Introducing DInamic Cornerstone Income Protection
Now available for illustrating and submitting new business! With the new Cornerstone product, Ameritas has added some exciting features! Here is what you need to know:
- Three new riders: Benefit Increase Rider, Enhanced Plus Residual Rider, and a Lumpsum Savings Rider
- Mental Nervous Disorders and Substance Abuse: now there is coverage to the benefit period, there is also a discount for taking a 2 year limitation (noncancelable contracts and specific occupation classes only)
- A new discount associated with the e-application, EZ-App process and Electronic Delivery of the policy. This replaces the Preferred Occupation Premium reduction and is now open to all occupations. The discount is 6%. (the discount is not available for traditional paper applications)
- Business Overhead Expense remains under the DInamic Foundation policy series and is not affected by the new DInamic Cornerstone Protection product. Please contact our DI Marketers for assistance on submitting IDI and BOE combination sales.
New business guidelines:
- As of today, the EZ App is not working for the new Cornerstone product. Until tele-underwriting services are made available (hopefully in a few weeks), to apply the E-discount (6% for electronic applications), Parts 1 and 2 of the application are submitted as an eApplication (not a paper application) and eDelivery is elected. Also, you must include the Lifestyle and Health Questionnaires. For producers who prefer to delegate the Lifestyle and Health questions to the client, they can complete much of the application and send it to the client to fill out the Lifestyle and Health Questionnaires online, sign and submit. For special instructions on how to complete the online application to include the questionnaires, please contact our DI Marketers.
- Paper applications will be accepted for products. These applications are not eligible for the E-discount.
Transition guidelines:
- DInamic Foundation applications must be submitted and received by Ameritas no later than March 31, 2023. After March 31, 2023, DInamic Foundation applications will not be accepted – there will be NO exceptions.
- EZ App remains available with DInamic Foundation. There are no changes to the current process.
- DInamic Foundation policies that have an issue date on or after November 23, 2022, may be reissued as a new DInamic Cornerstone policy upon request. These requests must be submitted and received in the new business area no later than March 3, 2023 and must be accompanied by a new DInamic Cornerstone application, to include the Lifestyle and Health Questionnaires and illustration. NOTE: additional requirements may be necessary at underwriter discretion and all changes must be approved by underwriting.
For more information contact our office at 248-553-9505.