Effective today, Zurich is requiring home office approval on any case that has an illustrated premium of $500,000 or above in a given year. iPipeline and WinFlex Web have been updated with a revised warning message that will appear advising the user of this requirement. The warning will appear any time a premium of $500,000 is either solved for or inputted in any year.
For premiums between $500,000 and $1,000,000, home office approval may be subject to an alternate compensation schedule agreement.
For premiums that are $1,000,000 and above, the Monthly Automatic Transfer feature is still required. An alternate compensation schedule may also be required.
In order to request home office approval, please submit the illustration to your Field Marketing Consultant who will route the illustration for approval.
Transition Rules:
- Illustrations run prior to May 17th, 2017: For illustrations with annual premiums less than $1,000,000, home office approval is not required. Home office approval is still required for cases with a premium of $1,000,000 or above in any year.
- Illustrations run on or after May 17th, 2017: For illustrations with annual premiums less than $500,000, home office approval is not required. Home office approval will be required for cases with a premium of $500,000 or above in any year.