TPA
What does TPA stand for?
Third-Party Authorization
Name one way to confirm VOC
VOC Call (calling the carrier) or Written Request.
What is the first step in the onboarding process? ( No restrictions)
Complete the TPA and have it signed.
What key detail must you check before ordering a script pull?
Ensure the insured does not have a recorded date of death.
What does LMA stand for?
Longevity Market Assets.
What is the difference between a Specific TPA and a Generic TPA?
Specific TPA is a carrier-provided form required by certain carriers; Generic TPA is used when no carrier-specific form exists.
How is Cash Value computed?
Account Value minus surrender charges and outstanding obligations
What should you do if the carrier does not accept multiple representatives in a TPA?
Verify carrier requirements and adjust accordingly.
What insured information is required to order a script pull?
Full name, SSN, date of birth, full address, and policy amount.
What additional page should be included with the illustration?
A supplemental page providing a breakdown of policy charges.
What is the validity period of a TPA for American General?
Six months from the date of approval/issuance.
What is the Current Cost of Insurance (COI)?
The ongoing monthly or periodic insurance charge for providing coverage.
What type of illustration should be ordered during onboarding?
An illustration solving for minimum level premiums to maturity, with a breakdown of policy charges if possible.
What format should be used when saving the script pull file?
Last Name, First Name, last 4 digits of Policy Number – Rx Check dtd xxxx-xxxx.
What follow-up action is noted in the task record after sending a written request for illustration?
Call the carrier after 2 business days to check if they received it.
Which carrier requires wet signature plus notarization for TPAs?
Symetra
What is the Written Request process for VOC?
Send written request with corporate resolution, follow up after 2 days and every 5 days, attach correspondence, email to servicing agent, and close the task after completion.
What is the follow-up process after ordering an illustration?
Make a task to track the status, follow up every 5 business days until received, and notify the servicing agent once received.
What follow-up action should be taken if the script pull PDF is not immediately available?
Refresh the page or wait a few minutes until the PDF is available for download.
What should be done once the illustration is received?
Attach the illustration in the task and notify the servicing agent.
For Brighthouse/MetLife, what special conditions apply to TPAs and requests?
They don’t maintain TPAs on file; they accept written requests only, and each request must include both the signed TPA and current representative list.
What immediate attention items must be checked during VOC calls?
Grace period (temporary extension after missed payment) and lapsing policy (insufficient value or missed premiums).
What is the purpose of ordering an illustration during onboarding?
To determine minimum level premiums to maturity and understand policy charges.
What additional step is required when ordering an illustration or underwriting task after script pull?
Attach the script pull PDF and notify the servicing agent.
What is the importance of requesting a breakdown of policy charges in the illustration?
It provides transparency on fees and helps evaluate policy sustainability.