 SALES ARTICLES |
|
CARRIER & INDUSTRY
|
|
- Life Insurance Awareness Month – new customized materials from LifeHappens
If you’d like to personalize materials with your contact info, embed videos, e-mail resources and take full advantage of all of Life Happens resources, try out the new online self-service platform at www.LifeHappensPro.org.
- Half-year financial results
View the video below as Nigel Wilson cites US growth in a press release picked up by international news organizations.
- Technology upgrade – August 15th – 16th
A technology upgrade will impact Sales Professional Access (SPA) the weekend of August 15-16, 2015.
- Updated Privacy Notice – effective August 17th
Effective August 17, 2015, an updated Privacy Notice – ILIX-5864 (Ed. 3/2015) – will be on PruXpress. This form is required for all variable sales, regardless of the submission method.
- First Quarter 2015 ALIRT Report
Issued on a quarterly basis, this independent report measures the strengths and weaknesses of insurance companies versus industry peers using the ALIRT (Analysis of Insurance Risk Trends) Model.
- Life New Business Operations completes move to Waltham, MA
Symetra’s Life New Business Operations transition to the Waltham, MA facility is complete. This transition is designed to provide BGA customers with enhanced service. Please note that while their physical location has changed, their Premier New Business contact information remains the same; including the mailing address. If you have any questions or would like more information, you can contact them Monday through Friday from 8 AM to 6 PM ET at 1-800-392-9920 or premiernewbusiness@symetra.com.
|
LIFE INSURANCE
|
|
- Reg 60 amended in NY
Disclosure Statements may now be provided to applicants at time of policy delivery rather than prior to the application. Read the announcement.
- Correct usage of Part A Application and Part B Exam
View acceptable combinations for Part A Applications and Part B Exams.
- Waiver of Monthly Deduction Rider begins again in CA
Read the product announcement.
- The Basics Manual – improvements
The Basics Manual has been improved. The Commissions, Compliance, Customer Service, Licensing, Payment, Policy Delivery, Policy Issue, Sales and Marketing, Submit, Supply Orders, Underwriting and Website section have all been updated. This manual provides an overview of procedures for the defined business areas at the Legal & General America companies; Banner Life Insurance Company and William Penn Life Insurance Company of New York.
- OPTerm rates have decreased!
With LGA, you can actually make money selling term insurance. View the flyer.
- LTC Acceleration of Death Benefit Rider added to Promise Whole Life Portfolio
Starting August 31, 2015, MetLife will add the Long Term Care for Acceleration of Death Benefit Rider (LTC ADBR) to all products in the MetLife Promise Whole Life Portfolio; except MetLife Promise Whole Life 65. Before soliciting or selling this rider, certain requirements must be met. In most states, all advisors involved in submitting the application must have the appropriate licenses and be up to date on their continuing education credits.
- Licensing and Continuing Education Training Requirements
MetLife has established an agreement with Kaplan Financial Education – a continuing education provider – to provide the approved LTC Continuing Education at a discounted rate through their website; using “MetCE” as the portal code. The site contains complete instructions for creating a user account and accessing the training. View Kaplan’s training requirements.
- When you complete the training with Kaplan, MetLife will be notified of your completion. You do not need to submit a CE completion certificate to MetLife.
- If you do not wish to complete the training with Kaplan and instead elect to use another state-approved provider, you must submit a completion certificate to Corporate Licensing and Registration at CLR_License_Renewal@metlife.com or fax it to (908) 552-2444.
- The new language of estate planning
With fewer estate holders subject to estate taxes, some people think estate planning is a thing of the past. But tax law changes have brought new opportunities for your clients. Watch theEPIC video to learn how you can help clients start earlier to maximize their estate plan in both life AND at death.
- An alternative to ROP Term
If your clients like term life insurance with a return of premium option, they may likeGuaranteed Universal Life with a Guaranteed Refund Option rider even better!
- Provide instant quotes on the go
The Quotes for Sales Professionals Mobile App allows you to run quotes even without an internet connection.
