I’m an agent who isn’t with FFL or Equis. How do I get access to IUL
Ethos IUL is not available to all agents at this time. The product is currently exclusively available to Family First Life and Equis agents.
How do contracting, appointment, and licensing checks work with Ethos IUL?
You must be contracted and appointed with Ameritas, and life licensed in the state in which your client resides. A Series 7 license is not required. The Ethos IUL platform seamlessly checks for all three requirements and supports resolution as you continue working with your client. For more information, see questions for state licensing, contracting and appointment.
How does state licensing work with Ethos IUL?
License status is checked when the app is submitted. If we cannot confirm an active life license for the state in which your client resides, you’ll be directed to the National Insurance Producer Registry (NIPR). The client’s quote & app will be saved until your state license shows as active.
Once you’re licensed, you can resume the application from the Customers tab in the agent portal.
PA: Agent license is checked prior to starting an app. If no license is found, agents can only save the quote.
How does contracting work with Ethos IUL?
Contract status is checked when you run a quote. If you’re not contracted with Ameritas, you’ll be able to initiate the process directly from the Quote results screen. You can complete and save the app, but it will not be processed until contracting is confirmed.
- Your contracting team send further instructions.
- Your response is required to complete contracting, which can take up to a week.
PA: Agents must be contracted before starting an app. If not, they can save quotes and resume the app later.
How does licensing work with Ethos IUL?
License status is checked when the app is submitted. If we cannot confirm an active life license for the state in which your client resides, you’ll be directed to the National Insurance Producer Registry (NIPR) at https://nipr.com/licensing-center/apply.
- The client’s quote & app will be saved until your state license shows as active.
- Once you’re licensed, you can resume the application from the Customers tab in the agent portal.
What level of product knowledge do I need before setting up the sales call?
Know the product mechanics and be able to answer questions accurately regarding the long-term potential benefits and considerations of Ethos IUL. Be sure you can walk your client through their illustration.
- A great place to start is the Agent Resource Center in the agent portal. Go to the Ethos IUL section where you’ll find our client guide, comprehensive agent guide, and other key materials.
- We also offer comprehensive, self-serve Ethos IUL training through the Ethos Agent Academy.
How do I tell if a client may be a good candidate for Ethos IUL?
Ethos IUL can be a fit for clients 20–65 seeking lifelong death benefit protection and cash value growth.
- Check the Ethos for Agents Playbook for up-to-date product information. See the Ethos IUL Knockout Conditions to ensure your client’s eligibility.
- Clients should have an insurable interest and be financially equipped to make the higher premiums associated with cash value life insurance. To ensure a compliant sale, see Ethos IUL: Checklist for a compliant sale.
How can I help my client be ready for the Ethos IUL app?
They will need a smartphone, table or computer with internet access. To activate coverage, they must be able to respond to email; provide HIPAA and other consent for the application underwriting; and e-sign their online application.
It’s helpful if clients can have their medical information handy, such as current prescriptions, and recent medical treatment and health conditions.
How is Ethos IUL sold?
Ethos IUL is available only via an agent-assisted sales process using the Ethos agent portal. The quote, application, and activation process are 100% digital, supported by client and agent email notifications at key steps along the way.
Can Ethos IUL be sold in a “one-call-close”?
Yes. Your client will need a smartphone, table or computer with internet access. You can continue directly from the quote to the application. Most clients are approved instantly. If they would like to purchase the policy, they will need to sign their application, review their illustration, and provide beneficiary and payment information to activate coverage. This entire process can happen in just a few minutes.
If IUL does not cover my client’s full coverage needs, how can I address this coverage gap? Can I do term stacking?
Ethos IUL can be a great supplement to existing term solutions or additional term coverage. You can fill your client’s coverage gap with a combination of Ethos IUL and term coverage, without leaving the agent portal. Start with the Ethos IUL sale, and then provide your client with a term quote for any remaining coverage gap.
How do I start a quote?
Begin a quote on the agent portal by clicking the Quoter tab and then choosing “Ethos IUL.” Enter your client’s information and run a quote. Begin the application directly from the Quote results page by clicking “Start Application.” Your client will receive an email letting them know you’re starting an application on their behalf. There, you can apply with your client, answering some medical and lifestyle questions about them along the way.
