north american life insurance company - asurco
TRANSCRIPT
IIII HI HII.tifNorth American Life Insurance Company
Upline Signatures Required:
Appointment Requirements: Complete and Sign Producer Contract Application and Agreement Review and Sign Annualization Agreement, if requesting REQUIRED: Complete Commission Direct Deposit Authorization form
and attach VOID check Attach current copy of Resident State Life License REQUIRED: Attach current E&O Coverage Certificate
Pre-Appointment states: GA, PA, WA
Greg
Text Box
Return to: Greg Moore P.O. Box 1954 Morristown, TN 37816 Fax: 915-990-8550
O-2721 IGRP R2 05/06
North American Company for Life and Health Insurance P. O. Box 87452 Chicago, IL 60680-0452
A Member of the Sammons Financial Group
New Business Underwriting Service Center 250 East Broad Street, 4th Floor, Columbus, OH 43215 P.O. Box 182541, Columbus, OH 43218-2541 Administrative Office P.O. Box 5088 Sioux Falls, SD 57117-5088
____________iGroup Contract Transmittal Contract Type:
Marketing Office (MO) or Producer or License Only Producer or Contract Change Marketing Office Rank: 4 6 8 10
Marketing Office Name _______________________________________________________ Producer Rank: 12 14 16 18 20 22 24 26 28 30 32 34
Producer Name Hierarchy (reports to): iGroup Number _______________________________________________________________________________________________
MO Name and Number _________________________________________________________________________________________
Producer Name and Number
License Only Producer Requirements: LOP 2623
Copy of license(s) (resident/non-resident) Copy of license(s) (resident/non-resident)
Copy of Errors & Omissions Declaration Page* Copy of Errors & Omissions Declaration Page*
Entire hierarchy must be licensed/appointed** Entire hierarchy must be licensed/appointed***
Non-resident Appointment Fees Non-resident Appointment Fees
Additional Forms Included:
Commission Annualization Agreement
* E & O coverage limits required: $1,000,000/$1,000,000. ** Entire hierarchy is required to be appointed in the following state: CA, CO, FL, GA, KY, LA, MA, MS, MT, NC, NM, PA, SC, TN, TX, UT, VA, WA, WI. *** The individual or agency receiving the compensation from the License Only Producer production must always be licensed/appointed in every State the Producer is licensed/appointed. In addition, the entire hierarchy must be appointed in the states indicated above. Special Instructions from: ___________________________________________________________________________________________________ _______________________________________________________________________________________________________________________________
Send All Policies and correspondence to Agent Number:___________________________________
Completed contracting should be forwarded to:
North American Company for Life and Health Insurance Attention: Agency Services 525 West Van Buren Chicago, IL 60607
Phone: 800 800-3656 Ext 27219 Marcella Mathews Team Manager Ext 87691 Nancy Boone Fax: 877 595-8256 iGroup Authorized Signature _________________________Code # ____________Date
*O2721IGRP1*
Greg
41029
525 W Van Buren Chicago IL 60607 We’re Here for Life®
Anti-Money Laundering Training Training must be completed by January 1, 2007 In accordance with regulations stated under the USA PATRIOT Act, North American Company has established an anti-money laundering (AML) training program that requires all agents submitting business to complete by January 1, 2007. Agents and brokers submitting business must complete appropriate anti-money laundering training through one of the following methods:
•
•
• If you have completed another insurance company’s AML training program that is not associated with LIMRA, North American may accept a signed certification from the AML Compliance Officer of that company. The signed certification must state that the company has an AML program and that you have received AML training in accordance with that program. North American’s acceptance of AML training from another carrier is contingent on approval from our AML Compliance Committee. You may fax or e-mail your AML training certification to our Agency Services department at 1-877-595-8256 or [email protected].
Quick Hints on AML Training Here are some details about AML Training and how it’ll reflect your business submissions in 2007. • If a policy submitted in 2007 is split between multiple agents, all agents on the case
must be AML certified. • If a policy is submitted and an agent has not completed AML training, the agent will
have 30 days after the submit date to complete the AML training. − In anticipation of the agent completing AML training, our New Business
department will continue with the underwriting process on the policy. − AML training is a requirement for the Temporary Insurance Agreement (TIA)
acceptance. If the agent has not completed AML training within 48 hours of receipt of the TIA, the TIA will be considered void and the check with an off risk letter will be returned to the policyowner.
