Licensed life agents only. Agents are required to act within the scope of their license. Commissions are payable to licensed life insurance agents only. Do not distribute.
Policy Status
In-force
Portal Status
What does this mean?
What actions can you take?
Premium Paying
Policy is in good standing and coverage is in force.
Many agents check in on their clients annually to see if anything has changed — a bigger house, a new member of the family, or other significant events.
Pro Tip: Use this opportunity to ask if their spouse, friends or family need coverage.
Pending Contract Generation
The application documents have been received and acknowledged by the carrier. The carrier is now generating the policy contract for the client. The policy's recurring premium payment failed. Your client must update their payment information or the policy may lapse. This policy is in process of being re - issued with new contract terms. This typically happens when the policyowner wants to make a change within the free look period without reapplying.
No action required.
Renewal Premium Failed
C ontact your client and help them update their billing information.
Pending Rei ss ue
No action required.
Renewal Premium Proce ss ing
The policy is in - force. The recurring premium's ACH debit is processing.
No action required.
Pending I nitial Premium The policy is in - force but the initial premium ACH payment has not cleared yet.
C ontact your client, let them know that payment is pending, and answer any questions they may have !
Grace Period
The most recent payment has not been received and the policy has entered the grace period. C overage is active but if payment is not received by the end of the grace period, coverage will be terminated. The carrier is auditing this policy for material misrepresentation in the application. I f misrepresentation is discovered, the policy may be rescinded - meaning premiums are reversed and commissions are charged back. The policy owner has requested to cancel their policy. The policy will remain in force and be canceled right before their ne x t scheduled payment.
C ontact your client, find out what happened, and see if you can help them update their payment information.
A udit Pending
H elp your client find new coverage.
S c h eduled Cancellation
H elp your client find new coverage.
Pending Con v er s ion
This policy is being converted to a permanent product.
No action required.
agents @ getethos.com
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