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 before the close of business on Dec. 31, 2021. We encourage you to submit all outstanding requirements for year-end cases as soon as possible. To assist you with placing your business, the following Memo to Agent Requirement will be added to all pending cases starting Oct. 11, 2021:
“IMPORTANT YEAR-END NOTICE: To ensure this policy is placed inforce by year-end, all placement-restrictive requirements, including premium, must be received at Lincoln in-good-order by December 27, 2021.”
The following guidelines and key dates should be followed to meet these expectations.
- Oct. 1: Incoming 1035 exchange – overnight mailing requests. For any incoming 1035 exchange, the surrendering carrier will be provided with Lincoln’s FedEx account number and requested to overnight the check to Lincoln.
- Dec. 23: 2021 compensation income placement deadline. All business placed inforce with premium by Dec. 23 will be considered as 2021 income. Any business placed after this date, through Dec. 31, 2021, will count as 2021 production but will be treated as 2022 earnings. *
- Dec 24: Company holiday
- Dec 27: All placement-restrictive requirements, including premium, must be received at Lincoln in-good-order to be guaranteed for placement by Dec. 31, 2021. NOTE: Any case eligible for the Lincoln VULONE Suite Enhanced Underwriting Program (one-class underwriting upgrade) or the Lincoln MoneyGuard Market Advantage® Expanded Couples Discount Program must be placed inforce, or 1035 exchange initiated, by Dec. 31, 2021.
*Important information regarding Internal Replacements: For Lincoln internal replacements, all business must be placed inforce with premium by Dec. 21, 2021 to be considered as 2021 compensation income. Any business placed after this date, through Dec. 31, 2021, will count as 2021 production but will be treated as 2022 earnings