What s New in the World of Foreign. Index

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1 April 16, 2018 Vol. 16, Issue 05 LIFE INSURANCE What s New in the World of Foreign Nationals? NEW! Tools to help you submit Foreign National business with success Foreign National Pre submission Worksheet. Found in the Forms tool. Form ID: LF11386 o This new business form is one page front and back. Use it before you even schedule the client meeting, to determine if Lincoln is a good match for your client. Foreign National Case Submission Guide. Marketing piece. Found on LFD.com: o Whether you are new to the foreign national market or whether you want to know about best practices for submitting business at Lincoln, this digital piece takes you through the case submission process step by step. Index What s New in the World of Foreign Nationals? Lincoln Among First in the Industry to Offer Chat Customer Service Capabilities Self Service Illustrations Support Center Dedicated Assistance for Running Self Service Illustrations NEW! Updates to Lincoln s Foreign National Guidelines Nexus requirements. Many of you know that one of the most important elements of a great Lincoln foreign national case is a close financial connection to the U.S. called nexus. We have recently expanded our definition of nexus, so that more of your clients will qualify. Here is the full list: o Client must have spent at least 15 days in the last 12 months in the U.S., AND o ONE of the following must apply to your client: Owns U.S. property Has a U.S. bank or brokerage account ($100k balance net of first annual premium, and open for at least 6 months) Is the owner of a foreign company and comes to the U.S. to transact business Has his/her primary employment in the U.S. Is renting in the U.S. (lease of at least a year) and spending significant time in the U.S. Is a full time college student in the U.S. A NEW Look and Mobile Friendly Pending Case Website MoneyGuard Long Term Care Claims Update Lincoln MoneyGuard New Policy Dating and Premium Effective Date Rules REPRINT The Advanced Markets Resource Center (AMRC) is now available! Coverage for a spouse who doesn t have a nexus. o If Lincoln is able to place coverage on your non citizen client, we can look at his/her spouse (concurrently or within 6 months) even if that spouse does not have a nexus or financial justification. The limit is the amount of Lincoln coverage on the spouse up to $10 million. For Agent/Broker use only. Not for use with the public. Page 1 of 8

2 NEW! Resources to help you prospect and grow your Foreign National business Resources designed for agent/broker: o Last section of Lincoln s Life Insurance Playbook is dedicated to foreign national business, including two case studies, reflecting actual Lincoln cases o Infographic, which outlines the global opportunity and connects you with Lincoln s foreign national team. LIF FN FLI002 Resources for your client meeting: o Why Lincoln? This piece introduces Lincoln s values and financial strength to your clients. LIF FN FLI003 Stay tuned for new marketing throughout the year, including s, videos, translated client guides, and more! Don t forget that Lincoln offers: policy acceptance via limited power of attorney, best rate class in all of its 90+ approved countries, all permanent products (including GUL and VUL*), and the ability to use a foreign address on the application. We also translate medical records from Spanish to English free of charge on formal cases. And, there are no special foreign national requirements regarding face amount or net worth. Please contact your dedicated Lincoln life insurance wholesaler or Lincoln s Foreign National Insurance Consultant to start building your foreign national business with the power of Lincoln! Lincoln Among First in the Industry to Offer Chat Customer Service Capabilities Lincoln is one of the first life insurance carriers to offer online chat, to better serve customers directly from our public website, (LFG.com). The service gives customers a wider choice in how they interact with Lincoln based on their preference, and ultimately enhances the customer experience. Lincoln s webchat capabilities include a chatbot, or an artificial intelligence program, called Ask Abe that can provide instructions for general inquiries, such as how to change a beneficiary or obtain a copy of a policy. Policyholders and agents can interact with Abe 24 hours a day, 7 days a week without the need to log into an account. Abe offers users the option to transfer to a live representative during normal business hours upon request, or if the topic is too complex or contains emotional content best suited for a person. Lincoln also offers policyholders a secure chat option allowing them to interact with a live representative after logging into their personal account for policy specific information and transactions. Through secure chat, policyholders can execute all the same policy changes as if they called the Lincoln Care Center by phone, such as changing coverage. The chat feature can be accessed by going to and clicking on the Contacts, Forms & Claims link at the top of the page and then selecting Life Insurance. For Agent/Broker use only. Not for use with the public. Page 2 of 8

