1035 Exchange Support Services

1035 Exchange Support Services

Bridgewater provides end-to-end support services for the 1035 Exchange process, allowing you to devote proactive, aggressive attention to decreasing cycle times and supporting faster placement of approved and accepted insurance policies.

This includes:

  • 1035 Exchange/Replacement notification to the ceding/transferring carrier
  • 1035 Exchange initiation, including in-good-order review
  • Illustration services for state-specific needs, which are included with the request
  • Follow-up and tracking of the 1035 Exchange progress with the ceding/transferring carrier
  • Proactive updates to the Agent and/or BGA on the progress of the 1035 Exchange
  • Check carrier websites & update changes to the cases in CMS overnight.
  • Update modal and target premiums, face value, and plan details before placing case in force.
  • Post updates and send to-do list to case managers to work on urgent activities first thing in the morning
  • Provide feedback to BGA case manager on any negative action taken by the carrier.
  • Work on commission modules and deliver accurate statement reports to your sales force
  • Verify broker contracts and licenses. Follow up with brokers, BGAs, and insurance companies to ensure that all compliances are met

What are the Benefits of Bridgewater's 1035 Exchange Support Services?

  • We expedite the exchange process through rigorous and time-sensitive follow-up.
  • Flexible Model: If the work is not completed during the day shift, overflow work is processed by the night staff. With a unique 24-hour staffing model, Bridgewater processes work around the clock.
  • The 1035 exchange is part of application processing. The policy will be placed in force only after the funds are received, unless advised otherwise.
  • We expedite follow-ups per request. All statuses are updated within your 1035 system, which provides clear tracking on the progress of the 1035 exchange.
  • Some carriers have a long waiting period. We follow these up aggressively, as per the schedule.
  • If we cannot reach a live person after a long waiting period, we will push the follow-up to the very next day. For some carriers, we will follow-up via email or fax as well as phone.

Other Key Services

  • Commission Management Services

  • Medical Records Summarization

  • Medical Records Retrieval

  • Licensing and Contracting

  • Insurance Illustration Support

  • Policy Holder Services

  • Inforce Policy Services

1035 Exchange Support Customer Success Stories

1035 Exchange Support for Large Life Insurance Carrier