SBLI – 2021 Year-End Processing Guidelines

 

As we approach the end of the year, please keep in mind the following dates and guidelines to ensure that all of your business processes are in a smooth and timely manner.

Year – Ending Process: 

  • Underwriting will continue to approve and issue cases through Thursday, December 30, 2021.
  • All money to put new cases in force must be received by the close of business on Tuesday, December 28, 2021.
  • All 1035 paperwork including funds must be received by close of business on Tuesday, December 28, 2021.
  • All 2021 term conversion paperwork and premium must be received by close of business on Tuesday, December 28, 2021.
  • All requests for 2021 Required Minimum Distributions must be received, complete and in good order, at the SBLI home office no later than Tuesday, December 28, 2021.

Commissions

  • Regular Commission runs – Our regularly scheduled commission cycle will take place on Thursday, December 23, 2021.
  • Year-End Commission Cycle – A year-end commission cycle will also take place on Thursday, December 30, 2021. This cycle will allow us to distribute commissions for any balance, including under $200 (our current minimum check amount).
  • It should also be noted that we will continue to process all transactions (applications, policy requirements, and premium payments, etc.) received until we close for business on Thursday, December 30, 2021.

 

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