.
New Business
- Applications pending an underwriting decision. We’ll increase the benefit amount applied for, if eligible.
- Policies out for delivery. If requested, we’ll reissue an eligible policy with a higher benefit amount.
- Policies with effective dates on or after Sept. 16, 2018. If requested, we’ll reissue an eligible policy at a higher amount. Please note:
- We must receive the requests in the home office by Nov. 16, 2018.
- The change will be effective as of the policy effective date and compensation will be adjusted accordingly.
- Policies with effective dates before Sept. 16, 2018. Higher benefit amounts are not available.
Increase Options
- Applications pending an underwriting decision with effective dates on or after Sept. 16, 2018. We’ll issue the increase at the higher benefit amount, if eligible.
- Increases out for delivery with effective dates on or after Sept. 16, 2018. If requested, we'll reissue an eligible increase with a higher benefit amount.
- Increases in force with an effective date on or after Sept. 16, 2018. If requested, we'll reissue an eligible increase with a higher benefit amount. Please note:
- We must receive the request in the home office by Nov. 16, 2018.
- The change will be effective as of the policy effective date and compensation will be adjusted accordingly.
- Increases with effective dates before Sept. 16, 2018. Higher benefit amounts are not available.