BEST AGENT PRACTICES

DO make sure your license(s) in all corresponding states (resident and non-resident) are current and Anti-Money Laundering, Annuity Suitability and any related coursework is completed in a timely manner prior to submitting applications. Any delays in compliance will result in application processing postponements.

DO make sure to thoroughly explain the product that is being purchased along with any riders and/or benefits that are available.

DO make sure to use the full legal name for each party on life insurance and annuity applications. Best practice would be to list the name as it appears on a government-issued ID. This is especially important for underwriting purposes and causes time delays when records cannot be ordered due to alias or incorrect name. If alias (AKA) is used, please note alias in the Note/Remarks section of the application.

DO make sure insurable interest exists between all parties on the application – this includes payors. In the case of proposed insured juveniles, a parent or guardian must sign the HIPPA (when proposed insured is under 18).

DO list the subsidized school or sports tournament that may be associated with a proposed insured application in the Note/Remarks section of the application.

DO submit life insurance and annuity applications to the Home Office as soon as they are completed and signed. Submitting with over two weeks delay may result in a request to submit new paperwork.

DO make sure you submit all corresponding questionnaires and forms that apply based on answers given on the application.

DO make sure to collect PAGE 3 of the final life insurance sales illustration with signatures upon delivery of certificates and return to Home Office.

DO NOT hold certificates once received for delivery to insured/owner. Life insurance and annuity certificates must be delivered as soon as possible since every insured has a window of time to review, make changes or cancel utilizing the “Free look” period. This period of time is defined in each certificate and, legally, it must be followed.

DO NOT send photos of applications as part of new business submittal. Photos create illegible documents. When submitting electronically, submit PDFs only or utilize e-applications via DocuSign.

DO NOT send photos of credit cards as forms of payment or as a substitution for the PRCUA PCA form.

As a reminder, all electronically submitted applications must be sent to new-business@prcua.org. Please also utilize this email to inquire about submitted applications. A response will be given within 24 hours of inquiry.

If applications are left pending due to lack of response for a period of 20 business days from last Home Office contact with either the Sales Representative or proposed insured/annuitant, the application will be closed as incomplete.

PRCUA reserves the rights to request additional documentation. Updates will be provided as they become available.