P R O C E S S B R O C H U R E

Transcription

1 PROCESS BROCHURE

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3 LIFE MOVES FAST. INSURE YOUR CLIENT EVEN FASTER. I N T R O D U C I N G BY SAGICOR Life moves fast. In a blink of an eye your clients go from first job, to first child, to empty nester. Wouldn t it be nice to stay one step ahead for your clients? That s why Sagicor Life Insurance Company developed a speedy, new, state-of-the-art automated underwriting system called Accelewriting. It dramatically speeds up our application, underwriting review and decision, and policy issue processes. We re talking faster than the speed of life. What is Accelewriting 4 The 7 Steps of Accelewriting 5 Sagicor Simplified Issue Unisex Build Table 6 Sagicor Guidelines for Simplified Issue 7 Sagicor Simplified Issue Ineligible Prescription Drug List 8 Sagicor Simplified Issue Medical Impairments 8 Frequently Asked Questions 15

4 WHAT IS ACCELEWRITING? Accelewriting is the new state-of-the-art automated underwriting system from Sagicor Life Insurance Company (Sagicor) for simplified issue products. It eliminates the need for a face-to-face meeting with the client, tele-interview and traditional underwriting requirements such as paramedical exams, attending physician s statements, and bodily fluid tests. Accelewriting relies upon a robust rules engine utilizing predictive analytic tools and databases in order to provide a final underwriting decision within minutes (1-2 minutes on average). The automated underwriting system is accessible via Firelight, our online tablet-compatible eapplication system. Accelewriting allows us to offer you better commissions on the following Simplified Issue (SI) products: Sage Term Sage NLUL Sage Whole Life Face amounts: $50,000 - $400,000 Face amounts 1 : $25,000 - $400,000 Face amounts 1 : $25,000 - $250,000 Issue Ages: 18 years - 65 years Issue Ages: 16 years - 65 years Issue Ages: 16 years - 65 years 5 Risk Classes including Preferred Non-Tobacco & Preferred Tobacco 5 Risk Classes including Preferred Non-Tobacco & Preferred Tobacco 5 Risk Classes including Preferred Non-Tobacco & Preferred Tobacco Conversion Program Built in Lapse Protection Guaranteed Level Premiums Inherent Benefit: - Accelerated Benefit Insurance Rider Optional Benefits: - Accidental Death Benefit Rider - Children s Term Rider 2 - Waiver of Premium Rider Full Underwriting Available for: Issue Ages: 18 years - 65 years - $400,001 & over Issue Ages: 66 years - 75 years - $50,000 & over Inherent Benefit: - Accelerated Benefit Insurance Rider Optional Benefits: - Accidental Death Benefit Rider - Children s Term Rider 2 - Waiver of Monthly Deductions Full Underwriting Available for: Issue Ages: 16 years - 65 years - $400,001 & over Issue Ages: 66 years - 85 years - $25,000 & over Juvenile Express Issue Available for (eapplication only): Issue Ages: 15 days - 15 years - $25,000 - $99,999 Inherent Benefit: - Accelerated Benefit Insurance Rider Optional Benefits: - Accidental Death Benefit Rider - Waiver of Premium Rider Full Underwriting Available for (eapplication only): Issue Ages: 66 years - 85 years - $25,000 - $250,000 Juvenile Express Issue Available for (eapplication only): Issue Ages: 15 days - 15 years - $25,000 - $99,999 Policy Forms: ICC101000/1000, ICC101010/1010 and ICC091009/1009 4

