Provada Blog
 
To All NAIFA-California Members: An Annuity Dateline Special!
 

Posted by Nickelle Leist on Thu, Apr 10, 2008 @ 01:33 PM

This was just received from NAIFA-California regarding a Dateline NBC show that  applies to anyone in the annuity business, although it was intended for those in California; read below.

To All NAIFA-California Members:

Dateline NBC has been working on a project involving "unsuitable senior investments." 
The show will more than likely contain segments regarding annuity sales to seniors. 
While we don t know the exact content, we believe it is a good idea to watch the show. 
You may get questions from prospects and clients that have also watched.

Dateline NBC airs this Sunday, April 13 at 7:00 pm.

Tags: Annuities, Other Insurance

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Don't stumble so close to the finish line!
 

Posted by Nickelle Leist on Thu, Apr 10, 2008 @ 01:26 PM

The Most Common Mistakes When Submitting Life Insurance!

Proposed Insured (this information is incomplete on 32% of all cases received)

  • Occupation and Duties
  • Proposed Insured Earned Income
  • US Citizen/Resident Alien
  • Drivers License Number
  • Subject to Back-up Withholding

EFT (incomplete on 25% of all cases)

  • Account Owner Name and other EFT data

Beneficiary/Owner (incomplete on 23% of all cases)

  • Owner SSN#/TIN
  • Beneficiary Class
  • Relationship of Beneficiary
  • Type of Beneficiary Trust

Coverage (incomplete on 9% of all cases)

  • Purpose of Insurance
  • Existing Insurance Type and Amount

Replacement (incomplete on 5% of all cases)

  • Do you have any information, other than stated in this application which indicates that any proposed insured may replace or change any current insurance or annuity in any company?
  • Other Replacement Questions

Premiums (incomplete on 4% of all cases)

  • Premium Payment Mode
  • Source of initial/future premiums (incomplete on 1% of all cases)

Reinstatement

  • Reinstatement Amount
  • Reinstatement - Insurance company

Tags: Life Insurance, Underwriting

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