The Legal & General America Companies
Transcript of The Legal & General America Companies
The Legal & General America Companies
Non-New York Business New York Business
Banner Life Financial Strength Ratings
AM Best
Standard & Poor’s
Teleunderwriting at Banner
AppAssist®
A teleunderwriting program designed to:
Shift the administrative burden of filling out an application for life insurance from the financial institution/broker to the insurance carrier
Transfer the case management of processing the application from the financial institution/broker to the insurance carrier
AppAssist®
For term insurance plans only10 year15 year20 year30 year
AppAssist®
Issue Age≤ 50 years51 - 65 years66 - 74 years
Coverage AmountUp to $3 millionUp to $1.5 millionUp to $500,000
Face amount limits:
AppAssist®
Step 1: Submit Agent Contract Appointment to Banner
AppAssistSignatureAuthorization
AppAssist®
Step 2: Agent Completes Request for Life Insurance Interview (RLI)
Request for LifeInsuranceInterviewQuestions on paper form can be answered online using e-Link
https://www.lgaappassist.com/rlilogin.htm
Request for LifeInsuranceInterview
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Submitting Your Life Submitting Your Life Insurance Request Insurance Request
OnlineOnline
Web Site Address:
https://www.lgaappassist.com/rlilogin.htm
Login to your account
Choose “Request for Life Insurance Interview”
Answer Questions
Get Quotes & Risk Class
Submit and You’re Done!
Check the Archives...
AppAssist®
Step 3: Submit Request for Life Insurance Interview (RLI) to Banner Life
Electronic Format:
Paper Format:
AppAssist®
Step 4:Call Center Conducts Interview to Complete Application
AppAssist®
Step 5: Client Uses Voice Signature Option to Approve Application
AppAssist®
Step 6:Client Sent Application Package via Email for Records
Application Instructions
Application Instructions
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Application Instructions
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AppAssist®
Step 7:Call Center Orders Paramedic Exam
AppAssist®
Home office follows up on applicant packet after 5 business days
Home office calls client once a weekwith a maximum of 4 attempts
AppAssist®
Step 8:Call Center Handles Case Management
Banner Life Orders All
APSs
MVRs
Inspection reports
Follows-up with applicant for any outstanding information
AppAssist®
Electronic Status Updates are Available Throughout the Entire Process:
www.LGAmerica.comSkywire Software (formerly IIT)E-Z Data Inc.AgencyWorks
Producer Tracks Status of Case Via Website
AppAssist®
Step 9:Banner Makes Underwriting Decision
AppAssist®
Step 10:Policy Contract Sent Direct to Client or Agency
AppAssist®
If a case is issued as applied for, or a more favorable underwriting class was received, the policy is sent directly to the applicant
If a case is issued other than as applied for, the policy is sent to the general agent
AppAssist®
Step 11:Delivery Requirements Received and Policy Activated
AppAssist®
To activate your contract:
Sign all forms where indicated
Remit premium
Banner Life activates policy upon receipt
AppAssist®
Step 12:Agent Receives Commission
AppAssist®
Questions?This presentation is not for publication. Policy descriptions provided here are not a statement of contract and are not for public distribution. All forms shown are available on the Banner website in the AppAssist forms section.
AppAssist is a process used to expedite the sale of term life insurance. OPTerm policy form #RT-97. Not available in all states.
OPTerm 10 issue ages 20-80 and 20-70 in the state of Washington. OPTerm 15 issue ages 20-70 and 20-65 in the state of Washington. OPTerm 20 issue ages 20-65, 20-62 in Oregon and 20-60 in the state of Washington. OPTerm 30 issue ages 20-50, 20-45 in Oregon and 20-45 in the state of Washington for Standard tobacco class only. Premium rates vary by coverage amount: $100,000-$249,999, $250,000-$999,999 or $1 million and above. Premiums quoted include $50 annual policy fee. Premiums are guaranteed to stay level for 10,15,20 or 30 years, respectively, and increase annually after initial guaranteed period. OPTerm policies can be issued in preferred plus non-tobacco, preferred non-tobacco, standard plus non-tobacco, standard non-tobacco and standard tobacco classes. OPTerm 10,15, 20 and 30 substandard policies can be issued through Table 12, subject to underwriting discretion. Coverage can be renewed to age 95. Policies can be returned without obligation within 20 days of receipt in most states. Two-year contestability and suicide provisions apply. Underwritten and issued by Banner Life Insurance Company, Rockville, MD. 07-078