Introduction
Do you struggle with how to name the forms included on the Form Schedule in your Compact Product Filings? This week's tip is the first in a series of tips outlining best practices for completing the Form Schedule in SERFF.
When completing the Form Name column on the Form Schedule, the Insurance Compact Office advises companies to provide unique, meaningful names for each item listed. For example, if your filing has multiple whole life policies, avoid naming them all "Whole Life Policy." Instead, use this as an opportunity to describe how the policies are different, with names such as: "Traditional Whole Life Policy to 65," "Traditional Whole Life 10 Pay," "Graded Whole Life to 65," etc. Additionally, each PDF attachment file name should correspond to the form name listed on the Form Schedule.
Adhering to this best practice makes review more efficient and creates smoother dialogues between the company and the reviewers, in the event that the filing requires a conference call.
If you have any questions about completing the Form Schedule in your Compact filing, or about filing with the Insurance Compact in general, please contact the Insurance Compact Office.
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