Annuity contracts are very different from life insurance policies, so Proformex has an annuity-specific module designed to help you manage and monitor annuity contracts. Read on to learn more.
Annuity-specific Data Fields
Annuities have data fields which are not included on life policies. Some of these fields are:
- Qualified Status
- Annuity Phase
- Surrender Charge Expiration Date
- Renewal Date
- Admin Fee
- Service Fee
- Income Benefit Base
- Income Mode
- Modal Income Amount
- Annualized Income
- Issue Age
Annuity Reviews
Just like you can create a Life Policy Review, you can create Annuity Reviews which you can share with your clients. Annuity Review templates can be created from the same area where Life Policy Review templates are created.
All Annuities Reporting
The All Annuities option provides a space where you can search and create Reports specific to how you manage and monitor annuities. Reports can be saved so the Report is updated as the data is refreshed.
Annuities can be searched and filtered using all the data points associated with life policies, as well as the annuity-specific data points, so you can quickly find the contracts you are looking for.
Portfolios Can Contain Both Annuities and Life Policies
Do you have clients that have annuities AND life insurance? The Portfolios section allows you to create a Portfolio Review pdf showing important contract/policy values while showing multiple policy and contract types at one time, so your clients can see all their important estate and financial information in one place.
We've worked hard to make sure that our Annuities Module is valuable to each of our customers but are always looking for ways to improve. Please reach out directly to your Customer Success Manager to share your ideas or Submit a Support Ticket with your thoughts and suggestions- we love your feedback.