5 THE 7 STEPS OF ACCELEWRITING STEP 1 VERIFY THE PROPOSED INSURED IS ELIGIBLE FOR THIS PROGRAM BY ASKING THEM THE FOLLOWING QUESTIONS FROM THE APPLICATION: 1. Does the Proposed Insured currently receive health care at home, or require assistance with activities of daily living such as bathing, dressing, feeding, taking medications or use of toilet? Yes No 2. Is the Proposed Insured currently in a Hospital, Psychiatric, Extended or Assisted Care, Nursing facility? Yes No 3. Is the Proposed Insured currently in Prison or Correctional facility due to a misdemeanor or felony conviction? Yes No 4. Has the Proposed Insured ever tested positive for the HIV virus or been diagnosed by a member of the medical profession as having AIDS or the AIDS Related Complex (ARC)? Yes No 5. Has the Proposed Insured ever tested positive for or been diagnosed by a member of the medical profession as having Alzheimer s or Dementia, Cirrhosis, Emphysema or Chronic Obstructive Pulmonary Disease (COPD)? Yes No 6. Has the Proposed Insured in the past 12 months been advised by a physician to be hospitalized or to have Diagnostic Tests, Surgery, or any medical procedure that has not yet been completed or for which the results are not yet available, except those tests related to the Human Immunodeficiency Virus (AIDS)? Yes No 7. Has the Proposed Insured in the past 24 months been diagnosed as having or advised by a physician to have treatment for Cancer (other than Basal Cell Carcinoma), Heart Attack, Stroke or TIA (Transient Ischemic Attack), Alcohol or Drug Abuse? Yes No 8. Has the Proposed Insured in the past 24 months had a Driver s License revoked or suspended, or been convicted of 2 or more moving violations, or been convicted of a violation for driving while intoxicated or under the influence, or for driving while ability impaired because of the use of alcohol and/or drugs? Yes No If the Proposed Insured answered No to all these questions, continue to Step 2. If the Proposed Insured answered Yes to any of these questions, they are not eligible for this program. Please see Sagicor Producer Website for fully underwritten product information. 5

6 STEP 2 VERIFY THE PROPOSED INSURED S BUILD FALLS WITHIN THE UNISEX BUILD TABLE BELOW. Minimum, Preferred, Standard and Rated risk class weights are listed in pounds. Weights listed for Preferred, Standard and Rated are maximum weights. SAGICOR SIMPLIFIED ISSUE UNISEX BUILD TABLE Height Minimum Preferred Standard Rated Preferred and Standard risk classes apply to both Tobacco and Non-Tobacco. Rated risk class applies only for Non-Tobacco use. If the Proposed Insured s build falls within this table, continue to Step 3. If the Proposed Insured s build falls outside of this table, they are not eligible for this program. Please see Sagicor Producer Website for fully underwritten product information. 6

7 STEP 3 DETERMINE THE PROPOSED INSURED S RATE CLASS. SAGICOR GUIDELINES FOR SIMPLIFIED ISSUE If you have questions regarding our guidelines, please call Producer Resource Center (PRC) at , ext Preferred Preferred Standard Standard Rated Non-Tobacco Tobacco Non-Tobacco Tobacco Non-Tobacco Alcohol/ Substance Abuse Not Available Not Available Not Available Not Available No history in over 5 years Aviation No past or future piloting within 24 months No past or future piloting within 24 months Aviation allowed Aviation allowed Aviation allowed Avocations No ratable avocations No ratable avocations Avocations allowed Avocations allowed Avocations allowed Blood Pressure See High Blood Pressure under Medical Impairments See High Blood Pressure under Medical Impairments See High Blood Pressure under Medical Impairments See High Blood Pressure under Medical Impairments See High Blood Pressure under Medical Impairments Driving History No history of DWI, DUI, Reckless Driving within 5 years and, no more than 2 minor violations within last 12 months No history of DWI, DUI, Reckless Driving within 5 years, and, no more than 2 minor violations within last 12 months No history of DWI, DUI, Reckless Driving within 3 years and, no major violations within 12 months No history of DWI, DUI, Reckless Driving within 3 years and, no major violations within 12 months No history of DWI, DUI, Reckless Driving within 2 years Family History No death of either parent prior to age 60 for Heart Attack, Stroke, Cancer or Unknown No death of either parent prior to age 60 for Heart Attack, Stroke, Cancer or Unknown Family history allowed Family history allowed Family history allowed No death of any siblings prior to age 60 for Heart Attack, Stroke, Cancer or Unknown No death of any siblings prior to age 60 for Heart Attack, Stroke, Cancer or Unknown Medical History 3 All medical and personal history questions answered no All medical and personal history questions answered no See Medical Impairments starting on page 8 See Medical Impairments starting on page 8 See Medical Impairments starting on page 8 Tobacco or Nicotine products 4 No use over 24 months Use within 24 months No use over 24 months Use within 24 Months No use over 24 months 7

