QUALITY MANAGER TRAINING

Transcription

1 1. What is the goal for our quality numbers? A. DCN 6% or less B. 4-Month Persistency 93% or higher C. 13-Month Persistency 75% or higher I. Understanding Quality Business 2. All instructions, scripts, and resources are found on Agent Services in the Quality Business section. 3. Individual Business is sold in the home and paid through a checking account. 4. Worksite Business is sold on the job and paid through payroll deduction. 5. Renewals are paid beginning with the 13th month a customer pays their premium. 6. Answers to questions about compensation can be found in the Guide to Growth. 7. D stands for Decline: Which means the application never should have been submitted to the home office. 8. C stands for Cancellation: Which means the application was cancelled by the home office or the customer. 9. N stands for Not Taken: Which means the company never received any money. 10. Agents direct pay and bonus are impacted by DCN their first 7 months. 11. Persistency measures how long the customer keeps their policy. 12. Agents direct pay and bonus are impacted by Persistency starting month What day each month are updated Quality numbers published on the Quality Dashboard? 25th 14. List the ways writing quality business impacts Agent pay: A. Chargebacks B. Direct Pay Percentage C. Bonus D. Promotion E. Renewals 15. If two agents write $1425 per week for their first seven months, but one agent has a DCN of 8 and the other has a DCN of 18, how much more does the agent with a DCN of 8 make over seven months? $8, Liberty National Life Insurance Company. All rights reserved. LNL2768B 1113

2 II. Reviewing Applications in the Portal 1. When should applications be reviewed in the portal? First and last thing every day 2. What is the cutoff for applications to be uploaded from the portal to count for that week s reporting? 3:30 p.m. Central Monday 3. When is the cutoff for applications to be uploaded by Agents to the portal for review on Monday? Midnight Sunday 4. How long can an application remain on an Agent s laptop before it is automatically uploaded to the portal? 7 days 5. How long can an application remain in the portal before it is automatically uploaded to the Home Office? 10 days 6. What is the first thing a Quality Manager should do in the portal? Upload ADPs. 7. What does ADP stand for? $3,000 Accidental Death Policy 8. ADPs show an Annual Premium of $0. 9. Click on Related Apps to see all of the policies purchased by each Payor. III. Individual Applications 1. The key document for underwriting rules on individual applications is the Agents Instruction Guide. 2. The review of individual applications does not begin until the agent has turned in: A. What comes next form B. Voided check C. Oral Swab form (if necessary) 3. What does ADB stand for? Accidental Death Benefit. Beneficiary receives this benefit if insured dies by accident. 4. What does PW stand for? Premium Waiver. Company waives premiums if the person becomes disabled. 5. Quality Managers should have their App Approval Packet ready to review individual apps. 6. According to the Underwriting Requirements Chart, what are the requirements for a 65-year-old applying for $35,000 of coverage? Paramed Exam 7. According to the Build Chart, what would be the table rating for a person 5-10, 295 pounds? Table D 8. A Table D rating means the customer s premium will be at least double what the Agent quoted them. 9. According to the Medical History Guide, what generally happens to an application when the proposed insured has diabetes treated with insulin? ALX only if insulin dependent and no doctor consulted within last two years. 10. An application should be changed to Trial if the applicant is medically questionable. 11. If you see a medication or condition you are unfamiliar with Google it to learn more. 12. If a grandmother takes out coverage on her grandchild, who is the applicant and who is the proposed insured? Grandmother is the applicant. Grandchild is the proposed insured.

3 13. Starting out, never Trial or Cancel an application without consulting the Agency Owner. 14. Conduct Agency QAC calls on the applications where: A. The Agent has been appointed less than 90 days B. The Agent has a DCN worse than the company average C. Any app where the manager and agent cannot provide needed information to review the app 15. If an agent submits an application on himself/herself, spouse, mother, father, brother, sister, or child, an must be sent prior to upload from the portal to personalbusiness@libnat.com. 16. On the Authorization for Preauthorized Payments, be on the lookout for account numbers longer than 12 digits. And the draft date selected should be between the 1st and the 10th. IV. Worksite Applications 1. Quality Managers should have the employee roster and Worksite Management Information Report for each case when reviewing worksite apps. 2. An employee must have been employed full-time either six months or one year by the end of the enrollment period to be eligible for coverage. 3. The Worksite Management Information Report is report number AL915. It updates on Saturdays. 4. To find out what product a Plan Code stands for, use the Plan Code Cheat Sheet. 5. To find out about policy limits for a product, use the Marketplace Bulletin. 6. Worksite applications should use a home or cell number, not a work number. 7. The only question on Group Term that can be answered Yes and a Group Term policy be issued is No. 9. The agent should provide the reason for the yes answer. It must be a yes answer for high blood pressure and the last reading must be under 140/ The other question on Worksite apps that can lead to a Cancellation is the Medicaid question. V. COD Tracking 1. When a COD arrives at the office, Quality Managers should log it into the tracker and make a copy. 2. Agents have 14 days from the time a COD is assigned to get it placed. VI. Worksite Case Tracking 1. Guidelines for ineligible industries, approval-required industries, and employee eligibility are found in the Worksite Agent Guide. 2. A re-enrollment is the second and subsequent time a worksite is enrolled.

