2024 Underwriting / New Business Deadlines
What are Lafayette Life’s year-end cutoff dates for 2024?
At Lafayette Life, we understand how important it is to get your clients’ policies in-force as soon as possible — especially before the year’s end. That’s why we’re making the following promise to you:
- Approved applications with all requirements received in good order by December 16 are guaranteed to be issued by the end of the year in order to allow you, our valued producer, the opportunity for placement before the year-end cut-off dates for 2024.
- December 30 is the cutoff for paid business to count toward 2024 commissions paid on December 31 (and to count for the 2024 tax year).
- December 31 is the cutoff for paid business to count toward earned 2024 sales credits.
So, what does “in good order” mean?
In good order by December 16 means that Lafayette Life must have all underwriting requirements/documents for approval and payments/delivery requirements needed to make a client’s policy active once it is approved — from a completed application and medical information to an initial premium payment.
This makes it more important than ever to submit your applications in good order! As a reminder, e-Applications, submitted via iGO®, help speed up the initial underwriting review by 1-2 days and ensures in-good-order submissions.
What about applications submitted after December 16?
We promise to do our best to help you meet your year-end goals; however, any applications submitted after December 16 (or any applications submitted prior to December 16 that are not in good order, or incomplete) are not guaranteed to be issued in time to meet year-end cutoff dates.