- Windows 10 compatibility with e-App
It has been discovered that Microsoft’s new Windows 10 and Edge browsers – released July 29, 2015 – are not compatible with the iPipeline e-Application. As a result, it is recommended that you delay any updates to your system until these issues are resolved with iPipeline and Microsoft. Please note: This only impacts the Life and AD e-Application.
- 10-year term product now available on iGO e-App
On July 25, 2015, the new 10-year term product for Term Life Express was made available on the iGO e-App. You can now fill out and submit your applications for this new product electronically, as well as through the paper application. The iGO e-App allows you to submit cases electronically, securely and in good order. It features a paperless submission that can be efficient and productive as it tracks your apps from start to finish. It also accelerates the underwriting and policy issuance so your applications get approved and the policies are issued quickly.
- North American offers better long-term coverage at a lower rate
Learn about ADDvantage Term.
- Index Advantage UL (IAUL) consumer brochure now available in CA
Download it now.
- New IUL rule levels the competitive field – effective September 1st
The NAIC announced regulatory changes for the way index interest is illustrated for IUL products. The new rule is consistent with Prudential’s current IUL strategy and levels the competitive “playing field” with an industry standard for the way IUL products are illustrated.Learn more.
- BenefitAccess Rider (BAR) – underwriting criteria and potential alternative solutions
Understanding underwriting criteria for BAR is important for you and your client before an application is submitted. Review these underwriting guidelines and real case examples.
- Collecting premium for life insurance applications
Are you aware you can only collect premium, including sending of wires, at the time the formal application is taken and when you are delivering the policy? Read more.
- Business Needs Solutions with Founders Plus UL
Attracting and retaining top talent for small or privately held businesses can be difficult. Even harder is protecting the business against losing them due to retirement, death, or disability. See how Founders Plus can be an effective policy to leverage in these situations.
- Wealthy and Wise – new look
Prudential’s wealth transfer planning software – Wealth and Wise – has been freshened up; making it easier for you to show clients the value and affordability of life insurance. Call our Advanced Marketing team for a personalized presentation.
- Access Trust eKit
An Access Trust is a type of irrevocable life insurance trust (ILIT) that enables the spouse of the trust grantor to receive distributions from the trust during his or her lifetime and as long as the trust is drafted and administered correctly, it will also have the tax benefits of a traditional ILIT. Use this ekit to learn more.
- Using life insurance to leverage alternative assets – sales idea
There are many benefits to life insurance ownership; whether it’s owned by a trust or an individual. Life insurance can provide a financial hedge to your clients’ portfolios for assets that are earmarked for wealth transfer. This new sales idea brochure highlights two scenarios where leveraging alternative assets using life insurance may help maximize wealth transfer.
- Symetra brings the heat with LPB Premier
Symetra LPB Premier provides lower annual premiums for larger cases, with premiums averaging 6-10% less than the number 2 ranked GUL carrier. What’s more, if clients meet theeligibility criteria, Premier pricing will automatically be applied when you run an illustration. View this premium solve.
- TransACE CV and Guaranteed Whole Life Conversions
Effective August 31, 2015, when converting an existing product to TransACE CV or Guaranteed Whole Life, all documents will now be based on the original policy issue state. If the insured has since moved to a new state, he or she can sign the conversion application in that state, but all documents must be based on the state in which the original policy was issued. All other products currently available for conversion will continue to require the forms be pulled in the original issue state. For additional information related to conversions, view the Term Conversion Guide to Doing Business. Please note: For Transamerica Financial Life Insurance cases, New York rules will apply.
- Transition Rules
Applications received in the Home Office on or after August 31, 2015 will require the state forms of the original issue state.
|
COMBO PRODUCTS
|
|
|
- Total Living Coverage (TLC)
- A fresh way to sell a powerful combination – tailored for your clients
The TLC Simulator helps you walk your clients through a tailored exploration of their goals. Whether they want protection through having both life insurance and long term care benefits, or retaining control by still having access to their money, or even if they simply want to get as much leverage out of their money as possible, this tool generates simple and compelling customized charts that lets clients know how Total Living Coverage (TLC) can assist with their particular priorities.
