Frequently Asked Questions





Getting Started
Q:Are there requirements for entering this program and selling this policy?
Q:What is the process for becoming appointed to promote and sell this product?
Q:Why is this such a compelling opportunity?

Product Questions
Q:How does the HSBC product pricing compare to other competitors?
Q:Is this new HSBC product available in all 50 states?

Selling eLifePolicy
Q:How do I process a policy for a client manually?
Q:What reports are available on sales through my co-branded site?
Q:Can I sign up other GA's / agents underneath me? How is this handled?
Q:Does an upline need to be licensed in the state where the downline has written business in order to receive an override?

Commission
Q:What is the commission schedule?
Q:When are commissions paid?
Q:How do I get paid, what's the process?
Q:Do policies have to be in force for one full month before a commission is generated?
Q:Does an agent have to reach a minimum level in cumulative annual premium before commissions are generated?
Q:Are there minimum amount commissions needed to generate a payment?
Q:Are agents and agencies able to contact HSBC directly for licensing/contracting/commissions?
Q:Does HSBC or eLife Marketers advance commissions?
Q:Is direct deposit offered for paying commissions?
Q:How often are commissions paid?
Q:When will an agency or agent be staged for commissions.
Q:How is staging determined?
Q:What happens if production exceeds staging levels?
Q:What happens if production does not meet staging levels? Will commissions have to be repaid?

Marketing
Q:Do you offer marketing materials to promote this product?
Q:Can I create and host my own site to promote and market the HSBC product?
Q:What if I don't have a web site? Will you be providing a web site?
Q:How long does it take to establish my co-branded site?
Q:Can I use the HSBC logo to promote the product?


Q. Are there requirements for entering this program and selling this policy?
A. You must be a licensed agent/agency and complete the appointment process to sell the policy issued by Household Life Insurance Company or First Central National Life Insurance Company of New York. You must sign an agreement with eLife Marketers and may undergo a background check. You should also be willing to make an annual premium commitment. Ideally youíve been in business for 2 years. You must also have 1MM E&O Insurance. The process can be completed in approximately one week if you provide complete information on your application.

