Tips for Submitting Business-Owned Applications

Use the following tips to ensure your business-owned applications are received in good order and new policies are issued as quickly as possible

• Utilize our Business and Advanced Solutions and Business Market Administration teams to assist you with design, implementation, and administration of an effective plan.
• Submit the Business Case Submission Checklist (DD 849 R-4) with each case and a cover letter if appropriate. Note any special dating requirements or common policy dates.
• We require a person other than the insured sign as the owner on a business-owned policy, including their title. Use a separate email and cell phone number for the owner. If there is no one else that can sign for the business (officer, partner, etc.), the insured should provide a statement to this effect on company letterhead or from a business email account.
• The Know Your Customer Questionnaire (DD 9540-1) is required on each business-owned case.
• A fully completed Consent to be Insured (CC 324) form is required prior to issue.
• Submit any additional necessary forms such as collateral assignment, split dollar agreement, financial statements, or Norris letter.
• Reference the policy number on any wire or check.
• Dependent on state and/or federal law, personal information of the insured, including health history, will be made a part of the policy, which will be delivered to the policy owner.