Advisors Blog

Banner Life is making it easier than ever to sell their term insurance portfolio. A new competitive 25-year duration and recent price decreases across the board makes them a top tier carrier across almost all categories. With the end of the year fast approaching, it is a good time to think about finishing the year strong and getting all those submitted Banner applications turned into placed cases. 

Introducing Banner AppAssist

Submitting a life insurance app with Banner is now faster and easier than ever! You can complete a Banner application with no paperwork using the online AppAssist drop-ticket process. Available for Term and UL products, up to $10 Million, ages 18-70 and up to $500,000 for ages 71 and older.

Through the drop-ticket process you can electronically submit a life insurance interview request by completing basic client data, with a step-by-step wizard guiding you the entire way. From there the carrier will handle the rest. Once your request has been submitted, the carrier will contact your client within 24-48 hours for a 30 minute phone interview to complete the full application and schedule an exam. After the interview is complete, the application packet is sent to Banner’s underwriting department where they will evaluate data such as prescription history, MIB, MVR, and FCRA public information. During this process we’ll be sending you updates on your case to make sure everything is running smoothly. If there are any issues that require your involvement or you feel there is anything that should be brought to the carriers attention, you may step in at any time. 

A few of the Banner AppAssist advantages include:

• Lower Pricing!
• Easier Submission!
• Faster Turnaround Times!
• More Agent Rewards!

Click here for a quick video on AppAssist. 

NO EXAM for Qualifying Cases with APPceleate

Depending on age/face amount, all term cases will be considered for APPcelerate, which is an expedited underwriting process where no paramed exam is required. 

If the client qualifies, the application will follow one of two paths:

• Immediate approval in as little as 24 hours that proceeds to issue.
• Underwriter determines that additional requirements are necessary and will go through full underwriting.

A few of the Banner APPcelerate Underwriting advantages include:

• No client checklist or pre-screening required.
• Same great OPTerm pricing. No additional policy fee.
• Better client experience. No medical exams, labs or APSs.
• Qualifying applicants can be approved by the next business day, or even faster!
• One inch automatically added to client’s height to potentially boost the rate class.
• Full commissions and quicker processing mean getting paid faster.
• With eDelivery, policy activation could take place same day.

Finish with eDELIVERY 

Banner’s flexible eDelivery solution to deliver life insurance policies to customers electronically. Banner partners with DocuSign, the global leader in eSignature, and PayPal to process online payments, creating an award-winning eDelivery platform. 

eDelivery solution saves time and money:

• It's fast. Cycle time is reduced by more than 2 weeks! 
• It's easy. The DocuSign portal is easy for your agency to manage. No broker training required. PayPal lets applicants pay online.
• It's free. No cost for an agency to start using eDelivery. Reduce/eliminate mailing costs for your agency.
• It's money. If daily EFT is used, we process BGA commissions the same day, and send funds to the bank within 24 hours. 
• It's complete. We collect all documents necessary to place the case (including payment) in good order.

When AppAssist is coupled with eDelivery, clients electronically receive and sign their insurance policy, allowing a seamless and easy process from start to finish:

• No client checklist or pre-screening required.
• Same great OPTerm pricing. No additional policy fee.
• Better client experience. No medical exams, labs or APSs.
• Qualifying applicants can be approved by the next business day, or even faster!
• One inch automatically added to client’s height to potentially boost the rate class.
• Full commissions and quicker processing mean getting paid faster.
• With eDelivery, policy activation could take place same day. 

Year-End Incentive - You Could Even WIN an Apple Watch

For every third app submitted with AppAssist between now and February 28th, 2018, agents can receive a Starbucks gift card and even a chance to win an Apple Watch! AppAssist apps must be completed and voice-signed to count as a submission - contact your brokerage director for complete details.

Why Submit Business to Banner?

• The paperless AppAssist program gets your clients’ applications submitted fast and efficiently.
• Long-time leader in low-cost term premiums.
• Great Ratings: COMDEX 94; AM Best A+, S&P AA-.
• Third largest carrier in the U.S. with more than $92 billion in coverage placed.
• 78% of applications approved in one of three best non-tobacco underwriting classes: Preferred Plus, Preferred and Standard Plus.
• Aggressive for former smokers: Standard Plus after 12 months and Preferred after 24 months of no tobacco use

If you have any questions or concerns with this program, please contact your GBS Brokerage Manager at any time. We are here to assist and ensure your clients’ applications get submitted fast and efficiently. With this quick and easy process, you not only save time but also get paid faster.