Principal Income Protector is available for sale in North Dakota, South Dakota, and Wyoming effective Dec. 1, 2023. It will now replace our previous individual disability income (DI) product—HH750—in all states except CA, FL, MT, NY, and SC. Following are important dates for transition from HH750 to Income Protector in North Dakota, South Dakota, and Wyoming.
Important dates for both single life and Guaranteed Standard Issue (GSI) cases
- Income Protector is available to illustrate and sell in North Dakota, South Dakota, and Wyoming effective Dec. 1, 2023.
- We’ll continue to accept applications for the HH750 product from Dec. 1, 2023, to Feb. 2, 2024.
- All applications received after Feb. 2, 2024, will be issued as Income Protector. We will not accept any HH750 applications.
- For GSI cases effective Dec. 1, 2023:
- New employer-paid and bonus (mandatory GSI cases) will be sitused and quoted based on the most current approved product in that state. Voluntary GSI cases will not be sitused.
- For existing cases with the HH750 product, increases will be handled as an adjustment to the current policy. New hires added to the plan will get Income Protector (where available).
Policy re-issues
- No re-issues of in force HH750 policies to Income Protector will be allowed.
State approvals
- Income Protector is approved in all states except CA, FL, MT, NY, and SC.