Tips for Efficiency and Accuracy

Use automated reminders: Set automated reminders for critical stages, such as daily status checks or follow-up deadlines. This can help prevent lapses in follow-up and ensure a consistent workflow.

Tracking System: Use Wealthbox Pipeline Stage. Add notes for each stage, especially any that require Ryan’s approval or the client’s confirmation.

Establish a communication Protocol with Ryan: Set up a clear line of communication with Ryan to quickly address any questions or requirements, especially for discretionary tasks like document attachments or voided checks.

Maintain consistent Client Updates: Only if needed

Send periodic updates to the client about their application’s progress, even if no action is required from them. This helps keep the client informed and reduces the likelihood of follow-up calls asking about the status.

Insurance Application Process

1. Initial Appointment and Client Discovery

This stage focuses on establishing client needs and setting the groundwork for the application process.

1.1 Confirm appointment and gather initial information: verify the appointment time and client details to ensure all parties are prepared.

1.2 Review the client’s initial pain points, such as financial goals, concerns, or questions about insurance or annuity options.

1.3 Determine the Best Plan and Provider: Assess the client’s financial situation and discuss suitable options (life insurance or annuity).

1.4 Help the client understand which provider (NLG, MNL, Surance Bay) aligns best with their needs.

1.5 Outline any necessary tax considerations or specific surrendering companies involved.

1.6 Optional: Prepare Illustrations from NLG/MNL/CalPERS/CalSTRS Setup (if needed): If relevant, discuss whether illustrations, CalPERS, or CalSTRS options are needed for the client. Complete any specific setup based on the client’s choices.

1.7 Client Confirmation of Preferences and Next Steps: Confirm the client's preference on the type of plan and provider before booking the next appointment.

1.8 Schedule a follow-up appointment to complete the necessary E-App steps.

MNL

LSW/NLG

Calpers Illustration

Calpers Illustration

2. E-Application (E-App) Preparation

This stage focuses on compiling and verifying all client data to ensure a smooth submission.

2.2. Assign Responsibilities: Designate specific team members (e.g., Karen, Edesa) to manage the E-App stage. This creates clear accountability and prevents overlooked details.

2.3 Collect client data and documentation: Ensure all necessary client data is collected, verified, and securely stored. Double-check the information to avoid errors in the E-App.

2.4 Compile Attachments (If Required): Confirm with the client or Ryan if an application copy and voided check are necessary.

2.5 Attach these documents only if they’re required for this specific application.

2.6 Advance to Processing Stage: Once all documents and data are ready, transition the application to the Processing Stage.

MIDLAND E-APPLICATIONS SAMPLE

MNL ANNUITY

MNL SRA+TRANSFER

MNL ENDEAVOR

MNL SRA ONLY

ONLINE S.R.A. & TPA SAMPLE

SALARY REDUCTION AGREEMENT

THIRD-PARTY APPROVAL(NEW)

THIRD-PARTY APPROVAL(EXC)

MNL Premier Email (LOI+TPA) OPT. ID

CREATING AN LOI & EMAIL ATTACHMENTS

3. Processing Stage

This is the core of the application process, where the E-App is completed and monitored until approval.

3.1 Complete and submit the e-application: Ensure all client data is accurately entered in the electronic

application.

3.2 Review the application thoroughly to minimize the chance of errors or delays.

3.3 Daily Monitoring and Messaging Check: Regularly monitor the messaging section for updates or additional requests from the provider.

3.4 Designate a team member to check the status and address any new requirements promptly.

3.5 Attachment Verification and Void Check (If Required): Attach additional documents like application copies and voided checks only if necessary, per Ryan’s guidance.

4. Provider-Specific Steps

Some applications require additional steps depending on the provider.

4.1 For MNL Applications:

4.1.1 Ensure Page 3 of the Acord form is completed if required.

4.1.2 Collect all necessary client signatures before emailing MNL with the completed application and TPA approval, if applicable.

4.1.3 Include a Letter of Instructions (LOI) detailing where and how to send surrendering company information, contact numbers, and any additional data the client or provider may need.

4.2 For LSW Applications: If working with LSW, confirm with Ryan whether additional checks are required or if the client should be contacted.

4.2.1 Follow Ryan’s instructions regarding further communication and required documentation.

5. Client Confirmation and Signature Collection

This stage ensures the client has approved and signed all necessary documents.

5.1 Send E-Application for Client Signature: Email the completed E-Application to the client for their review and signature

5.2. Ensure sensitive information is removed before sending it to the client for added security.

5.3 Follow Up on Signature Collection: If the client hasn’t signed and returned the application within a specific timeframe, follow up promptly.

5.4 Reach out again if necessary, but maintain clear communication to avoid appearing overly persistent.

6. Finalization and Compliance Checks

This final stage ensures the application meets all requirements and is ready for processing by the provider.

6.1 Final Review and Attachments: Double-check that all required documents, including any TPA approvals and voided checks, are included.

6.2 Confirm with Ryan if any additional documents or steps are needed before final submission.

6.3 Send Completed Package: Email the completed and signed package to the provider, including any letters of instruction and company data.

6.4 Verify that all instructions and details align with the client’s needs and the provider’s requirements.

7. Waiting Stage (Follow-Up Monitoring)

This stage focuses on maintaining contact with the provider and monitoring for completion.

7.1 Daily E-App Status Checks: Assign someone to check the E-App status daily to monitor for any issues, delays, or additional requests from the provider.

7.2 Pending Notes and 30-Day Tracking: Track all pending items or notes for up to 30 days to ensure funds, paperwork, and other requirements are finalized.

7.3 Follow up on any unresolved issues promptly to avoid future complications or client dissatisfaction.

STILL NOT SURE?

Frequently Asked Questions

Not sure

Question 1: Should I turn on my VPN each time we open Midland, National Life Group, and Advisors Excel?

Only if accessing outside US otherwise coz it tracks our IP Address.

Question 2: Which website to process the SRA and third-party approval, such as New or Exchange?

Visit 403bcompare.com and watch how to do them using the video tutorial above.

Question 3: Does Midland, National Life Group and Advisors Excel (Surance Bay) follow the same time zone?

No. Midland follows EST which is 2 hours difference from PST for National Life Group and Advisors Excel.

Question 4: How many applications are we submitting daily?

Maximum applications can vary once all data information are available (max 1-2)

Meet the Team of Professionals

Ryan Cahill

Agency Owner

Rebecca Palma

Managing Director

Karen Mahinay

Quality Insurance Specialists

Jeff Rusin

Marketing & Technical Manager

Apple Red Rose

Leads Specialists

Edesa Abecia

Project Manager