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Changes to keep
PlanRight strong in the marketplace
Your recruiting efforts have made Foresters PlanRight an outstanding sales
success. It's a favorite ForestersTM product and Foresters is
solidly committed to the final expense marketplace.
We are introducing a number of changes on July 30, 2012, designed to keep
PlanRight strong and competitive in the marketplace:
Revised rates
- PlanRight will remain a competitively-priced product (Click here for
comparison) and we will continue to offer eligibility decisions at
point-of-sale.
- Revised rates apply to new business
written (with Personal Health Interview conducted) on or after July
30, 2012
- Click here for the New rates
- Updated commission schedules will be sent to producers the week
of July 16. Contact your manager if you require more information.
State approvals
- New states where we will now have Graded and Modified, where we
didn't before:
- Massachusetts, Minnesota, Missouri,
North Carolina, West Virginia
- New state where we will have Modified:
- Click here for state availability
and state variations
New and improved
application
- New application is now 3 pages long
- New separate stand alone Notices form
- Reduced verbiage makes this section much shorter
- New separate and stand alone Payment Information Form
for ease of use
- Improved question readability and comprehension
- Revised various conditions on the application to achieve
pricing assumptions by plan type
- Much shorter "Authorization"
section
- Introducing a Build Chart to
determine plan eligibility (varies by plan type)
- Removed the Money Order payment
option because we don't support that method of payment
- Click here for the new application
and the new build chart
Voice Signature
- New separate
stand alone Voice Signature on PlanRight application
designed for shorter call times
- Much shorter "Insurance Applied For" section
- "Owner" section has been removed
- "Acknowledgment of 1st premium" section has been
removed
- "Notices" section is now much shorter (also applies
to paper version)
- Language has been modified to be more listener-friendly
- The new LiveApp allows you to potentially bypass recordings, reducing call times
and providing your client with a faster decision
- 4 new VSOP states
- Connecticut, Delaware, Idaho
and Iowa
Transition
- First producer communication (similar to this communication) to
go out next week
- Weekly communications will go out through July to invite
producers to new application training webinars and to inform them of
the important transition dates
- July 13, 2012
will be the cut-off date for all orders of old application stock
- Week of July 16, 2012 is
when producers can begin to order new application stock
- The Personal Health Interview conducted by Apptical and the
paper application completed by the proposed insured must be the same
- The new application cannot be used prior to July 30, 2012
The existing application cannot be used after July 29, 2012
- Applications written prior to July 30, 2012 with PHIs conducted
prior to July 30, 2012 will be accepted at home office until August 9, 2012
We have prepared a
webinar that you can access with this
link that we believe can help you further understand these changes.
Through this all, we are confident you will continue to see PlanRight as an
attractive offering in the final expense marketplace.
If you have any questions, please call Foresters Sales Support at 866 466
7166 (option 1).
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