3 Self Service Illustrations Support Center Dedicated Assistance for Running Self Service Illustrations The Life Customer Service Illustrations Team is proud to announce a new support center to help our partners through self service in force illustrations. Effective April 23, 2018, we will have a dedicated 800# and a dedicated address to help answer questions about navigating through our self service illustrations platforms (DesignIt, LIP, LP Plus). Dedicated address for self service illustration questions: DIYInforceIllustration@lfg.com Dedicated 800# for assistance running self service illustrations: (833) Hours of Operations Monday Friday, 8am 5pm (EST), Closed for lunch (12pm 1pm, EST) This is applicable if you plan to utilize our self service platforms to generate your own in force illustration. Please note, this support center will not take illustration requests or handle any other inquiries outside of selfservice illustrations. Illustrations Awareness Campaign Beginning last month (March, 2018), Lincoln s Life Customer Service department began promoting topics and training material for Self Service In force Illustrations. Each month over the course of 2018, we will highlight different tools, resources and best practices to help improve the opportunity for generating a successful Self Service In force Illustration through our Lincoln Leader publication. The campaign and topics selected were developed based on survey feedback we received from many of our valued distribution partners. Reminder: Not all Partners have access to run in force illustrations. If you do not have access to run a selfservice in force illustration, please follow normal procedures for requesting an illustration through the same channels as currently being used. Self Service Illustration Benefits Save Time Producing your own illustrations saves time by allowing you access to illustrations when you need it Support Center Contact the Life Customer Service Illustrations Self Service Support team for guidance through self service illustrations Resources at Your Fingertips Frequently Asked Questions available via the self service illustrations platforms. Webinars to run selfservice illustrations. Increased Confidence Utilizing the selfservice support center along with other resources can help improve your confidence in producing illustrations Post Issue Policy Management Automated point intime illustrations produced each anniversary year for most currently sold products For Agent/Broker use only. Not for use with the public. Page 3 of 8

4 A NEW Look and Mobile Friendly Pending Case Website Lincoln is pleased to introduce a new, fresh look to the Life and Annuity pending case status website and it s now mobile friendly! Producers will continue to access the pending case website the same way they do today, through the Lincoln producer website, and will experience the same functionality. The refreshed site will feature a new font and color schematic, and will enable additional enhanced capabilities in the future. Access the Pending Website from Lincoln s Producer Websites The Pending Website will open into a new tab within your browser The Pending Site New Look For Agent/Broker use only. Not for use with the public. Page 4 of 8

5 And, the Pending Case Website is now mobile friendly. Additionally, the Tele interview Status (as part of Pending/Outstanding Requirements) has been added to PDF and Excel Export pages. MoneyGuard Long Term Care Claims Update Lincoln is committed to continually improve the Long Term Care Claims process. In 2018, we will implement several new features and enhancements that will provide a more efficient, customer focused experience. As part of our efforts, in April, we rolled out the first phase of a redesign of the lfg.com Long Term Care Claims webpages. The upgraded webpages now include: A Long Term Care Claims Learning Center, which has a Claim Process Overview and FAQs An updated Long Term Care claim notification portal called i Claim. i Claim is the name for our streamlined web based claim initiation process where customers can notify us of a claim in minutes. The new look and feel can be found under the Start a Claim section of the Long Term Care webpage (click on the last tab on this link): Later this year we will complete a more comprehensive update of the Claims page, which will include educational videos and links, and a build out of the i Claim section to allow for e signature. Also in April, we started a survey of recently approved claimants to understand their claims experience and identify opportunities for improvement. This information will be an important input to our ongoing strategy. Look out for communication on additional improvements throughout the remainder of the year. If you have any questions about the above information, please contact the Claims and Beneficiary Care Department: Cyndi Ehret, Director at (336) or Cynthia.Ehret@lfg.com or Dana Venable, LTC Manager at (336) or Dana.Venable@lfg.com. For Agent/Broker use only. Not for use with the public. Page 5 of 8

