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IMPORTANT INFORMATION REGARDING ACTUARIAL GUIDELINE 38 (AG38)
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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.
Our Important AG38 Carrier Summary highlights important transition dates and links to carrier bulletins.
Use both communications with your brokers to help them understand and take action regarding AG38. |
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UPCOMING WEBINARS & TELECONFERENCES
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- Aviva:
- January webcast schedule and instructions
– January 2nd – Retirement Path Roadmap
– January 8th – Wellness for Life Rider
– January 10th – Survivorship Builder
– January 14th – Social Security
– January 15th – Cash Accumulation Portfolio
– January 18th – Spotlight on Success
– January 22nd – Life Portraits Sales Solutions – The Basics
– January 23rd – Aviva Resources
– January 24th – Not All IULs Are Created Equal
– January 29th – Annuity 101
– January 30th – Accelerated Access Rider
– January 31st – Indexed Universal Life Basics
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- American General:
- Aviva:
- North American:
- Protective Life:
- Prudential:
- United/Mutual of Omaha:
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- Protective Life:
- Transamerica:
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- Your uninsurable long-term care insurance client
Any order taker can clap when the insurer says yes. Pros know what to do when the insurer says no.
- Who buys LTCI?
Many Americans believe they should do their best to take responsibility for their own needs.
- John Hancock:
- Transamerica:
- TransCare II 2012 launched in 41 states
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- American General:
- American National:
- Cash is King 2013 (January 1, 2013 – April 30, 2013)
Receive a CASH BONUS for the total of all Fixed Annuities written and paid.
$1,000,001+: $1,000
$750,001 – $1,000,000: $750
$500,001 – $750,000: $500
- John Hancock:
- Benefit Builder Bonus – (January 1, 2013 – 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.
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