November 19, 2024
Annuities Issued Faster with Tap To Sign & Instant Suitability
Getting your annuity business across the finish line is becoming easier.
Starting December 7, you will see these eApp changes:
New setup for suitability questions
- Drop-downs replace free-form answers.
- Follow-up questions help clarify information.
- Users will be alerted when an answer may be a typo.
Applications that do not require suitability will not have the suitability questions appear.
Suitability approval can be instant or need further review
- Agents will see a message indicating approval or further review.
Message in eApp:
“Congratulations! Suitability has been approved. Your Case Manager will reach out if anything additional is needed to issue the policy.”
Message in eApp:
“Thank you for providing the requested information for your annuity application. Once the application has been submitted, please allow 2-3 business days for Suitability Review to be completed. Your Case Manager will reach out if anything additional is needed.”
- For e-Apps completed and locked before 12/07/24: These applications will process through New Business using the current suitability form.
- For e-Apps started but not locked by 12/07/24: These applications will require the new suitability-style questions, even if suitability questions have already been answered. You’ll need to re-answer the suitability questions to comply with
the new format.
New suitability paper forms
- Checkboxes with answers replace free-form answers.
- Use of ranges means questions are less invasive.
- Old suitability paper forms will be accepted till January 31, 2025.
Current
New
Tap To Sign
Starting December 7, you will be able to send clients a text with an eApp signature link for annuity applications. You will still have the option to send the link by email.
- Tap To Sign requires a U.S. phone number.
- As an agent, you can select different signature methods for different signers. For example, the insured could get the link via text and the annuity owner via email.
- If needed, you can resend the Tap To Sign link.
- The text will come from 844-407-4810. Let your client know to expect it.
- Your client may need to turn off their pop-up blocker to sign the application.
