Advisors Blog

COVID-19 Updates: Fewer DI Exams | Paper Policies Suspended | and more

Published on April 02, 2020



GBS remains committed to serving our customers and provide valuable service. We encourage you to take advantage of submitting business electronically, where possible, and to make use of our GBSLife Agent Portal to access carrier applications, requirements, and other documents.

Stay safe, and please contact us for any questions or concerns you may have.


Paper Policies Temporarily Suspended

For policies issued on or after 12:00pm ET on March 27th, traditional paper policy prints will be unavailable for all life insurance products, including Lincoln MoneyGuard. ePolicy delivery and PDF policy delivery options will remain available and must be leveraged during this time when paper policies are unavailable. ePolicy delivery offers secure online review of your policy and enables electronic signing for the agent and client from a computer or mobile device. After all signing parties have completed the process, the policy is immediately available for download.


No Labs or Exams for More Clients

Starting immediately until May 31, 2020, labs or exams are not required for applicants of all ages for:

  • Platinum Advantage - max monthly benefit up to $10,000
  • Business Overhead Protector - max monthly benefit up to $25,000
  • Business Equity Protector - max benefit up to $1,000,000

New Premium Limits for Certain Life Insurance Products

Due to the current interest rate environment, effective March 25th, Protective will be implementing new annual premium limits on the following products:

  • Protective Advantage Choice UL - $500,000
  • Protective Indexed Choice UL - $1,000,000
  • Protective Custom Choice UL - $1,000,000
  • ProClassic II Ul - $1,000,000

Important Underwriting Updates

Effective immediately, AIG will require a statement of health for all life insurance policy approvals moving forward, however, most underwriting requirements remain unchanged. If you have a specific case needing special attention, please reach out to your brokerage manager.




We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966

For agent use only - not for use with the general public.

Corporate CA License No. 0D87913


21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. do not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

© 2020 Arthur J. Gallagher & Co. 




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