Premiums
This premium can be located on the 21/2 screen without COI.
What is Term or Whole Life?
Found on the far ride side of Salesforce.
What is the available loan amount?
21-7
What is see current death benefit option in Lifesys?
Provides term coverage for all of the insured’s children, including natural children, stepchildren, legally adopted children, and children over which the insured has legal guardianship (guardianship paperwork must be submitted) up to the age of 25.
Term Life Product offering 10, 15, 20, 25, and 30 year term periods renewable to age 95. Home Certain offered unisex premium rates (excluding the Critical Illness Rider’s rates‐these were higher for females).
What is Home Certain Level?
Locate the Total Modal Premium in Salesforce.
What is the Payment Details Screen?
Loan under the Cash Value section on Salesforce.
What is the current loan balance?
Current Death Benefit Option in Salesforce
What is the payment details screen>information section?
This rider is automatically added at no cost (Home Certain) for the primary insured only, and waives the policy premiums if the insured becomes unemployed for at least 30 days up to a total of 6 months. Once benefits have been paid under this rider (whether it be for 1 month or for all 6 months), the insured is ineligible for any additional unemployment benefits for the next 5 years. The insured must become unemployed before the age of 65 to receive benefits.
What is an Unemployment rider?
A level term life Product offering 15‐, 20‐, 25‐, 30‐year term to the retirement age range of 65‐70. The unique feature of Income Certain is that provides the client with three guarantees: Guaranteed death benefit, level premiums for the life of the contract and an income stream.
What is Income Certain?
This is comprised of Cost of Insurance plus C Flags.
What is the Minimum No Laspe Premium.
ADMIN5590
What is the loan disbursement form?
When this happens, the face will decrease by the current available cash value to keep the death benefit at the current rate and it will increase going forward.
What is going from level to increasing(Changing from Option 1 (A) to Option 2 (B))?
If the insured becomes totally disabled, the premiums will be waived for the entire time they are disabled.
What is Waiver of Premium (WOP)?
05RTG
What is Term Trends?
Expired C Flags.
What is should not be included in the Minium No Lasp Premium.
Processing time for a loan request.
What is 7 business days?
The face amount will increase to equal the current death benefit but this does not require underwriting as it is going to a level amount.
What is Going from Increasing to Level(Changing from Option 2 (B) to Option 1 (A)?
Allows for a lump sum up to 100% of the death benefit (with a maximum of $250,000), to be paid to the insured if they are diagnosed with a critical illness (MT and SD are only allowed 50% of the face amount with a maximum of $250,000).
What is Critical Illness (CIR)?
20SSX
What is Saver Select?
Record 3 of 3.
What is a rider that should be include when quoting a premium?
$25.00
What is the minimum loan payment?
What is the picklist?
There is a cost for the coverage and it provides a way for the insured to receive back all of the premiums paid into the policy at the end of the term period, less any benefits the insured has already received.
What is Return of Premium (ROP)?
30PSL
What is Patriot Select?