What are your persistency warning & termination guidelines?

How is the persistency rate calculated?

Persistency rate = A/B

A = Number of policies (net of free look surrenders, policies with initial payment failures and rescissions) activated between 2 and 14 months ago, that persisted at least 2 months

B = Number of policies (net of free look surrenders, policies with initial payment failures and rescissions) activated between 2 and 14 months ago

Here are the numbers to use when calculating persistency by month:

• 2 month: X=2, Y= 4
• 3 month: X=3, Y=15 
• 4 month: X=4, Y=16
• 7 month: X=7, Y=19
• 13 month: X=13, Y=25

Where can I monitor my current persistency?

Monitor your current persistency metrics from the agent portal Homepage and Performance Tab from an individual agent or hierarchy view.

Do you provide any resources to help increase my persistency?

Yes, we do! Here are a few ways we help you stay on top of your persistency and manage it more efficiently:

1. Client status cheat sheet: An important resource that explains what each of our policy and application statuses mean, and what next steps you can take.
2. Updating your client’s payment method: Update payment information for clients whose policy statuses show Initial Premium Failed, Grace Period, and Late Offer Period directly from the agent portal. Watch our video tutorial to learn how.

3. Email notifications: We’ll notify you when important changes happen to your client's policy.

   1. Your client's initial payment failed
   2. Your client’s policy status shifted from Premium Paying to Grace/Lapsed
   3. Your client’s policy Status shifted from Grace/Lapsed to Premium Paying
   4. You’ve successfully/failed to update your client’s payment info