After an app is submitted and the final offer is ready from an underwriter, you are notified immediately (before the client) and can:
- Send the offer to the client
- For Term apps, make edits to:
- Face amount
- Term period
- Remove Waiver of premium
- Payment frequency (monthly or annual)
- For Whole Life and Joint apps, you can:
- Change the Whole Life product to another Whole Life product
- Change the term period
- Adjust Face Amount (excluding Juvenile, which requires underwriter review)
- Adjust Payment Frequency
- Drop Term Life from a Joint Application
- Drop Whole Life from a Joint Application
- Remove Waiver of Premium
- Remove & edit the RTR rider amount
- Remove & edit the GIR rider amount (excluding Juvenile, which requires underwriter review)
- Advisor/proxy has up to 14 days from the final offer decision to edit/amend the policy
- Client has up to 30 days to accept the policy once the offer has been sent out
- Hold offer/issue up to 30 days
This provides you with full insight and control so you can best manage your clients' needs.
1. After Underwriting approval and the final offer is ready, you will receive an email notification:
2. Click the View case in Coverpath button. You will be taken to the account center where you can click on the case in question:
3. If you believe updating the offer can better match your client's needs (e.g. budget, coverage amount, etc.), you have full ability to make the make the edits. Click Edit policy (or Send to send the offer as-is to the client):
4. Update the policy:
5. Click Send to send the offer:
- Back to the case details in the account center, you can see that the edited offer was sent to the client:
- You can revise the offer again if needed. When you do, no new email is sent to the client however, any further edits are updated in real-time for the client: they will see the most up-to-date offer when they login to their account.
6. Your client will receive the following email notifying them of the final offer:
7. After clicking on Accept Offer and logging into the account, the client is prompted to sign and accept the offer:
8. During this process, and before the client accepts the offer, your account center will show the following status for the case:
Edits in action!
You can also hold the offer (for up to 30 days) -- learn more here:
- If you hold issue and do not send it within 30 days, the policy will auto-cancel
- You can still edit a held offer before sending to the client
Important note about joint applications (bundled whole life and term products)
Individual (non-joint) applications, once approved with a final offer, can not convert to a joint application. An additional product (e.g. adding a term life product to the approved whole life policy) can not be added at this point in the application process. A separate application for the additional product needs to be submitted.
For more information about joint applications, click here.