Physician applicants age 18-55 in occupation classes 5P, 4P, 4S and 3P will be able to apply for monthly benefits as high as $30,000. And 5A and 4A applicants age 18-64 will be able to apply for up to $35,000 in monthly coverage. Both applicants applying for new policies and policyowners applying for coverage increases will be eligible for the new issue and participation limits. These limits also apply to Protector Platinum Future Purchase Options issued on Platinum Advantage.
Updated Platinum Advantage Issue & Participation Limits
Occupation
Classes |
Issue Age |
Monthly Coverage |
| Maximum Issue From The Standard |
Maximum Participation |
| With Other Carriers’ IDI Coverage |
With Group LTD From Other Carriers and/or The Standard1 |
| 5A, 4A |
18-64 |
$35,000 |
$35,000 |
$35,000 |
| 3A |
$15,000 |
$25,000 |
$25,000 |
| 2A |
$10,000 |
$10,000 |
$15,000 |
5P, 4P,
4S, 3P |
18-55 |
$30,000 |
$30,000 |
$35,000 |
| 56-64 |
$15,000 |
$25,000 |
$30,000 |
| 3D, 2P |
18-55 |
$20,000 |
$30,000 |
$35,000 |
| 56-64 |
$15,000 |
$25,000 |
$30,000 |
| A, B |
18-64 |
$8,000 |
$8,000 |
$10,000 |
1. When LTD is employer-paid, it may net a higher participation amount than that published
Effective July 13, 2022, more clients will be eligible for Simplified Underwriting. Non-owner employees age 18-50 will be eligible to apply for up to $10,000 in monthly Platinum Advantage coverage using Simplified Underwriting.1
| Product |
Employee Type |
Issue Age |
Maximum Issue From The Standard1 |
Maximum Participation With Other Carriers |
| Platinum Advantage |
Business Owners |
18-50 |
$6,000 |
$6,000 |
| Non-Owner Employees |
18-50
(excluding CA) |
$10,000 |
$10,000 |
| 18-50 (CA only) |
$6,000 |
$6,000 |
| Business Overhead Protector® |
Business Owners |
18-50 |
$10,000 |
$10,000 |
Simplified Underwriting removes the requirement of lab tests and income documentation1, which streamlines the underwriting process and often results in quicker policy placement.
Physicians completing residency or fellowship programs may continue to apply for up to full issue and participation limits under Simplified Underwriting as long as they submit proof of income.
1. In California, the Simplified Underwriting limit will be $6,000 and income documentation must be submitted to include the Benefit Increase Rider in the policy