Lincoln Benefit – Agent Services Change

Agent Services for LBL Life Commissions and Licensing Moving to Third-Party Administrator

 

Lincoln Benefit Life (LBL) is transferring agent-related services from Allstate to Alliance-One Services, Inc. on January 22, 2018. These changes apply to the agent maintenance, licensing and commission functions. As a reminder, Alliance-One already provides policy-related service for most of LBL’s life policies.

 

What’s Changing?

* Alliance-One will handle agent commissions for life insurance policies (excluding GenBuilder) sold by LBL agents, including policies that continue to be serviced at Allstate.

* Licensing and agent maintenance for LBL agents (independent agents in the MBA channel) will be administered by Alliance-One.

* Life commissions will be paid monthly instead of weekly.

* Life commission statements will no longer be mailed and will be available to download

from life.lbl.com.

* Broker-Dealers or agencies paying life commissions direct to registered representatives will need to download commission statements from life.lbl.com to obtain the commission activity for those representatives.

* Assignees will no longer receive life commission statements.

* For assistance with registering on the website, call 888-338-1038. For all other licensing and commission inquiries, email LBL_Comm@dxc.com or call 844-768-6777.
 

Important Dates

* January 22, 2018: Agent-related services transition to Alliance-One and new registrations on life.lbl.com are available for viewing commission statements.

* January 26, 2018: First monthly LBL life commission payment processed at Alliance-One.

 

 Commission Processing

* Commissions will be processed on the third Friday of each month, or next business day if the process date falls on a holiday; payments will be released from LBL’s bank within 3-5 business days following the process date.

* The current payment mode on file, check or electronic funds transfer (EFT), will remain in place.

* Commissions for LBL fixed and variable annuity contracts, and long-term care policies are NOT changing. 

* Any processes relating to LBL variable annuity contracts and long-term care business at LifeCare will not be affected by these changes. 

For more information, visit the News page on LBL.com.

Posted in Bulletins.