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| Electronic Term Life Applications |
Client Handouts 
Frequently Asked Questions
What does "electronic application" mean?
As a licensed and appointed life insurance agent you now have the ability to submit new business via secure online applications provided on carrier websites. This process eliminates using paper application forms and the need for you to get your clients signature.
How long does it take to fill out and submit the electronic application?
We have submitted numerous test applications using different agents and our own office staff. Time after time the user has completed the application and submitted it to the carrier in less than two minutes. That's worth repeating, in less than two minutes you can complete and submit your clients term life application and not do any more work on the case.
Does submitting the application electronically also cut down on the cycle time (application to issue)?
In most cases you will see a 50% reduction or more from the normal full application process. On average that means a 14 day cycle time!!
What are my responsibilities as the agent?
- Identify the need for life insurance
- Complete and submit the two minute electronic application
- Prepare your client for the interview and paramed exam
- Send your client the Thank You for Your Interest... letter from Banner Life, or the Here's What You Can Expect...letter from Genworth Financial.
What is the typical process when using electronic applications?
All carriers are slightly different, but here is the "typical" process used by most carriers when working with a contracted/appointed agent.
- Agent completes Request for Life Insurance Interview (RLI) and electronically submits RLI to carrier (less than 2 minutes!)
- Carrier call center conducts interview with client to complete application
- Client uses voice signature option to approve application
- Carrier sends client application package via email for their records
- Carrier orders paramedic exam
- Carrier handles case management *
- Underwriting decision
- Policy is sent directly to client or the agency
- Delivery requirements received and policy activated
- Agent receives commission!
- For more information see Banner Life's Agent Guide
* Electronic status updates are available to you every step of the way.
Is there anything special I have to do in regards to contracting or signing up to use electronic applications?
Each company has their own set of requirements. First of all you must be a licensed life insurance agent in the state you are writting the business. Secondly, you need to be contracted through the Independent Planners Group (IPG) to use the electronic applications listed on this page. Lastly, for Banner Life Insurance you must submit a Signature Authorization Addendum prior to using the AppAssist product.
How many companies offer electronic application submission?
The number is changing weekly as more and more companies come on board. Our job at IPG is to make your job easier. That's why we've selected the companies with a combination of the best electronic application process, most competitive rates and good service. We will continue to screen the electronic application process for all the companies we work with and introduce them to you when they meet our strict standards.
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