Transamerica 2021 Year-End Deadlines

Below please find important deadlines regarding year-end commission and payout dates for Transamerica.

  • December 20th: All premium and final delivery requirements must be received in good order on or before this date to ensure placement prior to year-end.
  • December 21st and after: New business and delivery requirements will continue to be processed, but are not guaranteed to be in force prior to year-end.
  • December 24th: Last commission cycle for the year. All business to count for 2021 production year will need to be placed by this date.
  • December 24th: Closed for the holiday

Please contact your sales support team for any questions you may have.

AdminUpdate: North American’s Online Part B Now Available for California Cases

FROM NORTH AMERICAN…

Introducing Online Part 2 & Tele-Interview in California

North American is excited to introduce an enhancement to the WriteAway® accelerated underwriting program in California. Beginning November 6, 2021, electronic applications in California will utilize the Online Part 2 to obtain your client’s personal and medical history. This new tool gives your clients the ability to complete the Part 2 medical questionnaire confidentially on an advanced platform, with the convenience of being able to complete the process independently, even from the privacy of their own home. We will also be offering a tele-interview option for your clients that are unable to complete the part 2 online due to a technical limitation, disability, or if they do not speak English.

Find out more about these changes from North American…

AdminUpdate: Enhancements Coming to Foresters Policy Delivery Process

FROM FORESTERS FINANCIAL…

Faster Pay, Happier Clients

At Foresters™, we are committed to make it easier to sell our products.

Effective October 28, 2021, All Delivery Requirements will be secure emailed to you to avoid any delays with mail delivery.

This fast and secure method will help protect your client’s personal information and also may allow for faster placement of your business.

Find out more about these changes from Foresters Financial…

AdminUpdate: Securian Launches Online Part 2 for eApp Process

FROM SECURIAN FINANCIAL…

eApp upgrade going live October 30

In case you missed it, Securian Financial will be upgrading our life insurance eApp at the end of the month to offer client collaboration. Starting on October 30, 2021, eApp will have the option for clients to complete parts of the eApp, including their underwriting questionnaire (part 2), allowing them to answer medical questions without having to go through a tele-interview.

Additional Details

  • The Client Collaboration is only available on full eApplications. Keep in mind these instances where a phone interview will still be required:
  • SecureCare Cases
  • Applications taken in New York or for New York products
  • Drop Ticket
  • If the proposed insured and owner are different

Find out more about these changes from Securian Financial…

Washington Cares Fund Deadline Approaching

As the deadline for policy placement in order to qualify for a possible opt out of the Washington Cares Fund approaches, the AIN Core Carriers with significant business volumes continue to work diligently to approve and issue as many policies as possible. That said, there is likely to be a “crush” at some carriers as the end of next week approaches and all involved seek to place as many policies in force as possible. Read on for the details!


Given that the Washington Cares Act lacks specificity regarding the definition of having Long-Term Care coverage in place by October 31, 2021, to qualify for the opt out, each carrier has been left to interpret the legislation and apply policy and procedure based on that interpretation. This has resulted in varying protocols in place across the carrier landscape. Where available, AIN has assembled those protocols on AIN Essentials for ready reference. Links to these communications, where available, can be found below.

Carrier Policy on Backdating Washington Business

One area that is of particular interest and subject to varying interpretations is the ability to “backdate” policies to an effective date prior to the deadline even if they are not issued/in force on the actual day in question. While the carriers in question make no representations regarding Washington’s acceptance of such an approach, some will allow backdating for cases that can’t be approved, issued and placed in force prior to the deadline. What follows is a summary of carrier position on this single issue.