4 3. The key areas to review on Worksite Approval Packets are: A. Must have signed roster B. Contact information, including C. Payment Mode D. Enrollment, deduction and effective dates 4. What are the three periods of worksite? A. Enrollment B. Deduction C. Effective 5. On new cases, if it starts good, it stays good. If it starts bad, it stays bad. 6. What are the three verification calls that must happen on every new Worksite Case? When do they happen? A. Verify Payroll Deduction Authorizations Delivered: Last week of enrollment period B. Verify Deductions Started: First week of deduction period C. Verify First Bill Received: Second week of effective period 7. New cases that have not paid their first premium can be found on report PD01 Franchise Initial Premium Unpaid. This report updates every weekday. Cases stay on this report until they pay their first bill or they reach 60 days past due and become not takens. 8. At 60 days past due, employer and employees receive a letter informing them their coverage is no longer in force. 9. Existing Cases should be contacted the third week they are past due, after the 15th of the month. 10. The list of policyholders transferred from Payroll Deduction is published on the Saturday SAMs message. 11. The company will waive up to 2 months premium when moving a policyholder s payment from payroll deduction to bank draft. But the company will only waive premiums that have been missed. Policies must be less than 91 days past due to be eligible. 12. The employer must have made at least one payment for Group Term policies to be eligible to be transferred to bank draft. Vision and Dental cannot be transferred to bank draft. VII. Tracking Lost Business 1. The Lost Business Tracker should be completed Tuesday morning. 2. The goal of tracking lost business is to: A. Fix it B. If we can t fix it, learn from it.

5 VIII. SAMs/Reports 1. SAMs are ed to the Agency every day. They are a snapshot of everything that happened in the Agency the previous day, ending at 3:30 p.m. Central. 2. Reports are a summary of all outstanding items. They are found on Agent Services by clicking Field Reports. 3. A250 applications go to an underwriter. Batch applications go through a computer. 4. Key Reports: A. OI125 LNL New Business Status Report: Updated Tuesdays B. BI925 Batch Pending: Updated Daily C. BI925 Batch Pending Worksite: Updated Tuesdays D. OI525 CODs by Days Pending: Updated Fridays 1. Standard Reinstatements should be mailed to: Liberty National Premium Accounting P.O. Box Oklahoma City, OK IX. Reinstatements 2. A life insurance policy of $50,000 or less requires a reinstatement application if it has been lapsed more than 120 days. 3. A life insurance policy of $50,001 or more requires a reinstatement application if it has been lapsed more than 60 days. 4. A health policy requires a reinstatement application if it has been lapsed 91 days or more, and cannot be reinstated if it has been lapsed more than six months. 5. Cash Cancer policies cannot be reinstated. 6. Reinstatement Bonus paperwork should be mailed with the Reinstatement Transmittal to: Liberty National Attn: Amber Dunlap 100 Concourse Parkway, Suite 350 Hoover, AL Reinstating Agent receives bonus of 25% of Annual Premium on life applications and 15% of Annual Premium on health applications. 8. To qualify for a bonus, a reinstatement must include: A. Reinstatement Request Form B. Check for all back premiums plus the current month C. Authorization for Preauthorized Payments D. Reinstatement application (if necessary)

6 X. Miscellaneous 1. In the Quality Manager s Drawer, there should be the following folders: A. What Comes Next forms B. Pending Worksite Approval C. Approved Worksite Rosters 12 months D. CODs 5 weeks 2. Contact Customer Service at or custserv@libnat.com for most issues. 3. Contact the Worksite Department at worksite@libnat.com 4. Contact Agency Support for Tech Support at agencysupport@libnat.com or use LogMeIn on Agent Services.