Lincoln has received many inquiries regarding the Electronic Funds Transfer (EFT) Authorization Form [CS06711], particularly regarding what fields are required and why. To provide clarity, Lincoln discusses the requirements and legalities behind two important EFT fields—Premium Amount and Premium Mode—in the Lincoln Leader newsletter.
Forms 33503WA and LF10087WA now include a new “Explain” field for Question 6 as well as fields for an additional Applicant/Owner signature, if needed. There is a 30-day transition period starting Aug. 14, 2023, in which either the old or new form will be accepted.
4506C Tax Return Form has also been updated. The form now has Section 5d pre-populated with the following information: “The Lincoln National Life Ins Co.” Lincoln will now work directly with the National Credit Service for tax return orders.
Starting Aug. 14, 2023, Lincoln MoneyGuard® Auto Follow-up emails will receive multiple enhancements to ensure timely, accurate and actionable case status updates throughout the application process. All case contacts will benefit from a refreshed Auto Follow-up process which features updated verbiage, newly added follow-ups throughout the policy’s lifecycle, and the removal of auto follow-ups that are no longer applicable to the MoneyGuard process.
As Lincoln Financial continues to reinforce New York (NY) Situs measures, a disclosure will be added to the Delivery Notice on all Term Products and the illustration for Permanent Products. The Out of State Sale Verification Form is also no longer required on Informal Trial submissions for a New York resident with a non-NY product. Lincoln will also no longer accept lab draws in New York as the exam (vitals) must be conducted outside of NY and are generally completed at the time of the lab draw.
Starting Aug. 14, 2023, the latest unified life insurance application package will be available for use in Massachusetts (MA). With this new application comes two firsts for MA: Real-Time Offer opportunities for eligible clients, and the ability to sell Lincoln WealthAccelerate® IUL.
Beginning Aug. 14, 2023, Lincoln will offer individual life insurance policyholders the ability to modify their primary and contingent beneficiaries online. This feature is exclusively designed for consumers who have a registered account on LincolnFinancial.com, and enables hassle-free beneficiary updates.
Beginning Aug. 14, 2023, Lincoln’s Underwriting team is pleased to offer new opportunities within the foreign national market. The updates include allowing a Limited Power of Attorney to sign the Good Health Statement, expanding travel abroad criteria for U.S. Citizens or Green Card holders, and routine inspection reports no longer being required.
Mutual of Omaha has announced a 5% bonus for LTC sales for a limited time. Applications must be submitted between Aug. 1 and Oct. 31, 2023, to be eligible, and policies must be placed by Nov. 15, 2023. To qualify, producers must achieve a minimum ANBP of $25,000 and a 65% placement rate. The cash award will be paid out on your regular commission statement, and all normal exclusions apply.
Starting Aug. 7, 2023, existing Mutual of Omaha policyholders will be able to sign up for Automatic Bill Pay for all modes (monthly, quarterly, semi-annually, or annually). For policies issued between 1987 and 2003, policyholders can log in to Customer Access and complete their billing mode change under the “Billing” tab, or they can call customer service at (877) 845-0872. For policies issued in 2004 and later, policyholders can complete and return the Benefit Change Request Form and EFT Authorization along with a voided check, or they can call customer service at (800) 921-9334.
Effective July 26, 2023, the joint option on OneAmerica Asset Care will include the 4% acceleration option. The addition of a 75-month shared benefit pool (not currently available in California) expands OneAmerica’s ability to provide meaningful and flexible benefit options for cost-conscious clients, and the unique lifetime benefit will now be more affordable in many situations.
Agent Advantage is an exclusive program for all active agents from The Krause Agency. To see if you qualify, complete the short application form below and a member of our team will provide you the necessary enrollment paperwork. If you have any questions about the program or this form, please contact our office directly at (800) 255-1932.
