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Lincoln 2018 Year End Dates and Guidelines

Posted by LTCI Partners | Dec 10, 2018 2:33:16 PM

2018 End of Year Commitment and Guidelines
Underwriting & New Business
Lincoln’s Underwriting & New Business department is committed to helping you meet your year-end goals and objectives. Our focus is to ensure the maximum amount of your business is placed by close of business on December 31, 2018. To assist in placing year end business, we encourage you to submit outstanding requirements as early in December as possible.
Key Dates and Deadlines
Beginning October 1
Overnight Guidelines for 1035 proceeds: Beginning on 10/1/2018, any 1035 Exchange that has a target premium of $5K+ and/or expected 1035 proceeds of $7.5K+ will be requested to overnight the check to Lincoln Beginning October 1 – End of 2018
Lincoln will begin mailing all paper policy prints via overnight delivery through end of 2018 November 1
Submit end of year 1035 Exchange applications to allow for underwriting and retrieval of 1035 funds (subject to losing carrier turn-around times) November 22-23
Thanksgiving/Company Holiday December 3
Submit new applications, tickets and paperwork in-good-order by this date to allow enough time to underwrite and obtain documents to place for year-end closing (excludes 1035 Exchanges) December 21
All policies must be placed in-force to meet the 2018 commission deadline and be considered 2018 income December 25
Christmas/Company Holiday December 27
All premium(s) and delivery requirements must be received by Lincoln, in-good-order, to ensure placement of your policy December 31
Underwriting and New Business teams will work a full business day to support your business needs
Helpful Hints & Reminders
• Always include special instructions on a cover sheet.
• Complete application and applicable forms in their entirety and remember to include the agent’s page with agent code to be used for placement.
• Please use the latest state version of the application and forms that can be obtained on the Lincoln producer website.
• Remember to get signatures and dates on all forms. Trust/Corporate owned policies do require that the trustee/officer sign with their title.
• The Replacement Notice [Form 33503] must be signed on or before the application signature date. For LincXpress submissions, the Replacement Form must be signed on or before the earliest solicitation signature date.
• Include in-good-order EFT forms for all bank draft cases and note on the coversheet if the first premium will be drafted.
• Ordering medical requirements up-front saves significant processing time.
• Utilize Lincoln’s LincXpress Tele-App, eApp, and/or eDelivery to help expedite processing from submission to placement. (LincXpress Tele-App can be used for New Business submissions only – not applicable for Internal Exchanges).
• Suitability review for VUL can take time. Send all VUL forms through your OBD or LFSC rep for suitability review as soon as possible.
• 1035 Follow-Up Calls: Initial calls will be made 2 to 3 business days after exchange has been initiated. Follow-up calls will be made every 1 to 2 weeks (based on carrier) on initiated cases that are in-good-order.

Topics: Lincoln Financial, Linked Benefits

Written by LTCI Partners

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