Life Insurance New Business Page
Add "Top 10 List for Getting Prospect to Paycheck"
#1 Make Sure Clients Sign Everything!
Proposed insureds and owners must sign and date applications, illustrations, replacement forms, state-required forms and 1035 exchange forms
#2 Illustrations Must Accompany the Application for Permanent Insurance
Both agents and owner must sign and date the illustration. All pages must be submitted and have the same "date prepared."
#3 If They Answer "Yes," Tell Us Why
Provide details for any questions answered "yes" in Part 1 and/or Part 2 of the Application.
#4 Be Sure You're Appointed
Your own paperwork could hold up the policy if you're not appointed to write for the company checked on the application. Make sure you are appointed and that your appointment is active!
#5 Replacement Forms Aren't Only for Replacements
Each state has it's own application form and some require a Replacement Form even if the new policy simply adds more coverage.
#6 Get Doctor Data
Provide medical information, including doctor's names, addresses and telephone numbers.
#7 Finish the Policy Delivery Paperwork
The policy isn't in-force until all delivery requirements are received. Commissions are released when all licensing and delivery requirements are received and the policy is in force.
#8 Get the Names Right
Use only proper legal names
#9 Add Up the Beneficiaries
Portions must add up to 100%. Include each beneficiary's relationship to the insured.
#10 When a Child Is the Insured
An adult - usually a parent - must be the policyowner, and the amount of insurance must be in line with what the child's parents and siblings have. Otherwise, an explanation may be needed.