COVID-19 Resource Center

How to process business in this evolving environment

Life Insurance

Single Payment Whole Life:
We’ve implemented new procedures in order to streamline SPWL application submissions.

Electronic Applications and TeleLife:
Protective encourages the use of electronic applications. You can submit applications directly through the MyProtective website. Electronic applications can also be submitted through iGO, ExpressCOMPLETE, LifeSpeed, and IXN’s mobile app.

With electronic applications, customers complete a phone interview and sign applications with voice or electronic signatures. Learn more about TeleLife by viewing this short video and accessing the TeleLife resources noted below.

Electronic Application Platforms:
Here are the products available on each electronic application platform.

Electronic Policy Delivery:
Electronic Policy Delivery (EPD) is the electronic presentation and delivery of a life insurance policy contract and related information online. Selecting EPD means your client will receive and fulfill delivery requirements in an electronic PDF file.

Electronic Policy Delivery can be elected by the agent when submitting an application, or at any point in the underwriting process. We also offer an option to enroll your policies for EPD automatically.

For more information about EPD, please see these resources.

Paramedical Exams:
Many vendors are suspending service in impacted areas and changing other ways they conduct business. Visit the vendor websites below for the latest information. If there are examiner restrictions in your area, or an applicant is uncomfortable proceeding, we will work to keep the application in a pending status until restrictions are lifted or the applicant feels more comfortable. See ‘Underwriting’ for additional guidelines.

Annuities

Protective has implemented the following procedures in order to streamline the new business process and allow for social distancing:

• We will continue to accept both electronic and paper applications according to firm guidelines.
• National versions* of current annuity products are available to be set up for eSignature in our order entry platforms at the firm’s discretion.
• Protective will not require original (wet) signatures on new business applications or supporting documents, and will accept copies, including photos, of completed signatures.
• We will accept an e-mailed agent statement indicating the agent met with the client, as long as the statement is included with application materials and submitted through the firm, and the firm maintains protocols to ensure Know Your Customer and Customer Identification Procedures have been satisfied.
• Some firms have previously required Protective to mail all issued contracts to the agent or Home Office contact for delivery to the customer. During this period, we will work with firms who may wish to change that election and send issued contracts directly to customers.

* excludes policies sold in New York

Here are the products available on each electronic application platform.

Updates to underwriting guidelines in response to COVID-19

Effective March 26, 2020 any coverage approved on applicants aged 60 or greater will require a Statement of Health to be signed on delivery. (This requirement does not apply to applicants who are approved for instant issue of single payment whole life insurance.)

Effective March 26, 2020 we will no longer accept cash with application to bind coverage under the Temporary Insurance Agreement in the states of California and Kansas. Any premium submitted with California or Kansas applications as of this date will be returned. (This requirement does not apply to applicants who are approved for instant issue of simplified issue life insurance, including single payment whole life. In these cases, we will return any submitted premium if the case requires full underwriting.)

Our exam vendors are continuing to follow guidance from the Centers for Disease Control (CDC) and are taking extra precautions to protect themselves and our applicants. If there are examiner restrictions in your area, or an applicant is uncomfortable proceeding, we will work to keep the application in a pending status until restrictions are lifted or the applicant feels more comfortable.

We will not routinely waive exam requirements. However, we will review a fully-completed nonmedical (Part 1A) and recent medical records that include current labs and substantial evidence of insurability to determine if they can be utilized in place of an exam or lab requirement. Our ability to make a substitution will be determined on a case-by-case basis and will be based on the veracity of the medical records provided. Please note: At a minimum, we will need a current nonmedical (Part 1A) and medical records to make any assessment.

In addition, we’re aware that state restrictions and health care priorities are affecting Attending Physician Statement (APS) turnaround times in some areas. We are monitoring the impact on the APS retrieval process. We are assessing each case and will use alternative sources to medical records whenever possible.

Due to the U.S. Department of State’s unprecedented worldwide Level 4: Do Not Travel advisory, we will postpone coverage on newly-submitted or pending applications for any individual recently returned from international travel for a period of 30 days following his or her return. In addition, we will postpone coverage on newly-submitted or pending applications for individuals with any planned travel outside the U.S.

In the event the customer cannot continue with the underwriting process, please use the guidelines below for the expiration of underwriting requirements:

Expiration of Underwriting Requirements

Service customers while practicing social distancing

Effective immediately, we will temporarily waive the witness signature on delivery requirements for life and annuity policies.

Because the issue process is automated, Protective cannot “hold” policies from being issued once they have been approved and the offer has been accepted. However, using Electronic Policy Delivery, your customers can securely review and accept the policy online. They can even pay initial premiums!

Electronic Policy Delivery can be elected at any point in the underwriting process.

In addition, policy print is available on the MyProtective website. You can use one of the following approved e-signature vendors to sign the delivery documents.

• DocuSign
• eSign Live
• Adobe
• Paperless Solutions Group

Policies are typically issued with a 30-day delivery period. Protective will extend this delivery period to 60 days to accommodate our customers’ needs. Policies will still print with the original 30-day delivery period, and the extension will be handled internally. This will allow us to deploy the extension rapidly, without having to wait for programming time. If your case is closed out in error or if you need more time for placement, please reach out to your Regional Vice President.

Job aids and tips to help you process business

Here are a variety of helpful guides that will help you digitally submit business and deliver your policies.

Independent Agents and Firms:

• Protective Velocity Digital Capabilities Overview
• Voice Signature Job Aid
• Electronic Policy Delivery Getting Started Guide (Independent Agents)

To track your pending and in force business, use the My Business menu on My Protective.

Bank Advisors - SPWL:

• Protective Series Estate Maximizer EZ-App Job Aid
• Pending System Guide

Liberty Mutual Agents:

• Simplified Issue EZ-App Job Aid
• Fully Underwritten EZ-App Job Aid
• EZ-App eSignature Job Aid
• Electronic Policy Delivery Guide
• TeleLife Voice Signature Job Aid

Liberty Mutual Agents and Independent Agents and Firms:

• TeleLife Consumer Quick Reference Guide
• TeleLife Frequently Asked Questions
• TeleLife Applicant’s Checklist
• Electronic Policy Delivery Consumer Flyer

Online capabilities for your customers

Protective offers many ways your customers can manage their policies at the Online Customer Service Center. Customers can view policy details, make payments, and update beneficiary information. The Protective Virtual Assistant is available 24 hours a day to help and will refer customers to live representatives when they need additional support during normal business hours.

Protective’s Online Claims Center gives beneficiaries easy access to resources they need at a difficult time. Customers can begin the claims process, check claims status, and continue to interact with Protective through a mobile customer experience. Protective also offers a number of online resources to help customers through the grieving process.

A company in the business of life for more than 100 years

• Mission: Protective Life Corporation remains true to its mission: We are Protective. We tear down the barriers that block people from protecting their tomorrow so they can embrace today.
• Expertise: We live this mission every day through our actions to foster a values-driven, financially strong and disciplined company. Steadfast focus on protecting our customers guides our behavior and decisions. Deep expertise in life insurance is a cornerstone of our strength.
• Financial strength: Under the stable leadership of only 7 CEOs in its history, Protective continues to flourish, with $979 billion of coverage in force as of December 31, 2019. In 2015, Protective Life Corporation became part of The Dai-ichi Life Insurance Company, Limited. Combined, Dai-ichi’s group of companies represents one of the largest global life insurers.

Protective Life Company Profile

• $979 billion of insurance in force
• 9.3 million policies in force
• 3,000+ employees

_{As of December 31, 2019}

Protective Life is Highly Rated

Company news and financial information: https://investor.protective.com/