July News
Life Settlements Through LexNet!
Have you called us yet for more information on LexNet? Upstate Special Risk Services now represents LexNet, the online auction marketplace for the sale of life insurance policies. This revolutionary system will change the way life settlements are handled. By providing efficiency, compliance and transparency, you can be assured of the very best results for your clients. Want to know more? Then contact Andy Kalinowski at 800-828-4415 ext. 3001, or send him an e-mail.
Doing Business with ING
We are sorry to say that our ability to work with ING at this time is quite challenging. Their prices are beating the competition on term, but getting a policy issued is quite another story. Currently, the word from ING is that there is an 18 day turn-around time upon receipt of a new application or additional requirements. This has translated to an average approval time of three months or more. While we believe that these issues will eventually be resolved, for the time being, we want you to be aware that if you do decide to submit an ING application, you can expect the time frame to be two to three times the length of virtually all of our other carriers. We are monitoring this situation closely, so if you are thinking of writing an ING application, give us a call at 800-828-4415 for the latest status on their processing times.
IMPORTANT CHANGES to AML Training!!
While the LIMRA rules have not changed, some of our carriers are now requiring additional training to maintain your license with these carriers. Right now, Companion and United of Omaha are requiring this. The training is simple and short, but you should be aware that it may be necessary to do this update. It appears that even if you have proven training, you will need to provide additional proof that you have done the training update as well.
If you have not completed either the initial training or the training update, you can click here for access to the program. The insurance carriers are notified that you have done it within 48 hours of completion.
If you have completed your initial or updated training elsewhere, please fax your certificate to 585-273-8540, attn: Stephanie Kalinowski. Taking these measures now can save you the trouble of having commissions held or having to get re-appointed. If you have any questions or need assistance, please contact Stephanie at 800-828-4415 ext. 3009
Are you looking for E&O Insurance? Through our membership with NAILBA, we are able to offer a discount on E&O insurance. For details about this program, click here. In order to get the discount, use the code NAILBA05 when prompted.
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