MFA Rules
No OOW or HV needed when this code is used
What is MFA Code 1?
Required identifier: last 4 of this
What is SSN
Assistants don’t need to explicitly say this word
What is “assistant”?
This caller must verify full Tax ID
→ Who is a Trustee?
This caller type has no chance to provide EFT info, nor to do Bene changes
What is ATP?
If MFA code is not 1, you must proceed with this
What is normal security procedures?
To set up this security measure the PO or POA needs to be fully verified and the only way to delete it is by LOI submission.
What is a Password?
***Add NAU***
This type of caller can get full policy info but cannot perform transactions even with telephone authorization
→ Who is a Chase Advisor?
This caller only gets their portion of proceeds
→ Who is a Beneficiary?
Chase advisors cannot verify this
→ What is branch address?
Two things verified for MFA‑passed policy owner
What are name and full address?
This can be approximate and still acceptable
→ What is initial premium amount?
Advisors must be active in this system
→ What is Middleware?
This caller loses authority upon owner’s death
→ Who is POA/Guardian?
Back office requirements for clearing sec:
BO code and 1:
OR Request current or original writing Advisor’s Name and ONE of the below:
Last 4 digits of the Advisor’s SSN
Advisor Code
Advisor’s Branch Address (including zip code)
National Producer Number (NPN)
Even with MFA passed, this still should not be shared
What is PN and listed benes?
Failure of all OOW questions results in this
What is do not proceed with High Verification, cannot provide any policy specifics, details nor process transactions?
hese roles can do transactions with phone auth
→ Who are advisors and their assistants?
Payee must complete this before updating EFT
→ What is High Verification?
These firms don’t allow telephone authorization
→ What is Chase or Citigroup?
Even with MFA passed, this still CANNOT be shared
What is SSN or banking info?
This caller type has no policy rights unless they are set up through a Telephone Authorization, in which case they follow a completely different caller protocol. They always say it is THEIR Policy,
Who is an Annuitant (or Successor Owner)?
These identifiers can be used for verification (name 5)
TWO of the following additional pieces of information:
Last 4 digits of the Advisor’s SSN
Branch office address (including zip code)
Advisor code
Date of birth
Home address (including zip code – Middleware)
National Producer Number (NPN)
It is required when adding ATP for the duration of the claim
→ What is Authorize 3rd Party to receive info up to life of their claim. Add NAU with ATP info: Name, Phone & relationship to bene required.
Only this group can access external house accounts
→ Who is back office personnel only?