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HOME OFFICE CONDUCTS
TRAINING
Submitted by William P. Seranko
Supervisor District 1 and
Anti-Money Laundering Compliance Officer
“You don’t need fancy highbrow traditions or money to really
learn.
You just need people with the desire to better themselves.”
Adam Cooper and Bill Collage,
Accepted, 2006
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(Facing Attendees
at Training Meeting) William (Bill) Seranko, presiding (First
Row: left to right) Barbara Pawlowski, Elizabeth Grabowski, Anna
Krysinski, Agnes Migel, (Second Row: left to right) Kenneth
Gill, Francis Rutkowski, Lorraine Piasecki |
This
was the case when a Home Office training session was conducted on March 28,
2009 covering the New Life Insurance Applications and Rates, Anti-Money
Laundering Policy and Procedures and Agent Ethics Training. The attendees at
the meeting were very eager to learn about the new forms and procedures that
were recently introduced to the group which included: Kenneth P. Gill -
Agent, Elizabeth Grabowski - National Director District 9, Anna Krysinski -
Agent, Agnes Migel - Membership Department Employee, Barbara J. Pawlowski -
Sales Supervisor District 17/38, Lorraine Piasecki – Agent, and Francis A.
Rutkowski - Past President PRCUA.
As a result of the mandate to implement the new 2001
Commissioners Standard Ordinary (CSO) Mortality tables, the
Polish Roman Catholic Union of America
(PRCUA)
was required to file new Life Insurance Applications and Rates of
Insurance. This was an enormous process. It covered a period of over two
years creating many State exceptions and ended up with extensive revisions
of our Life Insurance Applications, Certificates and Riders. Under the old
(1988) Mortality Tables, the Life Expectancy of an Individual was to 100
years of age. The new 2001 Mortality Tables are generated based on an
Individual living to 120 years. To many of us, this is good news -- as
long as you have your good health and the financial resources to
enjoy these Golden Years. It is said that this change of Life Expectancy is
a result of many things including our changing life style, quality of food
that we eat, increased medical advances, etc.
What
better reason to make sure that you are financially prepared for the future
with proper Life Insurance Coverage for yourself and family as well as a
well planned retirement that can be partially funded by one of the PRCUA
Annuity products.
Mr. Ozog started the Training session by discussing and
passing out some Sales Aids and Reference materials that can be used by
Agents to assist them in the generation and control of soliciting New
Business for Life Insurance and Annuity Business. As was pointed out by
Mr. Ozog, the key to a successful and productive Agent is “STP” (“No not
the racing oil treatment but SEE THE PEOPLE”) and being
prepared for the meeting with the Client by having the proper information
about the individual and the products that you are presenting.
Following Mr. Ozog’s introduction, William (Bill) Seranko
discussed the new Life Insurance Applications: Short Form for Life Insurance
requests up to $24,999 and Long Form for requests of $25,000 and up.
Attendees included individuals from Illinois, Indiana and Ohio. Since each
of these States has their own unique Applications, Riders, etc. we were able
to discuss the State variances between forms and the importance of being
properly prepared for the Sales presentation.
As we reviewed the various areas of information required on
each of the applications, numerous questions and discussions arose about the
required data that could be submitted for a respective line item entry.
Throughout the Presentation it was stressed that the more detailed the
information provided, the more efficient will be the processing during the
Underwriting review of the application. Examples of more detail include
Beneficiaries, Medical information, etc. Ultimately, this will lead to a
speedier final issuance of a Life Insurance Certificate for the Insured.
Agnes Migel gave additional comments about the various new
rate structures and how they should be calculated and applied to specific
scenarios. As an employee of the Membership Department experiencing the
processing activity, she stressed the importance of submitting legible
applications to avoid delays and the need for additional contacts before the
final issuance of the Certificate.
Bill Seranko continued the Presentation with the topic of
PRCUA’s “ANTI-MONEY LAUNDERING POLICIES AND PROCEDURES MANUAL”
which we are Federally Mandated to implement. Since 2006, all Insurance
companies that issue Annuities and/or Cash Value Life Insurance Certificates
or policies are required to follow the procedures outlined by Financial
Crimes Enforcement Network (FinCEN) - a Division of the U.S. Treasury
Department. The PRCUA is in full compliance with these requirements.
The final topic of the day’s Presentation by Bill Seranko was
a review of the PRCUA’s “AGENTS’ ETHICS MANUAL”. This
includes the process and procedures that every agent MUST follow when
representing the PRCUA in the course of selling or discussing any
products, benefits or services.
In recent months, a review of the new applications has also
been presented by Mr. Ozog during training sessions conducted on a regular
basis by Ed Muszalski - Sales Supervisor District 22.
Keeping
in mind the Life Span changes from 100 to 120 years old,
it is good to know that…
"Education is the best provision for old age.”
Aristotle (384 BC – 322 BC),
from
Diogenes Laertius, Lives of Eminent Philosophers |
