Increased I&P, new unearned income, net worth guidelines
Radius Choice, Radius, and MaxElect disability income (DI) insurance issue and participation (I&P) limits by income have increased! MassMutual also raised its unearned income guideline target, and it has eliminated net worth guidelines and the net worth statement requirement.
New issue and participation limits
Radius Choice, Radius*, and MaxElect* DI issue limits by income have increased up to $4,000, offering added protection for applicants without group long-term disability coverage.
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Non-Taxable Issue Limit
· $350 to $4,000 per month increases at higher incomes at most income levels.
· $1,800 per month overall average benefit increase. |
| Taxable Issue Limit
· $400 to $2,000 per month increases at higher incomes at most income levels.
· $1,350 per month overall average benefit increase. |
Key points:
- Contact Truluma on business pending or issued within 90 days that qualifies for an increase in a monthly benefit amount.
- For inforce business, a Right to Apply (RTA), benefit increase under the Benefit Increase Rider (BIR), and/or Future Insurability Option (FIO) increase may be considered, if eligible.
New unearned income and net worth guidelines
The unearned income guideline target has increased from 15% up to 20% for Radius Choice and Radius. MassMutual will disregard unearned income equal to/less than 20% of total earned income. The net worth guidelines and the net worth statement also no longer apply; however, continue to complete the net worth question on application form A2000.
Additional Info.
- See the Issue and Participation Limits DI Insurance Quick Reference Guide (DI1057) for more details.
