The COVID-19 pandemic has affected us all in ways big and small. To help clients get and keep their Benefit Increase Rider during this time, we’ve temporarily eased our BIR rules.
New Applications - Acceptance Requirement for BIR Lowered to 50%
We’ve lowered the requirement that applicants accept 75% or more of the maximum benefit amount they qualify for to receive the BIR. Now accepting as little as 50% will make them eligible for the BIR, if the application is signed by May 31, 2020. Existing eligibility requirements apply.
In Force Policies – Requirements to Renew BIR Temporarily Waived
We’ll automatically renew the BIR for policies with BIR option dates between March 1 and May 31, 2020, even if applicants haven’t applied for an increase or have accepted less than 50% of the maximum increase amount they qualify for.
