Form Updates
On Monday May 13th,, 2019 a new SBLI Part II Application form is being introduced. The updates include a reduced number of medical impairment questions in the Medical Information section and an overall improvement in the question flow. In addition, minor updates have been made to the Part 1 – CA (17-A-91-CA), Aviation Questionnaire (ICC18-AQ-45) and Conditional Receipt forms for regulatory reasons.
We have also recently implemented operational changes to our Term Conversion and ZipApp® Drop Ticket Programs. Details of these changes are outlined below.
New Term Conversion Product Option
A non-participating whole life product is the new option for SBLI Level Term policies and riders with a policy issue date on, or after August 1st, 2012. This new product provides the advantage of fixed costs and lower out-of-pocket premium payments.
If the non-participating whole life product is selected please contact the SBLI Brokerage Sales Desk at 1-888-224-7254 (Option 1) or Brokerage@SBLI.com for a quote.
The updated term conversion options are as follows:
Existing Term Product
Permanent Product Conversion Options
Level Term polices or Level Term riders with a policy issue date before 8/1/2012
Flex Whole Life (Participating)
Conversion Universal Life
Level Term polices or Level Term riders with a policy issue date on, or after, 8/1/2012
Non-Participating Whole Life
Conversion Universal Life
All Yearly Renewable Term plans or Yearly Renewal Term riders
ZipAppDrop Ticket Update
A new pre-screen tool has been added to our ZipApp Drop Ticket process to help optimize the outcome of matching our Accelerated Underwriting process with your client’s insurance needs. Please note it has been designed to provide additional guidance and is a required part of the drop ticket submission.
In the ‘pre-screen’ section of the drop ticket process a short list of screening questions, such as prior life insurance declinations and criminal history are asked. These questions are typically addressed when discussing a client's needs and will help to determine if this product is a good fit for your clients. Click here to see the ZipApp Producer Guide for the complete list of pre-screen questions and more information about the process.
Further Information
If you have any questions or need additional information, please contact the SBLI Brokerage Sales Desk at 1-888-224-7254 (Option 1) or Brokerage@SBLI.com.