  • Equitable:
    • Life products with an LTC Rider: Equitable has yet to declare their position on backdating these cases.
  • Global Atlantic:
    • ForeCare: Backdating not available
  • John Hancock:
    • Life products with an LTC Rider: Per normal backdating rules
  • Lincoln Financial:
    • MoneyGuard: Backdating not available
    • Life products with an LTC Rider: Backdating not available
  • Mutual of Omaha:
    • Traditional LTC: Backdating not available
    • Life products with an LTC Rider: Backdating not available
  • Nationwide:
    • If your application has outstanding requirements, they must be submitted immediately for the application to have a chance of being placed in force prior to November 1, 2021. See below for details on the Life Pending Tracker and information regarding outstanding requirements.
    • While some applications will not be completed prior to November 1, 2021, we will continue to work on them after that date.
    • For currently pending policies issued on or after November 1, 2021, Nationwide will issue the policy with an effective date of October 28, 2021, while the proceeds will be applied on the issue date (or the date received if proceeds are received after the issue date).
    • NOTE: Nationwide cannot provide guidance as to whether policies with an effective date prior to November 1, 2021, but not issued prior to November 1, 2021, will satisfy the requirements of the WA Cares Fund. Please consult your tax professional.
    • Please see the most recent communication from Nationwide for additional details.
  • OneAmerica:
    • Asset Care: Backdating not available
    • Annuity Care: Backdating not available
  • Securian:
    • SecureCare: Backdating not available
  • Transamerica:
    • Traditional LTC: Backdating not available
    • Life products with an LTC Rider: Transamerica has yet to declare their position on backdating these cases.

Carrier Guidance on Policy Placement

Given the uncertainty of the backdating strategy as well as it not being universally available, please see the following excerpts from Core Carrier communications regarding best practices for expediting Washington business. Clicking through to the full communication from the carrier, where available, is highly recommended.

  • Equitable:
    • Life products with an LTC Rider: Please follow normal New Business protocols
  • Global Atlantic:
    •  ForeCare: Please follow normal New Business protocols. Given that Global Atlantic has already issued the majority of their Washington cases, this is not likely to be an issue.
  • John Hancock:
    • Life products with an LTC Rider: Please follow normal New Business protocols
  • Lincoln Financial:
    • MoneyGuard:
      • To help ensure policy placement of your pending Lincoln MoneyGuard cases before November 1, 2021, all placement-restrictive requirements, including all premium(s), must be received at Lincoln in-good-order by October 25, 2021.
      • Your dedicated MoneyGuard Underwriting & New Business team will be working to place your Washington cases inforce through end-of-day October 29, 2021.
      • For cases in which any final requirements are received after October 25, processing will be handled on a first-in basis and are not guaranteed for placement by October 29, 2021.
      • Please see the most recent Lincoln Leader for additional details.
    • Life products with an LTC Rider:
      • Please follow normal New Business protocols. There are less than 15 of these cases still awaiting placement at Lincoln across AIN.
  • Mutual of Omaha
    • Traditional LTC: Please follow normal New Business protocols. There are very few of these cases still awaiting placement at Mutual of Omaha.
    • Life products with an LTC Rider: Please follow normal New Business protocols
  • Nationwide: CareMatters and Life products with an LTC Rider:
    • Have an illustration (even if it’s unsigned) on file with us so when we have an underwriting decision, we will be able to issue the policy at our next review. You can upload the illustration on the Life Pending Tracker.
    • Provide modal premium or EFT information with the permission to draft. With this we will place the case in force right away and collect any needed signatures when the policy is delivered.
    • Please see the most recent communication from Nationwide for additional details.
  • OneAmerica: Asset Care and Annuity Care
  • Securian: SecureCare:
    • In order for SecureCare contracts to meet the stat of WA’s guidance of LTC coverage being “purchased” before November 1, we will need an underwriting approval issue requirements met (In Good Order) and money received by Securian Financial no later than 3 p.m. CST on Friday, October 29.
    • Securian Financial will accept premium in the following ways until 3 p.m. CST on Friday, October 29.
    • The quickest and easiest ways to ensure premium is received on time is to have the client either:
      • Pay online at: www.securian.com/initial-premium
      • Call in a premium payment at: 1-800-643-5728
    • The client may submit a check via mail, but it must be received by the deadline. We recommend using a shipment service to ensure the check’s delivery is expedited and tracking information is available.
    • Please see the most recent communication from Securian Financial for additional details.
  • Transamerica:
    • Traditional LTC:
      • Please follow normal New Business protocols. There are very few of these cases still awaiting placement at Transamerica.
    • Life products with an LTC Rider:
      • Please follow normal New Business protocols. There are very few of these cases still awaiting placement at Transamerica in third party brokerage.

