September 2017 Streamlining Product Portfolio We are proud to offer a robust and highly competitive product portfolio including Term, IUL, GUL and VUL Life products. At this time, we are taking the opportunity to streamline our product portfolio by discontinuing products with low utilization. With that, effective September 29, 2017, the following products will be discontinued: AG ROP Select-a-Term — (Policy Form 14220, ICC14-14220) Elite Index II — (Policy Form 13717, ICC13-13717) Transition Rules: AG ROP Select-a-Term and Elite Index II Transition Rules Effective September 29, 2017 the AGL versions of ROP Select-a-Term and Elite Index II products will be
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IRS Form 4506T-EZ: Making It Easier For You
At Transamerica, we continually strive to update and improve our processes and procedures to better serve you. As we may occasionally require access to a client’s past tax transcripts as part of the policy issue process, we are making the Internal Revenue Service (IRS) form 4506T-EZ available on agent/producer web portals. Form 4506T-EZ is required for all Transamerica life products that have face amounts greater than $2.5 million and at underwriter discretion to verify financial information. Check out the 4506T-EZ FAQ for more information or contact the Transamerica sales desk with any questions. Thank you. About Form 4506T-EZ: Form 4506T-EZ
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Billing Enhancements to Customer Access Site
On July 18th, we improved the tools your clients can access when visiting the Customer Access site. By simply logging on to Customer Access, clients will be able to do the following and these will now occur in real time (1-2 business days). Billing/Bank Information Update bank information if they are paying via auto deduction Set up or remove automatic deduction Update billing information and/or re-start billing on policies using automatic deductions Change frequency of billing (example: annual to semi-annual) Change withdrawal date of premiums If you have any questions, contact Mutual of Omaha’s Customer Contact Center Support at 1-800-775-6000.
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New Agent Notifications for Client Policy Changes
In order to help you serve your customers more effectively, we now have additional notifications of policy events for the agent of record. When a customer calls in or makes the following changes to their policy, an email will be generated to the agent notifying them of the change. This will help in monitoring your clients’ policies and allow you to have upfront knowledge of policy changes and/or cancellations. Effectively immediately, you will now be receiving emails on the following policy events: Policy Events Policy Value Inquiry Mode Changes Returned Premium Notice Term Conversion Premium Change Beneficiary Change Activity Policy
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New Term Life Answers e-App
A new Term Life Answers eApplication will be available on July 22, 2017 for all states, except California. To avoid delays in policy issue, please submit all your applications (including all signatures) by July 21, 2017. In California the full eApp must be submitted (including all signatures) by July 21, 2017. On July 22, 2017 only the Speed eTicket (drop ticket) process will be available in California. The new full TLA application is pending state approval. TLA is not available for sales in New York. Applications that are not submitted by July 21, 2017 will lose information in the transition
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Sentinel: Life Advance Interest Notice
The lending institution that Sentinel now uses charges interest for commission advances. As a result Sentinel will charge a 1% interest per month on outstanding advance balances for life policies, effective 08/01/2017. If you have any questions, please contact the Commissions and Licensing Department at 1-800-247-1423. #goldencareagent #sentinel
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Form Required 8/1; Revised Application Required 10/1
Model Replacement Form Required Aug. 1, 2017, Newly Revised MO Application required 10/1/2017 Effective August 1, 2017, the Model Replacement form (REPL-2000) is required to be completed and submitted with new business paperwork whenever a proposed insured states they have existing insurance coverage, even if they don’t plan on replacing that coverage. The REPL-2000 replaces the existing Model Replacement form, form MO-R1. This form is required for Individual Life and Annuity agents/producers; Missouri Preneed agents/producers are exempt from this change. The MO application form 2735FE has also been revised to accommodate the State of Missouri’s Model Replacement requirement; a
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Transamerica Product Updates
At Transamerica, we continue to seek ways to improve our services, offerings, and processes to make working with us easier for you and your customers. We’re streamlining our product line to focus on the products you’ve told us are the most important while developing the new products and services that you’ve asked for. The products listed below will no longer be available for sale after July 14, 2017. All applications must be received in the home office prior to 4:00 PM ET on Friday, July 14, 2017, to be processed. Any application for one of the listed products received after
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Sentinel Independence Day Holiday Office Hours
Holiday Office Hours It’s time for picnics, ice cream, fireworks, and holidays! Our administrative offices will be closed all day on Tuesday, July 4, 2017 in observance of Independence Day. We will resume normal business hours on Wednesday, July 5, 2017. Commissions that would have been paid on July 4th will be paid on July 5th per our regular schedule. #goldencareagent #sentinel
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UPDATE: Form Required August 1, Model Replacement Form
Model Replacement Form Required August 1 in Select States Effective August 1, 2017, NGL will be complying with the state-mandated Model Replacement rule in the required states. Certain states require a Model Replacement form to be submitted with paperwork whenever the proposed insured answers yes to the Applicant Replacement question, even if they don’t plan on replacing that coverage. Between now and August 1, 2017 – policy issuance will not be delayed during this implementation period. Effective August 1, 2017 – policy issuance will be delayed if the form is not included with submitted paperwork. As of 6/22, the following
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