New Certified Program for LSW Agents Working in the 403(b) and 457 markets
Why did the company develop the new LSW Certification program?
In cooperation with several school districts and third-party administrators, we developed the program to help agents succeed in today’s new world of regulations.
The Internal Revenue Service’s Rev. Proc. 2007-71 altered the 403(b) selling landscape in a dramatic fashion. To comply with these 403(b) regulations, school districts have written model plans, and many have hired third-party administrators (TPAs) to manage their 403(b) and 457 plans.
As a result, some districts have reduced the number of vendors and have imposed new solicitation rules, while others have not. Some districts have restricted the availability of products and the number agents who can work in a district, while others have even restricted all access. Many school districts want an official list of agents who are approved to work on their campuses. In California, Texas, and Florida many school districts require letters and identification cards from LSW verifying that certain agents can go on campus. School officials want LSW to provide well-trained agents who are signing up new employees and increasing participation in 403(b) and 457 plans.
Today, even veteran agents are finding it more and more difficult to gain access in the school districts because of the new solicitation rules. LSW is working to keep the doors open and to open doors that have been closed. We are visiting with many superintendents, principals, and benefit directors who encourage and support the new LSW Certified Program.
What is the mission of LSW’s Certification Program?
- To have all agents "certified" who represent our company in LSW 403(b) and 457 slots. Eventually, if agents are not certified, they will not be listed on the approved agent list for 403(b) and 457 school district slots.
- To increase the number of 403(b) and 457 plan participants in school districts Why? Universal availability…School districts are judging companies and producers by the amount of new flow premium and the number of new participants signed up each year! LSW must provide an annual report to many school districts.
- To educate field associates about LSW’s products, procedures, and marketing strategies. To tell field associates about new rules, restrictions, and solicitation and advertising policies.
- To give "certified" field associates access to special communications and marketing materials. Certification will help keep non-403(b) and 457 agents off school campuses.
- To ensure LSW and you have access to school districts today and tomorrow
What are the benefits of Certification?
LSW "certified" producers …
- Will be on the official "agent lists" that we give to school districts and third-party administrators (unless LSW is limited to a certain number of agents in a district.) They will get an official letter and identification card from the company
- Will have access to special communication and marketing materials that are only available to certified agents
- Will get assistance from LSW in developing marketing strategies for your specific school district(s)
- Will be the only agents invited to attend special school functions like benefit fairs and in-services
- Will have access to any special LSW marketing program for that district – electronic lead generation tools and lists
What happens if I cannot attend one of the Certification schools at this time? Will the schools be available again? Can I get certified on line?
If you cannot attend one of these schools, LSW will host other schools throughout the year in different locations. We also can schedule special agency and group meetings. We will look at the demand in certain cities and schedule more schools. Our goal is to have all producers who are working in LSW’s 403(b) and 457 slots to be certified before 2011.
At this time, LSW is beginning to develop an on-line certification program. It will be available sometime next year. New agents or ones who have not previously sold 403(b) and 457 flow policies with LSW will not be eligible to do the training on line.
For more infomation, please contact the LSW Sales Desk
at 800-906-3310. |
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Registration is Now Open for LSW Certification Schools
Click on the following link to register for one of LSW's 403(b) and 457 Certification Schools.
2010 403(b) and 457 Certified School Launch Page
Important Note: In order to accomodate more attendees, we have moved the July 20th school in Los Angeles to July 28th. It will now take place at the Ritz Carlton Marina del Rey.
Each school will take place from 9 a.m. to 5 p.m.
June 29 - Dallas, Texas
June 30 - San Antonio, Texas
July 1 - Houston, Texas
July 13 - Fort Lauderdale, FL
July 14 - Orlando, FL
July 15 - Jacksonville, FL
July 19 - Las Vegas, NV
July 21 - Riverside, CA
July 22 - San Jose, CA
July 28 - Los Angeles, CA
The cost to attend an LSW 403(b) and 457 Certification School is $50. Check must be made payable to LSW. Checks must be sent in advance of the school to:
Donna Kvapil, 403(b) Coordinator
Life Insurance Company of the Southwest
1300 W. Mockingbird Lane
Dallas, Texas 75247
If you cannot attend one of these schools, LSW will sponsor additional schools in August, September, and October. Please notify LSW of your interest in attending a school later in the year.
If you have any questions, please contact the LSW Annuity Sales Desk at 800-906-3310.
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