Weekly Tip: Application Submissions


Weekly Tips

Application Submissions


Application submissions comprise a vast majority of the product filing submissions that the Insurance Compact receives – over half of the submissions received year-to-date include an application. For this week, the Insurance Compact would like to remind you of a few key things to keep in mind when filing an application.

First, please identify which policies the application will be used with along with other product components. Having this information included in the Filing Description will make the filing review more efficient – the more information included, the fewer questions to be asked during the review process. Additionally, the Intake Coordinator will require this information to verify state filing fees have been properly paid. You should also complete View Associated Filings to list any filings containing policies or other forms the new application will be used with, as well as any previously approved applications being replaced by the new application.

Second, if you are utilizing the mix and match process when making this submission, please remember that Montana and Oregon require all information regarding the state product components to be included on the Statement of Intent Schedule within the product filing submission. Note that if the information is not included at the time of submission then an objection will be issued requesting that the information be provided. Otherwise, all states except Montana and Oregon accept a summary of state-approved products being used with the new application on the Statement of Intent by using “all indicated whole life insurance policies,” for example.

If you have any questions regarding application submissions or the Insurance Compact, please contact the IIPRC office.