- The TLC Simulator is now available in CT & FL.
- You can explore the TLC Simulator on your computer, tablet, or iPad.
|
ANNUITIES
|
|
- Millennials choose-annuities?
Millennials are distrustful of traditional saving options, including IRAs and 401(k)s–here’s what they’re choosing to invest in instead.
- Commission band changes
American Pathway Deferred Income Annuity commission bands for period certain only payouts have been based on “durations” equaling the sum of certain period plus the length of deferral period. Effective August 10, 2015, the bands for new contracts will only be based on the length of the certain period that is selected. The period certain “period” for contracts issued on or after August 10, 2015, will be banded as follows:
- Band 1: All Period < 7 years
- Band 2: All Period ≥ 7 years, but < 15 years
- Band 3: All Period ≥ 15 years, but ≤ 40 years
- Annuity rates for August
View them now.
- American Pathway Deferred Income Annuity now available in NY
View the DIA Playbook for details and materials.
- Illustration update – effective August 24th
On August 24, 2015, there will be updated illustrations SecureLiving Series Single Premium Deferred Annuities.
- North American’s Summer Surge
- NEW! 2% Premium Bonus Increase on the NAC RetireChoice fixed index annuity series through September 30, 2015. Offer your clients up to 10% Premium Bonus on the NAC RetireChoice 14 when the optional additional benefit rider is elected.
- 1% Commission Special on NAC BenefitSolutions II Fixed Index Annuity through December 31, 2015!
- Growth Potential Surge
Exciting interest rate increases on most fixed index annuities and our multi-year guarantee annuities (MYGAs) – effective August 6, 2015 LICK HERE for the rate sheet.
- Potential New Markets Surge
The North American Guarantee Choice 3-Year MYGA is back for a limited time. Contact your clients today to take advantage of this great opportunity.
|
LONG TERM CARE
|
|
- Promises Kept
Mutual of Omaha promised to pay their first LTCi claim back in 1987. Since then, they have paid more than $792 million in benefits to LTCi policyholders. In 2014 alone, they paid $80 million. Learn more in this updated Promises Kept piece.
- LTC News – August 6th edition
In this issue:
- Know The Sweet Spot: Step-Rated Benefit Increase Option
- Join the National LTC Solutions Sales Summit
- Couples Discount Clarification
- Take Action on Proposed Rule
- Latest LTCi Headlines
- NY Endorsement Forms
|
CRITICAL ILLNESS
|
|
|
No bulletins to report this week.
|
DISABILITY
|
|
|
- Are your clients eligible for savings?
Don’t forget about premium savings available with the DI Choice Portfolio — designed to provide affordable coverage to your middle income clients. Get an overview of the potential savings.
|
MEDICARE SUPPLEMENTS
|
|
|
- Make sure your e-mail and mailing address are correct
Be sure Mutual/United of Omaha has your current e-mail and mailing address before the Open Enrollment Period begins to ensure you receive future communications regarding your Med supp business. View the bulletin.
- Rate adjustments
View the rate adjustments on Modernized new and in-force business in Montana and Oregon; Modernized in-force business only in Arkansas, Iowa and New Jersey; and Standardized business in Arkansas, Iowa, Illinois, New Jersey and South Carolina.
|
BROKER/AGENT INCENTIVES
|
|
- 10% Bonus Commission on Value+ IUL (June 1 – December 31, 2015)
Earn an extra 10% BONUS COMMISSION on Value+ IUL policies paid between June 1, 2015 and December 31, 2015.
- NO thresholds to meet
- NO tiered payouts
- NO maximums
- No restrictions on how the extra commission is used- for example, you may wish to share all or part of the bonus with your producers, creating an incentive program of your own.
