Policy Delivery - Life Insurance
Face-to-Face Delivery
It is critical to promptly deliver all policies and contracts to customers. Prompt delivery helps:
- Initiate the timing of the free-look period
- Ensure customer receives quality service
- Build relationships between financial professional and customers
- Obtain high quality referrals
- Enhance the financial professional's professional image
- Improve persistency
Examination Offer
The examination offer is a standard provision in all current contracts. It entitles the owner to a refund if cancellation of the policy within ten days (in most cases) of the date the contract is delivered.
The examination offer on such requests starts when the owner receives the contract—not when it's mailed from the home office or received by the financial professional. Therefore, it is essential that the policy be delivered promptly and a delivery receipt secured.
If Financial Professional... | Possible Outcomes... | Then... |
---|---|---|
Delays delivery |
|
Agency management must:
|
Does not obtain signed delivery receipt |
|
Agency management must:
|
Accepts or requests from customer, or submits, delivery receipt signed by someone other than customer |
|
Agency management:
|
Miscommunicates medical information |
|
Agency management:
|
Keeps Possession of Policy or Contract |
|
Agency management:
|
Opens Personal and Confidential letter prior to delivery to customer |
|
Agency management:
|
Does not deliver Buyer's Guide |
|
Agency management must:
|
Delivery by Mail
Applications which were taken by mail might result in having to deliver the policy or contract issued by mail. The financial professional must:
- Comply with all company guidelines, policies, and state requirements.
- Call the customer as soon as possible after receiving the policy/contract.
- Review with the customer the policy/contract, delivery receipt, amendment forms, and riders.
- Mail the policy/contract and other required forms to the customer.
- Follow up regularly to ensure delivery receipt, signed Part D and any other delivery requirements are promptly signed and returned.
For questions, contact:
- Life Insurance: Your Client Administration Underwriter
- Annuities: Annuity Call Center: 515.248.0000
- Disability Insurance: Your Disability Income Services Underwriter