Effective now, Protective has changed our form requirement related to non-parental (parent or legal guardian) ownership on a life insurance policy for a minor.

The updated Parental Content to Insurance form (PLX-U398) encompasses more expanded ownership relationships beyond “grandparent” and now references “non-custodial parent/legal guardian.” It requires the parent/legal guardian and the owner to provide signatures related to insurable interest in all states. This form is required on all life insurance policies with a minor insured where the owner is not the parent/legal guardian – it must be received in good order prior to policy issue.

Case managers will provide the form to clients to obtain signatures; the form is also available on MyProtective.com. Later this year, we will implement system changes to support collecting the form through our life application platforms online.

Let’s deliver on our promises. Together.

PLAG.3689532.03.22
For Financial Professional Use Only. Not for Use With Consumers.

Write A Comment