Agency Services December 13, 2006
For agent/ broker use only. Not intended for consumer solicitation purposes.
525 W Van Buren Chicago IL 60607 We’re Here for Life®
− When a policy is submitted and the agent does not have the proper AML training (and a TIA is not involved), Agency Services will attempt to contact the agent via phone and email within one business day after the policy has been submitted.
− If agent has not completed AML training seven calendar days after our first attempt to contact them, another attempt will be made. This process will continue two more times, every seven calendar days, if the agent does not complete AML training.
− Then, if the agent on the case has not completed AML training within 30 days after the policy submit date, the policy will be closed out and the agent’s contract with North American will be closed out/terminated.
• AML training will be an annual requirement.
North American understands the importance of diligently monitoring our business and proudly works with our industry leaders to comply with government regulations. We hope you will join us in our endeavors. For additional information regarding North American’s Anti-Money Laundering Program please feel free to contact our AML Compliance Committee at 1-866-384-0384.
Agency Services December 13, 2006
For agent/ broker use only. Not intended for consumer solicitation purposes.
North American Special Compensation Agreement Rank 14
Your compensation shall consist of commissions on premiums paid in cash on policies issued by us on applications obtained by you subject to our approval at the rates shown below. See notes on product rate cards for further commission information.
Term Products First Year Commissions
Effective 6/15/07 Home Impact Series
Home Impact 20 & 30 100.00 Home Impact 15 90.00 Home Impact 10 80.00
ADDvantage Series ADDvantagesm 30 100.00 ADDvantagesm 20 95.00 ADDvantagesm 15 85.00 ADDvantagesm 10 80.00
Universal Life Products First Year Commissions Renewal/Excess Commissions
Years 2-10* Custom TermULsm 90.00 2.50 / 2.50
Custom Accumulatorsm 100.00 2.50 / 2.50
Custom Extrasm 90.00 2.50 / 2.50
Custom Guaranteesm 95.00 1.50 / 1.50
Custom Accesssm
Custom Accesssm
Custom Builder IULsm 100.00 2.50/2.50
Commissionable Target: For all Universal Life policies, first year commissions are paid up to the policy’s commissionable target (CT). (The CT designation appears on the last page of a policy illustration). Any premium received in excess of the commissionable target will be paid at the policy’s excess rate.
Products with Rolling Targets: For Custom Builder IUL and Custom Guarantee: Both products have the rolling target feature, as long as 80% of target premium is received in the first year. If 80% of target premium is not received in year one, all second year premium will receive indicated renewal rate.
Renewals: Renewal commissions apply in years 2-10 on Custom TermUL, Custom Builder IUL, Custom Accumulator, Custom Guarantee, and Custom Access (level pay only). Renewal commissions apply in years 2-7 on Custom Extra. There are no renewals on single premium products, i.e. Legacy Optimizer. Excess commissions apply in the first year and in the years that renewals are paid.
Products with Commission Caps: There is a $60 per $1,000 cap on commissionable target premium for Custom Accumulator. There is a commission cap based on issue age (75) for Custom Extra. There is a commission cap based on issue age (as low as 70) based upon underwriting class for Custom Guarantee.
Products with Commission Chargebacks: There are no chargebacks if the insured dies. There are no chargebacks for the Custom TermUL, Custom Extra, Custom Guarantee or Custom Builder IUL products.
Custom Accumulator: For policies qualifying for the Return of Premium Benefit, there is a 100% chargeback for surrenders in the first year (365 days). Full or Partial Surrenders (not available until year 2) in the second year (366 days or later) will result in a 50% chargeback.
Legacy Optimizer: There is a 100% commission chargeback for surrenders in the first year.
Custom Access (single pay plans only): There is a 100% commission chargeback for surrenders in the first year only if no surrender charge is taken because of the Return of Premium Benefit.
Internal Replacements: For information on internal replacements please refer to the Producer’s InfoNet at www.producersinfonet.com
Service Fees: Currently, no North American products pay service fees.
This commission/productions schedule is a supplement to the contract and its terms and conditions. This schedule is subject to change at any time by written notice.
Policy fees are fully commissionable for the Home Impact Plus Series. Policy fees are non-commissionable on ADDvantage Term.
