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ProdMod: Legal & General to Close Life Step Universal Life Product

FROM LEGAL & GENERAL…

Effective October 1, 2022, we will no longer be offering the Life Step UL product for new business, but it will remain available solely for term conversion. This will affect both Banner and William Penn business. The decision to close the Life Step UL product has no impact to any of our existing term product offerings.

Business Transition Rules:

  • Applications for the Life Step UL product must be signed and received by September 30, 2022. Any applications received after this date will not be accepted.
  • The Life Step UL product will no longer be available on our platform and other vendor platforms for application submission after September 30, 2022.
  • The Life Step UL product will still be available on our Partner Dashboard via Illustrations/Web Quoting and other 3rd party vendors for conversion quotes.
  • There will be no impact to conversion applications for the Life Step UL product. These will process “as usual”.

Find out more about these changes from Legal & General…

AdminUpdate: Legal & General to Sunset Traditional Paper LIAs

FROM LEGAL & GENERAL…

Effective August 1, Legal & General America will be replacing our traditional paper application (ICC08-LIA and state variations) with a new Life Insurance Application (LIA) (ICC17-LIA and state variations for CA, DE, FL, ND, SD). As of August 1, traditional paper forms will no longer be accepted. All applications must be submitted with either the new LIA or the digital application through our Horizon platform.

This new LIA combines the ease of using a fillable PDF form with all the benefits of digital processing and accelerated underwriting.

Click to view digital migration FAQs.

New LIA Process

  1. Fully complete the Part 1, Part 2 of the new LIA and the Agent Report. There are no additional forms needed. You would send the application to your General Agency as usual.
  2. The GA will review the application and send to LGA.
  3. Once the application is received, LGA will process the application in the digital platform.
  4. An email will be sent to your client containing a link to access their application. The client will log in using their last name, date of birth and zip code. LGA will also email the client a one-time security code to log in.
  5. The client will be asked to review their application for accuracy and provide any additional information needed.
  6. Once the review is completed, the client will sign and submit the application electronically.
  7. The application will be reviewed to determine if any requirements are needed
  8. Once the policy is approved, policy delivery will take place online through the Offer, Pay, Issue process.
  9. Notices will be sent directly to your client via email and SMS based on your GA preferences.

Click to read more on the new application and submission process.

NOTE: New York is not a part of this transition. New York can continue to use paper applications or drop tickets for non-replacement cases.

Find out more about these changes from Legal & General…

AdminUpdate: Legal & General Announces Go/No-Go Feature Available Again in iPipeline

FROM LEGAL & GENERAL…

As part of our ongoing commitment to providing advisors with the tools needed to succeed, we listen when our distribution partners provide feedback. And as a result, we’re pleased to inform you that the Go/No-Go feature is once again available in iPipeline. 

What does this mean?

  • The BGA will maintain control of the workflow over the digital submission
  • With iGO Go/No-Go, the BGA is given the ability to view, approve, or decline an application prior to its release to us
  • Each advisor or agent application will be automatically routed to the Case Manager or other designee within the BGA for Go/No-Go disposition
  • Prior to approval, the Case Manager will have the opportunity to review the application information for accuracy, especially the Banner Life BGA Code
  • Approved cases are routed to the Proposed Insured to complete the application in the Horizon digital platform

Important Notes:

  • Prior to submitting a case for the BGA to approve or decline, every advisor will need to enter their own Social Security Number (SSN) to ensure proper processing and attribution
  • In the event that Banner was turned off in iPipeline, each advisor will need to reauthorize within his or her profile

End users of this enhanced process at the BGA will notice significant improvements in efficiency and control of the overall process. Click below to learn more or contact your dedicated LGA distribution team for more information.

Find out more about these changes from Legal & General…

AdminUpdate: LGA Announces Changes to Paper Application Process

FROM LEGAL & GENERAL…

We are excited to share good news to prepare you for some upcoming changes taking place at Legal & General America (LGA). These changes will only affect those advisors that are currently using paper applications to submit business for Banner (non-NY) business.

Introducing LGA’s New Fillable PDF Application

We have developed an alternative to our traditional paper life insurance application (LIA). This new application is a fillable PDF and is now accessible in the Forms section of our Partner Dashboard.

When advisors submit business using this new fillable PDF, we will transfer all app information collected into our digital platform to automate processing, including LGA ordering all 3rd party (exams, APS’s, etc.) requirements. We will then email a digital application link to the client (client email addresses MUST be provided when submitting either app) asking them to review answers for accuracy and complete any missing information.

This means that advisors and their customers can take advantage of all the benefits our digital platform offers including instant decisions, reduced medical evidence, and faster cycle times. Click here for more information.

What if Advisors Continue to Submit Paper Applications?

Effective May 19th, these advisors will see the following process changes for traditional paper applications:

  • The client’s email address will now be required on all applications
  • This will be used to create the digital application link that will be sent to the client as described above.
  • The GA may continue to order any exam requirements as they do today
  • If the advisor and GA would prefer LGA order these requirements so the client can potentially benefit from LGA’s digital process, traditional paper applications should include a LabLift cover sheet

This now means that advisors and their customers can take advantage of all the benefits our digital platform offers including instant decisions, reduced medical evidence, and faster cycle times even if they submit a traditional paper application or the new, fillable pdf.  Click here for Digital Migration FAQs.

Important: While LGA continues to accept traditional paper applications, they will eventually require the fillable PDF or digital application for all cases.

Find out more about these changes from Legal & General…

AdminUpdate: Legal & General Implements Horizon AU Process Enhancement

FROM LEGAL & GENERAL…

More Clients Protected in Less Time

We’ve expanded eligibility for exam-free approvals to get your clients covered even faster when using our digital application. And with our built-in accelerated underwriting, we’ve made it faster than ever for them to obtain coverage.

Lab Lift Exam Substitution Program

We’re currently expanding our accelerated underwriting process with the addition of our new exam/lab substitution program, Lab Lift — giving customers a better-than-ever chance of experiencing an exam-free approval process.

With Lab Lift, clients who are not initially approved exam-free now have the option to substitute recent electronic health records (EHR), if available, or an attending physician statement (APS) for a paramedical exam. The best part? Eligible clients ages 20-60 can enjoy up to $2 million in coverage, at the same competitive price. Exam-free has never been this easy.

Learn more about the Lab Lift Program here.

Find out more about these changes from Legal & General…