What are the acceptable titles we can take instead of "Agent's Assistant" to be able to clear security?
Reps asst, agents asst, assistant and BOA...which is also the Business Office Administrator....when they call, they usually say BOA. Instead of the full title....
FOR WEB SUPPORT WHERE TO DIRECT THE CALLER?
NYLannuities.com//client login// new user registration // walk them through the steps to get the OTP and mention to create a 10 characters username and password.
CAN YOU PROCESS BENE CHANGE IF ADDRESS IS MISSING THE ZIP CODE
YES, ONLY NAME AND % REQUIRED.
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FULL PROCESS TO CHANGE E-DELIVERY:
In case someone wants to have a hard copy of their contract and copy and their statements go to
POLICY MAINTENANCE>> JURISDICTION /// POLICY MAINTENANCE>> POLICY SETTINGS
Client Login >> SSN >> e-delivery
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STEP BY STEP FOR PPW
PPW can be processed over the phone:
Verify the following:
Ensure proper telephone security verification.
Verify caller has telephone authorization.
All request on joint owner policies must be submitted in writing and all owner's signatures are required.
Review notes for any warning and/ or security messages before processing.
Ask for the mode of payment (monthly, annual, semi-annual or quarterly)
Check payment option (ask if they want it to be net or gross)
Day of the month (if in mail it will take like 5-7 business days to process the ppw/ if EFT 2-3 business days)
First payment date.
Ask the client if they want to withhold federal tax and state tax.
Lastly ask how they want to receive the money, thru bank or check - NOTE: if they want it to send thru bank the processing time is 3-5 business days and for mail 5-7 business days.
Once saved check on the election of option if the PPW is scheduled.
HOW TO PROCESS XFER/1035 WITH AGENT OR AA ON THE LINE?
Clear Sec!!!
Cannot be done over the line. Must have submit the xfer/1035 ppwk including letter of acceptance.
Provide them actual balance, penalties and interests, contact info. and processing times.
WHERE TO FIND CHASE STANDARD ID?
MIDDLEWARE // REPORTS // CHASE ACTIVE
STEPS TO COMPLETE A PW IN A FIXED ANN.
P TRANSACTION // P MAINT. // D. TRANSACTIONS // PARTIAL W // W TYPE // W. AMOUNT // PREVIEW // DETAILS // TAX WH // DISBURSMENT METHOD // CONTINUE AND SAVE
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CALCULATE NEW COST BASIS AT DEATH CLAIMS:
Policy Transaction >> Immediate Transactions >> Change due to death >> Calculate
Policy review tab
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STEP BY STEP FOR SETTING UP AND SCHEDULED RMD
I do see you entered the last four digits of your social security number in the system for verification, I appreciate that.
Can you confirm the last 4 digits of your social security number please?
Election of Options >> ADD RMD
Remember:
Process for ownership change to a Trust?
SF> CREATE POC AND CLEAR SEC
KNOWLEDGE - Changing Ownership to Non-Living Entities:
Details
Changing Ownership to a TRUST
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HOW TO SEND DC KIT TO MAIL ADDRESS
CLEAR SEC!!
FORMS IN BLANC CAN BE SHARED
J-Drive >> CC NEW HIRE DOCS >> _USE FOR MAILINGS - Forms with Mailing Coversheet
EDIT AND LOCAL SAVE THE WORD DOC. AND SEND THE E/MAIL REQ TO LISA, CHRISTOPHER, HOLLY, AARON AND ATTACH THE WORD DOC.
NAME CHANGES STEP BY STEP
NOT ALLOWED
What are the issue ages for a Roth IRA Guaranteed Period Income Annuity?
59 1/2 to 89
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STEP BY STEP FOR CURRENT BALANCE
Hello, thank you for calling New York Life Annuity Service Center,
my name is ..., How may I help you today? / Can I have the policy number?
In this case it depends on the type of caller, but we can say the next script:
“For security purposes we need to do some questions here to access to your policy information, would that be fine with you?”
Once we have entered the policy number, we are going to be in the Policy Review, so we must move to:
Policy maintenance > Quote > Accumulation Value
In accumulation Value is going to be the information who refers to the Owner’s balance.
PARTIAL WD STEP BY STEP IN SF AND RPAY
SF> CREATE POC // RPAY> CLEAR SEC // P TRANSACTION // P MAINT. // D. TRANSACTIONS // PARTIAL W // W TYPE // W. AMOUNT // PREVIEW // DETAILS // TAX WH // DISBURSMENT METHOD // CONTINUE AND PROVIDE SUMMARY BEFORE CLICKING SAVE // NOTES //SF> COMMENTS // CLOSE
*INFORCE CASES> CLOSE ACTIONS AND GROSS AMOUNT
HOW MANY TIMES DO WE NEED TO CHANGE THE FONT AND SIZE ON THE TEMPLATES IN J DRIVE?
