Product, New Business, and Underwriting News – Individual Disability Insurance
Updated Individual Disability Insurance Replacement Notices
Several replacement notices have been updated. Following is a list of the new versions and applicable states for use:
KK225-6 (CT, DE, IA, OK, VA, VT, WA, and WV)
KK437-1 (FL)
KK439-2 (IL)
KK440-1 (KY)
KK441-1 (MA)
KK443-1 (NJ)
KK444-1 (PA)
KK445-1 (TX)
KK446-1 (UT)
KK456-1 (ME)
KK473-1 (LA)
Special authorization for medical information
As of Oct. 1, 2024, APS vendors J&H Copy Services and Parameds.com will contact the Field Office Contact listed for a case directly to obtain requested special authorization. The Principal Case Coordinator will no longer facilitate having the special authorization completed when Attending Physician Statements (APS) are needed by the Underwriter. Removing the Case Coordinator from the process reduces the turnaround time by 6 business days, on average.
Important year-end details for individual life and disability insurance
The end of the year is fast approaching! To help guarantee your life and individual disability business is processed and paid in 2024, we need all final underwriting and administrative requirements for policy approval and issuance (including premium) by Dec. 6, 2024, and all delivery requirements for new business, adjustments, and reinstatements by Dec. 20, 2024.
Review additional year-end details and requirements.
Reminder: Disability Mental Nervous and Substance Abuse Limitation
As of October 1, any new applications signed in the state of Minnesota, when the Mental Nervous and Substance Abuse Limitation is selected, Acknowledgement Form (D9718) must be signed by the policyowner and submitted prior to issue. The new form is available from our application submission platforms.
Reminder: Principal® Income Protector available in three additional states
Great news! Income Protector is now available to illustrate and sell in Florida, Montana, and South Carolina. This competitive individual disability income (DI) product will replace our previous version – HH750 – in these three states.
View the transition guidelines.
Learn more about Income Protector.