Your Weekly News & Updates July 2018
New Rates for Level Term Plans and Level Term Riders effective July 23, 2018
New rates available for quoting and issue on 7/23/2018
New Business Submission and Pending New Business
Effective 7/23/2018 SBLI will issue pending applications with new rates, if lower than the originally quoted rates.
Applications submitted to SBLI’s Home Office between the period of July 23, 2018 and August 24, 2018 should indicate “new rates” on the application if it was sold based on new rates.
New applications quoted prior to July 23, 2018 and received in SBLI’s Home Office by August 24, 2018 will be issued with the more favorable rates.
New applications received August 25, 2018 and after will receive new rates.
Recently Issued Business
Polices recently issued and are within 120 days of the exam date, may be considered for reissue with the new rates provided the request is received in SBLI’s Home Office by August 24, 2018.
EZ App- Protective
Extra security. Just as EZ. Your online security is a priority to us. To keep your information safe, we’re adding a new login portal on June 25 for those accessing your BGA’s EZ-AppSM link See how it works
TRANSAMERICA CREDIT CARD PROCESS CHANGE
|Effective June 15, 2018, Transamerica is implementing a new process for all credit card transactions that will help to secure credit card and other private information used when transacting business. Transamerica will no longer accept credit card numbers. Instead, credit card numbers must be converted to a token number using our website. The token number is then placed on the application and in iGo or wherever a credit card number is requested today.|
|New Business Agents will need to discontinue writing the credit card number on the paper application or putting it into the iGo web application. Instruct customers to use the credit card/token website to obtain the required token number. The token number will be used in place of a credit card number in our systems. Please note that iGO changes will not be implemented until June 22.|
|How Does it Work?|
|It’s simple and easy. The customer will need to:|
|When your clients navigate through the tokenizing process, they will only need to input their credit card numbers. No other information is needed for this process.|
|Regarding Renewal Premium Payments Clients will no longer have the option to contact the Transamerica Customer Service team for assistance with credit card payments made through Western Union. Changes being made to the Western Union website will create functionality to make it self-service. As of June 15, if a client contacts the Transamerica Customer Service team for assistance with a credit card payment for a renewal premium, the call center representative will provide instructions to enter the payment into the Western Union website. As a result of the change, the customer will pay a higher fee for the service.|
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