TAL: Accelerated Protection on RetireSelect. A guide to quoting and applying for Accelerated Protection on RetireSelect

Transcription

1 TAL: Accelerated Protection on RetireSelect A guide to quoting and applying for Accelerated Protection on RetireSelect

2 Let s get started TAL s Accelerated Protection allows you to structure your client s insurance through the RetireSelect platform Access to Accelerated Protection is via the RetireSelect portal or directly via the TAL Adviser Centre ( 2

3 Case Study You are currently structuring insurances for your 40 year old, non-smoking male client. You have decided his insurance needs are as follows: Owned by Super Account Owned Individually $350,000 Life Cover $350,000 TPD (Linked to Life) $6,250pm Income Protection Policy 1 Policy 2 3

4 1. Log on to TAC Start by entering your TAL user ID and password: TIP: Register here if you do not HAVE login details for the TAL Adviser Centre. We will you a user id and temporary password. First time users will need to set up their security questions. 4

5 2. Obtain a Quote Select New Quote TIP: Access recent transactions and reports If you are worried about a customer s possible underwriting decision, you can ask for a preassessment here 5

6 3. Enter life insured details A pop-up window will appear (ensure pop-ups are enabled) TIP: Start typing in the occupation and a list of possible matches will appear. Alternatively, hit the Search button 6

7 4. Enter policy owner Complete the Policy Ownership and Payment Frequency fields, before selecting Add Life to policy Policy 1 structured under super ❷ ❶ ❸ 7

8 5. Add cover required Select Life Plan, and enter the sums to be insured for the Life and TPD Benefits Commission style Commission discount = 0 Stepped or Level Premium $350,000 Life and $350,000 TPD $350,000 TPD Always Any Occ in Super 8

9 6. Policy 2 - income protection Add Policy and make policy ownership life insured and complete the income protection benefit information ❶ ❷ ❸ ❻ ❹ ❺ Quote details will be updated automatically. Enter Apply to continue. 9 TIP: Maximum sum insured is automatically calculated from the income previously supplied. Select the level and type of cover, waiting period and benefit period to apply. Increasing claims means payments will increase with CPI each year if customer is on long term claim.

10 7. Duty of Disclosure Read and agree to your Duty of Disclosure before hitting Continue ❶ ❷ ❸ 10

11 8. Start the application If you and your client are happy with the quote, you can now apply for cover. This will present the Navigation & Progress Screen. Select the Personal Details to start. 11

12 9. Complete applicant details All fields marked with a red square must be completed. Enter your address to have a copy of the Application Summary ed to you 12

13 10. Complete occupation details Information text available to help you complete the application 13

14 11. Hand over for Tele-interview Let TAL complete the health and lifestyle questions on your behalf to save you from having to ask personal questions You can download a flyer to help set your clients expectations around the teleinterview process Tele-Interviewing is optional, but until you are fully familiar with the system, we would recommend you use this free service 14

15 12. Collect additional info. To assist in underwriting, then press Continue. TAL will organise any medical exams or blood tests that may be required on your client s behalf. You can upload any additional financial or medical documentation that you feel may help us in our underwriting 15

16 13. Assessment summary The summary page will show both policies have been handed over for tele-interview in the Underwriting Status 16

17 14. Obtain payment details Policy 1 Life and TPD Cover under superannuation Select Platform name and Policy Owner Details will appear below 17 An introduction to taking life (insurance) personally Ver: 1 > 00 Month 2011

18 14. Payment details (cont.) IMPORTANT: Enter TBA in the account number field if you are waiting for a rollover from another superannuation account. This will stop the policy from going in-force and then dishonouring due to lack of funds.

19 15. Payment details policy 2 Select Payment Frequency and Method for Policy 2 - income protection 19

20 16. Finalise application Confirm adviser commission payment details 20

21 17. Review and Submit Confirm that all details of the application are correct and then Submit. 21

22 18. Tele-interview booking This will launch the TAL online booking system application 22

23 19. Create Tele-interview booking ❶ ❷ ❸ TIP: Enter your address to receive a reminder. ❹ ❺ 23

24 20. The tele-interview process Application forwarded to a tele-interview consultant. Health and Lifestyle questionnaire completed over the phone at nominated time. If preferred time not nominated, we will contact your client to book a time. Most applications can be assessed and accepted online based on the information provided in the application and teleinterview. We will not advise your client of any decision made during the teleinterviewing stage. Sometimes we may need to refer the application for further underwriting to complete assessment. If that happens, the underwriter will call you to advise of the decision. You can obtain details on all applications in progress via the TAL Adviser Centre (under TAL Reports). You will be sent notifications regarding changes in application s status, including any outstanding requirements. If you have any further questions, please call TAL on during business hours Thank you for doing business with TAL. 24

25 Platform Commission Checklist When writing business through platform, there is one more date to consider when determining when you get paid. 25

26 Trouble Shooting How do I find my Platform s billing date? By choosing to view the Policy Summary tab on the Home Page, you are able to see the next platform bill date. The moment this has been billed, the commission will be paid on the next fortnightly commission run (15 th or 28th of each month). getting paid on time 26

27 Troubleshooting cont d I m awaiting a rollover to my client s account how will I know if my Client s cover is going to dishonour/ lapse? - Reports function can be used to view overdue and lapsed accounts - This can be a handy tool in the event your Client is awaiting a rollover 27

28 Thank you for your time & participation. For more information visit our website