New Business

Frequently Asked Questions

Who will order the medical requirements?
When you complete the AMS New Business Transmittal be sure to indicate whether you are going to order the exam, or you would like AMS to order the medical exam requirements for you.

Who will order the APS?
Normally the carrier will order the APS if needed, or ask AMS to order it for the client. Once the request is processed for the APS, (by the carrier or AMS) status is checked frequently to prevent unnecessary delays. The copy service companies used to obtain the records are very familiar with the procedures at most physician’s offices, however it does not shorten the turn-around time which is usually anywhere from 2 to 4 weeks. There may be an occasion on a time-sensitive case that we will ask the Agent to get involved to obtain the APS from a physician.

What is the underwriting process & how long does it take?
It’s difficult to say. If a fully completed application is submitted, and your client is ready to take their exam and schedules all requirements in a timely manner, the case can sometimes be underwritten in 3-4 weeks.

Exam results are usually received by the carrier a few days after the exam is completed. Case will then go to initial review and additional carrier requirements will be requested if necessary. Final underwriting decision can take from a few days to two weeks depending on carrier backlog.

If medical records (APSs) are required by the client’s physician(s), this process will add time to a case depending on the doctor’s office and how quickly they respond to the request for records. For this reason it is very important to get a complete medical history for your client, so there are no surprises when the underwriting process starts.

I received the policy, but I still haven’t been paid on the case – how long does that take?
First of all, be sure that all delivery requirements have been sent to the Carrier. Policy delivery receipts, bank draft forms, amendments, premiums or balance of premiums, etc. must be received by the carrier before it is sent to be processed for commission payment. In addition, depending on how you are being paid, (direct deposit or check), different companies pay on different schedules. Most companies pay once or twice a month, some more frequently if you have chosen to have your commissions directly deposited to your account. Check your carrier contract or call the carrier direct to find out your commission payment schedule.

I would like to submit an application for a policy, but I don’t have my license yet – what can I do?
In many cases your contracting paperwork can be submitted with your client application. Contact our Licensing Department at (888) 303-8755 to see if that particular carrier and/or state permits this procedure. If it is permitted, just put “pending” in the area of the “Agent’s Report” where it asks for your agent contract number.