What if I want to change premium or coverage desired?
Drag the slider bar left and right to decrease or increase premium and/or coverage. At this time we do not allow agents to specify both premium and coverage.
Can I see a full ledger without downloading the illustration?
Yes, access the full ledger by clicking the icon in the top right of Quoter results page, next to “Download Illustration.” This will display current and guaranteed values for policy value, cash value, and death benefit.
How can I download the illustration?
Download the illustration by clicking the “Download illustration” link on the top right of Quoter results page. The illustration will include a customized client Policy Highlights report, ledger values, definition of contractual terms, and other details.
What is the Policy Highlights report and where can I find it?
Policy Highlights is a customized client overview of their illustration. It is included at the beginning of each illustration. You can access the Policy Highlights report when you download the illustration on the Quoter results page.
How do I share a quote?
Click “Share quote to client” on the Quoter results page. The quote will be emailed to your client.
What are my case design options?
Ethos IUL offers five case design options, including Smart Solve™, our optimized algorithm for the majority of client premium and coverage targets. In addition, we offer a maximum solve for cash value, a maximum solve for death benefit, and a retirement income case design, all accessible via the Advanced Solves section of the Quoter.
What is Smart Solve™?
Smart Solve™ is our streamlined case design tool for premium and coverage targets. Smart Solve creates an optimized illustration for the majority of clients.
- Smart Solve defaults to a 100% to the S&P 500® Index 1-Year option. Agents can override this and allocate cash value to any combination of index or fixed account options.
- Click “Learn more about Smart Solve™” on the Quoter page for more info.
How do I know which solve/case design to use?
On the Quoter page, click “Learn more about Smart Solve™” for tips on when Smart Solve is the right design for your client. You can also click on “Advanced Solve” to get more information on client scenarios that are right for each of Ethos IUL’s advanced solves.
How do I estimate a risk class?
On the Quoter, see the tool tip over “Risk class” for general rules of thumb in estimating your client’s risk class. For additional knockout conditions that apply to Ethos IUL, click the “Knockout impairments” link next to the tool tip.
How long is the application and what will you be asking?
The application takes just a few minutes, and asks a series of health and lifestyle questions. It’s helpful for your client to have their medical information handy, such as current prescriptions, and recent medical treatment and health conditions.
Can I email the Ethos IUL application to my client to complete on their own?
No. Ethos IUL is only available through an agent-assisted application. You will need to ask your client the questions on the application and enter the answers they provide you. Clients, however, need internet access and a smartphone, tablet or computer in order to review and sign the application, and review the policy illustration with you.
What are the regulations around the sale of IUL that I need to know about?
You must be contracted and appointed with Ameritas, and life licensed in the state your client resides. A Series 7 license is not required.
Automatic checks for all three requirements are supported in the Ethos IUL quote and application flow. For details, see “What are the contracting, appointment and licensing requirements for me to sell Ethos IUL?”
For important guidance around client suitability, client consent and product representation, please see Ethos IUL: Ensuring the Compliant Sale.
What Ethos IUL materials are available to me?
Comprehensive resources are available in the Agent Resource Center of the Ethos agent portal. Ethos IUL resources include an Agent Guide with complete product details, and a Knockout Impairments guide for field underwriting.
What marketing materials are available for clients?
An Ethos IUL Client Brochure is available in the Agent Resource Center of the Ethos agent portal. In addition, clients receive a customized Policy Highlights overview to accompany every illustration.
How is Ethos IUL different from other IUL products in the market?
Ethos IUL offers a truly instant IUL product, with coverage up to $1M in a seamless quote-to-activation process. It’s issued by a top-rated mutual carrier, and offers attractive living benefits such as a no-cost accelerated death benefit rider and a lifetime income option. Ethos IUL offers a Smart Solve™ case design optimized for the most common premium and coverage solves. All illustrations come with a customized client report that helps bring the illustration to life.
Are medical exams ever needed?
Medical exams are never needed for an Ethos IUL policy. All you need to do is answer the online application questions. If we need some clarifying information, someone on our underwriting team will reach out within 5-7 business days.