8 PRESCRIPTION DRUGS INELIGIBLE FOR SAGICOR SIMPLIFIED ISSUE Advair Copaxone Evista Lanoxin Risperdal Zidovudine (AZT) Aggrenox Coumadin Exelon Lasix Sinemet Zofran Amiodarone Crixivan Femara Lupron Spiriva Zyprexa Aricept Depakote Furosemide Morphine Sustiva Avonex Digitek Haldol Nitroglycerin Tamoxifen Baclofen Digoxin Heparin Plavix Tarceva Cognex Eldepryl Infergen Requip Warfarin Combivent Epivir Isosorbide dinitrate Ribavirin Xeloda SAGICOR SIMPLIFIED ISSUE MEDICAL IMPAIRMENTS This is not an all inclusive list. Rate class shown is not guaranteed. If you have questions regarding conditions, please call Underwriting at , ext Condition Criteria Possible Rate Class AIDS Alcoholism Alzheimer s Medically diagnosed as having Acquired Immune Deficiency Syndrome (AIDS) or AIDS related complex (ARC) Diagnosis of alcohol abuse within the last 5 years Treatment for alcohol abuse within the last 5 years Diagnosed with, treated for or advised by a Licensed Physician to be treated for memory loss, dementia or Alzheimer s disease Amputation Caused by disease Anemia Anemia or disorder of blood-unless iron deficiency anemia in pre-menopausal female Diagnosis of Thalassemia, Siderobastic anemia or sickle cell Aneurysm Not treated Treated Rated 5 Angina All cases See Heart Disease Angioplasty All cases See Heart Disease 8

9 Condition Criteria Possible Rate Class Arthritis Rheumatoid, controlled with treatment of NSAIDs Rated Asthma Bladder Rheumatoid, All others Hospitalized or seen in ER 2 or more times, Used steroid medication or required oxygen in the past 12 months Combined with Tobacco Use, Smoker History of neurogenic bladder Bladder paralysis Tumors, cysts or hospitalizations Blindness Caused by diabetes, circulatory disorder, or other illness Other causes Rated 5 By-pass Surgery All cases See Heart Disease Cancer Basal or Squamous cell Standard Colon, Liver and Pancreatic 6 years or more since surgery, diagnosis, or last treatment; no recurrence or additional occurrence Rated 5 Cerebral Palsy If not self-supporting and/or mental impairment Chest Pains If tests were done and the results were not normal Chronic Obstructive Pulmonary Disease (COPD) Congestive Heart Failure All cases All cases Cystic Fibrosis All cases Diabetes Diagnosis under age 40 Blood sugar not checked in the past 6 months Insulin dependent Advised of uncontrolled blood sugars in the past 12 months Complications such as diabetic coma, retinopathy, neuropathy, amputation, unintended weight loss If controlled on oral medication only or diet Rated 5 9

