Protective New Underwriting Guideline Changes
Effective Immediately
Changes to Inspection Report Requirements
An Inspection Report is now required at the following face amounts and ages:
- $5 million and up for ages 0 - 64
- $2 million and up for ages 65 - 70
- $1 million and up for ages 71 - 75
- All face amounts for ages 76 - 85
Previously, an Inspection Report was required for all cases of $1.5 million and above, and at age 75 and over for all face amounts, with the exception of TeleLife cases.
Changes to Financial Underwriting
Financial Underwriting guidelines have also been expanded to now include specific information about Personal Coverage, Business Coverage, Confidential Financial Statements and Third-Party Verification of Assets.
Updated Underwriting Guide
An updated version of the Underwriting Guide is now available online in pdf format and will be available for order within the next two weeks.