Principal
Include Existing Client Coverage with Drop Ticket.
To ensure the Drop Ticket program expedites the application process as designed, Principal clarifies how to handle a ticket when the client has pending or existing insurance. View.
Term Conversion Backdating Reminder.
With Term conversion policies, backdating to save age is not allowed. The effective date of the converted policy is the date the conversion is approved. However, Principal will allow backdating to the nearest premium mode in certain circumstances.
Collateral Assignments Process Change.
Principal recently enhanced their collateral assignment process. If the Collateral Assignment form is submitted with the application in good order, Principal is now adding the assignment at issue instead of after delivery.
Application Information Name Change.
In the past, Principal has referred to pending requirements for TeleApp and the online Part B as “TeleApp”. Moving forward, they will now call these pending requirements “Part B” for reporting purposes.
Prudential
PruFast Track Underwriting Launching on August 20, 2018.
PruFast Track was developed to simplify the underwriting process by leveraging Predictive Modeling and is available for most single life products at ages 18 – 60 and face amounts between $100,000 and $1,000,000.
Effective August 20, 2018 – Lower Face Term Submissions Expectations.
Prudential will now expect that all advisors electronically submit a Drop Ticket or Xpress Quick form for any term application with a face amount of $250,000 or less in order to utilize our innovative PruFast Track accelerated underwriting and streamline the new business process.
Allianz
E-app vs. paper Application Processing Times.
Sales volumes expected to be extremely high, which will impact standard service levels. You are encouraged to use ApplyNOW or your firm’s application order entry system, which is the most efficient way to submit your business and for Allianz to process it.
Genworth
In-Force Rate Action Announcements.
New Jersey: Privileged Choice and Classic Select
Effective 08/13/2018
Web Adoption Efforts Targeted at Consumers
Effective 08/13/2018
Legal & General America
Partner Dashboard Login Enhancements.
Legal & General are introducing new login procedures for Partner Dashboard. All users must create their own specific individual accounts through a short registration process. In the fall of 2018, the existing login method will be discontinued, after which all Partner Dashboard users will be required to register and create a new individual account to maintain access.
Lincoln Financial Group
Exec Rider Now Available On Lincoln WealthAccumulate® IUL (2018.)
Effective August 13, 2018, in approved states, the Exec Rider (Alternate Cash Surrender Value Rider) is available on Lincoln WealthAccumulate® IUL (2018). The Exec Rider can be added to minimize the impact on business financial statements and to optimize a premium finance arrangement.
Lincoln LifeAssure® Accelerated Benefits Rider – Now Available on Lincoln VULONE (2014.)
The Lincoln LifeAssure® Accelerated Benefits Rider (LAABR) is now available in approved states on Lincoln VULONE (2014). Available at policy issue, this rider is designed for clients who have a primary need for death benefit protection but are also concerned about the impact that a permanent chronic illness may have on their financial wellbeing but do not want to incur any upfront cost.
Mutual of Omaha
Rate Adjustments Effective November 1, 2018.
In support of Mutual of Omaha’s long-term commitment to the LTCi market and policyholders, they are making necessary rate adjustments.
OneAmerica
Updates to Care Solutions New Business Submission.
OneAmerica makes 3 key improvements to streamlined new business submission process for OneAmerica Care Solutions products and is also providing new and updated resources to give clear guidance every step of the way.
