Subject: SNAPPY's News Bits April 1

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SNAPPY'S News Bits

Your latest News Notes on what is current at IBA
With the recent preventive measures the world is taking to prevent the spread of COVID-19, IBA is committed to taking care of your business as all of us try to navigate these uncertain times.  

We are still here to answer the phones, emails, process new applications and business, assist on illustrations, and support you in any way you may need.  

Should you need any help or have questions please contact us at (817) 752-4980 • (972) 437-2040.
COVID-19 and Underwriting Process

Many of our companies are adjusting the underwriting procedures for the COVID-19 for application submission and policy delivery.  If you have any questions on how a carrier is adjusting please feel free to reach out to us, we are constantly monitoring the changes.
e-Delivery

Many of our life companies are moving to e-Delivery during the COVID-19 Pandemic to meet customer needs for social distancing.  When a policy has been approved we will notify you if a policy will be e-Delivered or paper.  

If you have any questions please give us a call.
SNAPApp
Our SNAP App process allows you to Drop your Client's Application in under 5 minutes.
  • AIG
  • Legal General (Banner)
  • Pacific Life^
  • Prudential
  • John Hancock
  • Mutual of Omaha
  • Protective
  • SBLI*
^ Smooth Sailing available
*Accelerated Underwriting available
Accelerated Underwriting, Smooth Sailing & Simplified Issue

Savings Bank Life (SBLI) AU program - a client between the ages of 18 to 49 can purchase up to $500,000 of Term Life or Whole Life Insurance WITHOUT the need for an Exam or Labs (some companies may offer that to very healthy clients but SBLI Guarantees that no Exams or Labs will be required). A client between 50 to 60 can purchase up to $500,000 of Term Life or Whole Life Insurance WITHOUT the need for an Exam or Labs IF they have had a Routine Annual Exam from their Primary Care Provider within the past 24 months. 
 
Pacific Life's Smooth Sailing program - a client between the ages of 50 to 69 can purchase up to $1,000,000 of Term or Perm Life Insurance WITHOUT the need for an Exam or Labs IF they have had a Routine Annual Exam (including Labs) from their Primary Care Provider within the past 18 months.


Fidelity Life's Simplified Issued program - offers your client level death benefit term insurance issue ages 18 - 65 renewable to age 95 for face amounts between $25,000 to $100,000. Policy issuance does not require a medical examination. Instead, approval for the policy depends upon your answers to health questions on the application, MIB, Rx and MVR database checks. 
Omaha Supplement Insurance Company Rate Change

Effective April 1, 2020 Omaha Supplement Insurance Company will be experiencing a rate change on new business.  All in-force Omaha Supplement Insurance Companies policies will be experiencing the rate increase effective July 1, 2020.  We will be ordering you a new supply of Applications and Outline of Coverages this week so you will have all current dated material.  The current application is not changing at this time.

If you would like an electronic copy of the Application and Outline of Coverage please click here.
2020 Choosing a Medigap Policy

The 2020 Choosing a Medigap Policy has been released.  To download a copy of it please click here.  We will be ordering you a supply of this guide when they become available in paper format.
30 Year Term Suspension

There will be a temporary suspension of Term Essential / Elite 30-Year Reprice Term Essential and Term Elite, effective April 13. Our goal is to reprice and reintroduce Term 30 sales in June.
Term Life Answers

Effective April 1, 2020, we will be updating the conversion language for our Term Life Answers policies.

Conversion Period
The conversion period allowed will be as follows:
10-year Term:
– For issue ages 18-72: The earlier of 10 years or age 75
– For issue ages 73+: During the first 2 policy years only
15-year Term:
– The earlier of 15 years or age 75
20-year Term:
– The earlier of 20 years or age 75
30-year Term:
– During the first 20 policy years only
Thank you for your business!

Thank you for your understanding and cooperation during this time of uncertainty.  As we've all seen, things can change rather quickly in our business and we are adapting to these needs.  We will continue to send out important updates as warranted to try to minimize your email overload.

If you would like to discuss this or any idea please give us a call at (817) 752-4980 or (972) 437-2040.
International Brokerage Agencies, Inc., PO Box 1345, Joshua, TX 76058, United States
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    This is an online snapshot of a newsletter created by the owner of SNAPPY's News Bits (International Brokerage Agencies, Inc., PO Box 1345, 76058 Joshua, United States) and sent via GetResponse on 2020-04-01. Report abuse