For some clients, a combination of term and whole life insurance meets their needs best.
Important information before you start a joint application
- 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.
- When applying for two policies at once, we do not have the capability of customizing each outside of:
- Face amounts
- Other details on the policy information tab
For any other features would have to apply to both, neither, separately or be addressed post issue
- A joint application, when issued, is comprised of two distinct policies bundled together (in a single application): a convertible term life policy and a whole policy
- There is a unique policy ID for each
- Changes, cancellation, etc. can be made separately for each if necessary
To start a joint application, follow these steps:
- Enter client information then select the Whole Life & Convertible Term option
- Enter quote information
- The whole life illustration visualization automatically renders based on the quote information you entered for the whole life product (it does not include the term product details).
Click Launch Email (to send the application link) or Start Application
Editing a final offer for a joint application
- For information and instructions on how to edit a final offer for a joint app, or remove one of the products, click here
- Editing payment frequency
- Payment frequency is the same across term and whole
- If the term life component is set to monthly payments, the whole life component must also be set to monthly payments
- The payment frequency for either policy can be changed after they are issued