February 19, 2020

Expanded Simplified Underwriting for Physician Residents

Simplified Underwriting Up to I&P Limits for Physician Residents


The Standard has expanded Simplified Underwriting! Now physician residents and fellows who have employment contracts can secure monthly benefits to cover more of their new income from the start. With Simplified Underwriting, they can apply for up to issue and participation limits with no medical labs or exams.

Simplified Underwriting up to new-in-practice limits will still be available to clients without income documentation.

Who Qualifies

Physician residents or fellows within six months before or after completing training.

What’s Required

If applying for benefits above new-in-practice limits, applicants must submit appropriate financial documentation such as a signed employment contract or a paystub if already working.

Please note that group long term disability insurance coverage will be considered when applying for more than new-in-practice limits.

Transition Rules

Applications pending an underwriting decision. If you have a pending application that’s eligible for an increase in benefit amount under the new rules, please request the benefit change and submit the required income documentation by March 14, 2020.

Policies pending delivery or with effective dates on or after Jan. 14, 2020. Please submit your request for a new benefit amount and the required income documentation by March 14, 2020. Policies with effective dates before Jan. 14, 2020. These policies aren’t eligible for a benefit change under Simplified Underwriting rules. However, they may be eligible to exercise an accelerated BIR.


Employer-Based Multi-Life Discount
Not Available With Residency Discount

The Standard will no longer automatically extend the 10% Employer-Based Multi-Life Discount to non-resident employees of ACGME, AOA or CODA institutions with Residency Multi-Life Discounts.

If employees of an institution have received the Employer-Based Multi-Life Discount due to an existing Residency Discount, that institution may keep the Employer Multi-Life Discount in effect. Normal Employer-Based Multi-Life Discount maintenance rules will apply.




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