- Insure Your Love – by LifeHappens
People buy life insurance not because of statistics or numbers; they buy it because they love someone and want to make sure they’d be OK financially if they were to die prematurely. But more than 100 million Americans aren’t doing that! That’s why in February Life Happens coordinates the Insure Your Love campaign. All the marketing resources they’ve created show what life insurance does, not just what it is.
- The life insurance strategy both U.S. and Foreign National clients might want
No matter who you’re selling to, indexed universal life products can provide a much-needed safety net from taxes and down markets.
- 6 strategies for “Reaching the Rich”
John Deremo, EVP and CDO of Life Insurance at AIG talks super affluent, IRA’s, beneficiaries, wealth transfer, and provides 6 ideas to “use life insurance strategies to target the affluent market” in this recent National Underwriter Life and Health article.
- 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on how long a portfolio will last if the portfolio is 1) in the distribution stage and 2) if a fixed amount is being withdrawn from the portfolio.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.
- New monthly modal factor on Select-a-Term
The monthly modal factor on AG Select-a-Term has been lowered; significantly improving its competitive position on a monthly basis. Visit www.aig.com/termlife for transition rules and to learn more.
- Revised commission adjustment guidelines for internal/affiliate replacements
Most notably, there was a change to the Perm to Term commission rules. In addition, the Replacement Information Notice has been revised.
- HIV Consent for NH
The New Hampshire HIV Consent Form – GEFA 1841 08/01/15 – has been updated to comply with New Hampshire Regulation Rule ADC Ins 1100 and is ready for use. Older versions of the form will be accepted through January 8, 2016.
- Class Match is almost over. Get in the game!
The MetLife Class Match Program will issue a new policy matching a client’s inforce policy’s underwriting class and face amount…up to $1.5 million. Whether it’s from MetLife or another eligible carrier, the existing policy must have been issued for a minimum of six months and within the maximum of the last 60 months (five years) of the date of the new MetLife application. Applications must be received in good order by December 31, 2015 in order to qualify for this program.
- The BOSS (Business Owner Strategic Solutions)
From charitable planning to dynasty trusts, the BOSS site has resources that can help you help them with all their protection and planning needs. Unlock the best strategy for your client using the BOSS Insurance Selector, or browse through all the great tools designed to help meet the needs of business owners.
- An offer for your New York clients
ADBR mailing to policyowners in New York.
- Premier Accumulator UL available now available in Puerto Rico
Visit www.paul.metlife.com for more details on the product.
- Changes to life application in NY
An update has been made to the Statement of Health Form. It is no longer required on all applications
- LTC Rider approved in NY
You can now offer this coverage to your New York clients.
- Salary Saver is sunsetting at the end of the year
Read the bulletin.
- New term rates
- LTC Agreement
Long-term care (LTC) can drain your clients’ life savings and take a toll on family members who unexpectedly must serve as caregivers. Yet fewer than 3 percent of American adults have purchased an LTC insurance policy. The LTC Agreement, available on select Minnesota Life policies, offers clients long-term care benefits, a death benefit or both.
- Updates to same-sex couples advisor guide
In June 2015, the U.S. Supreme Court made a landmark decision which made state-level bans on same-sex marriage unconstitutional. As a result, Minnesota Life has updated their This is Family: Same-sex couples Advisor Guide to reflect the current opportunities for financial advisement.
- Marijuana-related business underwriting guidelines
Minnesota Life and Securian Life will not participate in underwriting policies involving marijuana-related businesses; including (but not limited to) the proposed insured or policy owner.
- The cake doesn’t need an extra candle
With “Age Last Birthday” underwriting, you can secure your client a better rate.
- Help your clients plan for the unexpected…and for retirement
Your clients might be looking at a Guaranteed Universal Life policy to plan for the unexpected, but you can also help them plan for retirement with the Guaranteed Refund Option rider.
- Do have clients who want to leave a financial legacy?
Legacy Building is a strategy that uses permanent life insurance to offer death benefit protection and may be one of the most favorable methods to build a legacy since life insurance pays a generally tax-free death benefit. If your client has funds they want to leave to their children, grandchildren, charity, or others, the legacy building strategy may be right for them. You can also view this pre-recorded webinar to learn more.
- A UL solution that costs 12% less than traditional term
Clients looking for short-duration coverage want more choices to pick the exact amount of coverage they need, and not pay for something they don’t. Thankfully, you can provide this choice for 12% less in annual premium when compared to a traditional term solution. Learn more.
- New Womens’ Market eKit
In many families and communities, women are the driving force that makes things happen. But they still face financial challenges. By helping women create a financial strategy, we can help them build stronger futures for themselves, their families, and their communities. This ekit highlights the available marketing material created by Prudential to help you develop an effective approach to increasing your presence with women and to successfully discuss their life insurance needs.
- Completing the Life Insurance Agreement (LIA) Form
Please review this critical guide to ensure you understand the guidelines around proper forms completion and submission, and are providing the appropriate information to our clients at the Point of Sale.
