Systems & Tools
Our administration platform, where we can: Process all servicing transactions, Generate correspondence & Have a recorded history of the transactions.
LifePro
Form used for beneficiary change
CAP 9010 (1002)
Product option that has the base policy
Select Choice Plus 1
Upon surrender, contract owner will receive an amount equal to at least the premium paid less the sum of all previous partial withdrawals
ROP
the primary person selected to receive a payout from a life insurance policy or the assets from a trust.
Primary Beneficiary
Our workflow system, which is used to: Create work items to be routed to other areas for servicing, Incoming mail will also create this work and assigned to the appropriate users for processing & Run reports and see current volumes.
LDS
Change used for divorce, mispelling and marriage
Name Change
Product option that offers base plan with PFW only
Select Choice Plus 2
How long should an insured be confined in a qualified care facility to be eligible to Confinement waiver?
60 Consecutive Days
The person who decides the terms of the contract, including the date at which the income begins, how long it lasts, and who will be named as the beneficiary.
Annuity Owner/Policy Owner
Our document management system to Mail, either electronic or paper, will be ingested through OnBase, indexed to the appropriate policy then work items are created in LDS in order to route the documents to be reviewed and actioned.
Onbase
Tool used for address change
Lifepro
Maximum premium amount with company approval
$5,000,000
It will apply while a Withdrawal Charge Period is in effect and will not apply to the PFW amount.
MVA
Monthly income paid during the period certain elected, and during the Annuitant’s remaining lifetime.
Life Income with Period Certain
Our claims software, which is used for: Processing death claims, Claims notification & Document receipt (on active claims)
Benekiva
Form used for address change
ADR01 /CAP 9010
Plan that offers both Base Policy with ROP & PFW
Select Choice Plus 4
Minimum cash value percentage under NY Minimum Cash Surrender Value
93%
Payments made, for fixed number of years elected. This will be equal monthly, quarterly, semi-annually or annually. Payments include interested rate of 3% per year. Payments will not be made for less than 10 years
Fixed Period
System used in receiving inbound and performing outbound calls.
AWS- Amazon Connect
True or False- Annuity Owner can name 2 or more beneficiary
True
This allows the contract interest rate will never be less than the Nonforfeiture Rate, which is calculated once a year in January.
Lifetime Guaranteed Minimum Interest Rate
10% Free Waiver can only be applied to what product options?
Select Choice Plus 3 & 4
A fixed point of time in the future at which point certain processes will be evaluated or assumed to end.
Time Horizon/Planning Horizon