Principal's MNSA rider no longer required in Michigan, Arizona or New Mexico
Effective March 24, the Limitations of Benefits for Mental/Nervous and Substance Abuse Disorders (MNSA) rider is no longer required in Michigan, Arizona or New Mexico for newly-issued Individual Disability Income (DI) insurance policies - for single or multi-life cases*.
There is a transition plan in place for this change:
- Pending Applications - Applications currently in underwriting will be issued with the MNSA rider included until May 22 (60 days) unless you request the rider to be removed.
- Policies Pending Delivery - Policies pending delivery will not be re-written to remove the MSNA rider unless an email is sent to DIBroker prior to May 22.
- Inforce Polices - You can request to remove the MSNA rider from policies issued between January 25 and March 24 until May 22. No policies issued prior to January 25th with the MSNA will be re-written to remove the MNSA rider.
Requesting a removal of the MSNA rider
If a producer wants the MSNA rider removed during any phase of the sales process, he/she should send an email to DIBroker. The request is subject to underwriting and if the policy is issued or re-written without the MNSA rider, it will include an amendment to recognize the removal of the rider. Note: Removing the MNSA rider will increase the client's premium (since the MNSA rider provides a discount); any additional premium will need to be submitted.
For more information about this change please contact DIBroker.
