The Standard COVID-19 Update:
Underwriting and Grace Period Changes
COVID-19 Update
As we all adapted to the COVID-19 pandemic earlier this year, The Standard introduced several temporary guidelines to help customers get and keep IDI. On July 31, 2020, these temporary guidelines will expire and we’ll return to our normal guidelines with one exception. We’ll continue to not require labs or exams for some applications through Sept. 30, 2020.
We’ve implemented important changes — driven by feedback from our distribution partners — in The Standard’s Illustration Software.
Users may remove the Benefit Increase Rider and Automatic Increase Benefit Rider from an illustration. Now you can better match client illustrations with underwriting offers. Also, when you return to a saved fully underwritten illustration, the effective date will automatically update to the current date. The insurance age will also update if needed.
