Inforce: Transfer to New Business

Have you ever had to replace or add new coverage for a client and been stuck entering most or all of the same information from an old policy again? Or been entering similar information for a family member of an existing insured? Our new "Run New Business Illustration" button on inforce cases can help cut out some of the application hassle. 

Once the button is clicked, you will be redirected to our Quick Quoter input screen where a new case setup can be entered with the existing information from the inforce policy already filled in. Once the case is customized to your client's liking, try out our E-Application to tap into the full potential of our new feature.

You will see we have loaded all client information we have on file and filled it in automatically. In addition, we have filled in the existing policy's PAC Number and transferred any Beneficiary and Owner information. By default, we don't set the transferred Beneficiary and Owner types. If you have this information, select the correct type. However, if you are not sure of the correct type and select an incorrect type, you may change the type back to "Select Type" and choose the correct type.

We hope this feature produces a smoother process for creating new cases on existing clients and would love to hear your feedback!

Illustration Development Team
1-800-572-2467 x8162
illustrationhelp@kclife.com

Electronic Conversion Application

As many of you continue filling out applications, you might notice there is a new 'Conversion' button on the E-App and are wondering, "What is that?" Well, that is our newest feature: the Conversion E-Application!! Just as the name would suggest, this is the electronic version of the application used to convert non-permanent plans to permanent products.

First, to have access to the Conversion E-App, you will want to make sure that you have a permanent product selected. These products are the Premier Protection UL, Compass Elite IUL, EquiFlex IUL, Value Assured WL and Value Certain 20 WL. Then, once you've filled out the rest of the Quick Quoter with the conversion information, you will make your way into the E-Application. At the top, you will see options for Tele-App, Full App. In addition to those, you should see the Conversion button next to those two, as long as the case setup does not need to go through underwriting again. This could happen by the adding certain riders, such as the Enhanced Living Benefits (ELB).

The first thing you should notice is that the top section on the application has switched from the Primary Insured Information section to the Existing Plan Information Section. 

This is unique to the Conversion application, and it actually has a few features to assist with partial conversions. The current policy's face amount that is entered in this section will get compared to the benefit amount entered on the Quick Quoter. If the two amounts are the same, nothing will happen and you can just continue on through the application. If the new conversion benefit amount is less than the face amount then your screen will adjust as seen below:

This feature helps speed up the application process because it lets our New Business department know this is a partial conversion, and what is done with the rest of the original policy. After that you will continue to fill out the application.

Please don't hesitate to contact us if you have any questions or need help with completing any part of the Conversion E-App!

Illustration Development Team
1-800-572-2467 x8162
illustrationhelp@kclife.com