The William Penn Association Simplified Issue offer is back!

The WPA Simplified Issue offer is back!

William Penn Association Officers and Board of Directors are pleased to announce the return of the “WPA Simplified Issue Single Premium Whole Life Special!”

Identical to last year, the issue ages of this special offer will be 0 to 75 with a minimum face amount of $2,000 and maximum face amount of $10,000 for issue ages 0 to 65, and $5,000 for issue ages 66 to 75 – age nearest birthday. The Simplified Issue campaign will run from June 15th through September15^th 2022. All applications must be dated between these dates to qualify for this special offer. (See the attached flyer and sample application)

Although this special offer is available to qualifying prospects with “no health questions asked” - the member authorization (page 3 of the life application) and MIB pre-notice must be submitted for MIB processing.  The MIB will be checked to verify that the prospect has not been declined or refused a table rating since January 1, 2021.

Due to the special underwriting features associated with this offer, please be aware of the following guidelines:

• Similar to the Ordinary Life Senior Special, dividends are not anticipated for certificates issued under this special offer. To accommodate this change, the SPWL software has been updated to include an option for the SI/SPWL. Choosing this option will eliminate the dividend/non-guaranteed elements of the illustration. Guaranteed cash values will remain the same as the traditional SPWL certificates. A signed illustration or non-illustration compliance form must accompany the application. The updated illustration software can be downloaded from the agent’s portal of the website www.wpalife.org by clicking on the Agents tab at the top of the page and inserting the password @g3nts709. (without the period at the end) Scroll down till you see the green box titled “SPWL Illustration Software.” You may receive an error message when attempting to download the program – this is normal. Click on the “more info” link – then click "run anyway” - the software is safe to download.  Here is a screenshot of the updated software entry point:  

*Please be sure to use the correct illustration associated with this offer. 

• Although regular commissions (based on your agent contract) will be paid for this special offer, commissions on all sales of the SI/SPWL special will be subject to 100% chargeback to the agent in the first 12 months and 50% for months 13 to 24 for any cash surrenders, withdrawal of funds, or death of the insured for any reason other than accident. The attached addendum must be completed, signed and submitted with your first case.
• The WPA Simplified Issue Single Premium Whole Life flyer must be completed and returned with the application to attest that the proposed insured has not been turned down or refused a table rating by WPA or any other carrier since January 1,2021.
• The full single premium must be submitted with the application. The special 3-year financing option is not available for this offer.

WPA “Annuity only” agents: 

Many WPA agents have only sold annuity products in the past. Have you been waiting for a Guaranteed or Simplified Issue program to offer your “Annuity only” members life insurance through WPA? Maybe you were worried that they would be declined or rated? Well, here is your chance to offer them life insurance with NO HEALTH QUESTIONS ASKED! This is a great reason to call on your “annuity only” members and encourage them to consider purchasing life insurance through the Simplified Issue program. They can even use a portion of their interest to accelerate their death benefit – and this transfer of funds can be handled internally at WPA. (Since an annuity withdrawal might cause a taxable event to your member, advise them to consult their tax advisor for any tax questions that may arise.)

Learn More

Full Details

Addendum to the Agent Commission Schedule & Service Fee

Sample App