AdminUpdate: Principal Introduces Concierge Underwriting for Business Cases

FROM PRINCIPAL…

We’re excited to introduce our new Principal® Business Solutions Enhanced Underwriting program. At a high level, the program is an extension of Accelerated Underwriting, designed to underwrite more individuals without insurance exams at higher face amounts. It’s our way of acknowledging that fully underwritten cases have the opportunity for a better customer experience, even at multi-million face amounts when the right information to comfortably assess the risk is available. We’ll leverage both digital health data and the traditional Attending Physician Statement (APS) for this program.

Eligibility Guidelines

  • The policy must be employer-owned/sponsored, trust-owned, or an affiliated relationship (i.e., an individual policy owned by a business owner, key employee or their family member).
  • Face amounts are available up to $50 million.
  • All currently sold products are eligible.
  • Insured eligibility:
    • Ages 25-70.
    • Have total compensation of $150,000 or higher.
    • U.S. citizen or green card holder—foreign nationals/foreign residents are not eligible.
    • Professional athletes, entertainers, government officials, and other high-profile applicants are not eligible.
    • Contact your underwriter prior to case submission if you have questions about whether specific occupations qualify.
    • Standard or better risk class, including cases improved to Standard with Healthy Lifestyle Credits. Cases improved to Standard through the Principal Risk Upgrade Program are not eligible.
  • The Attending Physician Statement must include history for the past five years, including a physical with blood, urine, and physical measurements in the past 12 months.
  • Favorable EKG or cardiac testing within the past 3 years:
    • Ages 41-49 for face amounts over $10 million.
    • Ages 50+ for all face amounts above applicable Accelerated Underwriting limit.
  • An online Part B or TeleApp interview is required for application Part B completion.

Find out more about these changes from Principal…

AdminUpdate: Securian Suspends Premium Finance Business for Balance of 2021

FROM SECURIAN FINANCIAL…

New Premium Finance Cases on Hold until 2022

Securian Financial has reached premium finance capacity limits for 2021. Effective immediately, we will not accept new premium finance cases for placement consideration in 2021.

Please note the following:

  • Proposed Insureds already reviewed and allowed to proceed to underwriting bu the Premium Financing Committee may still submit formal applications for placement consideration the year,
  • Proposed insureds with a Premium Financing Pre-Application Request submitted prior to or in conjunction with the submission o the application, but not yet reviewed but egg Premium Financing Committee, will be evaluated on a case-by-case basis for placement consideration this year. Please engage your Securian Financial Sales Team on these cases to facilitate proper consideration for placement this year.

We appreciate your business and know we remain committed to the Premium Financing market. New premium financing case will again be considered for placement starting in January 2022.

Find out more about these changes from Securian Financial…

Formal Announcement from Securian Financial

AdminUpdate: Global Atlantic Announces Washington State Cutoff for ForeCare

FROM GLOBAL ATLANTIC…

We encourage you to submit any Washington cases as soon as possible. While we cannot guarantee issuance by the November 1, 2021 deadline, the following guidelines and key dates should be followed to increase the likelihood of issuance before November 1.

