New look News You Can Use
National Guardian Life hopes everyone is keeping safe and healthy during this pandemic. For this month’s newsletter they are recapping all the changes they have made during the pandemic so you have the information and tools they’ve released all in one place.
Past Due Policy Report changed to reflect 120 days
To accommodate the recent change of their grace period for policyholders from 60 to 120 days, NGL has changed our Past Due Policy Report to reflect the longer timeframe.
The report now shows policies that are seven to 120 days past due. Policies that are within ten days of 120 days will be highlighted within the report (see picture below).
Access your NGL Report Link on MyNGLIC.com and The Past Due Report can be found under General Reports.
Document upload on MyNGLIC.com
NGL has expanded their online new business submission system so you can upload any type of paperwork to NGL electronically. Just click on the Upload Documents link under the Quick Links on MyNGLIC.com to submit a PDF file of the paperwork you need NGL to have.
Documents you can submit:
- New business applications and corrections
- Policy change documents such as payment information, policy reinstatements, policy change requests or cancellation notices
- Claims documents
- Contracting paperwork, direct deposit information, license updates or address changes
Voice Signature Option
NGL is thrilled to have received so much positive feedback on the Voice Signature Option which now includes a Spanish language option. This smartphone conferencing guide will show you how to conference on an Android or iPhone.
Free look period extension
NGL is temporarily extending the free look period for policies from 30 to 60 days. Policies issued between April 22, 2020 through July 1, 2020 will be eligible for the extended free look time frame. This means a policyholder may cancel their policy with no surrender penalty, for up to 60 days after the issue date if they fall within this time range.
Please note that policy documents will still reflect a 30 day free look period during this time. NGL will still require a signed and dated cancellation notice to be able to process a policy cancellation during and after the free look period.
Grace period extended for policyholders
To help policyholders during this difficult time, NGL is temporarily extending our policy lapse grace period to 120 days from 60 days. This means that during this time, a policy will not lapse due to non-payment until 120 days past due.
Commissions on first year policies will not be charged back until 120 days past due. NGL will continue to have the 120 day grace period in place as long as the situation continues to evolve. Should any changes occur, they will be communicated to you in advance.
Partial claims for funeral homes
If partial services are held during this time NGL will pay for services provided immediately and pay the remainder when the funeral or services are held.
If you find a family is in need of this please instruct the funeral home to indicate on the claim form next to “Cost of Funeral” that this is the situation by writing “Pending future expenses.”
Please also have the funeral home provide a possible date when services will be fully rendered so NGL can pay you for the rest of the claim in a timely manner. For these claims NGL will hold off sending any excess proceeds out until they check to see if all of the services have been paid for and held.
NGL webinar series
Thank you to everyone who has attended NGL’s webinars. Keep an eye out for new and impactful content in the future. If you are looking for past webinars click here to be taken to the webinar page. You can also find them in the agent training section of MyNGLIC.com.
Mike Stephens, retired NGL Regional Vice President passes away
It is with deep sadness that NGL shares the passing of Mike
Stephens, retired NGL Preneed Regional Vice President, on May 15, 2020. Mike retired in February 2019 after 35 years in the funeral industry and more than 10 years with NGL.
Mike was a valuable member of the Preneed sales team. During his tenure NGL benefited from his vision, leadership and knowledge. He was a kind, humble person who was gifted at turning a customer relationship into a meaningful longtime friendship.
“Mike Stephens was truly a legend in a profession that he helped create. He was one of the smartest people when it came to business, cared deeply for others, and he was a connoisseur of spaghetti, meatballs and red sauce. The industry and I lost a great friend and he will be dearly missed,” shared John Baker, NGL Vice President Strategic Partner Development.
Increased Michigan Preneed Limit
Effective June 1, 2020 the new cemetery or funeral maximum assignment value for the state of Michigan will be increased from $11,020 to $11,160.
NGL will be closed for Memorial Day
NGL will be closed on Monday, May 25 for Memorial Day. Regular business hours will resume Tuesday, May 26.
2019 Annual Report now available
Read all about NGL’s financial strength and commitment to long term planning in the 2019 Annual Report. Along with their financials it includes a message from President and CEO Knut Olson reflecting on 2019 and what changes they’ve made to ensure a bright future.
Anti-Money Laundering (AML)
If you have not completed your federally-required AML training in the past three years it’s time to do so. Click here to take the free course that takes approximately 30 minutes to complete. All agents who are required to recertify must do so by June 3, 2020 to avoid being terminated.
View Full Blog