The current economic environment has necessitated alterations in the occupations Assurity will consider for coverage with AssurityBalance® Disability Income Insurance (DI) and Business Overhead Expense Insurance (BOE). Occupations that could experience increased job losses, salary reductions and fewer hours worked need to be given special consideration until the economy rebounds to satisfactory levels. 

Effective with applications dated Feb. 16, 2009, Assurity will make changes for occupations in the financial services and real estate industries. 

We will consider the following occupations for AssurityBalance DI and BOE: bond and stock traders (not on the floor of an exchange, and not day traders), investment analysts, investment bankers, real estate attorneys, mortgage brokers, mortgage originators, real estate agents/brokers and residential construction personnel.

We will not consider the following occupations for AssurityBalance DI or BOE coverage: commodity brokers, traders actively on the floor of an exchange, day traders, hedge fund managers, venture capitalists or real estate developers.

In addition, Assurity will:

• Limit our Issue and Participations limits to $10,000 a month in the financial services and real estate occupations ($15,000 I&P with group long-term disability in force)
•  Not consider an occupational upgrade for owners of financial services or real estate companies
• Continue to  not use depreciation in calculating eligibility (in any occupation)
• Ask for detailed cover letters with the application for eligible jobs within these two industries
• Look at the more recent income (or project income levels) in these occupations which reflect today_s economic realities

As always, we will underwrite on a case-by-case basis, and look at input from our producers.  We will look at individuals for their employment history, prior earnings and future income potential.  Implementing these changes will protect the new business being written.  Clients need to be prepared that we may use many avenues of investigation to make an informed decision. 

 
Your understanding during this difficult economic time is appreciated.  Please contact DIS at (800) 898-9641 for questions.