Newswire: New feature! Ticker on Sales Weeks displays current new business processing times

STAY UP TO SPEED ON NEW BUSINESS PROCESSING TIMES

For you and for EquiTrust, helping even more clients prepare for the future is a great thing — and as you know, the annuity business is booming. As a result, we’re working hard to help you help your clients.

In the spirit of transparency, we're keeping you in the loop about our new business processing times. Now, at the top of all our Sales Week emails, you’ll see a new business processing “ticker.”

According to LIMRA, in the first quarter of 2023, every fixed annuity product line recorded at least double-digit growth and achieved record sales. In fact, LIMRA projects annuity sales to surpass $300 billion this year.¹

What does the ticker measure?

With one quick glance, you’ll know what our current processing times are for in-good-order business — all the way from application received to the time when we either issue the contract or request the transfer money.

What’s our standard?

We strive to process all in-good-order new business in less than eight business days. There may be times when processing is quicker and times when it takes a little longer, depending on the business load.

Knowing the current range can help you set expectations with your clients.

Application processing roadmap

The new business process depends on the paperwork and how it’s submitted. There’s a core roadmap, but detours along the way can affect the amount of time it takes to process an application.

How can you help ensure you're submitting in-good-order business?

Submitting applications via E-App is one easy way to help you avoid common not-in-good-order (NIGO) errors. Following the tips in this checklist can also help ensure you've submitted in-good-order business.

Verify that all information is correct and current.

Make sure changes or corrections are initialed and dated by the client.

Provide the correct agent writing number (should not be an agency number).

If applicable, include completed and signed transfer paperwork and/or additional funds.

Confirm that all documents have the proper signatures.

Get more information about submitting in-good-order business:

EquiTrust Business Guidelines

Checking on submitted apps

Did you know?

We post all contract notes in real time on the Agent Gateway (behind the agent login).

If you have the EquiTrust Agent App, you can get notifications and contract notes about submitted new business.

We’re happy to answer any questions you have about submitting new business. Call us at (866) 598-3694.

866.598.3694 • [email protected] • Agents.EquiTrust.com

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¹“LIMRA: Another Record-Breaking Quarter for U.S. Annuity Sales”; 5/2/2023; LIIMRA; https://www.limra.com/en/newsroom/news-releases/2023/limra-another-record-breaking-quarter-for-u.s.-annuity-sales/; accessed 6/13/2023.

EquiTrust does not offer investment advice to any individual or agent/producer and this material should not be construed as investment advice. Products underwritten, issued and distributed by EquiTrust Life Insurance Company, West Des Moines, Iowa.

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EquiTrust

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West Des Moines, IA 50266