- Executive Compensation Plans
Qualified plans are not always adequate to recruit and retain the best senior managers and executives. As a result, many business owners will look to tax-advantaged non-qualified planning options to offer additional benefits to their key employees. This consumer approved brochure highlights many of the non-qualified planning options available.
- UL-G LPB Premier Pricing is in a class of its own
Designed to provide lower premiums on your larger cases, LPB Premier premiums average 6-10% less than the No. 2 ranked guaranteed universal life insurance carrier. Plus, it requires no additional effort on your part. If your clients meet our eligibility criteria, Premier pricing is automatically applied when you run an illustration.
- Maximize Sales with Enhanced Living Benefits
Grow your sales with Trendsetter LB; which offers a recently increased maximum face amount of $2,000,000 and a new maximum acceleration of $1,500,000 to help pay for qualifying Critical, Chronic or Terminal illness.
- The “Smartphone” of the Financial Industry
This consumer article discusses the versatility of today’s life insurance.
- Have clients seeking protection and tax-favored cash accumulation?
Show them how an IUL Cap and a Floor can be advantageous over the long-term.
- Quick Reference Guide to Foreign Nationals
The GlobalPAK base deck includes tip and FAQs. The city cards include demographics for 57 cities and metro areas in the US.
- Underwriting updates
The following Underwriting Guides have been updated as of October 2015.
- Limited illustrations to be provided on certain inforce policies
Transamerica will ONLY illustrate the guaranteed future interest rate and monthly deductions for inforce policies of certain products. Get details.
- Clients think their wealth protects them from long-term care risk
You know it’s their wealth that needs protecting. Let Lincoln help you dispel the myths. Download these conversation starters.
- Uncapped Volatility Control Spread Strategy now available in CA
- Product discontinuation – effective December 1st
With the launch of the new Charter Plus fixed index annuity, the Charter, Precision Series, and Prizm Plus fixed index annuities will be discontinued on December 1, 2015. States affected include: AZ, AR, CO, DC, FL, GA, ID, IN, IA, KS, LA, ME, MD MI, MT, NE, NV, NJ, NC, OH, RI, SD, TN, TX, UT, VT, WV, WI, WY. Applications received on or after December 1, 2015 will not be accepted for these products.
- Changes to the Income Pay, Guaranteed Minimum Withdrawal Benefit Rider – effective December 1st
- New Income Pay Plus optional Guaranteed Lifetime Withdrawal Benefit Rider – coming December 1st
- New Fixed Index Annuity available in IL & NM – effective December 1st
- Learn about various LTC funding solutions
The LTC Source is a new website for professionals looking to grow their LTC knowledge. It is filled with tools based on Genworth’s 40+ years of LTC insurance experience to give you the expertise required to present personalized solutions.
- Privileged Choice Flex 3
- Long Term Care Insurance Unwrapped
This brochure includes strategies you can begin using with your clients today.
- In-Force Rate Action announcements
- Performance LTC available in NJ – effective December 7th
Get details and transition guidelines.
- Custom Care III featuring Benefit Builder discontinued in NJ – effective December 14th
All Custom Care III featuring Benefit Builder applications must be signed and received in the Home Office no later than December 14, 2015. LTC Captivate cases must also be signed and submitted through the system no later than December 14, 2015.
- In-force rate action notifications for late December
- Long Term Care premium deductions for 2016
The IRS announced its annual cost-of-living and inflation adjustments for 2016. Tax laws require the IRS to adjust the dollar amounts of dozens of tax provisions each year to account for inflation, including adjustments for eligible long-term care insurance (“LTCI”) premium deductions. Tax-qualified LTCI premiums are considered medical expenses for an individual who itemizes income tax. Learn more.
- Overcoming Client Objections About Long-Term Care
The video below features talking points you can use to start a conversation or overcome client objections. It focuses on the pitfalls of relying on the myths that surround long-term care, allowing you to address the most common misconceptions. Then, your clients will have the facts they need to help them make informed decisions about the future.
- Tools to put LTCi on your client’s radar screen
It’s not uncommon to hear people say, “I need a new car…a new house…a new job.” But how often do you hear, “I need long-term care insurance?” For LTC Awareness Month, here are some tools to help you start the LTCi conversation with your clients.
|No bulletins to report this week.
- Good/Better/Best Premium OptionsMutual of Omaha has added an alternative premium option to the WinFlex DI quoting system. Each DI quote will have the option to add a “Good, Better, Best” alternate premium page so the client can review options in a tiered format. Make sure your WinFlex software is always updated to be able to view the “Good, Better, Best” premium rate options when you run a DI quote.
- 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 details here.
- 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.
- Earn 1% of ANBP
- 1 credit = $1
- 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.
- 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%
- Get complete details.
- Founders PLus Bonus Program (EXTENDED THROUGH DECEMBER 31, 2015)
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.
- 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!