  • October 8th: Submit all applications by October 8, 2021 (underwriting approval must be completed prior to application submission).
  • October 29th: 1035 exchange cases will be dependent on receipt of funds on in good order policies from the surrendering carrier no later than October 29, 2021. Surrendering carrier turnaround times vary, we highly recommend contacting the surrendering carrier for further details.
  • November 1st: The state of Washington allows residents to apply for an exemption from the payroll tax for policies issued prior to November 1, 2021. Any business that is not issued by October 29, 2021 will continue to be processed by Global Atlantic, however it will not qualify for exemption from the payroll tax assessment.

Forethought Life Insurance Company cannot provide specific recommendations on legal requirements or exemptions from such legal requirements, however, so each individual must consult with his or her own legal counsel for specific recommendations.

AdminUpdate: Zurich Announces Retention Changes

FROM ZURICH…

As we enter the fourth quarter, we want to thank you again for your business, feedback and partnership this year. We continue to work on initiatives that improve our broker and customer experience while responsibly growing with a focus on long term sustainability. With these goals in mind, I would like to share the following updates.

Update to Retention Limits

As COVID cases continue, please note the following updates to our retention limits effective today. Click here to download the announcement and transition guidelines.

  • Nearest Age Through Age 60:
    • Through Table D: $20,000,000
    • Table E – H: $10,000,000*
    • Table I or above: Postpone
  • Nearest Age 61-69:
    • Through Table D: $10,000,000
    • Table E or above: Postpone
  • Nearest Age 70-75:
    • Through Table B: $5,000,000
    • Table C or above: Postpone
  • Ages 76+: Postpone

Find out more about these changes from Zurich…

*Not available if comorbidity for COVID-19 conditions exist: Obesity; Chronic respiratory conditions, such as COPD, asthma, emphysema, etc. , Chronic kidney disease, Diabetes mellitus, Heart disease, Cancer, Hypertension, Immunocompromised illness (e.g., Crohn’s, ulcerative colitis, HIV, SLE, RA), Solid organ or bone marrow transplantations, Long term use of immunosuppressive treatments.

Extended! Lincoln’s Underwriting Upgrade Program on the VULOne Suite

FROM LINCOLN FINANCIAL…

Lincoln is committed to finding new ways to help our partners grow their business and reach new customers and we’re pleased to announce, effective immediately, Lincoln is offering an enhanced underwriting program to provide even more value with our suite of Lincoln VULOne product solutions.

Lincoln VULOne and SVULOne cases received at Lincoln October 29, 2021, and subject to full underwriting, will receive a one-class underwriting upgrade. Any case placed inforce prior to May 20, 2021 is not eligible.

Case submission guidelines & eligibility

  • New submissions must be received at Lincoln, in-good-order, by October 29, 2021
  • All cases eligible for the one-class underwriting upgrade must be placed inforce, or 1035 exchange initiated, by December 31, 2021
  • LincXpress ticket, eApp and traditional application submissions are eligible
  • Cases in a pending status as of May 20, 2021 are eligible
  • 1035 exchanges in process as of May 20, 2021 are eligible

Issue age/face amounts

  • Issue ages 20-80
  • All specified amounts
  • Subject to age/risk class guidelines based on product applied for
  • Both lives are eligible on SVULOne cases
  • Per current guidelines, backdating from age 81 to age 80 will not be permitted to qualify

Underwriting qualifications

  • Fully underwritten cases are eligible, subject to current underwriting guidelines
  • Substandard rated cases are eligible, subject to current underwriting guidelines
  • LincXpress lab-free cases are eligible
  • Underwritten internal exchanges are eligible

Exclusions: Not eligible for the enhanced underwriting program

  • Policies placed inforce prior to May 20, 2021
  • New submissions received at Lincoln after October 29, 2021
  • Cases assessed at standard through the Table Reduction Program (TRP)
  • The one-class underwriting upgrade cannot be used to be eligible for TRP consideration
  • Cases currently postponed under the COVID-19 temporary underwriting guidelines
  • Term Riders
  • Term Conversions

Find out more about these changes from Lincoln Financial…