J-916 FOR AGENT USE ONLY. NOT INTENDED FOR CONSUMER SOLICITATION PURPOSES. 6/15/07
North American Company for Life and Health Insurance P. O. Box 87452 Chicago, IL 60680-0452
A Member of the Sammons Financial Group
Upline Signatures Required:
Appointment Requirements: Complete and Sign Producer Contract Application and Agreement Review and Sign Annualization Agreement, if requesting REQUIRED: Complete Commission Direct Deposit Authorization form
and attach VOID check Attach current copy of Resident State Life License REQUIRED: Attach current E&O Coverage Certificate
Pre-Appointment states: GA, PA, WA
Greg
Text Box
Return to: Greg Moore P.O. Box 1954 Morristown, TN 37816 Fax: 915-990-8550
O-2721 IGRP R2 05/06
North American Company for Life and Health Insurance P. O. Box 87452 Chicago, IL 60680-0452
A Member of the Sammons Financial Group
New Business Underwriting Service Center 250 East Broad Street, 4th Floor, Columbus, OH 43215 P.O. Box 182541, Columbus, OH 43218-2541 Administrative Office P.O. Box 5088 Sioux Falls, SD 57117-5088
____________iGroup Contract Transmittal Contract Type:
Marketing Office (MO) or Producer or License Only Producer or Contract Change Marketing Office Rank: 4 6 8 10
Marketing Office Name _______________________________________________________ Producer Rank: 12 14 16 18 20 22 24 26 28 30 32 34
Producer Name Hierarchy (reports to): iGroup Number _______________________________________________________________________________________________
MO Name and Number _________________________________________________________________________________________
Producer Name and Number
License Only Producer Requirements: LOP 2623
Copy of license(s) (resident/non-resident) Copy of license(s) (resident/non-resident)
Copy of Errors & Omissions Declaration Page* Copy of Errors & Omissions Declaration Page*
Entire hierarchy must be licensed/appointed** Entire hierarchy must be licensed/appointed***
Non-resident Appointment Fees Non-resident Appointment Fees
Additional Forms Included:
Commission Annualization Agreement
* E & O coverage limits required: $1,000,000/$1,000,000. ** Entire hierarchy is required to be appointed in the following state: CA, CO, FL, GA, KY, LA, MA, MS, MT, NC, NM, PA, SC, TN, TX, UT, VA, WA, WI. *** The individual or agency receiving the compensation from the License Only Producer production must always be licensed/appointed in every State the Producer is licensed/appointed. In addition, the entire hierarchy must be appointed in the states indicated above. Special Instructions from: ___________________________________________________________________________________________________ _______________________________________________________________________________________________________________________________
Send All Policies and correspondence to Agent Number:___________________________________
Completed contracting should be forwarded to:
North American Company for Life and Health Insurance Attention: Agency Services 525 West Van Buren Chicago, IL 60607
Phone: 800 800-3656 Ext 27219 Marcella Mathews Team Manager Ext 87691 Nancy Boone Fax: 877 595-8256 iGroup Authorized Signature _________________________Code # ____________Date
*O2721IGRP1*
Greg
41029
525 W Van Buren Chicago IL 60607 We’re Here for Life®
Anti-Money Laundering Training Training must be completed by January 1, 2007 In accordance with regulations stated under the USA PATRIOT Act, North American Company has established an anti-money laundering (AML) training program that requires all agents submitting business to complete by January 1, 2007. Agents and brokers submitting business must complete appropriate anti-money laundering training through one of the following methods:
•
•
• If you have completed another insurance company’s AML training program that is not associated with LIMRA, North American may accept a signed certification from the AML Compliance Officer of that company. The signed certification must state that the company has an AML program and that you have received AML training in accordance with that program. North American’s acceptance of AML training from another carrier is contingent on approval from our AML Compliance Committee. You may fax or e-mail your AML training certification to our Agency Services department at 1-877-595-8256 or [email protected].
Quick Hints on AML Training Here are some details about AML Training and how it’ll reflect your business submissions in 2007. • If a policy submitted in 2007 is split between multiple agents, all agents on the case
must be AML certified. • If a policy is submitted and an agent has not completed AML training, the agent will
have 30 days after the submit date to complete the AML training. − In anticipation of the agent completing AML training, our New Business
department will continue with the underwriting process on the policy. − AML training is a requirement for the Temporary Insurance Agreement (TIA)
acceptance. If the agent has not completed AML training within 48 hours of receipt of the TIA, the TIA will be considered void and the check with an off risk letter will be returned to the policyowner.
Agency Services December 13, 2006
For agent/ broker use only. Not intended for consumer solicitation purposes.
