for Agents
Licen s ed l ife a gen ts o n l y. Agen ts ar e r eq u i r ed to a c t wi t hin t he s c o pe o f t hei r l icen s e. C o mmi ss i o n s ar e p a y a b l e to l icen s ed l ife in sura nce a gen ts o n l y. D o n ot di str ib ut e.
Terminated
Portal Status
What does this mean?
What actions can you take?
Contact your client, find out what happened, and see if you can help them with a new application or work with them to submit a reinstatement application.
Lapsed
Coverage terminated due to lack of payment.
Policy is closed after 30 days of initial premium failure if the client does not provide new billing information.
Contact your client and check to see if they are still interested. If so, help them start a new application!
Closed
Policy owner requested to cancel their coverage within the free look period. A refund will be processed.
Contact your client, find out what has happened, and see if you can help them with a new application.
Free Look Canceled
The policy has been rescinded due to material misrepresentation on the application. The client should have received a letter explaining why the policy has been rescinded.
Reach out to your client, and let them know about the situation if they are not aware.
Rescinded
This policy has been canceled and coverage is no longer in force.
Canceled
H elp your client find new coverage.
H elp the beneficiaries with any follow ups from the carrier ( if any ) and o ff er your support to the family during this di ffi cult time.
The carrier has received the death claim and will promptly process the claim.
D ea th Clai m P endin g
Reach out to the client to see if there is anything they can do to support the family during this di ffi cult time.
D ea th Clai m
A death claim has been submitted.
Reins t a t e m en t A pplica t ion P endin g
Policy owner has applied for reinstatement of their coverage. Application is being reviewed by carrier.
Wait until carrier review is complete.
M a tu red
This policy has matured and is no longer in force.
H elp your client find new coverage.
D epending on the contract, coverage may still be available but at a di ff erent premium based on their current age and health.
The initial term of the policy expired and the insured did not renew.
T er m Ex pired
Contact the client and help them look at new policy options if coverage is still needed.
This policy has been surrendered and coverage is no longer in force.
Contact your client, find out what happened, and see if you can help them with a new application.
Su rrendered
The initial premium was never received or the policy was not accepted by the client.
N o t T aken
Work with your client to start a new application.
The policy has terminated due to lack of payment. H owever the carrier will reinstate the coverage automatically if the payment is received prior to the end of the L ate Off er Period.
Contact the client immediately and help them update their billing information.
La t e Off er P eriod
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