E-Application: Hold for Issue

As e-application use increases, the Illustration Help team has received many questions regarding the Hold for Issue option within the Billing Information section. The hope is that this post will clarify the current functionality of Hold for Issue and answer some of our most frequently asked questions.

The first and most important aspect to clarify is that checking the Hold for Issue box will not include the PAC form in the signed application packet and coverage will not be bound, regardless of what information has been entered in the section. This functionality allows the applicant and agent to review the pending policy before it is issued. If banking information is received with the application packet, the applicant is bound for coverage and Kansas City Life is obligated to draft premiums using the provided bank information. Thus by not including the page, coverage is not bound and the premiums would not be drafted until further instructions are received after the case is approved.

In the first image below, all of the billing information is filled out, but the note at the bottom says that coverage is not bound. This note is included to provide additional information regarding whether or not coverage is bound based on the scenario entered in the section. Because Hold for Issue is checked, the PAC form is not to be included in the application packet and coverage is not bound. The information at the top of the section states that the banking information can be collected now and that the Applications Dashboard can be used to submit the PAC form for e-signatures upon approval. In the second image, Hold for Issue is not checked, so the PAC form will be included in the packet and coverage is bound. 

For the cases where Hold for Issue is checked, the PAC form can be submitted for e-signatures using the Applications Dashboard. Cases awaiting the PAC form are designated with a yellow dollar sign. Expanding the case will show you the option to complete the PAC form via e-signature or other. Clicking Other means that the form was submitted to New Business by mail, fax, email, etc. This button will mark the overall status of the case as complete and you will not be able to submit the PAC form for e-signatures any longer. Clicking E-Signature will generate and send AssureSign emails for the premium payor to sign the form. The e-signature process on AssureSign is the same for the PAC form and the entire application. 

If there are additional questions regarding the functionality of Hold for Issue or suggestions for improvement, please free to contact IllustrationHelp@kclife.com.

Happy application-writing!