December 6, 2024
Faster Annuity Application Processing with Instant Suitability
Starting December 7 for annuity applications.
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.
If suitability is approved
Message in eApp:
Message in eApp:
“Congratulations! Suitability has been approved. Your Case Manager will reach out if anything additional is needed to issue the policy.”
If suitability needs additional review
Message in eApp:
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.
*Applications on FireLight will not change.
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
