2020 Life Insurance Year-End Submission and Placement Guidelines
Individual Life, Executive Benefits and Lincoln MoneyGuard®
Lincoln’s Underwriting & New Business department is committed to helping you meet your year-end goals. To ensure a consistent experience, a December 18 placement deadline for 2020 life insurance business will be implemented, including Executive Benefits and Lincoln MoneyGuard®. Any final requirements received after this date will be handled on a first-in basis and those cases are not guaranteed for placement in 2020.
We encourage you to submit any outstanding requirements for year-end cases as soon as possible. The following guidelines and key dates should be followed to help ensure your case(s) are prioritized for placement in 2020.
Key Dates and Deadlines
| October 1 – December 11 | Incoming 1035 exchange overnight mailing. For any incoming 1035 exchange, the surrendering carrier will be requested to overnight the check to Lincoln. |
| November 2 | 1035 exchange submission deadline. Submit 1035 exchange applications and/or tickets to allow for underwriting and retrieval of 1035 funds. Lincoln will leverage electronic methods to submit 1035 paperwork to surrendering carriers, when available. |
| November 9 | Pending 1035 exchanges must be initiated. The surrendering carrier will be requested to overnight the check to Lincoln. Completion of the 1035 exchange is subject to losing carrier turn-around times. |
| November 24 | AG49-A Indexed Universal Life (IUL) application submission deadline. Formal applications or tickets (with all solicitation forms) that are signed, dated and received by Lincoln’s home office in-good-order on or before November 24, 2020, will not be subject to the illustration guideline changes. Any IUL application/ticket received on or after November 25, 2020, will be subject to the new AG49-A illustration guideline changes. |
| November 26-27 | Thanksgiving / Company Holiday |
| December 18 | 2020 BUSINESS – PLACEMENT DEADLINE All cases must be in-good-order and placed inforce with premium by December 18 to be guaranteed for 2020 business. |
| December 21-31 | Underwriting & New Business staff will be available to support your business needs. For cases in which final requirements are received after December 18, processing will be handled on a first-in basis and are not guaranteed for placement in 2020. |
Important Information
For life ticket submissions and Lincoln MoneyGuard® personal history interviews (PHI), in which the client interview will be conducted over the phone (Tele-App), we encourage you to submit those cases as early in December as possible. The completion of the phone interview is contingent on your client’s availability.
As a reminder, online interview (eInterview) is available for your life insurance cases and offers a quicker, more convenient, and flexible method for the client to complete their interview at any time of day.
All business placed inforce with premium by December 25 will be considered as 2020 income. Any business placed after this date will count as 2020 production but will be treated as 2021 earnings.
Digital policy delivery must be leveraged for all cases. Traditional policy print packages are unavailable. View policy delivery options.
CLICK HERE FOR MORE IN THE ORIGINAL LINCOLN LEADER ANNOUNCEMENT