 SALES ARTICLES |
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CARRIER & INDUSTRY
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- Holiday Telephone Solicitation Bans for October
- Agent license number required in AR & CA
All agents licensed and doing business in California and Arkansas are required to include their insurance license number on all insurance illustration proposals. A field will now be included on our Winflex software to meet this requirement.
- Expanded Online Access & new Alert Features for Desktop, Smartphone & Tablet
Watch the video below to learn more.
- Distribution organizational changes
- Promotion of Aaron Seurkamp to Senior Vice President – Chief Sales Officer
In this role Aaron will have responsibility for all life and annuity sales functions. By bringing both product lines under one leader for sales management we can better achieve the synergies inherent in the teams.
- Reporting to Aaron will be Matt Riebel and Todd Thompson
- In Matt’s new role as Senior Vice President – Life Insurance Sales, he will have responsibility for the distribution of life insurance through independent agents, financial institutions and affinity partnerships. He will retain responsibilities for ProEquities and First Protective Insurance Group.
- Todd Thompson will continue is his current position as SVP – Annuity Sales.
- Dave Sheridan will continue in his role as Vice President, Managing Director of Brokerage Distribution
As previously announced, Dave will oversee all elements of brokerage life distribution including sales and account management. Dave will now report to Matt Riebel.
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LIFE INSURANCE
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- Conversion update
View the update.
- Insights from senior industry leaders on LIAM
Listen to industry insights from LIMRA President, Bob Kerzner, and AIG’s Head of US Life Insurance, Rod Rishel, on the value of life insurance in today’s evolving market.
- Value+ IUL
- Strong index performance flyer available for consumers
Have questions on how the strong index performance cash access feature works for the Value+ IUL? Check out the new, easy-to-understand consumer approved flyer that explains it all.
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Sequencing of returns – new consumer-approved sales idea
The order of returns has an impact on how long a portfolio will last if the portfolio is 1) in the distribution stage and 2) if a fixed amount is being withdrawn from the portfolio. Find out more in this new sales idea that shows an example.
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Long-term illness care statistics – consumer-approved infographic
This new infographic addresses how clients will pay for long-term illness care. Download the file and customize with your agency information to use in opening the doors for life insurance conversations.
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New application and forms – effective October 12th
Find out what’s changing.
- Looking for tools to help your life insurance business
Check out the Life Insurance Toolbox. It’s full of product information, brochures, consumer pieces and more!
- Colony Term LQR minimum face amount requirement reduced
Get details!
- Life Insurance Awareness Month
Share this infographic with your brokers based on the 2015 LIMRA and Life Happens Barometer Study.
- Payor changes after underwriting decision now require additional case review
The payor relationship to the insured is one of the material considerations of whether to extend coverage. When a change is requested immediately following policy issue, a re-examination is required to assess whether an offer of insurance remains appropriate in light of the new payor profile. Effective September 28, 2015, payor changes after the underwriting decision will require additional case review and approval. Please allow up to 48 hours for review and decision. An updated application page (p2) is no longer necessary as all payor changes will result in an amendment. Be prepared to provide the following information when requesting payor changes:
- Who is the payor and what is their relationship to the insured and owner?
- What is the reason for the requested change?
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Lincoln Leader for Life Insurance – September 21st edition
In this issue:
- Lincoln Treasury Indexed UL closed to New Sales – effective October 30, 2015
- Lincoln WealthAdvantage Indexed UL New York now available
- CRL and ExamOne Labs to Client – helpful hints
- WealthAdvantage IUL now available in NY
Designed for clients with a conservative market outlook who want to balance growth potential with guaranteed features, Lincoln WealthAdvantage Indexed UL is a flexible solution for a wide range of client needs. See the marketing materials below.
- Help your clients take on their biggest retirement challenges
The retirement landscape is changing. People are living longer and need income for a retirement that could last 20 years or more. And, the responsibility of retirement savings has shifted from employers to individuals as pension plans quickly become a thing of the past. That makes longevity, market volatility, rising taxes, and the impact on portfolios even more important. The solution? As part of a diversified portfolio, life insurance can give your clients opportunities for tax-advantaged supplemental income while helping to reduce portfolio risk. Help your clients take charge of their retirement. See these wealth protection case studies.
- Reach out to clients with the Term Life Express Prospecting Postcard
Term Life Express has affordable rates, a simple application, and flexible product features. Use this prospecting postcard to highlight all of these benefits and more.
- Trial Application Program
Learn more about the trial application program; designed to provide prompt service, competitive quotes and underwriting support.
- ADB for TLA
The Accelerated Death Benefit Riders for Term Life Answers allow some of the highest benefit amounts in the term life industry.
- A Competitive Edge on Term
North American’s term life insurance rates may be the least expensive in many situations, but even when their rates are a few dollars more, ADDvantage Term’s conversion features may make the product one of the best you can find!
