Pending Lapse


             

             

Name (optional): 


A red asterisk (*) indicates required questions.

  1. The client is calling to see if they can stop paying their monthly PAC premium for 3 months. The policy is still in its 5 year NLG period, there is not an NLG Rider, and the policy has only been in force for 22 months. The NLG annual premium is $1,200 ($100/month) and the client has paid a total of $3,000. Can they stop paying premiums?*
    No, they must pay the minimum monthly premium of $100.00.
    Yes, they have met the NLG premium and may discontinue payments for 3 months.
    Undetermined. Refer the caller to the Illustration team.


  1. Do you know how to tell the difference between a policy in pending lapse for cost-of-insurance verses minimum premium? *
    Yes
    No


  1. Do you feel comfortable explaining to a customer why their policy values are now not sufficient to cover cost-of-insurance? *
    Yes
    No


  1. Can the policy owner pay less than the late pay offer?*


  1. Describe a pending lapse situation, that you struggle to help the customer understand.*


  1. What system do you find more difficult?*


  1. Other Comments:





Aviva Canada Learning and Development
Aviva Canada
Scarborough, ON