Cigna is moving to Draft at Policy Issue

Cigna Announcement, August 10, 2018

Cigna is moving to Draft at Policy Issue on all products starting August 15, 2018

You may have heard that Cigna has implemented a new operational change for their Final Expense product: Beginning August 1, 2018 they started drafting the premium on policy issue and on August 15, they are moving to Draft at Policy Issue for all products.

  • Policy Change:
    • Old policy: Draft on Effective Date - Previously Cigna allowed for policies to be drafted at the time of the effective date of the policy.
    • New Policy: Draft on Issue Date - The new policy will be to draft at the time of policy issue.

All paper applications must use an EFT form dated 3/18 or later. The app packets that are currently available through Supply already have a 3/18 or later date. Cigna will not accept FE paper applications with old EFT forms after 8/1/18 and they could be returned to the agent if they are not using the updated form.

Note: Advance commissions are only paid on bank draft business and only at the original activation of the policy. For more information please review Cigna’s FAQs .



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