IMPORTANT INFORMATION REGARDING ACTUARIAL GUIDELINE 38 (AG38)
The adoption of AG38 may cause Guaranteed Death Benefit UL prices to rise. It is reasonable to expect that some carriers will discontinue offering them. Stay up-to-date by visiting the AG38 rotator on the homepage of the TMA website or call TMA Life Sales & Marketing Support Desk at 877-862-8622.
This is a good time to encourage your brokers to speak with their convertible term clients. Buyers of convertible term are frequently cost conscious buyers. They bought the term, at least in part, on price and also for the guaranteed death benefit. Beginning in 2013, should they want to convert to a guaranteed death benefit UL product, they may pay much more – if the product is available. At the very least your brokers owe their clients a conversation and an offer to convert before AG38 causes changes to guaranteed death benefit ULs.
What does AG38 mean to producers & carriers? Are your brokers prepared for these changes and how can you capitalize on it to win more business?
AG38 & The Low Interest Rate Environment contains important information combined with TMA carrier bulletins regarding AG38 transition guidelines, re-pricing, 1st year premium limitations and additional information.
Life insurance: 5 things to expect in 2013
It will be a transition year for the life insurance industry, which faces possible changes to the tax-favored status of life products, as well as challenges in remaining relevant to younger consumers.
American Elite Whole Life discontinued – effective December 20th
Effective December 20th, the American Elite Whole Life product will no longer be available for new sales. It will be available for term conversions only.
Real Time Pricing: A Commitment to Guarantees(video)
This is a breakthrough, AG38-compliant solution that reinforces Transamerica’s dedication and commitment to the guaranteed UL market. Real Time Pricing meets the consumer demand for sustainable lifetime guaranteed UL products, offers access to ACE interest rates that are responsive and up-to-date, and locks in ACE interest rates with a solution that automatically gives clients the better rates, if available, at the time of policy issue. ACE Interest Rates: threshold interest rates for Single Universal Life products (current as of December 19, 2012) Declared Interest Rates(current as of December 15, 2012)
Introducing LTC Essentials
This brochure helps you introduce LTCi to your clients and educate them about what it covers and why it is needed. Long Term Care Essentials can help you introduce the idea of long term care, educate your clients about long term care and have your clients requesting more information about TransCare II 2012.
United/Mutual of Omaha:
The importance of LTC in retirement planning
As people plan for retirement, they often overlook the fact that there’s something with the potential to derail their plans. That something is the need for LTC services. Learn why LTC is an important element in retirement planning.
eApp iPad Contest (ENDS December 31, 2012)
Receive a Free iPad when you submit 6 paid life policies through iGO e-App.
2013 Marketing Conference(ENDS December 31, 2012)
The top 80 licensed representatives of American National who qualify in accordance with the official requirements are eligible for an invitation to attend the 2013 Marketing Conference in Palmilla, Los Cabos, Mexico May 19 – 23, 2013.
Benefit Builder Bonus – (January 1 – June 30, 2013)
By selling Custom Care III featuring Benefit Builder between January 1 and June 30, 2013, you can increase your earnings!
Bonus Level 1 – $5,000-$17,499: 10% bonus
Bonus Level 2 – $17,500-$34,999: 15% bonus
Bonus Level 3 – $35,000-$2,000,000 – 20% bonus
Details and program rules in the link above.