Power of Attorney Information

May 16, 2018

As an agent, you may come across instances when working with clients where a question about Power of Attorney (“POA”) comes up. The information below is intended to help explain the various types of POAs and when they may be needed or applicable.

POWER OF ATTORNEY (“POA”)

A legal document that gives chosen designee the power to act on behalf of an individual.

DURABLE POWER OF ATTORNEY

The legal document stays in effect, if an individual becomes incapacitated and unable to handle matters on his or her own.

MEDICAL POWER OF ATTORNEY (DURABLE POWER OF ATTORNEY FOR HEALTH CARE)

A health care directive that defines health care wishes in the event you ever become too ill or injured to speak for yourself. A trusted person named to oversee medical care and make health care decisions on an individual’s behalf. The health care agent works with physicians and other health care providers to make sure you receive the kind of medical care you wish to have. When arranging care, the agent is legally bound to follow treatment preferences to the extent that he or she knows about them.

DURABLE FINANCIAL POWER OF ATTORNEY

A financial power of attorney gives someone the authority to handle financial transactions on another’s behalf. Some financial powers of attorney are very simple; e.g., used for a single transaction and others are comprehensive designating an individual to take on all financial transactions when someone is unable to do so.

APPOINTMENT OF REPRESENTATIVE FORM

This form authorizes an individual to help a family member or friend with a Medicare claim or appeal. This legally authorizes someone to be a representative for Medicare decisions.

THE SIGNATURE

At the time of an application signature, it is highly recommended that a sales agent review the legal document allowing an individual to sign on someone’s behalf. It is highly recommended that a copy of the legal document be submitted with an application, although not required. However, in the event the POA needs to speak with a carrier representative, the legal document will need to be sent to the carrier prior to policy discussion.

This is intended to be for informational purposes only. When working with clients that have POAs, please be aware of the carrier’s guidelines and requirements regarding POAs when submitting business.

As always, we thank you for your support and cooperation. For questions or comments, please email us at Compliance@NSGACommunications.com or you may call the toll-free number listed below.

FOR AGENT USE ONLY. NOT FOR USE WITH CONSUMERS.

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