Use the “extended term insurance option” to stop premium payments and have coverage last for years.

Use the “paid-up insurance option” and have a reduced death benefit that lasts the insured’s lifetime with no more premium payments.

Use the “cash out option” and receive the policy’s net cash value upon surrender of the policy.

And, another groundbreaking option for agents,

Ability to earn an additional commission when the death benefit is paid, when you add the no-cost Income Assured Option rider.

Please see the below details related to forms changes that will impact you and our field partners. 

• What’s Changing:
  • The HIPAA Attestation & PLA200 (Paper life application) have been updated.  (Both Liberty & BGA/PW)
  • VUL Strategic Objectives Premium Payment Allocation Form update (BGA/PW VUL only)
• Effective Date of Change:
  • April 1, 2022 with Grace Period to 5/1/2022.  After 5/1/2022 applications packets with old forms will be NIGO
• How we’re communicating:
  • Know What Matters January Article to BGA
  • This communication to Protective Distribution
  • If you know your relationships use a paper process, it’s especially important they update their pkgs & forms so please share as appropriate!
• Details on change:
  • PLA-200 App and VUL Payment Allocation forms were redesigned to provide a cleaner layout with more clear direction around information required which makes it easier to complete
  • HIPAA form was updated in the disclosure section to provide more specific information related to the types of data collected & run against our risk services

• Transition Rules:
  • New forms will be generated through all application submission platforms beginning 2/1*
  • New forms will also be placed on the MyProtective platform for paper application users.
  • Transition Rules attached for BGA & Liberty (slightly different rules based on submission and product types)
  • There are multiple state specific & ICC versions of each of these new forms, please see the forms portal on MyProtective.com for new versions by state (available 2/1)