LIBRA PARTNER
Insurance Carrier Service Level Delays
Please Note These Carrier Service Level Delays:
- Principal: Remains a top carrier recommendation due to pricing (particularly for term and GUL) and for their favorable underwriting and industry leading Accelerated Underwriting program, but given the tremendous influx of business, they are running a couple weeks behind in the new business department. Please be sure to set appropriate expectations with your clients.
- Principal will begin to REQUIRE use of VIVE, Quick Submit or iGO ticket for ALL term cases of $500,000 and under. Regular paper applications will no longer be accepted; contact our Case Design Team for any questions or more details.
- Securian: Continuing as a leader in the hybrid/linked LTC product space, their recent pricing change created a “fire sale” with significantly increased submissions. They are working hard to address the resulting delays.
- Oceanview: With industry leading 3 and 5 year MYGA rates, they have seen a huge new business increase. All departments have been impacted, but they are quickly adding staff, have recently lowered their 3 year rate to pump the brakes on new business, and we are starting to see the results.
In all cases we continue to have excellent relationships with these carriers and will work hard on your behalf to get business finalized, but want to be sure you are aware of these issues in advance. Any questions, please contact your New Business Case Manager or our Case Design Team