Term Product Knowledge
The three term plan types
10 yrtc, 20 yrtc, 30/65
Two pieces of security information we ask advisors to provide
Advisor Code, Advisor Name
The option that enables a client to trade their 10 year term policy for a 20 year term policy in between the 1st and 5th policy anniversary
Exchange Option
If a client has a term policy for $500,000.00 and they want to convert $200,000. They can carry over this maximum amount to the new plan.
$200,000
The signing status and passwords of an E-Delivery that has been sent out via email can be checked in here
eDelivery Report
An option which provides the convenience of providing term life insurance protection for all insured's children under one plan
Children's Protection Rider (CPR)
Three pieces of security information we ask policy owners to provide
Owner Name, Insured DOB and Owner Address
There are two requirement options that clients can choose from in order to request a decrease or a deletion
Application for Change or Letter of Direction
These are the two requirements that must be submitted for a term conversion to be processed
App for Term Conversion 1616 and Signed Sales Illustration
Any of these people/roles can see the eDelivery package online
Client, Advisor and MGA
A client who is a non-smoker and meets our highest health metrics standards and is applying for a qualifying face amount
Preferred Plus Non-Smoker
These individuals have the authority to make decisions on behalf of a business
Signing Officers
There is a common misconception by clients and advisors that this form is a cancellation form, but it is not.
Life Insurance Replacement Declaration (LIRD)
A policy is starting with $1,000,000 term insurance. The policy owner only wants to convert $100,000. To find the new price for the remaining $900,000, _______ needs to happen.
Inforce Illustration request from life admin
The email address that the Advisor, Client and MGA would receive the eDelivery from, if sent via email.
signers@esignlive.ca
An option to elect single life policies without underwriting BUT only if there is a material change in relationship
Option to Elect Individual Policies
A type of caller that is entitled to ask questions about a policy but has no authority to make any changes
Third Party Authorized Persons (TPA)
The following can be added to a G3 policy but not a G2
Term Rider
Two single life term polices can be converted into one joint policy. Correct or incorrect.
Correct
The Advisor and MGA can find the eDelivery package on this website
EquiNet
Six optional riders that can be added to term policies
Premium waiver, Accidental death benefit, Children’s protection Rider, Guaranteed Insurability option, Equiliving CI Rider, Term rider
National accounts do not use the term “MGA”. The term they would use instead.
Estate Planning Specialist (EPS)
A client may APPLY for nonsmoker rates. They have to fill out the full application including all the medical information. There are two possible decisions the underwriter can make based on the information.
Approve or Decline
If there is a CPR rider on a term policy, it be carried over to the new policy at the time of conversion. Correct or incorrect.
Correct
The client can find the eDelivery package on this website
Client Access