News

Genworth Conversion product changes

Genworth announced that they are removing their GENGUARD GUL product for conversion purposes.  They will offer a current assumption product ( the Life Ready UL II ) for all future conversions.

September 2nd will be the last date to submit conversions using the Genguard GUL. Applications must be received by end of business day Sept 2nd. 

Submit any Genworth conversions you have as soon as possible.  

Click here for more information.

Drop Ticket Required for Genworth Term App $250,000 and below

The Genworth Financial companies are committed to making term life insurance solutions more efficient.  Our industry-leading Life Quick Request (LQR) fulfillment platform makes sales simpler and results in better placement rates.  Using LQR technology is faster, much more efficient and ultimately reduces cycle time by up to 50% and increases placement rates by up to 8%.

In keeping with this strategy, effective April 7, 2014, Colony Term applications with face amounts of $250,000 or below that are eligible for Life Quick Request, must be submitted through LQR, iLQR through iPipeline, or Aplifi AFFIRM for Life to be Commissionable.

Please click here for the bulletin

 

Term Life Policy Fee Information

Small premium Term case? Make sure you get paid on the policy fee!

If you sell a carrier with a "non-commissionable policy fee, YOU TAKE A HUGE COMMISSION HIT.

 For your smaller Term cases consider these carriers.

American General Life- $249,999 and under face amount policy fee $74 is commissionable

ING- $199,999 and under face amount policy fee $68 is commissionable

Protective- No policy fee, entire premium (up to target) is commissionable

 

No Blood or Urine Companies

Assurity Life- Non Med 350 product has a $ 70 commissionable policy fee

Fidelity Life- $85 policy fee is commissionable

 

Quote Banner Today using your Smartphone!

Install the NEW iPhone or iPad app today. This can also be used on Blackberry and Droid phones as well. Start quoting Banner or William Penn today using your smartphone. Click on the following link for instructions on how to install this new tool at BannerMobileQuote.

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