|To Our Valued Agents and IMO Partners, |
F&G is Here to Help in Uncertain Times
The past few weeks have shown us that “business as usual” can be incredibly vague. Our primary concern is the well-being of our employees, trusted producers and partners throughout the industry. Given that business is anything but usual, this past week F&G implemented some important and critical new processes in an effort to help you manage your business and service your clients during this trying time.
I am happy to share the following enhancements to our sales requirements, new business processes and aid to our existing clients:
On April 1, we expanded our Accelerated Underwriting Program for our Life business to include flexible options in areas where paramedical exams are not available. Our medical professionals are working tirelessly to help those most affected and F&G recognized that our standard practices are not feasible during this time of great need.
F&G continues to support virtual sales for all resident sales (both life and annuity), and we have updated the training available on SalesLink®.
F&G also supports remote delivery1, as we recognize that social distancing may create challenges for how you deliver policies to your clients.
For our existing clients, F&G understands the impact that COVID-19 is having on our nation and will work with each state’s Department of Insurance to accommodate any relief extended to our policyholders. This may include additional time to make life insurance payments to prevent a lapse in coverage.
Additionally, we have published a few FAQs to help both our producers and clients with questions and concerns.
Finally, we wanted to make you aware of the most recent federal program which may help many of our partners. The CARES Act expands the availability of small business loans under Section 7(a) of the Small Business Act to include the new Paycheck Protection Program. The proceeds of these loans may be used for payroll costs, mortgage interest, rent, utilities and interest on certain other debt. Up to 100% of these loans may, subject to certain restrictions, be forgiven. We have summarized the program here.
We are proud to serve as your partner in helping clients through these uncertain times. Thank you for your continued partnership. Together I’m confident we will navigate our way through this. Sincerely,
|Bonnie Wasgatt Executive Vice President, Chief Operating Officer|