New Paper Application
To align itself within the digital world, Banner Life is introducing a new paper application that should make the application process more seamless for agents and clients.
Agent Information
With this change, there is a new application (ICC17-LIA and state variations for CA, DE, FL, ND, and SD). The new application comes in the form of a ‘fillable PDF’. This format allows users to complete the application by hand or electronically. To find the new application, you can search in the Forms section of Banner Life’s Partner Dashboard.
The current paper Life Insurance Application (LIA) will no longer be processed after Aug. 1. Any submissions after this date must use either the new LIA or apply digitally through the Horizon Platform.
If you submit applications before Aug. 1, you will notice a difference between the original and new applications. While both applications are processed digitally, the original applications will still require ordering lab, exams, and APS. Lab and exams will be ordered by the GA, and LGA will order APS and all other requirements.
When submitting the new application, only Part 1, Parts, and the Agent Report will be required. TIAA will be chosen for coverage and paid for throughout the client’s journey. A check will not be accepted as a form of payment for TIAA.
Client Information
Not only does this change impact you, the agent, but it also affects the client experience. There are some ground rules that should be expressed to the client so applications will process in a timely manner. The steps that clients must follow are as follows:
- The client should receive an email containing a link that will prompt them to answer outstanding questions and sign their application.
- During the application review process, all the additional information that is needed will be sent directly to the client via an email link.
- Once approved, the client should receive an email with a link that will allow them to accept, download, and pay for their policies.
*New York will not be affected by this change. New York may decide to use paper applications or drop tickets for non-replacement cases.
If you want to get a step-by-step look at Banner Life’s new LIA process, click HERE.
Agents
We hope that this information on Banner Life – Business Update is useful to you.
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
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