Coverpath currently supports trust-owned policies. It's highly recommend to start the application on behalf of the client to ensure the ownership is set up properly. See below steps on this process.
How to Create a New Trust-Owned Case
Select the Trust dial and enter the trust information as requested. Continue filling out the rest of the quote, and then select Start Application.
- While in the application, go to the Insured Information section. Click the drop down on the question "Who will be the insured?" and scroll to the bottom. Select the option that best applies: Trust Beneficiary, Trust Grantor, or Other Trust. Continue to fill out the rest of the section as it applies to the insured.
- Go to the Owner Information section. Click A Trust or Entity as the answer to the question "Who will own this policy?". More questions will populate in this section - answer them as they relate to the trust.
- While in the Owner Information section, the first trustee's information that you enter will be the person to receive the application link, review the information, complete any missing information, and submit the information on behalf of the insured. All additional listed trustees and insured will also be required to sign the application after it has been submitted.
- All parties that are required to sign (trustees and insured) will receive an email to e-sign once the application is submitted. Please verify their email addresses on the Verify section before sending the application link to the client.
- Once the application is completed to your choosing, click on the yellow button Ready to Send on the bottom left corner. For more detailed instructions from this point, click here.
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