10 Condition Criteria Possible Rate Class Down s Syndrome All cases Driving Record Drug Abuse DWI/DUI is within 24 months 2 or more driving violations within 24 months License suspended/revoked within 24 months Diagnosis of substance abuse within the last 5 years Treatment for drug abuse Relapses or abuse of another substance after initial treatment Epilepsy Convulsions within the last 12 months Felony Currently on parole, probation, awaiting pending charges or trial Gallstones Headaches More than one episode in the past 12 months other than the removal of the gallbladder Headaches that have increased in frequency or severity Headaches that have required hospitalization Abnormal tests results within the past 2 years Currently under evaluation or been advised to have further evaluation or testing done for headaches Heart Disease Includes heart attack, angina and angioplasty or stents Rated 6 Cardiomyopathy Ventricular Fibrillation Heart Transplants Heart Murmur History of surgery Rated 5 High Blood Pressure Controlled with medication. Rated 7 Uncontrolled Hodgkin s Disease All cases Hypothyroidism or Hyperthyroidism Human Immunodeficiency Virus (HIV) Immune System Disorder If diagnosed with hypothyroidism or hyperthyroidism and the symptoms are not controlled with treatment Positive test results for Human Immunodeficiency Virus (HIV) All cases 10

11 Condition Criteria Possible Rate Class Kidney Disease Kidney Failure Insufficiency or any other disease or disorder of the kidneys Nephrectomy Polycystic Kidney Disease Transplant recipient Leukemia All cases Liver Disease Lupus Erythematosus (SLE) Melanoma Mental or Nervous Disorder History of Cirrhosis or Fibrosis History of elevated liver enzymes Hepatitis C or any other forms (except A and B) Systemic Treatment or Surgery: Completed 6 years or more, no recurrence or additional occurrence Treatment or Surgery: Completed 5 years or less, any recurrence Psychosis, Schizophrenia, Bipolar Disorder (Manic Depression), Major Depression, Down Syndrome, or Autism Suicide Attempt Disability or loss of work due to any mental/nervous condition Hospitalization within the last 6 months Attention Deficit Hyperactivity Disorder (ADHD), Obsessive Compulsive Disorder (OCD) Anxiety or Panic Disorder, Seasonal Affective Disorder (SAD) Rated 5 Standard Multiple Sclerosis All Cases Muscular Dystrophy All cases Pacemaker Without defibrillator and no other heart conditions Rated 6 Pancreatitis If more than a single attack within a year If history of a pancreatic cyst, tumor or unresolved abscess Paralysis Includes paraplegia and quadriplegia Parkinson s Disease Peripheral Vascular Disease (PVD) All Cases All cases Includes Peripheral Arterial Disease (PAD) 11

12 Condition Criteria Possible Rate Class Prostate Pulmonary Embolism Rectum or Intestines Reproductive Organs Seizures History of elevated PSA test results within the past 2 years History of prostrate tumors other than BPH (benign prostatic hypertrophy) Single Episode over 6 months ago Multiple Episodes Crohn s Disease More than 1 episode of polyps or tumors in the past 3 years and was not benign History of bleeding, obstructions, or unintended weight loss in the past 12 months Ulcerative Colitis or surgical resection Disease/disorder of reproductive system History of abnormal bleeding or abnormal test results within the past two years History of tumors, polyps, cysts, or fibroids in the past 2 years Evaluated or advised to have further evaluation or surgery Grand Mal (Tonic-Clonic) Complex Partial Seizure Petite Mal 3 or more seizures w/n 12 months Rated Sleep Apnea Controlled with treatment Rated 5 Stomach Stroke, CVA/ Subarachnoid Hemorrhage, Transient Ischemic Attack (TIA) Transplant, Organ or Bone Marrow History of bleeding, coughing up blood, or unintended weight loss in the last 12 months. Any history of strictures, obstructions, duping or erosion of stomach lining or hospitalizations in the past 12 months Stroke, 2 or more TIAs 1 TIA History of transfusion, stem cell or bone marrow treatment Rated Tuberculosis Less than 1 year Urinary Weight Reduction Surgery Over 1 year ago and no complications Urinary obstruction within the last 12 months other than UTI history of blood or protein in urine Within 2 years no complication weight stabilized. Rated Rated 12

