A
What is Life Insurance?
It’s a contract between a customer and the company. The customer agrees to make payments to John Hancock, and we agree to pay out a sum of money upon his death.
True or False
The cash values of Variable Universal Life Insurance are invested in the stock market, wherein the customer will experience earnings and losses depending on the performance of his sub-accounts.
True
What is the actual amount of money borrowed from the policy?
Loan Principal
Yes or No
When updating the address, will a confirmation letter go out?
No.
Address Confirmation letters do not go out. Ops will only be sending the post cards.
- If the customer is requesting a confirmation letter submit a corro case (documentation request with case comments) for them to create the letter.
Complete the statement: If the caller is requesting to withdraw D Dividends or Paid Up Additions you need to ask the caller ____________________________
"If there is a taxable event with this withdrawal would you like federal taxes withheld?" and add a case comment indicating whether or not they want taxes withheld.
Application, Underwriting, Issue, Delivery, Service, Death Claims
What are the 2 types of Loan interest rates?
Fixed and Variable
A charge that accrues on the loan principal.
Loan Interest
Can we change the address over the phone for Trust owned policy with multiple trustees?
No
Refer to address change flow chart
What to do if the customer will ask: "Is my surrender request taxable?"
Create a customer cost basis.
Trues or False
The AIF can take out loan over the phone.
False
If the beneficiary got married and they called us to inquire about updating/changing their name, we send them a name change form.
False
How can I find the maximum amount a client can partially surrender/withdraw?
Create a partial surrender/withdrawal quote case in Salesforce
Who can change a policy address over the phone?
• Owner
• Agent of record/agent’s office (if they pass security)
• Trust owned policy with only one trustee
What are the policies that earn dividends?
Basically, they are whole life policies and your VLI accounts only.
All endowments mature at age 65
False
State the guidelines for proper phone transfer etiquette.
Refer to transfer guide
Who handles 1st to die notification on a Survivorship Policy?
Core Call Center
In CSWD, what does PIC mean?
Cash dividend paid by check to owner
What factors affects the apportionment of the dividends?
Mortality Rate: Did we pay out more or less claims than we anticipated?
Rate of Return on Investments:
Administrative Expenses:
What would you say to your customer if they requested to be transferred to someone in the US?
CSR’s Spiel
"I understand that you'd like to speak with a US representative, but I'd be happy to help you out right now rather than making you wait on hold. Like our colleague onshore, I went through the same training, and we also have the same tools and access."
“I sincerely appreciate your request to be transferred to the US line, but I want to save your time waiting on the line. Kindly allow me to assist you further. I've been trained similarly to our onshore counterpart, and I'd be glad to help you resolve your concern regarding this (issue)”
"I understand your request to speak to a US based rep, however, I am more than happy and willing to help you with your concern/request since we are of the same caliber to our US counterparts"
" I want to you save your time waiting on the line to speak to a US rep, I can definitely assist you with your request/concern today"
What to do if a caller state they wsih to op-out from having their information shared within JH affiliated companies?
Fill-out the Online Privacy Form
Where to transfer calls for policy that have ORD Code 550 or Majestic int he plane name?
M Group
rustee Change
Requirements
1. Copy of death certificate of
Trustee, or Resignation of
Trustee document, or
Removal of Trustee document
2. Appointment of
Trustee document
3. Acceptance of
Trustee document
Name the facts about Dividends
1. Return of Premium
2. A way for customers to share in JH's overall profit for the year.
3. Not guaranteed
4. Already taxed, so not taxable.
5.In January, Board of Directors determines if we’ll give dividends for the year.