| |
Dear Distribution Partners,
Thank you for your patience as we process the massive influx of life applications due to the WA Cares Fund. We continue to make progress and will continue to do all we can to process Washington state applications prior to November 1, 2021. This includes increasing personnel and working overtime. Here’s an update and some things you can do to help move your applications along faster.
Updates for October 22, 2021
- If your application has outstanding requirements, they must be submitted immediately for the application to have a chance of being placed in force prior to November 1, 2021. See below for details on the Life Pending Tracker and information regarding outstanding requirements.
- While some applications will not be completed prior to November 1, 2021, we will continue to work on them after that date.
- For currently pending policies issued on or after November 1, 2021, Nationwide will issue the policy with an effective date of October 28, 2021, while the proceeds will be applied on the issue date (or the date received if proceeds are received after the issue date).
- NOTE: Nationwide cannot provide guidance as to whether policies with an effective date prior to November 1, 2021, but not issued prior to November 1, 2021, will satisfy the requirements of the WA Cares Fund. Please consult your tax professional.
If you haven’t already, review the points below to learn how to track the progress of your applications and other steps to help keep them moving through the process.
How to check the progress of your applications and for any outstanding requirements
- If the application appears on the Life Pending Tracker and the status is either "Received" or "WA Case on Hold," this indicates that the application will not be issued prior November 1, 2021, because the application was received after the deadline (see (4) below).
- For applications showing other statuses, please review them to make sure there aren’t any outstanding requirements, and work to fulfill them as soon as possible.
- NOTE: We still cannot guarantee that the policies will be issued prior to November 1, 2021.
- For electronic applications received through iPipeline or Porch after the August 10, 2021 deadline and paper applications received after the July 30, 2021 deadline, we will begin processing those after November 1, 2021. Please know that these cases will also experience lengthy delays due to volumes received in Washington state.
What you can do to help get policies placed prior to November 1, 2021
Please take these steps as soon as possible as we are quickly approaching November 1, 2021.
- Submit outstanding requirements immediately using our Life Pending Tracker. Watch this video to learn how to use the Life Pending Tracker.
- Have an illustration (even if it’s unsigned) on file with us so when we have an underwriting decision, we will be able to issue the policy at our next review. You can upload the illustration on the Life Pending Tracker.
- Provide modal premium or EFT information with the permission to draft. With this we will place the case in force right away and collect any needed signatures when the policy is delivered.
- Monitor your applications online via our Life Pending Tracker. The Tracker is available 24/7 and is updated frequently throughout the day.
Your cases will not appear in the Life Pending Tracker if your just-in-time licensing appointment or required LTC education has not been completed — or, for Washington state business, the case was submitted after our application deadlines:
- July 30, 2021 (for paper or any application sent to us outside iPipeline or Porch)
- August 10, 2021 (for electronic applications through iPipeline or Porch)
Not business as usual
To free up staff time to focus on underwriting and processing, our underwriters and case managers will reach out to you only for any missing requirements and to notify you when a decision is reached. Under normal circumstances, this isn’t the experience you should expect from Nationwide.
Thank you for trusting Nationwide to provide life insurance for your clients. We appreciate your patience and understanding as we process business as quickly and efficiently as possible.
Frank W. Spencer
VP, Life Insurance Distribution Leader |
|
Sherry Hudson
AVP, Life Underwriting |
|
|
|
Life Insurance Solutions Center: |
800-321-6064 |
| Brokerage General Agents Solutions Center: |
888-767-7373 |
| Producer Group Solutions Center: |
844-867-8159 |
|
|
|
|
|
|
| |
|
