Courses

The Method to the Magic Webinar Series (Part 3): Professionalism

The Method to the Magic Webinar Series (Part 2): Time Management

The Method to the Magic Webinar Series (Part 1): Emotional Intelligence

Regulatory Considerations

PART I – INSURANCE REGULATORS, LICENSING, AND CONTINUING EDUCATION
When we talk about regulatory considerations in the life insurance process, we are talking about the legal, state, federal and other carrier regulatory requirements for writing and representing life insurance. The goal is to protect consumers from harmful sales practices. In this video, we will discuss the role of insurance regulators, licensing and continuing education (CE) requirements, fixed vs. variable life insurance compensation, and recommended practices for illustrating variable and indexed universal life policies.

PART II – REGULATION 187 BEST INTEREST (REG BI)
Regulatory considerations continually evolve, and new legislations affect day to day procedures in the case management process. In this video, you will learn about one of the more recent legislations and rulings that affect financial advisors, BGAs, and insurance professionals – Regulation 187 Best Interest.

PART III – REGULATION 60 AND ANTI-MONEY LAUNDERING
Regulatory considerations can be state-specific, carrier-specific, or mandated at the federal level. This video provides an overview of two key regulations. The first is New York Regulation 60, which is a consumer protection law that applies to the replacement of life insurance or annuity contracts in the state of New York. The second is a federal law called the USA Patriot Act which creates additional scrutiny and required case management procedures to prevent money laundering within the financial industry.

PART IV – GENERAL SUPERVISORY REQUIREMENTS
Financial advisors, BGAs, and insurance specialists will often have specific regulatory and compliance requirements set forth by the companies or institutions they affiliate with. This video discusses how advisors and insurance specialists may be supervised by their corporate regulatory bodies, and the BGA’s and case manager’s responsibilities in the regulatory process.

Working with Advisors and Insurance Professionals

Case Management Requirements

PART I – LICENSING, CONTRACTING, AND COMMISSIONS
Case managers work both independently and interdependently. In this video, we will explore the interdependencies and external parties you may interact with in your role. You will learn additional facets of the life insurance process, including contracting, licensing, and commissions.

PART II – TRACKING AND DOCUMENTATION
As a case manager, your main responsibility is to move a case forward. Your ability to properly document where a case is at, at all times, is critical. This video provides an overview of the information and data that must be tracked throughout the duration of the case management process.

PART III – THE RIGHT PRACTICES FOR SUCCESS
Communication is one of the most important skills and responsibilities in the case management process. In this video, you will learn the right practices for communication, including when to call vs. email, interacting with underwriters and vendors, and best practices for negotiating underwriting decisions.

The Case Manager Role

PART I – PRINCIPAL RESPONSIBILITIES AND INTERACTIONS
The case manager role is an intense position that requires a sense of urgency, interpersonal skills, management of competing priorities, and attention to detail. This video provides a detailed overview of the case manager’s responsibilities and key interactions to help process and place insurance cases in the most swift, efficient, and accurate manner possible.

PART II – SKILLS, PERSONALITY TRAITS, AND PERFORMANCE INDICATORS
Case managers have a set of professional skills and personality traits that help them gather and steer the necessary underwriting requirements and negotiate with carriers to secure the most advantageous offers possible. This video reviews the traits of high performing case managers, including a discussion on interdependencies, key performance indicators, and work prioritization.

Types of Case Submissions

PART I – PREPARING THE APPLICATION
The life insurance application process may differ from one carrier to another; however, most applications provide the same basic information. In this video, you will gain a better understanding of the parts of a life insurance application and supplemental forms. You will learn the critical need for applications to be submitted In Good Order (IGO) vs. Not in Good Order (NIGO) and how to prevent NIGOs.

PART II – AVAILABLE SUBMISSION METHODS
The role of technology and digital trends in the life insurance industry has resulted in new efficiencies for submitting insurance applications and expediting the underwriting process. In this video, you will learn the impact of the different submittal processes available and how they affect the underwriting process and placement ratios.

The Role of the Brokerage General Agency (BGA)

Case managers are an integral member of the Brokerage General Agency (BGA) team and the BGA value proposition. In this video, you will learn how life insurance is distributed through a BGA, what makes a BGA distinct, and the value BGAs deliver to the advisors and clients they serve. You will learn how your role fits within the BGA service model and other roles within a BGA team.

Life Insurance Overview

PART I – THE PURPOSE OF LIFE INSURANCE
Life insurance is one of the most important financial decisions a client can make. In this video, you will learn about the purpose of life insurance and important key terminologies. You will gain an understanding of the parties in a life insurance contract and an overview of insurable interest.

