Here is a glossary of terms related to Core applications and cases:
Carrier/Product Information
Signed State: The location where the application was signed.
Signed Date: The specific date when the application was signed.
Resident State: The state in which the client lives.
Plan Type: The category or type of the product.
Plan Name: The specific name of the product.
App Type: The method by which the application was submitted.
Rider Information
Rider: An additional provision added to the policy that provides extra benefits or coverage.
Underwriting Class
Class: The UW class available on a carrier will be available to select from the dropdown menu
Table Rating: This applies to applicants who fall into a substandard underwriting class.
Flat Extra Amount: An additional premium charged on top of the standard premium.
Flat Extra Years: The period during which the flat extra amount is applied.
Offer Type: The type of insurance offer made to the applicant.
Cash With App
Amount: The specific sum of money associated with the application.
Method: How the payment is made.
Fund Source: The origin of the funds used for the payment.
Rate Lock Details - Annuities
Guaranteed Rate: The interest rate that is assured and will not change for the duration specified under the rate lock.
Rate Hold Duration: Choose the specific period for which the rate lock will be in effect.
Estimated Rate Lock Date: The estimated date for when the rate lock begins.
Initial Interest/Term: The interest rate or term that applies at the start of the policy.
Guaranteed Rate Lock: The actual date for when the rate lock begins.
Benefits - Disability
Benefit Amount: The specific sum of money paid out to the insured.
Benefit Amount Lump Sum: A one-time payment of a specified amount provided to the insured.
Facility Elimination Period: The waiting period that must pass after a disability occurs before the benefits begin to be paid.
Guaranteed Insurability: A policy feature that allows the insured to increase their coverage amount.
Rate Details - Linked Benefit
Guaranteed Rate: The fixed interest rate that is assured for a specific period.
Initial Interest: The interest rate applied at the beginning of the policy.
Term: The duration for the interest rate.
Benefits - Linked Benefit and Long Term Care
Facility Type: The type of care facility covered under the policy.
Home Healthcare Type: Home-based care services covered under the policy.
Benefit Amount: The specific amount paid out for the care.
Elimination Period: The waiting period before benefits begin.
Benefit Period Duration: The length of time that benefits will be paid for under the policy.
Case Details
Purpose of Coverage
Policy Date: The effective date of the policy, marking the beginning of coverage.
Policy Issue Date: The date the carrier formally issues the policy.
Inforce App Date: The date when the carrier puts the policy In-Force.
Submit to Carrier Date: The date the application is sent to the carrier for review.
Open Date: The date when the case was initiated in the system.