The Standard Announces
Higher Occupation Class Ratings

The Standard is pleased to announce, effective immediately, new higher occupation class ratings for many occupations. A sampling of those changes is listed below.

Please see the online reference The Protector SeriesSM Product Guide, 9251REF, for all the changes. Other materials will be updated in the future

Transition Rules

Pending Business

For occupation classes experiencing an increase: Pending IDI applications that are in underwriting or have been recently issued, but not yet placed, may be eligible for the increased benefit amounts and reduced premiums as a result of these occupation class changes. Please contact your Customer Management Specialist.

For occupation classes experiencing a decrease: Pending IDI applications dated on or before 4/4/10 where there is a decrease in the occupation class will still receive the higher occupation class. For applications dated after 4/4/10, the new occupation class will be used. IDI applications dated on or before 4/4/10 requesting the older, and higher occupation class, must be received at the The Standard's home office on or before 5/4/10 in order to be eligible for the old occupation class. Please contact your Customer Management Specialist.

Policies Already in Force

Policies delivered to the insured after 2/4/2010 may be exchanged for a policy with the higher occupation class and new benefit amounts by request. The last date to initiate the request for exchange to receive the occupation class and higher benefit amount is 4/4/2010. Those cases where policies were delivered to the insured before 2/4/2010 or those that fall after the 4/4/2010 notification deadline require a new fully underwritten application in order to receive the new occupation class and benefit amount. Commissions will be treated as a replacement and are payable only to the extent of a premium increase. For more information or to initiate such a change, please contact your Customer Management Specialist.

Any increase in benefit limits to either pending or in force polices require underwriter approval.

How to illustrate the new changes

In order to illustrate these occupation class changes, please download Software Update 243.

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