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| HELPFUL GUIDE |
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| MARCH // 2020 |
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| Summary of Requirements for New Business Application |
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A) Electronic Application
This option allows Introducers to efficiently complete and submit business electronically, all under one platform. The General Agency will need to approve and submit all cases from underlying Introducers for the New Business to be analyzed by the Company. The following documents are required for submission via the Electronic Application:
- Completed Online Application (includes the Illustration, Product Term Sheet and other required forms).
- Clear and legible color copy of a valid Identification Document including signature of the Plan Participant, Insured Person (if different from the Plan Participant) and Payor (if different from the Plan Participant). If the ID does not have an expiration date, it must be issued within the past ten (10) years. Copy of ID provided for Plan Participant must match ID number entered in the application.
- Clear copy of Proof of Address of the Plan Participant, Insured Person (if different from the Plan Participant) and Payor (if different from the Plan Participant) issued within the past three (3) months (i.e., a utility bill, a financial statement, etc.). The copy of the Proof of Address provided for the Plan Participant must match the address entered in the application.
- AML requirements – at the end of the application process, the system will indicate any supporting documents required, based on the information provided. The Company may also request additional supporting documents based on the information of payment received.
B) Scanned Application
This option allows Introducers to scan and submit business via the Submit New Scanned Application option on the Introducer Inquiry Page. The following documents are required for scanned submissions:
- Form IN102 Subscription Agreement (CY) or Form IN130 Subscription Agreement (PR),1 based on your client’s jurisdiction preference.2
- Form IG132 Source of Funds Questionnaire. This form is required for Plan Participants and Payor (if different from the Plan Participant).
- Form IN110 Insured Person3
- IP114 Payment Authorization Form. If Payor is different from the Plan Participant, the 2nd page of the form (Addendum) will be required.
- Form IG206 Tax Residency Self Certification for Individuals
- Form IN124 Independent Introducer Details
- Form IN136 Suitability Questionnaire (only for CY plans)
- Form IN138 Disclosure of Material Information (only for CY plans)
- Signed Product Term Sheet (download directly from your Account Access under Electronic Platform section).
- Clear and legible color copy of a valid Identification Document including the signature of the Plan Participant, Insured Person (if different from the Plan Participant) and Payor (if different from the Plan Participant). If the ID does not have an expiration date, it must be issued within the past ten (10) years. Copy of ID provided for Plan Participant must match ID number entered in the application.
- Clear copy of Proof of Address of the Plan Participant, Insured Person (if different from the Plan Participant) and Payor (if different from the Plan Participant) issued within the last three (3) months (i.e., a utility bill, a financial statement, etc.). The copy of the Proof of Address provided for the Plan Participant must match the address entered in the application.
- AML requirements - Please check our AML Risk-Based Tool under the Electronic Platform section of your Account Access for a list of required documents. The Company may request additional supporting documents based on the information of payment received.
1. Capital Redemption New Business forms: IN108 Subscription Agreement CR (CY) for Cayman Islands Jurisdiction and IN132 Subscription Agreement CR (PR) for Puerto Rico Jurisdiction. All forms listed above are necessary for Capital Redemption products except form IN110 Insured Person.
2. Clients who choose Malaysia Jurisdiction please use IN130 Subscription Agreement (PR) or IN132 Subscription Agreement CR (PR).
3. The Company may request additional information based on the answers submitted in the Questionnaire.
Additional Requirements for Corporate Plan Participants:
- Certificate of Incorporation or equivalent, including details of the registered office and place of business (Bearer Share companies will not be accepted as Plan Participants)
- Register of Members/Directors and Shareholders
- Clear and legible color copy of a valid Identification Document (ID), including the signature of Directors and Members/Shareholders. If the ID does not have an expiration date, it must be issued within the past ten (10) years. Copy of the ID of the Authorized Person of the corporation must match the ID entered in the application.
- Clear copy of Proof of Address issued within the last three (3) months (i.e., a utility bill, a financial statement, etc.) of the Company, Directors, and Members/ Shareholders. The address entered in the application for the corporation must match the Proof of Address provided for that corporation.
- If the Authorized Person is not a Director, he/she must provide ID, POA and other documents proving the relation between the Authorized Person and the Organization (Power of Attorney, Board of Directors Appointment, etc.)
- Form IP142 Add/Remove Authorized Person (if applicable)
- Form IG208 Tax Residency Self Certification for Entities (one per controlling person)
Please Note:
All forms are available in our electronic Library. Before completing a form, you should always download it from our Library to ensure you are using the most updated version.
Plan Participants may be subject to a quality control and security phone interview performed by the Company. |
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Investors Trust is the global brand representing the ITA Group of companies including ITA International Holdings LLC and its subsidiaries. ITA International Holdings LLC is the ultimate parent company of Investors Trust Assurance SPC, a licensed life insurance company based out of the Cayman Islands, rated “A-” by AM Best (for the latest rating, access www.ambest.com), and a member of the Association of International Life Offices; ITA Asia Limited, a licensed life insurance company based in Labuan, Malaysia; and, ITA International Insurer, a licensed life insurance company based in Puerto Rico. ‡ The ITA Group of companies do not offer investment advice or make recommendations regarding investments. You should consult your own tax, legal or investment professional to assist you in your financial decisions.
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