NONE
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HOW TO SEND A HARD COPY OF THE CONTRACT DOCUMENTATION STEP BY STEP
CLEAR SECCURITY
RPAY> REPORTS // POLICY PRINT REQUEST // REQ. TYPE >>
RPAY> REPORTS // BENE CONF. LETTER OR DUPLICATE ANNUAL STATEMENT
RPAY> P. TRANSACTION // P MAINTENANCE // QUOTE // ACC VALUE >> LETTER
Process for Annuitization a Settlement Accounts Quotes?
Annuitization quotes
1. Ask Caller when they would like to start the payments (Date)
2. Ask caller if they want to received payments for a period or for lifetime.
3. Depending on answer resolve: Elected Period or Lifetime options
Make sure Caller is aware that once we start with annuitization & periodic distributions there's no way to withdrawal any other amount & or surrender contract.
Ask for the best e-mail to get this info, they will receive in btw 3-7 business days.
On Sales force:
4. On your POC you must elect annuitization quote as request Reason & the number of quotes (max 4):
5. SF will create a side case for annuitization (if you go to my cases the side case should be there) on that specific case you should upload the excel document you create & then change Case Owner to Inforce Processing.
STEP BY STEP FOR ONE TIME RMD
I do see you entered the last four digits of your social security number in the system for verification, I appreciate that.
Can you confirm the last 4 digits of your social security number please?
Transaction>>Deferred Transactions>>Partial Withdrawal>>
After you enter all the information, review all the withdrawal information with the client, including any surrender charges or MVA’s. Once confirmed then you can process the request.
Remember:
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FULL NOD PROCEDURE STEP BY STEP
SF> CREATE POC ***CONDOLENSES
RPAY> CLEAR SEC - NOD CAN BE TAKEN FROM ANYONE
P TRANSACTION // NOD // ELECC THE PARTY // NOD DATE // DOD // COD ISSUING STATE // NOTIFICATION METHOD // CONTACT INFO
FIXED ANNS = CASH VALUE OF DATE OF DEATH
INCOME ANNS = P TRANSACTIONS // IMMEDIATE TRANSACTIONS // CHANGE DUE TO DEATH - CONMUTED VALUE PLUS OR MINUS OTHER AMOUNTS
SEND DC KIT AND OFFER ASSSITANCE
PROVIDE FAX AND MAILING ADDRESS
EXPLAIN PROCESSING TIMES
Type of annuity and requirements for Spousal continuance?
Clear Income.
-Spouse
-Should be listed as primary bene
TODAY IS 03/30 AND A PO CI TO CHECK IF HIS PPW PPWK HAS BEEN PROCESSED. IT WAS INDEXED ON SF 03/28 AND IS RERQUESTING A QUARTERLY PAYOUT. HOW WOULD YOU MANAGE IT?
SF> OPEN POC CLEAR SEC / SEARCH FOR P# TO SEE IF THERE IS THE PPWK, CUSTOME CLONE IT AS PW
RPAY> PROCESS PW FOR 1ST PAYMENT / SET PPW FOR 2ND PAYMENT AND ONWARDS
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STEPS TO PROCESS IN RPAY XFER/1035
WOULD CLIENTS GET 1099 FORM?
. Same as Partial W/D or a Full Surrender
b. Disbursement Type: 1035 Exchange
c. Replacement: External
d. Client will receive 1099-R
e. Add Special Payee
f. Then add address.
g. Add Acct# and Check Work and SAVE!
h. Check Policy History!
**NOT A TAXABLE EVENT, BUT WILL RECEIVE A 1099-R WITH THE ALREADY TAXED PORTION**
STEP BY STEP FOR SURRENDER
You mentioned you want to surrender your policy correct?
YES=Go to Surrender Value tab on rPay, provide Surrender Details like:
policy type
Total Accumulation Value
Surrender Charge Amount – Is it out of surrender?
NO – Advise that there will be a surrender charge (IN surrender details) on rPAY
YES – No charges at all.
go to Terminations on rPay, provide information, ask how they want the payment to be received:
EFT? – ckeck if there is bank info on rPay, (NEVER provide this directly to caller) if not, get it.
It will be sent next day & for the payment to reach the bank is up to (24-48 business hours) 3 business days
Mail check? – Confirm address first, processing time is 7-10 business days or around 7 business days.
TAX Withholding? – They can decide NO withholding.
On details, we can confirm the information provided on Withholding/Charges section as of Federal & State as well as EFT info & mail checking address. Also if client decides to transfer the funds to an external IRA.