Is Ethos IUL 100% instant approval?
Ethos IUL is not a 100% instant approval product. However, we do expect more than half of applicants will get an instant approval decision. For remaining applicants, either the underwriting team will reach out to ask some clarifying questions, or your client will be re-routed to our TruStage Advantage Whole Life product, an instant decision product.
Can I change the quote (e.g. premium, coverage amount) after underwriting?
Yes. You can use the slider bar to adjust the premium and coverage levels post-underwriting to fine-tune the policy to your client’s exact budget and coverage needs.
What should I expect if my client’s app requires manual underwriting?
You and your client will receive emails indicating that their application is in underwriting review. Your client will be asked to review and sign their application. You will be asked to provide beneficiary and payment info from your client in the meantime.
Manual underwriting can be same-day, but may take up to a week depending on the type of information we need to verify. Once underwriters have completed the review, Ethos will share the updated with quote with you and your client.
If the actual coverage offer is higher than initially quoted, do you provide the reason why?
Yes. The reason for a coverage upgrade is visible on the coverage offer page. Click Underwriting note to view.
If the face amount is lower than initially quoted, do you provide the reason why?
Yes. The reason for a reduction in the face amount offer is visible on the coverage offer page. Click “Underwriting note” to view.
What happens if my client is not approved for Ethos IUL?
Applicants not eligible for Ethos IUL are automatically invited to apply for TruStage™ Advantage Whole Life from a top-rated carrier partner.
- This 100% instant decision simplified issue whole life product offers coverage up to $100K with just 8 health questions and an RX check.
- Applicants and their agents will receive email notification of the opportunity. The applicant’s email will contain a link to begin the TruStage application on their own.
- For more information, see our TruStage FAQs.
If my client is declined, do you provide the reason why?
Yes. The reason for a decline is visible on the coverage decline page. Click “Underwriting note” to view. In case of decline, your client will be automatically routed to TruStage™ Advantage Whole Life.
How does the underwriting compare to Ethos term products?
Underwriting conditions mirror those of Ethos Term – Prime, our most selective risk class term life insurance. For more information, please see our Field Underwriting Guide.
What is target premium? How is target premium used in determining the agent compensation?
Target premium is a premium threshold that dictates which portion of the premium will be commissioned. Any premium paid in excess of target premium will not be commissioned. For example:
- First monthly premium: $50
- Target premium: $40
- Commission rate below target premium: 140%
- Commission rate above target premium: 0%
- Commission on first month premium: ($40 x 140%) + ($10 x 0%) = $56
- Apply the same calculation for each subsequent month in the first policy year.
How can I increase the target premium?
Target premium is directly proportional to the face amount. The higher the face amount, the higher the target premium.
Where can I find the target premium number for each policy?
Target premium is listed at the bottom right of each page of the illustration, before the backslash. For example, in the following illustration, the target premium is $8340.00.
How often will I get paid?
Agents get paid the day after the policy effective date, even if premium has not been received (as long as not forward dated). Agents can also do real-time earnings tracking in the Ethos agent portal.
Does Ethos IUL offer any compensation advancement?
Yes, we offer nine months advance commission to most agents.
What is the chargeback (clawback) policy?
There is a 100% commission chargeback if the policy lapses within the first six policy months. Chargeback will be prorata between policy months seven and nine. Chargebacks are not applied beyond policy month nine.
Do you offer residuals?
At this time, we do not offer any residual commissions/renewal commissions on Ethos IUL.
Who is the carrier?
Ethos IUL is issued by Ameritas Life Insurance Corp., a top-rated mutual carrier with more than 130 years of claims-paying history. For more information about Ameritas, visit Ameritas.com.
What are the indexed accounts available for Ethos IUL?
Index account available for Ethos IUL include:
- S&P 500® Index — 1 year
- S&P 500® Index — 2 years
- S&P 500® Sector Rotator Daily RC2 5% Index — 1 year
- BNP Paribas Momentum Multi Asset 5 Index— 1 year
- BNP Paribas Momentum Multi Asset 5 Index — 2 years
- Fixed account — current rate at 3.90%
What are the current index account rates?
Index account rates can fluctuate. A current rate sheet can be found in the IUL section of the Agent Resources Center in the agent portal.