13 STEP 4 STEP 4 RUN THE ILLUSTRATION 1. Log on to the Producer portal of the website and launch our Illustration Software. 2. Click on the bar that says Run Sagicor Life Illustration Software Online. 3. Click on New Illustration under Activities. 4. You must select Jurisdiction, Product Type, and Product Name for the Application option to appear. 5. Enter Proposed Insured s information (birthdate must be provided). 6. Enter product information. 7. Select riders. 8. Select Reports to see entire illustration. 9. Save the illustration. 10. Select Application to complete electronic application. Note: (1) Be sure to run the illustration for the state in which the client will sign the application. This will ensure that the correct forms, coverage, rates, etc. are quoted to your client and eliminate delays in processing. (2) The on-line version of the Illustration software must be used with the electronic application. (3) The illustration must be saved before you enter the electronic application. (4) Information entered in the illustration can t be altered in the electronic application. (5) The premium mode selected in the illustration cannot be changed in the electronic application. (6) If the selected mode is EFT, commissions will be paid sooner if we are instructed to draft the initial premium (Section 6 of the application). See Detailed Instructions for Running an Illustration on Producer Website for further information. 13

14 STEP 5 COMPLETE THE ELECTRONIC APPLICATION 1. Click on Application and then Create Application. 2. Complete the 4 steps for the eapplication a. Form Entry b. Signatures c. Review d. Finalize 3. Submit the application electronically. STEP 6 GET THE UNDERWRITING DECISION BACK 1. Sagicor will send an electronic underwriting decision to My Messages, display a pop-up message and add an entry to your Applications History section in the Illustration System. 2. The possible underwriting decisions are: Approved Preferred Non-Tobacco Approved Preferred Tobacco Approved Standard Non-Tobacco Approved Standard Tobacco Approved Rated Non-Tobacco Referred to Underwriting d STEP 7 DELIVER POLICY AND GET PAID 1. Sagicor mails the policy to the producer. 2. Producer delivers the policy to owner and gets any delivery requirements signed. 3. Producer sends all delivery requirements to Sagicor. 4. Sagicor settles policy and pays commissions electronically. 14

15 FREQUENTLY ASKED QUESTIONS What is Accelewriting? Accelewriting is the new state-of-the-art automated underwriting system from Sagicor for simplified issue products. It allows for electronic quotes, completion and submission of your client s application within minutes, and an electronic return of the underwriting decision within minutes (1-2 minutes on average). Which Sagicor products can be written using this new Simplified Issue process? 1. Sage Term (10/15/20 Year) 2. Sage NLUL 3. Sage Whole Life For our Accelewriting process, the maximum face amount we will consider for any one applicant is $400,000, whether the applicant applies for a single product or a combination of products. Higher limits are available on fully underwritten applications. Does Sagicor give me information that helps me determine if my client qualifies for the program and select the right rate class for them? Yes, the Accelewriting Brochure and the Simplified Issue Underwriting and Medical Impairment Guide give you: 8 questions you can ask your client before starting the eapplication; Sagicor s Guidelines for Simplified Issue; Unisex Build Table; A preliminary list of Ineligible Prescription Drugs; Medical Impairment Chart with Possible Rate Classes How does the commission compare for SI eapplications vs. Paper applications? Commissions on settled policies with applications submitted through Accelewriting are higher than those on settled policies submitted to us with paper applications. If I submit an eapplication through this new process, when do I complete the tele-interview? No tele-interview is needed to submit the electronic application. Your initial questions and the expanded application pages allow our Accelewriting automated rules engine to gather needed information without the vendor tele-interview. Can I use a tablet? Yes, the Accelewriting process is fully tablet compatible. 15

