JH Life Insurance

A

100

What is required to change ownership to a trust?

We require an ownership change form indicating the trust information. We suggest that a copy of the trust documents are submitted along with the ownership change form to verify the details of the trust.

200

State the Life cycle of Life Insurance.

Application, Underwriting, Issue, Delivery, Service, Death Claims

300

Trues or False
The AIF can take out loan over the phone. 

False 

400

All endowments mature at age 65

False

500

Provide the disclosure to client in order to have the funds sent via EFT.

• You authorize John Hancock to deposit the full transaction amount directly into the checking account you provided and certify that the account is in your name. This authorization will remain in effect until the proceeds have been posted to your account unless otherwise terminated by you or the financial institution where your account is affiliated. You certify that John Hancock will also not be liable for any losses or charges due to incorrect, outdated or incomplete information that has been provided by you. To confirm your verbal eSignature, please state your name and that you agree with these terms.

B

100

An agreement between the Policy Owner and the assignment company.

Collateral Assignment

200

What are the 2 types of Loan interest rates? 

Fixed and Variable

300

If the beneficiary got married and they called us to inquire about updating/changing their name, we send them a name change form.

False

400

State the guidelines for proper phone transfer etiquette. 

Refer to transfer guide

500

True or False

An Address change for a Beneficiary can be accepted over the phone (from an owner only) via Titles INQ work Item.

TRUE

C

100

What is the actual amount of money borrowed from the policy? 

Loan Principal

200

A charge that accrues on the loan principal. 

Loan Interest

300

How can I find the maximum amount a client can partially surrender/withdraw?

 Create a partial surrender/withdrawal quote case in Salesforce

400

Who handles 1st to die notification on a Survivorship Policy? 

Core Call Center 

500

_____ are determined monthly & annually, they will not exceed the higher of 5 ½% or the Published Monthly Average.  

Variable loan interest rates.

D

100

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. 

200

Can we change the address over the phone for Trust owned policy with multiple trustees?

No

Refer to address change flow chart

300

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

400

In CSWD, what does PIC mean?

Cash dividend paid by check to owner

500

What are the Requirements for Trustee Change? 

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

E

100

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.

200

What to do if the customer will ask: "Is my surrender request taxable?" 

Create a customer cost basis. 

300

What are the policies that earn dividends?  

Basically, they are whole life policies and your VLI accounts only. 

400

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:

500

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.