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 13 - Reinstatements This module covers reinstatements, the process of reactivating a lapsed policy. It explains requirements for recent vs. older lapses, medical evaluations, fees, and potential denials due to health changes. It also considers when a new policy may be a better option. Learning Objectives Define reinstatement and its purpose in life insurance. Distinguish between the reinstatement process for recently lapsed and long-term lapsed policies. Understand the medical requirements for reinstating a lapsed policy. Explain potential reinstatement fees. Recognize when a new policy may be a better option than reinstating a lapsed policy. Understand the implications of internal replacements with regard to commission rates. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 12 - Rate Reductions or Reconsiderations This module covers rate reconsiderations, where insurers may lower premiums based on health or lifestyle improvements. It outlines the request process, including forms, medical reviews, and potential exams. It also addresses timelines, costs, and the possibility of rejection. Learning Objectives Define rate reconsideration/reduction and its purpose. Understand the process of requesting a rate reconsideration, including the necessary documentation. Describe the requirements for a rate reduction due to smoking cessation. Recognize that rate reconsiderations may be rejected. Identify potential costs associated with the rate reconsideration process. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 11 - Policy Loans This module covers policy loans, allowing policyholders to borrow against a policy’s cash value. It explains loan limits, interest rates, repayment options, tax implications, and their effect on the death benefit. It also highlights the importance of Inforce illustrations to assess loan impact on policy performance. Learning Objectives Define policy loans and their relationship to the cash value of permanent life insurance policies. Understand the terms of policy loans, including interest rates and loan limits. Describe the repayment options available for policy loans. Explain the tax considerations associated with policy loans. Recognize the impact of policy loans on the death benefit and life expectancy of a policy. Understand the risks associated with over-loan situations. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 10 - Collateral Assignments This module covers collateral assignments, using life insurance as loan security. It explains assigning a portion of the death benefit to a lender, processing forms, and managing multiple assignments. It also addresses lender priority, legal considerations, and releasing assignments when loans are repaid. Learning Objectives Define collateral assignment and its typical uses. Identify the roles of the assignor and assignee in a collateral assignment. Explain the process of completing and submitting a collateral assignment form. Understand the concept of multiple collateral assignments and lender priority. Describe the process for releasing a collateral assignment when a loan is satisfied. Recognize the importance of consulting with the carrier and legal counsel regarding collateral assignments. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more

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 8 - Billing Invoices This module explains how billing invoices are managed for life insurance policies, starting with the policy date and initial premium payment. It covers available payment modes and how clients can set up recurring payments. It also addresses the billing process for non-draft payments, the importance of maintaining an updated address, grace periods, and how payment receipts and notifications for failed drafts are handled. Learning Objectives Understand the billing process for life insurance policies, including the policy date and initial premium. Describe the different payment modes and how to set up recurring payments. Recognize the process for billing notices for non-draft payments. Understand the grace periods offered by carriers and the various notifications the carrier sends out. Explain how payment receipts are handled for EFT and check payments. Understand how a client can re-establish EFT after insufficient funds. COURSE CONTRIBUTORS Leah Mahoney – EVP - Operations  Diversified Brokerage Services, Inc. Kim Wilcox – Head of Wealth Management Specialists  Guardian Life Sandra Giordano – Manager, Shared Services Ash Brokerage Cheryl Visconti– Operations Manager Gallagher Alaina R. Winson – Operations Project Manager Diversified Brokerage Services, Inc.   Read more