- 2016 Marketing Conference in Hawaii (January 1 – December 31, 2015)
The top 80 qualifiers and their guest will be invited to enjoy six days and five nights at Four Seasons Resort Hualalai in beautiful Kona, Hawaii. Click here for complete details.
- 2016 LFN Convention in The Bahamas! (January 1 – December 31, 2015)
Indulge in the beauty and splendor of the brand-new, ultra-extravagant Grand Hyatt at Baha Mar in the Bahamas. LFN qualifiers will enjoy the sun-drenched sand and surf, as well as one of the islands most beautiful and challenging 18-hole golf courses. Get qualification detailshere.
- 2016 LFN Summit in Prague, CZ (January 1 – December 31, 2015)
Set your sights on the crown jewel of Eastern Europe as we head to Prague, Czech Republic. The exquisite Four Seasons Prague will host our qualifiers in a luxurious setting overlooking the famed Charles Bridge. Get qualification details here.
- DI Growth Challenge – Part II (July 1 – December 31, 2015)
Increase your MetLife DI premium by 15% and receive a cash bonus of 6%. Get complete details.
- LTCI Marketing Credits Program (November 1, 2014 – December 31, 2015)
Mutual of Omaha’s LTCI Marketing Credits Program gives you the opportunity to score marketing credits that can be used to help build your LTCi business. Start earning credits on your fifth LTCi app placed after November 1, 2014.
- Credits must be redeemed by March 31, 2016
- Mutual Sales Leaders in Rome! (January 1 – December 31, 2015)
Experience all that is Rome when you qualify for Mutual Sales Leaders in 2015! Your Mutual of Omaha Medicare Supplement and Simplified Issue Life sales can take you to the Eternal City where you’ll enjoy centuries of iconic achievements in Roman art and architecture. It’s the trip of a lifetime! Click here for complete details.
- Medicare Supplement Incentive (July 15 – September 15, 2015)
Sell at least two Mutual of Omaha Medicare supplements this summer and win a $50 or $100 Omaha Steaks Gift Card. Get eligibility rules and full details.
- Elite Producer Club – annuity incentive (January 1 – December 31, 2015)
Earn up to 1% extra commission on all North American Fixed Index Annuities in 2015! Get complete details.
- 2016 Protective Life Sales Convention (July 1, 2014 – January 1, 2016)
Make sure you’re taking advantage of the full qualification period for the Protective Life Sales Convention. Write your business today so by next May, you’ll be able to savor your success!Qualification Period: combined business from July 1, 2014 – January 1, 2016.Qualification Rules: top 40 BGAs with a minimum of $1,000,000 net paid annualized life premium (NPAP). NPAP is defined in the Independent Agents Agreement each BGA holds with Protective Life.Minimum life count of 15 paid applications.No credit for Annuity or BOLI premium.Convention point credit will be given on excess premium at 6%
-
Summer Splash Bonus Program (June 15 – October 16, 2015)
This program gives you the opportunity to earn even more compensation on new PruLife Founders Plus UL business. Click here for complete details.
- Leading Distributors Convention in Barcelona (January 1, 2014 – December 31, 2015)
This is your opportunity to experience one of the world’s top destinations in an entirely unique way-the Transamerica way! Sun-filled days, exciting nightlife, and the breathtaking beauty of Barcelona await, when you qualify for the 2016 convention – held May 11-15, 2016. Click here for details.
- Breakaway Travel 2015! (February 1 – December 18, 2015)
Break Away returns for 2015 with more destinations and new opportunities to qualify! Click here for the producer rules & regulations.
- The Insurables! A Learn and Earn Promotion (June 1, 2015 – March 31, 2016)
The Insurables is a rewards-based program designed to engage and motivate producers to grow sales. Through a series of videos, producers are given the opportunity to learn more about key clients — The Insurables — as well as a chance to earn prizes and a 10 percent commission enhancement. Click here to start learning and earning. Please note: New York, Guam, Puerto Rico and non-U.S. business is excluded from the program. Get complete details!
|
|