- Variety of Options – currently convertible to any individual permanent life insurance policy
- Living Benefits – in the first five years, critical, chronic and terminal illness accelerated death benefits are available without evidence of insurability by current company practice
- Time to Decide – conversions allowed during the earlier of the policy’s level term period or through age 74 (69 for 30-year term), but never less than five years, regardless of issue age.
- Reduce Time and Earn Money Faster
By using North American’s SimpleSubmit eApp, you will spend an average of 20-minutes less completing an application; and you will get your commissions paid 22 days quicker as compared to the paper process. Watch the video below to find out how SimpleSubmit can benefit you.
- Even the Financially Stable Can Benefit from Life Insurance
If a person isn’t likely to use their annuity assets in their lifetime, the North American concept of Annuity Maximization may be a good solution for their transfer of wealth.
- Your Client Use their Smart Money in a Smart Way
Smart money is money that clients want to control and be able to access in times of needs. The client video below provides you with an effective method for educating your clients.
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Unit Expense Charge – update
There has been a change to the calculation of the Unit Expense Charge on the Premium Guarantee Rider for Guarantee Builder IUL.
- Are your agents selling life insurance in a way that matters to their clients?
Clients need flexible coverage that will be there when life happens. Learn how your agents can provide this and grow their business.
- Term Conversion client strategy
If you think Founders Plus may be the right option for clients looking to move from term to permanent coverage, view this client strategy to see how easy it is to convert.
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ZipApp – easy, fast and free NEW!
ZipApp is SBLI’s streamlined online drop ticket solution that will be available in early October. It provides the ability to quote and submit a ticket faster and easier than ever before; and there are no setup or submission costs. View this ZipApp sneak preview.
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New Informal App and Quick Quote limits on Level Term – effective October 15th
Effective October 15, 2015, Symetra will only accept Informal Applications and Quick Quotes on Symetra Level Term with face amounts of $500,000 or more. Please note that the issue ages and face amounts for Level Term remain unchanged, and this new policy does not affect Quick Quotes or Informal Applications for permanent products.
- A Dual Solution for Chronic Illness Flexibility
When clients purchase Symetra UL-G with Chronic Illness Plus, they get both guaranteed coverage at one of the most competitive prices in the marketplace and a greater level of access should a chronic illness occur. The policy includes the inherent Chronic Illness Rider, which allows clients to access up to 50% of the policy’s death benefit, and the Chronic Illness Plus Rider allows them to access up to 100% of the remaining available death benefit. Even better, the riders can be used together to provide clients with even more flexibility should they need it. Check out this case study that illustrates how Symetra UL-G with Chronic Illness Plus provided a dual solution for a client’s unexpected chronic illness.
- One IUL Case = Three Rewards
Make your next IUL sale with Transamerica and earn up to three rewards. Learn and Earnoffers the chance at a 10% commission bonus on your next IUL case. Break Away offers personal travel packages to a variety of locations. And, every IUL case you close by 12/31/15 earns double credit towards qualifying for the 2016 Leading Distributors Club Convention in Barcelona.
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Guidance Followers – client profile
Guidance Followers are concerned about being a financial burden to their families. Learn why professional guidance is important to these clients.
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Selling Smart – increase your earning potential!
View the Selling Smart webinar series to understand the needs of five key consumer segments, and learn sales ideas for success.
- Have your Agents Sell More to Existing Clients
If your agents have sold a term policy in the last few years, the Transamerica Opportunity Program (TOP) can offer their existing clients additional coverage with living benefits.
- New form requirement for CA
A new Beneficiary/Additional Insured Information (BAII) supplemental form is required with applications on all Transamerica universal, term and Final Expense products. (Please note: TransNavigator IUL does not require this new form.) Transition rules are as follows:
- If applications are signed on or before November 16, 2015, the new BAII Supplemental Form will not be required.
- If applications are signed between November 17, 2015 and January 2, 2016, the new form will be a delivery requirement for policy placement if the form was not returned prior to policy print.
- If applications are signed on or after January 3, 2016, the new form is needed prior to policy print.
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COMBO PRODUCTS
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- Advanced sales ideas for Total Living Coverage (TLC)
This new case study – Working in Harmony: LTC & TLC – will help you present options to clients who need to repurpose their life insurance policy. In this new case study, a couple works with their financial professional to address long term care (LTC) concerns and also satisfying a desire to preserve their assets.
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ANNUITIES
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- New Client Profile Form for Non-Grantor Trusts and Corporations Only
A new, separate Client Profile Form has been created to be used specifically for non-grantor trusts and corporations purchasing an annuity.
- For all other types of ownerships – including natural entities and grantor trusts – continue to use the generic Client Profile Form.
