eNoah’s illustration support service, led by an executive professional who understands your needs based on over 20 years of experience in the US life insurance industry, provides illustration support for Term Insurance, Whole Life Insurance, Universal Life Insurance, Disability Insurance, and Long Term Care. The number of reports generated per day depends on various factors, such as the number of scenarios requested and the kind of product, but turnaround time for the vast majority of illustrations is 24 hours. Almost 98% are completed during the same business day, and day-end orders are delivered before the start of the next business day. By leveraging our support, you can improve profitability, process efficiency, and cash flow while reducing cycle time and cost.
We typically support around both Basic/Regular and In-Force illustrations, but can also support supplemental and LIRP illustrations.
Annually, carriers may choose to provide, or the owner may request, periodic updates on a policy’s performance. These updates are provided in the form of in-force illustrations, which are similar to the basic illustration in almost every way, including the listing of the insured’s age, the issue age, and the number of years the policy has been in force. The illustration will show exactly what has happened from the initial policy inception to date, with future projections based on current assumptions.
In-Force illustrations are extremely important tools for evaluating the performance of any given policy over time. If a policy has not performed to the level originally anticipated, changes can be made to improve future performance. In-Force illustrations enable intelligent policy adjustments that can make the difference between a strong insurance policy and a policy that lapses due to poor performance.