Quote Note Tool Usage
Show the group where products with UW GLs appear on the QNT based on what you enter in the SIC code box. (A good example is SIC 8322).
Share your screen showing "UW guidelines" box on the QNT.
What is "increased" any occ income loss?
1-Benefit %
What is the standard when Elected Officials are on our census?
Remove them!
Explain what Bonus Up is.
A bonus-up situation occurs when the employer adds money to the employees’ paychecks to cover the cost of the employees’ benefit. The employer then mandates that the employees must take the benefits and that the employees must pay for the benefits.
Describe the difference between Gross and Net when it comes to Survivor Benefit.
Gross = Before tax amount
Net = Post-tax amount
What is the highest maximum benefit we could quote for LTD based only off the top 3 salaries test with salaries $163,000, $195,000 and $225,000 and 66 2/3%?
$11,000
Group currently has a 9k max on LTD but does not qualify per the top 3 salaries test. What max can we quote?
We can quote the 9k!
For SIC 8111, if attorneys and partners are BOTH on the census, who gets classed out?
Class out ONLY Partners.
What value plan provisions are required when quoting VLTD under 25 lives?
Mandatory rehab, Rehab incentive, any occ income loss as 1-Benefit %, 40 hour Work Week, and National Econ.
If you see Gainful Occupation wording but do not know the any occ income loss percentage, should you should select Gainful Occupation?
Yes!
Show the group how to calculate occ codes 6-8 content using the QNT.
Share your screen showing the ccc codes 6-8 box.
If current pre-ex on LTD is 6/12/24 but your group is less than 25 eligible lives, what will you quote for pre-ex?
You will quote 6/12/24. This is more restrictive and therefore is allowed over the required 12/12!
When quoting STD for SIC 8661, should you check or uncheck Salary Continuance?
Check!
When are Composite rates available on LTD?
25+ lives, with 50% or greater participation on VLTD
If classes are present for LTD, do you go by the whole group for top 3 salaries or just the eligible members? How about for occ codes 6-8?
Top 3 salaries is the whole group and occ codes 6-8 is the eligible members (class).
What should you do if your non-contributory LTD only has 25% participation?
Quote as Voluntary; Use current elections on census and update participation on benefits page to actual + 50% (not to exceed 50%).
If you uncheck the salary continuance box, what does this actually do to the plan? How might unchecking this box affect an individual's income on Disability?
Unchecking the box would mean our policy does not reduce by sick days and personal time off, etc. A claimant could actually earn more income while on disability in this scenario, leading to a decrease in motivation to return to work.
You're quoting for a group with SIC 8322. What is an important consideration for time in business of the group?
Group must be in business for 5 years of greater.
How do you handle SIC 8011 groups with Physician content when quoting a VLTD request?
Class out Physicians, but they are unable to receive Bonus Up. They will still receive VLTD. Vol DI and Special Risk UW GLs will be followed.
Walk the group through the guidelines for quoting standalone STD.
For rehab incentive, work incentive, and reasonable accom, these are available if not specifically excluded by UW GLs. If no information is provided for these benefits within the RFP, continue to utilize your benefit map defaults.
Quickly walk the group through your process when entering a restricted industry on the QNT. When you see that STD/LTD have underwriting guidelines based on the QNT, what do you do first?
Open up UW GLs that are applicable.
What is a treatment free period?
This relates to pre-ex! It is the length of time an EE must be treatment-free after the effective date to be eligible for benefits for a disability that results from a pre-existing condition.
On SIC 1542 with occ codes 6-8 <50%, should you apply the "Additional Plan Design Requirements" listed underneath?
No; quote within standard UW GLs.
FREE SPACE
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Explain income loss during the own occ and any occ periods. What is the required income loss % during the own occ period? What are the options during the any occ period?
80% income loss requirement is always the case during the own occ, meaning EE experiences 20% loss of earnings at least.
During the any occ period, options are either 80% or 1-Benefit %. If benefit % is 60%, then this means the EE needs to show a loss of 40% of income.