Cigna values the time you invest in promoting their products to your customers. As previously announced, Cigna implemented new operational changes for their Final Expense product beginning August 1, 2018 to draft the premium on policy issue. They will begin drafting premium for all remaining products starting August 15, 2018. Cigna feels strongly that this change will help reduce policy cancellations and provide peace of mind to your customers.
- Draft on Issue – Currently, Cigna allows for policies to be drafted at the time of the effective date of the policy. The new policy will be to draft at the time of policy issue. This change will go into effect on August 15, 2018 for all remaining products.
All paper applications must use an EFT form dated 3/18 or later. The app packets that are currently available through Supply already have a 3/18 or later date. Cigna will not accept FE paper applications with old EFT forms after 8/1/18 and they could be returned to the agent if they are not using the updated form.
Note: Advance commissions are only paid on bank draft business and only at the original activation of the policy.
For more information please review Cigna’s FAQs.
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