- American Pathway Immediate Annuity
Help your clients potentially increase Social Security benefits later AND maintain the lifestyle they want now. For clients nearing retirement, deferring Social Security benefits until age 70 could increase their monthly benefits by as much as 32%1. Consider deferring Social Security until a later date using a period certain annuity income bridge strategy. Watch the video below to learn how to help get your clients on the path to low risk, long-term retirement solutions.
- Annuity rates
View the rates, effective September 28, 2015.
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Uncapped Volatility Control Spread Strategy – COMING OCTOBER 19th!
The new volatility control spread strategy uses the Barclays US Low Volatility II Equity ER Index and will be available October 19, 2015.
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CapMax Index Crediting Strategy discontinued – effective October 19th
The CapMax index crediting strategy is being discontinued for new sales of SecureLiving index annuity contracts. The CapMax index crediting strategy will no longer be available for contracts with an application signed on or after October 19, 2015. Where applicable, CapMax will remain available on previously issued contracts.
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Lincoln Leader for Fixed Annuities – September 14th edition
In this issue:
- Lincoln OptiBlend new state availability
- Lincoln New Directions product updates
- Flexible Premium Report available for Deferred Income Solutions Annuity
- Non-Natural Person Ownership of Fixed Deferred Annuities
- Obtaining Renewal Rates for existing contracts
- Allocating Subsequent Premiums
- State Licensing and Training: New Tennessee Annuity
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New Index Crediting Method – now available!
VOYA’s new Point-to-Point Volatility Control Strategy is now available on the Secure Index Family of Products and features spread rates as low as 1.75%. See the new rates and features.
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LONG TERM CARE
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- Get to know Performance LTC
Whether you’ve been selling Performance LTC since it was introduced, or the product is new to you, John Hancock has developed material that will provide you with everything you need to know about this innovative coverage.
- Facts at-a-Glance is a quick reference tool that includes a high-level description of the features and benefits of Performance LTC.
- Consumer approved marketing materials for your agents
- Invite Advertisement – this advertisement will help spread the word about any educational seminars your agents have scheduled
- Invite Letter – your agents can use this letter to encourage prospects to come and learn more about long-term care and the important role LTCI can play in their financial planning
- Print Advertisement – Live life on your terms is customizable with your agents contact information
- Signed Illustration Process
John Hancock currently requires a signed illustration with every Performance LTC application. They also require a revised signed illustration prior to issue if there is a change to the premium during the new business process or if the client is requesting a reissue that changes the premium. New Business will accept a revised unsigned illustration prior to issue. This unsigned version will be included in the policy packet for the client and agent to sign on delivery. Please note if an updated illustration is required and not received prior to issue, John Hancock will not issue the policy.
- In-force rate action notifications for late October
In late October, John Hancock will begin policyholder notifications on John Hancock and Fortis policies impacted by the 2010 and 2013 in-force rate actions, which will have an effective date beginning with anniversaries on or after January 1, 2016.
- The 2013 rate action notifications will include John Hancock LTCI individual policies originally issued in Wisconsin. Also, the implementation of the 2013 rate increase in North Dakota will be continued for policyholders who have received an initial “capped” increase. Fortis LTCI individual policies originally issued in Utah, Pennsylvania, and North Carolina are also impacted.
- The 2010 rate action will include John Hancock LTCI individual policies originally issued in Massachusetts and Fortis LTCI policies in Wisconsin will enter the next phase of implementation. Please click here for complete details.
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- LTC06UI rate adjustment for WI
A premium rate increase on the LTC06UI block of business in Wisconsin will be implemented, beginning December 1, 2015.
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CRITICAL ILLNESS
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No bulletins to report this week.
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DISABILITY
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- Income Guard is now available in CA
Watch the video below to see for yourself some of the features and benefits now available in the Golden State. And, take a look at the tools and resources available to help you build your business with MetLife Income Guard California.
- ESI – a smart option for DI Choice at Work
When a group qualifies for Express Standard Issue (ESI) underwriting with DI Choice at Work, enrollment is easy. Employees will be asked a maximum of seven questions to qualify, and there are no medical exams.
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MEDICARE SUPPLEMENTS
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- 12% Household Discount – coming to GA
Beginning October 1, 2015, the 12% household discount will be available on Omaha Insurance Company Medicare supplement in Georgia.
- October rate release for COView the rate adjustment effective October 1, 2015 on Mutual Colorado Medicare supplement.
- Rate adjustments in 4 statesView the rate adjustments on Modernized in-force only United World Colorado; Standardized United Georgia and Mutual Wisconsin; and Plan N United World Colorado and United Texas.
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BROKER/AGENT INCENTIVES
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- 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.
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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 details here.
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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.
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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.
- 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.
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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.
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Founders PLus Bonus Program (EXTENDED THROUGH DECEMBER 31, 2015)
This This means you have another three months to earn an additional 20% bonus compensation on all new PruLife Founders Plus UL business you place. 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.
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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!
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