What is the illustrated rate?
Illustrated rate is the rate used to project the policy performance. Each indexed account has an illustrated rate. The higher the illustrated rate, the higher the projected return. Illustrated rates are capped at regulatory limits. The portal currently only supports illustrations at maximum illustrated rates. We will build out capability in a future release that allow you to illustrate policy performance at a lower rate.
What is the maximum face amount for Ethos IUL?
Up to $1,000,000 in death benefit coverage is available for applicants ages 20–50.
What risk classes are available for Ethos IUL?
* 4 non-tobacco
- Preferred Plus Non-Tobacco
- Standard Non-Tobacco
- Select Non-Tobacco
- Table ratings 1-10
- Preferred Tobacco
- Table ratings 1-10
What riders are included with Ethos IUL?
Included at no cost:
- The Care4Life Accelerated Death Benefit rider, providing early access to a portion of the policy’s death benefit for 18 covered critical, chronic and terminal health conditions. Applicants not eligible will be issued the Accelerated Benefit for Terminal Illness.
- The Lifetime Income rider, providing a guaranteed stream of payments for life.
- The Ethos Perks rider online estate planning tools; not available in WA or SD.
For details, see the Ethos IUL Agent Guide.
What add-on riders are available?
Included at an additional cost:
- The Accidental Death Benefit rider, which pays additional benefit if death is accidental.
- The Waiver of Specified Premium rider, which credits a specified amount of premium to the policy if the insured is disabled.
For details, see the Ethos IUL Agent Guide.
What is the Care4Life rider?
The Care4Life Accelerated Death Benefit rider provides early access to a portion of the policy’s death benefit for 18 covered critical, chronic and terminal health conditions for qualified applicants. It is available with all Ethos IUL policies at no cost, but there is a one-time fee for activation. If the applicant does not qualify, they will be issued the Accelerated Benefit for Terminal Illness rider instead. See the Agent Guide for more details.
What is the Lifetime Income Rider?
The Lifetime Income rider converts the cash value into a monthly income that lasts for the remainder of the policyowner’s life. The Lifetime Income rider is included at no additional cost with all Ethos IUL policies, but there is a one-time fee for activation. See the Agent Guide for more details.
How will the policy be delivered?
The policy will be delivered in digital form via email from Ethos. The policyowner must open the policy packet via the link in the email or they will continue to get reminders.
How is the policy servicing for Ethos IUL different from Term?
Unlike with our term policies, all policy servicing for Ethos IUL is handled by Ameritas Life Insurance Corp. Ethos IUL policyholders will have access to Ethos’ member portal, to take advantage of Ethos Perks estate planning tools.
If the client wants to make changes to the IUL policy, who should they contact?
All policy servicing and post-sale support for Ethos IUL is handled by Ameritas. They can contact Ameritas at 800-745-1112.
How soon can my client borrow or withdraw from the policy’s cash value?
They can borrow or withdraw from the policy’s cash value as soon as there is sufficient cash value. The timing depends on the case designed. As a general principle, we do not encourage your client to withdraw or borrow from the policy’s cash value in near term as it can severely impact long term growth potential.
What happens if my client has a hardship and can’t pay their premium?
They should contact Ameritas at 800-745-1112 to discuss the possibility of reducing or pausing premium payments.
What happens if the policy lapses?
Ameritas will contact the policyowner before policy lapse in an effort to prevent such a scenario. However, if the policy lapses, the client should contact Ameritas to discuss options for reinstating the policy.
What if my client needs to file a death benefit claim or exercise a rider (e.g. exercise the Care4Life rider or report death of insured)?
They should contact Ameritas at 800-745-1112 for all policy servicing and post-sale support for Ethos IUL.
How can Ethos IUL create supplemental retirement income?
Policyowners can access the cash value in retirement a few different ways: through policy loans and withdrawals, or by exercising the policy’s Retirement Income rider. To exercise this rider, they should contact Ameritas.
This rider converts the cash value into a monthly income that lasts for the remainder of the policyowner’s life. The Lifetime Income rider is included at no additional cost with all Ethos IUL policies, but there is a one-time fee for activation.