Transition Rules for Fully Underwritten Applications
Applications pending an underwriter decision as of May 2, 2023. The new occupation class flexibility will be applied for eligible applicants.
Policies pending delivery or accepted with an effective date on or after April 2, 2023. Agencies may request the offer be reviewed to see if the occupation class would change. Request must be received in the home office by June 2, 2023.
Eligible insureds with policies that have an effective date before April 2, 2023. Policyowners must submit a new application for consideration of this change. This would result in a cancellation/ replacement of the existing policy at attained age with a current effective date.
Transition Rules for Increase Options
Increase options pending an underwriter decision with an increase effective date on or after April 2, 2023. Eligible applicants will have the increase issued using the guidelines for occupation class.
Increase options pending delivery or accepted with an effective date on or after April 2, 2023. Agencies may request the occupation class be reviewed for applicable insureds. Request must be received in the home office by June 2, 2023.
Increase options with an effective date before April 2, 2023, are not eligible for reconsideration of a higher occupation class for past increases.