525 W Van Buren Chicago IL 60607 We’re Here for Life®
− When a policy is submitted and the agent does not have the proper AML training (and a TIA is not involved), Agency Services will attempt to contact the agent via phone and email within one business day after the policy has been submitted.
− If agent has not completed AML training seven calendar days after our first attempt to contact them, another attempt will be made. This process will continue two more times, every seven calendar days, if the agent does not complete AML training.
− Then, if the agent on the case has not completed AML training within 30 days after the policy submit date, the policy will be closed out and the agent’s contract with North American will be closed out/terminated.
• AML training will be an annual requirement.
North American understands the importance of diligently monitoring our business and proudly works with our industry leaders to comply with government regulations. We hope you will join us in our endeavors. For additional information regarding North American’s Anti-Money Laundering Program please feel free to contact our AML Compliance Committee at 1-866-384-0384.
Agency Services December 13, 2006
For agent/ broker use only. Not intended for consumer solicitation purposes.
North American Special Compensation Agreement Rank 14
Your compensation shall consist of commissions on premiums paid in cash on policies issued by us on applications obtained by you subject to our approval at the rates shown below. See notes on product rate cards for further commission information.
Term Products First Year Commissions
Effective 6/15/07 Home Impact Series
Home Impact 20 & 30 100.00 Home Impact 15 90.00 Home Impact 10 80.00
ADDvantage Series ADDvantagesm 30 100.00 ADDvantagesm 20 95.00 ADDvantagesm 15 85.00 ADDvantagesm 10 80.00
Universal Life Products First Year Commissions Renewal/Excess Commissions
Years 2-10* Custom TermULsm 90.00 2.50 / 2.50
Custom Accumulatorsm 100.00 2.50 / 2.50
Custom Extrasm 90.00 2.50 / 2.50
Custom Guaranteesm 95.00 1.50 / 1.50
Custom Accesssm
Custom Accesssm
Custom Builder IULsm 100.00 2.50/2.50
Commissionable Target: For all Universal Life policies, first year commissions are paid up to the policy’s commissionable target (CT). (The CT designation appears on the last page of a policy illustration). Any premium received in excess of the commissionable target will be paid at the policy’s excess rate.
Products with Rolling Targets: For Custom Builder IUL and Custom Guarantee: Both products have the rolling target feature, as long as 80% of target premium is received in the first year. If 80% of target premium is not received in year one, all second year premium will receive indicated renewal rate.
Renewals: Renewal commissions apply in years 2-10 on Custom TermUL, Custom Builder IUL, Custom Accumulator, Custom Guarantee, and Custom Access (level pay only). Renewal commissions apply in years 2-7 on Custom Extra. There are no renewals on single premium products, i.e. Legacy Optimizer. Excess commissions apply in the first year and in the years that renewals are paid.
Products with Commission Caps: There is a $60 per $1,000 cap on commissionable target premium for Custom Accumulator. There is a commission cap based on issue age (75) for Custom Extra. There is a commission cap based on issue age (as low as 70) based upon underwriting class for Custom Guarantee.
Products with Commission Chargebacks: There are no chargebacks if the insured dies. There are no chargebacks for the Custom TermUL, Custom Extra, Custom Guarantee or Custom Builder IUL products.
Custom Accumulator: For policies qualifying for the Return of Premium Benefit, there is a 100% chargeback for surrenders in the first year (365 days). Full or Partial Surrenders (not available until year 2) in the second year (366 days or later) will result in a 50% chargeback.
Legacy Optimizer: There is a 100% commission chargeback for surrenders in the first year.
Custom Access (single pay plans only): There is a 100% commission chargeback for surrenders in the first year only if no surrender charge is taken because of the Return of Premium Benefit.
Internal Replacements: For information on internal replacements please refer to the Producer’s InfoNet at www.producersinfonet.com
Service Fees: Currently, no North American products pay service fees.
This commission/productions schedule is a supplement to the contract and its terms and conditions. This schedule is subject to change at any time by written notice.
Policy fees are fully commissionable for the Home Impact Plus Series. Policy fees are non-commissionable on ADDvantage Term.
J-916 FOR AGENT USE ONLY. NOT INTENDED FOR CONSUMER SOLICITATION PURPOSES. 6/15/07
North American Company for Life and Health Insurance P. O. Box 87452 Chicago, IL 60680-0452
A Member of the Sammons Financial Group