Grow Sales From Your Existing Block With Increases

When you sell a Platinum Advantage Individual Disability Insurance policy, you’ve likely gained a lifelong client. Most policyowners keep their policies for many years, often until retirement age.

As your clients earn more income over the years through raises and promotions, it’s essential that their coverage increases too. This will help prepare them if they’re ever faced with a prolonged absence from work because they’re too injured or ill to work. Ensuring they have the optimal amount of coverage as their income increases will help them cope financially. 

And by making sure your clients have adequate coverage over the years, you’ll also grow your sales. Any increases in premium from your existing block will result in first-year commissions for you.

Two Ways to Increase Coverage

Platinum Advantage includes two ways to increase coverage — without medical underwriting.

The Automatic Increase Benefit increases monthly benefit amounts 4% each year. And the Benefit Increase Rider helps policyowners increase coverage to keep pace with large jumps in income.

Automatic Increase Benefit: Steady Benefit Growth

The Automatic Increase Benefit provides compounded basic monthly benefit increases of 4% each year on the policy anniversary, for six consecutive years, without additional medical or financial underwriting. After six years, policyowners must apply for another six-year period of AIB increases.

The Automatic Increase Benefit is helpful for those who expect their income to rise steadily over time through merit raises, cost-of-living adjustments and other steady increases. It's available on all eligible Platinum Advantage policies at no cost.

Benefit Increase Rider: Bigger Advancements

To help keep pace with larger increases in income, the Benefit Increase Rider provides the option to increase coverage every three years without additional medical underwriting. And those age 50 and younger whose income has increased at least 30% or who have involuntarily lost group long term disability insurance can apply for an accelerated increase before their BIR option date.

The no-cost Benefit Increase Rider is especially helpful for those just starting out in high-income fields and who expect to see higher-than-average salary increases over time. This rider is available on most policies.

We Make It Easy

We’ll send your clients notices 60 days before their BIR and AIB option dates. Don’t miss this opportunity to connect with clients who are approaching their option dates. It’s the perfect time to check on their financial protection needs and to ensure their coverage is up to date.

Contact your General Agent with questions about how to increase coverage with Platinum Advantage.

For Producers Only