A great reason to reconnect with customers for policy review opportunities
The Term-2-Term exchange program gives existing Legal & General America customers a valuable option to exchange policies and restart coverage for a longer duration with no medical evidence needed. If the policy meets the eligibility requirements, issue is guaranteed.
How does the program work?
The Term-2-Term exchange program allows Legal & General America customers who purchased OPTerm 10, 15, 20, 25, 30, or 35 within the past 48 months to trade up to a longer duration policy at their current attained age* with no underwriting. The replacement policy will be a new issue, with full coverage, not adjusted by the duration the original term policy was held.
- Premiums - based on attained age, nearest birthday
- Underwriting classes - all risk classes, including rated policies
- Exchange form - must be received within 48 months of original policy effective date
- Face amount - must match original term policy and be within retention limits
Please note, only one exchange per policy is allowed.
Benefits and highlights
Customers sometimes need reminding that coverage needs to last as long as their longest financial burden, that premiums increase with age, and that health issues can affect underwriting decisions.
- No medical evidence needed - includes rated cases
- Full commissions are paid on Net Premium Increase
- Conversion alternative
- Experience a fast and easy process
- Speak with your clients about new policy review opportunities
- Longer duration policies available 35 and 40-year term
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