Tap Into the Latest Program Changes

You have three new features to share with your clients!

Learn more about these recent changes, including:

• New occupations eligible for a 10% Preferred Occupation Discount
• New Business Owner Grid to improve a client’s occupation class
• Fewer restrictions for Government Employees

Occupations Added to the Preferred Occupation Discount

Architects, Consultants and some Office Workers are now eligible for the 10% Preferred Occupation Discount on Fully Underwritten Platinum Advantage Individual Disability Insurance policies.

This means the 5A occupations eligible for the Preferred Occupation Discount now include:

• Actuaries (Fellow or MAAA)
• Architects
• Attorneys (including judges with law degree)
• Consultants and Other Office Workers with no manual duties, earning at least $150,000 each of the last two years (not otherwise classified)  
  The following occupations are excluded:
  • Sales
  • Computer science/IT
  • Insurance producers, financial advisors and financial planners
• CPAs
• Data Scientists (advanced data analytics) with master's degree or Ph.D.
• Engineers with professional engineering license issued by a state licensing board (e.g., civil, mechanical, etc.)
• Executives, in office, earning at least $75,000 per year each of the last two years
• Other managers of people, in office, earning at least $75,000 per year each of the last two years  
  The following occupations are excluded:
  • Sales
  • Computer science/IT
  • Insurance producers, financial advisors and financial planners
• Ph.D. Economists
• Ph.D. Scientists (office and laboratory duties only)

See if any of your clients now qualify for the Preferred Occupation Discount. And review the online transition rules that apply.

Improve Your Occupation Class With the Business Owner Grid

Your business owner clients could qualify for an improved occupation class if they meet the qualifications of our new Business Owner Grid.

To qualify, a business owner must first meet these conditions:

• Own at least 20% of the business
• Have a minimum two years of ownership
• Perform manual duties less than 25% of the time

When your client meets those conditions, continue to the Business Owner Grid below to figure out if they qualify for an improved occupation class.

The Business Owner Grid is not available to financial advisors, financial planners or insurance producers, or those listed under financial services, entertainment industry or real estate. The grid also excludes P, D and S occupations.

Continue using the normal occupation class listing in our IDI Product Guide if:

1. Clients don’t meet the minimum eligibility to qualify for the grid

OR

2. Their occupation class assigned in our manual is higher than what they’d qualify for based on the grid

We will use the higher of the two occupation classes available. The Illustration Software is updated to ensure the best occupation class available is selected.

For the Business Owner Grid, review these transition rules.

Simplified Guidelines for Government Employees

Our expanded government employee eligibility removes special government employee restrictions around maximum age, issue limits and years of service.

And some government employees may be eligible for limit increases. To decide the eligible monthly benefit, we will treat government retirement disability benefits as equal to employer-paid group LTD plans. The new limits are:

• For federal employees, the benefit is calculated using employer-paid group LTD of 40% to a maximum of $15,000.
• For all other government employees, the benefit is calculated using employer-paid group LTD of 60% to a maximum of $15,000.

Find our transition rules for government employee changes online.

Online tools are updated to reflect these changes, including The Standard’s eApp, IDI Product Guide, Illustration Software and other marketing materials.

If have any questions about any changes highlighted in this newsletter, please consult your General Agent.

For Producers Only