Telemarketing, Underwriting and Phone Tree

Telemarketing calls are prohibited in the following states on Monday, September 4 for Labor Day.

  • Alabama
  • Louisiana
  • Mississippi
  • Rhode Island
  • Utah

Please contact Kathy Ruel at 888.297.3990, ext. 3158, if you have any questions.

 

Exam Requirements

In the spirit of simplifying our underwriting guidelines, and with the introduction of EZ Underwriting, we will no longer have two different types of exams, the mini-exam and paramedical exam.  We have found that the confusion created with our customers was not worth any perceived benefit from having both.  Moving forward, we will only be using the paramedical exam when an exam is required either for age/amount requirements or when ordered for cause.

This change should make requesting exam requirements less confusing for agencies and agents.

MVR’s

We are changing our ages for Motor Vehicle Records (MVR) from age 14 to age 16 and above.

 

We’ve re-organized our phone trees to better align our customer facing teams at National Life Group.

This change of phone prompts will reduce confusion and get our customers to the right place faster!  This will also help us move to reduce our toll-free options to 1 number.

Our two most used numbers 800-732-8939 (Contact Center) and 800-906-3310 (Sales Desk) now have the same phone prompts.

Both entry points can service all options.

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NOTICE: 5498s to IRA Customers

IRS Reporting Form 5498 “Individual Retirement Information” is used to report IRA contributions and other information. National Life sends 5498 statements to IRA customers during the month of May in accordance with IRS Regulations.

Customers should file this statement with their permanent records.

National Life is required to report the following information:

  • Contributions made for the filing year
  • Rollover contributions made in that filing calendar year
  • Roth conversion amount
  • Fair Market Value as of December 31st of that filing year
  • Taxable Term Cost for Endowment Annuities
  • Simplified Employee Pension (SEP), SIMPLE IRA (SIM), Roth IRA (RTH), and Recharacterization (RECHAR) indicators
  • SEP, SIMPLE and ROTH CONTRIBUTIONS

*When advised of a late IRA deposit, National Life is required to report new data for qualifying individuals who serve in designated combat zones. These special IRA customers have an additional period after the normal contribution due date of April 15 to make IRA contributions for a prior year. The period is the time the individual was in the designated zone or area plus at least 180 days.   The individual must designate the IRA contribution for a prior year to claim it as a deduction on their income tax return. If you have any customers who could possibly fall into this special reporting class, it is important that National Life be advised when the late contribution is sent in.

If a customer has not made a regular or rollover contribution in that filing year to their IRA, SEP, SIMPLE, or ROTH, they will not receive a hard copy of Form 5498. However, the IRS will be provided with the 12/31 values for all IRA’s.

To assist us in crediting future contributions properly, please encourage customers to clearly indicate on their check or accompanying bill, the year for which the contribution is being made. Unless instructed otherwise, we will assume a contribution is for the year in which it is received.

Should you become aware of a customer who should have received a Form 5498 but did not, please advise Maryse Lamson (802) 229-3663 as soon as possible.

Click here for sample IRS 5498 form.

 

TC95572

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