The Most Common Mistakes When Submitting Life Insurance!

Proposed Insured (this information is incomplete on 32% of all cases received)

• Occupation and Duties
• Proposed Insured Earned Income
• US Citizen/Resident Alien
• Drivers License Number
• Subject to Back-up Withholding

EFT (incomplete on 25% of all cases)

• Account Owner Name and other EFT data

Beneficiary/Owner (incomplete on 23% of all cases)

• Owner SSN#/TIN
• Beneficiary Class
• Relationship of Beneficiary
• Type of Beneficiary Trust

Coverage (incomplete on 9% of all cases)

• Purpose of Insurance
• Existing Insurance Type and Amount

Replacement (incomplete on 5% of all cases)

• Do you have any information, other than stated in this application which indicates that any proposed insured may replace or change any current insurance or annuity in any company?
• Other Replacement Questions

Premiums (incomplete on 4% of all cases)

• Premium Payment Mode
• Source of initial/future premiums (incomplete on 1% of all cases)

Reinstatement

• Reinstatement Amount
• Reinstatement - Insurance company