Agent Guide | Short Term Care
ManhattanLife
Amendments/Endorsements An Amendment and/or Endorsement to the application will be generated for the following reasons: • Any question left blank or answered incorrectly (as determined by a telephone interview). • An error or unclear answer for the plan selection and/or underwriting risk classification. • An error or unclear answer for the date of birth, sex, and/or address. • An error or unclear answer for the modal premium. Withdrawn Policies Applicants who wish to withdraw an issued policy can return the insurance policy indicating they do not wish to keep the insurance policy or may be in the form of a signed letter or other signed written statement. An applicant with a withdrawn insurance policy should be encouraged to return the insurance policy. To receive a full refund of premium, the request to not take the insurance policy must either be post- marked (if sent via mail) or received by the Company (if faxed) within the 30-day free look window. A full refund of the premium for withdrawn insurance policies will be processed 21-days after the date the check was deposited (to ensure the check has cleared the bank). If the applicant requests the refund prior to that, the applicant’s financial institution will be contacted to verify the check has cleared. The refund check and a letter confirming the insurance policy was withdrawn will be mailed to the applicant. A copy of the letter will also be mailed to the writing agent. **Any commissions paid to the writing agent(s) will be reversed. Methods of Payment
The method of premium payment should be selected on page 5 of the application with the modal premium written in the designated field. The modal premium does not include the insurance policy fee (if applicable). The available premium payment modes are as follows:
The amount of each modal premium is calculated by multiplying the annual Policy premium by the applicable modal factors. The modal premiums for Your Policy are shown on the Policy Schedule. Premium Payment Mode Modal Factor Semi-Annually 0.52 Quarterly 0.25 Monthly 0.0833
Direct bill* Annual Semiannual Quarterly
Bank Draft Annual Semiannual Quarterly Monthly
**ManhattanLife 2.0 defaults to Monthly.**
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AGT-STC 0125
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