Year End Deadlines | Global Pacific Financial Services

Year End Deadlines

Submitted by Josh on November 15, 2013 - 11:34am

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Insurance: Year-end deadlines for your business

It’s time to mark your calendar with those important year-end deadlines for your individual insurance life and living benefits business.

New Business

	Deadline to submit
New application with all UW requirements or final requirement	November 30
Last settling requirement for issued cases pending settlement	December 14
Year-end sales credit deadline	December 31

Inforce Policies

“In good order” policy changes or final UW requirement	Deadline to submit
Complex policy changes	November 26
Cases requiring underwriting	November 26
Conversions	November 30
Commissionable cases not requiring underwriting	December 10

What we’re doing to help

We will follow up with physicians about Attending Physician’s Statements (APS) in mid-November to try to have everything we need by November 30.
We’re targeting life applications with face amounts of $1 million and up and $25,000 in premium; and critical illness applications of $250,000 and up and $10,000 in premium.
We will offer physicians an incentive for expediting new or outstanding APS orders.
New Business and Underwriting staff in all locations will do an overtime blitz in mid-November and mid-December to finalize as much business as possible.
After the deadlines, we’ll continue to do our best to process your business to qualify for 2013.