6 Lincoln MoneyGuard New Policy Dating and Premium Effective Date Rules Reprinted from the March 26, 2018 Lincoln Life Leader. Effective April 16, 2018, New Business is changing the rules for policy dating and premium effective dates. The new dating rules will follow an In Good Order process. When all requirements, including premium, are deemed In Good Order fully completed, signed and dated the policy and premium effective date will be current dated. The change is being implemented to bring our internal procedures in line with industry standards and best practices and will bring Lincoln s MoneyGuard business in line with Lincoln s Life and Annuity business. The existing process of dating policies on the date that the first check is received at Lincoln is often challenging to explain concisely and difficult for our customers to understand. It causes the backdating of policy dates and premium effective dates and can appear to be scenario driven and inconsistent. Due to unique dating rules found in the term conversion and internal replacement guidelines, this does not apply to conversions or internal exchanges. Please review the new procedures below and do not hesitate to contact your Underwriting and New Business team with any questions. Assumption New Rules Old Rules No age change and No policy backdating Clients age changed between submission and placement Backdating 1 month to save age (no change) Policy Date: brought current at placement to the date Lincoln confirms all requirements, including premium, are in good order. Premium: Money is applied as of the Policy Date. Policy Date: 1 day before client s birthday. Premium: Money is applied as of the Policy Date. Policy backdating up to 1 month to save age and illustrated on the Projection of Values. Policy Date: 1 day before client s birthday. - Policy date will not be changed at issue or placement. Premium: Money is applied 1 month after the policy effective date (or date money received, if earlier). Policy Date: date that the first check (1035 and/or CWA) was received at Lincoln. - If multiple checks were received, the policy date would have been the date the first check was received, even after the case was in an Approved status. Policy Date: brought as current as possible without changing age, if: - The policy was issued without premium - The initial premium was to be received via an EFT draft proceeds were received after issue Policy backdating up to 1 month to save age and illustrated on the Projection of Values. Policy Date: 1 day before client s birthday. - Policy date will not be changed at issue or placement. Premium: Money is applied 1 month after the policy effective date (or date money received, if earlier). For Agent/Broker use only. Not for use with the public. Page 6 of 8

7 The Advanced Markets Resource Center (AMRC) is now available! The Advanced Markets Resource Center provides easy access to a suite of sales tools that includes comprehensive reference material, and client presentations on: Business Insurance, Retirement Planning, Estate Planning, Charitable Planning and Taxation. It offers the ability to quickly reference practical information and create conceptual presentations, on a wide variety of advanced market topics. Accessible through the following locations: Winflex Lincoln DesignIt SM LFD.com Lincoln Solutions Center Key features include: Sales Presentations over 60 advanced marketing presentations to quickly view on screen, attach to an , or print for a meeting with a client Case Studies compelling client approved pieces that add context to advanced planning solutions One Pagers present complex topics in a concise format; compatible with smartphones and tablets Business Resource Center a module that packages business insurance material in one place, including, presentations, one pagers, a fact finder, and training material Calculators over 50 calculators to quickly address frequent financial questions epocket Tax Tables access to current tax tables and figures in a convenient pdf format Reference Material provides clear explanations of complex subjects including state specific information; compatible with smartphones and tablets For Agent/Broker use only. Not for use with the public. Page 7 of 8

8 State Approvals Lincoln LifeElements Level Term (2017) 03/12/18 o Arkansas o Maryland o Missouri o Washington View State Availability Grids 2018 Lincoln National Corporation LincolnFinancial.com Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations LCN: Products and features subject to state availability. Guarantees are subject to the financial strength of the insurer. Lincoln Financial Group is the marketing name for The Lincoln National Corporation and its affiliates. Insurance policies are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN. The Lincoln National Life Insurance Company (Lincoln) does not solicit business in the state of New York, nor is it authorized to do so. Contractual obligations are subject to the claimspaying ability of The Lincoln National Life Insurance Company. Insurance policies sold in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY. The contractual obligations are subject to the claims paying ability of Lincoln Life & Annuity Company of New York (Lincoln). All guarantees and benefits of the insurance policy are subject to the claims paying ability of the issuing insurance company. They are not backed by the broker dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims paying ability of the issuer. Variable products are sold by prospectus. For more information about the variable products, including fees and charges, refer to the prospectus. Variable products are distributed by Lincoln Financial Distributors and offered through broker dealers with effective selling agreements. Only registered representatives can sell variable products. View index of past Lincoln Life Leader articles For Agent/Broker use only. Not for use with the public. Page 8 of 8