Payment in AWD
When a client is paying their loan off in full, how do you code the payment?
Inforce-Suspense
On the home screen of Payer Express, after we choose the company (AULILACH / PMLILACH / SLILACH) and enter in policy number, what do we click?
Click on Quick Pay
How often do clients receive dividends?
Can they change their dividend option? Form?
Dividends are given once per year on the anniversary. (Note: Mutual Companies pay back a dividend.)
Dividend options can be changed at anytime. A client can use the Service Request form or they can request over the phone.
Are we currently selling Universal life products?
All products are currently "service only" but we do have a new UL product coming out in the near future
After processing the payment in Payer Express what do we do next?
Go to AWD, complete an incall note and create a payment work item.
On the Quick Pay screen, you have to enter in the client's name and email address.
What email do you use if the client does not have an email address?
What is the purpose for entering the client's email address?
Use your OneAmerica Outlook email address instead.
The payment confirmation page will be emailed at the end of the payment.
What does "ABC (PAC)" mean and what administrative system will you see that in?
ABC (PAC) means the policy is on bank draft.
You will see this in ALIS.
A Universal Life policy is unique among permanent insurance policies in that it is considered an unbundled Policy?
True - It offers flexible premiums, flexible death benefits and flexible distributions.
What essential information should be included within the incall note and work item?
You should include the payment confirmation number, how to apply the payment (payment type & amount) and also upload the banking information and confirmation page within the work item.
If the client is making a combination of payments and the payments match the billing notice exactly, what type of payment is it and how do we record the information within Payer Express?
It is a Split Payment.
Use the notepad to record the type of payment and amount.
Example: P: _$_ for premium
L: _$_ for loan U: _$_ for PUA
These GSYS policies receive annual statements. What system will you find the annual statement within?
Unimaster / UNI / UNI2
You'll find the annual statement within CMOD.
True or False: Policy holders may withdrawal money from their Universal Life policy up to the net cash value at any time.
True
When uploading an attachment in AWD, what do we choose for the "source type?"
"payment"
After we enter in the banking information and we read the disclaimer statements, what is VERY important to do BEFORE clicking on the green "enter account" button?
Use the Snipping Tool to capture a screen shot. Then PRINT a Primo PDF file. Remember to close the image on Adobe Reader before proceeding.
This administrative system has it's own NameSearch where you can locate individual policies within that system only. Tell me the admin. system and elaborate.
Administrative System: GSYS
Use screen code ALQ1 to search by insured's first and last name or SSN.
What is the difference between front-end charges, back-end charges and overall maintenance charges in regards to a Universal Life policy?
Front end charges are assessed on premiums paid or when changes are made to the policy.
Back end charges are assessed when the policy is surrendered or terminated.
Maintenance charges, such as cost of insurance, are made on a monthly basis and are noted within the annual statement.
Create an incall note for this Payment:
$220.00 for Premium and $10 for the Rider
confirmation number 56421378
PO making payment of $230.00 / $220.00 to Premium and $10.00 for Rider / confirmation #56421378
What should you check on the "Verify Payment" screen BEFORE clicking on "Make Payment?"
Make sure the email is accurate. It may be an email from a previous call or previous epayment that was sent in to OneAmerica.
What is another name for "On Demand" and describe what you might use this system to locate.
On Demand is CMOD.
You will use On Demand to locate systematic letters and billing notices.
ie: annual statements, billing notices, GIO letters, term conversion letters, grace letters, lapse letters...
Name the death benefit options.
Level, Increasing and Return of Premium.
A client may change their DB option at any time.