Electronic Applications Are Becoming Mandatory
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We all knew it would eventually happen. Carriers are going to start requiring annuity applications to be done via the online application process. Here is a message we received last week from Global Atlantic Life…
Effective December 30, 2024, Global Atlantic will begin transitioning to only accepting electronic applications for Fixed Index Annuities.
To help minimize business disruption, we will continue to accept paper applications for Fixed Index Annuities until March 31, 2025. During that time, we’ll remind those who submit paper applications about the change. Paper applications submitted starting March 31 will need to be resubmitted electronically.
As inconvenient as this may be, it is going to be a good thing for several reasons.
- You’re assured of completing only the required forms and questions.
- Accidental mistakes are eliminated—or greatly reduced—because the online system tells you if you make a mistake or forget to fill in required information
- Applications are instantaneously submitted, so no more faxing, scanning, or mailing!
- Transfer information—like addresses, department, and phone numbers, etc., are already in the online system
- Applications begin processing immediately
- No opportunity for using an outdated form
- No risk of internal mistakes—like; routing the paper forms to the wrong department, or a processor misplacing a form
- You will have immediate access to forms and information about your in-process business
- You won’t have to figure out how to use forms from a company you haven’t worked with before, because 90% of the carriers use the same online application system
- We will be able to help even more with getting your cases processed, because we can login and see all the information entered in the application—so, if something needs fixing, we don’t have to call you to get a copy of the application forms, and you don’t have to fax, scan, email, or mail them to us
- Time saving—up to 80% faster than paper forms
- And, most important of all…you will get paid 20% to 75% faster!!!!!
We are certain more carriers will be moving to 100% electronic applications very soon, and we will be here to help you. We can help you get logged in, answer questions, and even get on a Zoom or screenshare and help you do the application. Nothing to worry about.
New 2025 C.E. Classes Required by July 1st!
Three new courses are required for any advisers licensed to sell annuities and life insurance—even if you have already done all the continuing education training previously required. Both an 8-hour and 4-hour class for annuities, and a 4-hour class for life insurance. No later than July 1st, 2025. As always, TWH is happy to help you get access to the courses, and we will cover the cost. Just call Ami at 800-200-9195 ext.203, or email info@twhagency.com.
Call us for more. We can grow your sales:
800-200-9194
info@twhagency.com
~ Greg Skogsberg
Click here for a short video about this month's issue
We now have annuity contracts with FORTY-ONE carriers. More than any other FMO! And this is just one of the reasons we are The #1 Concierge FMO in America!
Gregory B. Skogsberg
Greg is the President of TWH Agency with 20+ years of professional experience. Greg is a seasoned management consultant who has worked for organizations of all sizes in locations all across the country.
