Product Training
Replacements
Take a Chance
What Next?
99

Upon completion of product training and receipt of the CPAA form, these are the steps in LP. 

What is update the LP sign date, update LP received date and add detailed LP notes. 

99

These states are exempt from replacement requirements. 

What are:

1. Michigan

2. North Dakota

3.Washington D.C.

99

Transfer forms are sent out via 2-day UPS to the transferring company.  A follow-up call should be scheduled and made on this date. 

What is 10 business days. 

99

Funds have been received for a 1035 internal transfer and you have issued. These 2 steps must now be performed.  

What is:

Add the Cost Basis and close the PEGA transfer log.


200

Despite product training being confirmed in iCapital, an LP error persists.




What is log an IT ticket?

200
These two states have two separate replacement forms that are required to be submitted for all replacements. 

What are: 

1. Illinois 

2. Oklahoma 

200

When we say "Point of Sale" document, this is what we mean. 

What is: 

Any form that must be dated by the client on or before the client’s signed date on the application.

200

Owner has a NY mailing address, and you are printing a policy packet.  The policy packet will not print unless you put this letter in the LP disclosure field. 

What is the capital letter "P"? 

300

These 4 areas should be used to check agent product training. 

What is 

1). Producer Management

2). Vue

3). Limra

4). iCapital/Simon


300
In FL, this form should be sent with the immediate replacement letter. 

What is the Replacement Form? 

300

You are expecting $250k from 2 transfers. 1 set of funds is received in the amount of $100k.  These 2 steps should now be updated in LP. 

What are: 

1. Add LP notes 

2. Update the expected premium field. 

300

For FIA's, these are the dates that funds are moved into the S&P. 

What are the 6th and the 20th of each month? 

400

Agent product training is not found in any of our systems, and we have a contracting error. Regarding product training, our LP note should read like this.  

What is The agent has not completed state required NAIC Product Specific training for (product).  After the training has been completed: Complete and sign the Contract Acknowledge and Purchase Agreement Form. The completed form must be signed by all parties and faxed back to 1-888-788-1693 reference the policy number. 

400

For a replacement in CA, this needs to be sent along with the transfer packet, LOA and replacement form. 

What is a Contract Summary. 

400
Check was received 2 days ago and policy is pending issuance. A free look letter is received in good order requesting that funds be returned immediately.  These two things must be relayed to the agent. 

What is: 

1. Send conservation

2. Advise of mandatory 10-day check hold

400

For a NQ policy, this procedure separates the original purchase payment amount from the interest. 

What is Cost Basis? 

500

We have CWA and agent has not completed product training.  The processor should take these initial steps. 

What is: 

  • 1. Call and notify the agent of the rejection & give the date funds will be returned. (10 business days). 
  • 2. Send a manual email to the agent with the same information as above
500

You have reissued a 1035 exchange. This would now need to be re-added in LP. 

What is Cost Basis. 

500

You have received a corrected page 2 of the Inherited ESP form and are ready to send back to legal for review. This MUST be done first.

What is make a good Inherited ESP form. 

500

Agent calls in stating transferring company made an error in the amount sent to us and is requesting that funds be sent back. This letter will be required in order to process their request. 

What is a letter of indemnity?

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