Due to regulatory changes in the industry, North American Company
for Life and Health Insurance will be updating their Contract Application to better meet the needs of their distribution partners. The changes will be effective this Thursday August 24th 2017.
We are excited to announce some additional changes that will help further streamline the contracting process. Specifically for those agencies that have different hierarchies for each product line (Life & Annuity).
Changes will
include:
- A NEW Annuity specific Transmittal (See attached)
- NEW Life specific Transmittals for both the MGA and IMC channels (See attached)
- Separate hierarchy structure for schedule settings by Line of Business (LIFE and ANNUITY). A screenshot is attached for quick review.
- Separate Signature selections, for the IMO (Distributor), by Line of Business (LIFE and ANNUITY).
- Distributor checkboxes will be removed from the schedule
settings as the "Distributor" is now defined as the Top IMO within the hierarchy. Forms will be mapped accordingly to provide the IMO hierarchy details in all "Distributor" fields.
Any current schedules you have will be mapped over to the "LIFE" specific hierarchy settings. After the changes have been added on 8-24-2017, please take a moment to add any settings needed under the separate ANNUITY hierarchies.