People in New Business
What is the very first step if a client wants to purchase a life insurance policy?
Meet with an advisor
A blood profile is always accompanied with a ________.
Urinalysis
Under the Update Requirements applet, What would you select under Requirements for: in order to view the admin requriements?
Policy number
Name the 2 types of transactions that can be completed on a group life plan.
Group Conversion
Group Alternate
The initial payment must be received within ______ days.
15 days from the application date
What is the difference between Issue and Complex Issue?
Issue handles the admin work for New Business applications.
Complex Issue handles the admin work for replacement, conversion and exercising an option.
It is a report completed by the insured’s physician.
This report has a log of all previous medical consults, results from exams, diagnoses, etc.
Attending Physicians Statement
It acts as a binding document and provides Sun Life with the permission to go ahead and proceed with the application that was submitted.
Signature Page
Name the 4 Main Transaction types.
•New Business
•Conversion
•Internal Replacement
•Exercising of an option
What service request should be check if the inquiry is regarding the refund cheque due to the decline of a policy?
Declined/Closed service request
Name 4 different types of underwriters
•Critical Illness underwriters
•Life Insurance underwriters
•Long term care underwriters
•Wholesale underwriters
It is a questionnaire that collects medical information about the insured person.
This information is collected by the advisor on the application.
Non-medical
It is a regulatory requirement in Quebec only for advisors to complete when submitting an insurance application including health insurance (disability, critical illness, long term care and personal health).
Financial Needs analysis
Name a scenario when plan change is involved in New business
Conversion
Replacement
Exercising an Option
Smoking status change
Reinstatement
What is the form required in order for the underwriter to provide an explanation on the underwriting decision?
E273
If a _________ is assigned to the policy, we are not to process any transactions on our end, we will either manage the appropriate WP or transfer to the ________.
Large Case Manager
What is the program Inside Look?
It is a program by Exam One which allows clients to view their results online.
This document showcases the changes from the original contract to the new contract, and must be validated with the owner of the policy.
Comparison Disclosure Form
What is the difference between a Master WP and the Underwriting Sub
Master WP - contains admin documents and can be managed. this is managed by issue or complex.
Underwriting sub - contains the underwriting documents. is managed by the underwriter. we do not manage this workpackage unless the job aid specifies.
What workpackage should we be looking for before we can set up PAC?
PAC not set up investigate
Give a scenario when an underwriter does not need to assess the insured's risk.
When a conversion application with no change is received
When exercising an option with no changes ( like CTP or GIO )
When the application is automatically approved ( That will sometimes happen if the application meets certain criteria )
What is the the difference between a paramedical, and tele-interview?
paramedical - a medical questionnaire done with a health practitioner or nurse of a paramedical company.
tele-interview - a phone interview that asks medical questions to the insured and is done by a tele-interview representative.
Give an example where a comparison disclosure statement form is required.
view the kdoc under the Disclosure replacement SR.
What does it mean if a policy is on the UL Underfunded List?
The policy is eligible to be replaced to a SunSpectrum Permanent Life II with no evidence.
What is copoloff?
If the application is declined, the client may be able to see if they eligible for insurance coverage with other insurers.