PART II – TERM INSURANCE PRODUCTS, FEATURES, AND BENEFITS
Term insurance is one of the most affordable options for life insurance in today’s marketplace. In this video, we will be discussing term insurance vs. permanent insurance, including the different products, available features, and key terminologies. You will further gain an understanding of life insurance premiums and the different types of expenses within a life insurance contract.

PART III – PERMANENT INSURANCE PRODUCTS, FEATURES, AND BENEFITS
Permanent insurance is designed to provide life insurance coverage throughout a person’s lifetime. In this video, you will learn about the main categories of permanent insurance, including whole life insurance and universal life insurance variations. You will gain an understanding of permanent insurance cash values and the living benefits of permanent insurance.

PART III – PERMANENT INSURANCE PRODUCTS, FEATURES, AND BENEFITS CONTINUED
In this video, we continue our discussion on permanent life insurance with a focus on Variable Universal Life (VUL) and Indexed Universal Life (IUL) policy features and benefits. You will learn about Joint Life and Survivorship Life policies, Modified Endowment Contracts (MEC), and the availability of No-Load products for specific types of advisors.

PART IV – RIDERS, LIVING BENEFITS, AND POLICY PROVISIONS
Life insurance policy riders, living benefits, and accelerated death benefits allow policyholders to customize their coverage and gain access to a policy’s death benefit while they are living. This video provides an overview of the available riders and living benefits in the marketplace along with a discussion of standard rights of ownership, protective clauses, and other policy provisions.

PART V – LIFE INSURANCE ANALYSIS, REVIEWS, AND COMPENSATION
Designing the right life insurance solution for a client requires an assessment of many different factors. In this video, we will discuss how insurance carriers are rated and analyzed, as well as provide an overview of the life insurance case design process, policy reviews, and a discussion on life insurance compensation.

The Underwriting Process

PART I – UNDERWRITING BASICS
Underwriting is one of the most crucial stages in case management. Underwriting is the process an insurance company utilizes to determine how to categorize an applicant or proposed insured based on their mortality risk. In this video, you will learn the key underwriting risks and considerations, including a discussion on medical risk factors, paramedical exams, and attending physician statements (APS).

PART I – UNDERWRITING BASICS CONTINUED
This video continues our discussion on underwriting basics including the role of the MIB Group, lifestyle and financial underwriting factors, income replacement guidelines, and the various underwriting tools and databases used in the risk assessment process.

PART II – RISK / RATE CLASSES OVERVIEW
Insurance underwriters assign risk and rate classes based on how statistically likely it is that a proposed insured will live a long and healthy life. Rate classes determine if an applicant will be approved for life insurance and the premium that will be required to pay for that coverage. This video provides an overview of rate classes, smoker vs. non-smoker rates, substandard and table rated cases, and how to navigate and negotiate underwriting offers.

PART III – FIELD UNDERWRITING
Field underwriting is one of the most important processes used to help facilitate positive underwriting outcomes for clients. It is used by insurance advisors and case managers to collect data about a proposed insured’s known risks prior to formally submitting an application. As a case manager, your role is to help facilitate the field underwriting process to properly assess known risks upfront and steer cases to the right carriers. In this video, you will learn about the field underwriting tools available to better assess a proposed insured’s history and help determine an underwriting classification a client might qualify for.

PART III – FIELD UNDERWRITING CONTINUED
To support your role in the field underwriting process, this video provides an overview of major health risks and lab abnormalities to look for, major lifestyle risks, and major financial risks and considerations.

PART IV – NAVIGATING UNDERWRITING DECISIONS AND REINSURANCE
In this final video in the underwriting module, you will learn how to navigate underwriting decisions and potentially improve an underwriting rate class. This video will further discuss how to underwrite business cases and an overview of reinsurance and carrier retention limits.

Case Managers and Remote Work: How to Thrive in a Virtual Environment

Life insurance industry veteran Chuck Anderson, National Sales Director at Diversified Brokerage Services, and a team of expert speakers share tips, tools, and best practices for case managers who want to thrive in a virtual environment.

Best Practices for Case Managers Dealing with Regulatory Changes

Life insurance industry veteran Chuck Anderson, National Sales Director at Diversified Brokerage Services, and a team of experts from top BGAs and carriers offer guidance on how to effectively manage and adhere to actuarial guidelines, state insurance department rules, and all things regulatory.

Case Manager Certification

The NAILBA Case Manager Certification Program helps train and develop new case managers on the life insurance case management process, while certifying existing case managers on the key skills, responsibilities, and right practices required for their role. The program, which has been designed with a life insurance focus, is comprised of eight online learning modules with mastery quizzes for each module. The program concludes with an online Comprehensive Certification Exam comprised of 175 questions. Participants must pass the exam with a score of 70 or higher to complete the curriculum. Case Managers with at least one year of experience in the case manager role can earn the Certified Case Manager (CCM) designation.