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Q: What is the process for becoming appointed to promote and sell this product?
A: The approval and appointment process is very simple and turn key. eLife Marketers will email to you a contract and appointment forms including a credit and background check authorization form. The background and/or credit check may be an HSBC requirement. Once completed and sent back we will submit the application packet to HSBC and follow it through the approval and appointment process. The appointment and approval process will take about 7 to 10 business days. Once approved, ELM will forward to you a signed copy of your contract along with your GA or agent number for all record keeping of commissions and case management.
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Q. Why is this such a compelling opportunity?
A. There are approximately 50 million Americans that are either not insured or underinsured. Many of them do not want to follow the traditional insurance buying process. They want coverage now, without waiting weeks for an underwriting decision. This program allows you to offer a policy that can be completed in just a few minutes. They can buy over the internet or by having a short conversation with you and literally be covered during that session. This provides you with a hot new opportunity that costs essentially nothing to implement.
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Q: How does the HSBC product pricing compare to other competitors?
A: In comparison to other "simplified issue" products the HSBC pricing is extremely competitive. This product is priced accordingly taking all of the product highlights and benefits into consideration to similar products currently on the market. Sample competitive rates will be available upon request.
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Q: Is this new HSBC product available in all 50 states?
A: Yes
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Q. How do I process a policy for a client manually?
A. You are provided an agent login that leads to a complete processing system where you can purchase policies for clients and check the status of your accounts as needed. This will allow you to take an application over the phone or in person. Details about how this works are covered in a separate document.
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Q. What reports are available on sales through my co-branded site?
A. The agent is provided a comprehensive reporting system that allows you to inquire about any policy, create new policy sales and get reports on general activity.
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Q: Can I sign up other GA's / agents underneath me? How is this handled?
A: Yes, agencies and agents can sign up and roll up as many agents or other agencies as they would like directly underneath them. Once approved and appointed you will be given a GA number. Your GA number will be the number on record for all GA's and agents you roll up underneath you.
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Q. Does an upline need to be licensed in the state where the downline has written business in order to receive an override?
A. Yes.
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Q: What is the commission schedule?
A: The commission schedule is very generous and is equal to or better than what you are currently receiving from any of your current carriers. Please contact an eLife Marketers representative to discuss and review what your specific sales commission plan will be.
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Q. When are commissions paid?
A. Commissions are paid for the full calendar month on the 15th of the month following the sale. Sales completed and inforce by the end of the calendar month will be paid in the following payout.
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Q: How do I get paid, what's the process?
A: Commission will be paid on an "as earned" basis. On a monthly basis you will receive a commission payment by EFT and commission report.. This will most likely be a data file. Each agent will be listed with their associated agent number and the amount of premiums written.
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Q. Do policies have to be in force for one full month before a commission is generated?
A. No. Policies must be inforce by the end of the month to be paid in the next payout. Policies are not inforce until premium is posted, thus many end of month sales will roll over to the next month's payment.
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Q. Does an agent have to reach a minimum level in cumulative annual premium before commissions are generated?
A. No. There is no minimum until commissions are paid.
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Q. Are there minimum amount commissions needed to generate a payment?
A. No. There is not a minimum for EFT payouts.
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Q. Are agents and agencies able to contact HSBC directly for licensing/contracting/commissions?
A. At this time, all commissions will be paid directly by HSBC.
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Q. Does HSBC or eLife Marketers advance commissions?
A. No, commissions are paid on an as earned basis.
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Q. Is direct deposit offered for paying commissions?
A. Yes, it is the only method used.
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Q. How often are commissions paid?
A. Commissions are paid once a month on the 15th of each month.
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Q. When will an agency or agent be staged for commissions.
A. Staging takes place as soon as the producer is contracted.
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Q. How is staging determined?
A. Staging is based on past performance history and future commitment capabilities
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Q. What happens if production exceeds staging levels?
A. Staging is based on a full 12 month period. If annualized premium in any 12 month period exceeds staging, then the higher level is paid retro to dollar one for that 12 month period.
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Q. What happens if production does not meet staging levels? Will commissions have to be repaid?
A. No, but there may be a re-staging at the next production term.
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Q: Do you offer marketing materials to promote this product?
A: Yes, eLife Marketers offers a complete library of promotional marketing pieces which can be accessed directly by individual agents and agencies. If you have your own website, eLife Marketers will provide graphics and a co-branded set of web pages that will feature your company and allow your consumers to purchase the product electronically.
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Q: Can I create and host my own site to promote and market the HSBC product?
A: eLife Marketers will provide you with a wide range of graphic content that you can add to an existing web site or use in the creation of your own site. We also provide a seamless link from the graphic that goes to a branded web site with your company information and logo along with the approved eLifePolicy content and processing engine. This creates a smooth and seamless experience for your customers.
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Q. What if I donít have a web site? Will you be providing a web site?
A. You must have your own web site or one page domain. If you do not have a web site, it's your responsibility to establish a basic web presence which could simply be a single public-facing web page. The scope of what ELM provides includes graphical links and your own private eLifePolicy.com processing engine that is hosted on our domain. This is done to ensure marketing/branding compliance and also maintain the complex working connecting between the carrier and related technologies needed to process a fully internet-based life insurance policy.
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Q. How long does it take to establish my co-branded site?
A. Generally one week from the time we receive your materials. This is subject to fluctuations in volume. We will email you at the contact email you provided to indicate when the site is ready. That email will also contain information on including your graphic and linking so you can have your web developer update your personal/company primary web site.
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Q: Can I use the HSBC logo to promote the product?
A: Yes. All HSBC marketing materials and creative will be provided by eLife Marketers. You must understand that the HSBC brand is part of the company's intellectual property and as such tightly controlled in how it is represented. We will provide pre-approved logo forms and guidelines on their usage. This is an important part of our service and keeps you in compliance which allows you to market this product.
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Contact Information


Corporate Headquarters


eLife Marketers
2913 El Camino Real
Suite 563
Tustin, CA 92782

800.438.7343

Fax 657.859.5510