Inforce Certification - Module 9: Inforce Changes

The Inforce Certification provides a comprehensive understanding of the key aspects of life insurance policies once they are in force. This certification covers a range of topics related to policy services, technology, billing, changes, loans, and more. Participants will gain knowledge of how to manage policies post-issue, including understanding policy updates, billing processes, and critical policy changes. The course also includes guidance on the use of technology, such as online portals and software products, and addresses specific policy-related actions like reinstatements, conversions, and surrenders. It will also explore the financial implications of policy loans, collateral assignments, and premium financing. This certification is essential for those involved in life insurance policy administration and advisory services.

Module Overview:

Module 9 - Inforce Changes

This module reviews various policy changes that can be made once a policy is in force and how changes can be requested or managed.

Learning Objectives

• Understand the types of policy changes that can be made after a policy is Inforce.

• Describe the different methods for making policy change requests.

• Identify the requirements for submitting policy change forms.

• Explain the process for completing various policy related changes.

• Understand the implications of ownership changes and broker/agent of record changes.

• Describe the process for making changes to EFT, premium mode, allocations and sweep date.

COURSE CONTRIBUTORS