16 Will I need to enter my client s information more than once as I complete the illustration and eapplication? No. All information entered into the Illustration system is electronically mapped into the eapplication reducing the need for duplicate data entry. Once the illustration is saved, approximately 70% of the eapplication is complete. Can an eapplication be entered without first completing an illustration? No. The illustration must be completed and saved before the eapplication can be started. Can you alter information on the eapplication without changing the illustration? No. Any information that has been pre-filled to the application from the illustration cannot be changed without going back to the illustration and rerunning it. This includes the premium payment mode. What can slow down processing and the underwriting decision on an eapplication? Incomplete information: Be sure to complete all data fields that are bordered in red on the eapplication. This is mandatory information. Your eapplication will not be 100% complete until they have all been answered. Inaccurate information: Be sure the data input is accurate. Certain errors (incorrect states, wrong producer number) stop the process and require manual input by you or us. ** Make sure your producer license and appointment information is up to date before you submit the application. This can cause big delays. ** What else can slow down the process? When you select the monthly EFT payment option, if the answer to Draft Initial Premium is NO, we will not be able to issue or settle the policy until we have approval. Note that we will never draft for more than the premium amount in your illustration without client approval. What state should I use to run the illustration? The state where the client will sign the eapplication should be used for both the illustration and the application. You need to be licensed and appointed by Sagicor in that state or we will not be able to complete the approval. What happens if the client selects esignature? When the client declines esignature, you must follow the process for a paper application. You can print the electronic application and secure a wet signature, schedule the interview with Management Research Systems, Inc (MRS) and then send all completed forms to Sagicor. This will slow down the application review process and result in a lower commission rate. Please note that the Sage Whole Life is not available through the paper application process. If the client declines to esign, they cannot continue with the Whole Life application process. How will I know if the client has signed all documents? When the client has reviewed and signed all documents you will receive a message in your Message Center located in the Illustration System. 16

17 What happens if the client can t open the ? We suggest you resend the . If the client still cannot open the , there may be an issue with software. If it can t be resolved, you ll have to submit a paper application. This will slow down the process and reduce the commission rate. What happens if my client finds that the completed and signed eapplication needs changes? The eapplication can be unlocked and changed prior to submission. Once the eapplication has been submitted you ll need to rerun the illustration and application. Once completed, signed and submitted, we cannot go back and change it. How and when does the underwriting decision come back to me? For applications submitted electronically, the decision comes back to you electronically in minutes (1 2 minutes on average). If you are still in the system you will see a message pop up on your screen. If you have closed out the software, there will be a message for you in the Message Center (upper right hand corner of your illustration screen) and the Application History section. What can I do if a client is declined? Please consider our fully underwritten option for coverage. Who do I contact for additional information on this program? Contact your Sagicor Regional Sales Manager, or Call (toll-free) our Producer Resource Center at Extension 4680, or our Producer Resource Center at [email protected] 1 In WV, Minimum Face Amount is $25, Only available under Fully Underwritten applications. 3 In order to qualify for a Preferred rating, insured must be able to answer no to all medical and personal history questions. 4 Tobacco classification includes any use of tobacco products (cigar use, chewing tobacco or snuff, pipe, e-cigarettes, etc.) or use of nicotine replacement therapy (gum, patch, etc.). 5 Accept Rated if the insured meets all the other rated criteria and has no other ratable impairments. 6 Consider Rated if 2 years since diagnosis, surgery or last treatment if application has no other ratable impairments and meets all other rated or better criteria. 7 High blood pressure may qualify for Preferred. Rate class determination will be made during automated underwriting process. 17

18 NOTES

19 NOTES

20 SAGICOR LIFE INSURANCE COMPANY 4343 N. Scottsdale Road, Suite 300 Scottsdale, AZ PRODUCER RESOURCE CENTER (888) Ext Fax(800) UNDERWRITING DEPARTMENT (888) Ext Fax(480) For producer use only. Not for use with the general public. S Sagicor is rated A- (Excellent) by A.M. Best Company (4 th best out of 16 possible ratings). This rating is based on Sagicor s financial strength and ability to meet its ongoing obligations.