Online Life Apps

[bill3173]

Just checking in to see if anyone has enjoyed the redundant process of doing online life apps.

Isn't it wonderful to feel like you're doing a life app online with the client? You lose control of the exam schedule, the client has to receive, review and sign a paper application and return it to the carrier. You may not know exactly when they receive the app, it's status, or if they will bother to return it. In the meantime, they may go on vacation or a business trip or both.

I don't know what your experience is, but I just did one of these because it is required under $100K, and the whole thing took 3x as long. The application was finally placed but the entire process was just about stupid. If the client had not been fully committed to getting this policy, it wouldn't have happened.

There are only a couple of true online life apps that I'm aware of, but this sure wasn't one of them.

 

[Mattschmidt]

Just checking in to see if anyone has enjoyed the redundant process of doing online life apps.

Isn't it wonderful to feel like you're doing a life app online with the client? You lose control of the exam schedule, the client has to receive, review and sign a paper application and return it to the carrier. You may not know exactly when they receive the app, it's status, or if they will bother to return it. In the meantime, they may go on vacation or a business trip or both.

I don't know what your experience is, but I just did one of these because it is required under $100K, and the whole thing took 3x as long. The application was finally placed but the entire process was just about stupid. If the client had not been fully committed to getting this policy, it wouldn't have happened.

There are only a couple of true online life apps that I'm aware of, but this sure wasn't one of them.

I'm assuming your referring to an experience with Genworth...I can't stand their forced E-APP...The other problem I have had with paramed exams is Transamerica's latest Electronic version...they did 3 of them last month for me, and Transamerica took WEEKS to locate the electronic exam....Seems like pen and paper could be quicker in some instances

 

[scagnt83]

Just checking in to see if anyone has enjoyed the redundant process of doing online life apps.

Isn't it wonderful to feel like you're doing a life app online with the client? You lose control of the exam schedule, the client has to receive, review and sign a paper application and return it to the carrier. You may not know exactly when they receive the app, it's status, or if they will bother to return it. In the meantime, they may go on vacation or a business trip or both.

I don't know what your experience is, but I just did one of these because it is required under $100K, and the whole thing took 3x as long. The application was finally placed but the entire process was just about stupid. If the client had not been fully committed to getting this policy, it wouldn't have happened.

There are only a couple of true online life apps that I'm aware of, but this sure wasn't one of them.

ezlifesales is a good one.

They dont offer an online app for every company but they do for most.
They are able to do an electronic signature for the app. But they do have to have a real signature for the delivery.

You do loose control of the exam scheduling and such, but their backroom does a good job usually. They also give you biweekly updates on the case status and an online dashboard showing the status.

The only thing that can get held up is the delivery paperwork since the client has to sign and mail back/email/fax back.
But if you just bring the delivery paperwork yourself, you can take care of it easily.

 

[SWM]

I dislike online apps. I can do a paper app so much quicker.

 

[JRoot]

Just checking in to see if anyone has enjoyed the redundant process of doing online life apps.

Isn't it wonderful to feel like you're doing a life app online with the client? You lose control of the exam schedule, the client has to receive, review and sign a paper application and return it to the carrier. You may not know exactly when they receive the app, it's status, or if they will bother to return it. In the meantime, they may go on vacation or a business trip or both.

I don't know what your experience is, but I just did one of these because it is required under $100K, and the whole thing took 3x as long. The application was finally placed but the entire process was just about stupid. If the client had not been fully committed to getting this policy, it wouldn't have happened.

There are only a couple of true online life apps that I'm aware of, but this sure wasn't one of them.

Genworth's online life app requirement is a bit ridiculous. Next time, submit it for $105,000 of coverage so you can do it your normal way. When it gets approved, have them re-issue it for the real amount.

As far as online life apps in general go - use e-sign approved carriers to factor out the application paperwork. I usually get my apps e-signed the same day they were sent so I don't run into the issues you're having. Many carriers are e-sign friendly and more are being added all the time. You can even e-sign delivery requirements.

 

[STIBROKER]

You can even e-sign delivery requirements.

AND Emailed policy's....the last ING app with EZLIFE was all done online.....

 

[NinjaNic]

ezlifesales is a good one.


The only thing that can get held up is the delivery paperwork since the client has to sign and mail back/email/fax back.
But if you just bring the delivery paperwork yourself, you can take care of it easily.

We just added a policy delivery specialist. He calls on your issued policies when they become issued with the policy in hand..emails delivery requirements, funds policies with drafting initial premium or utilizing credit cards. We went from issued to placed taking 2-3 weeks, to taking 2-3 days. Only being live for a month, our agents are raving.

Our reps are also incentivized to stay on the phone with your clients while they sign their application (e-apps), so there is no buyers remorse.

Jeff/Tyler/Scott, you all seeing better signature results in the past 60 days? And faster placement once issued with our new policy guy?

Give us some input so we know where our agents want us to invest our dollars....

Nic

-EZlife

 

[WinoBlues]

ezlifesales is a good one.

They dont offer an online app for every company but they do for most.
They are able to do an electronic signature for the app. But they do have to have a real signature for the delivery.

You do loose control of the exam scheduling and such, but their backroom does a good job usually. They also give you biweekly updates on the case status and an online dashboard showing the status.

The only thing that can get held up is the delivery paperwork since the client has to sign and mail back/email/fax back.
But if you just bring the delivery paperwork yourself, you can take care of it easily.

Do the policies come to you for delivery?

 

[STIBROKER]

Do the policies come to you for delivery?

nope....straight to the client......and with some company's policy and the whole 10 yards in a email.....just have to fill out and sign the bank draft form and fax back or scan and email......

 

[WinoBlues]

nope....straight to the client......and with some company's policy and the whole 10 yards in a email.....just have to fill out and sign the bank draft form and fax back or scan and email......

Sounds like a good system. I am a bit of a control freak though. I like to deal with delivery myself. I have specific pages I like to copy for the file.

I sure like the idea though. Especially of the smaller premium term on younger clients.