 SALES ARTICLES |
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- New York Regulation 60 changes
- One-click APS status added to LGAmerica.com
Log-in to LGAmerica.com, enter the policy number in the Policy Search and hit the “VIEW APS STATUS” button on the Policy Detail screen. (If there is no status, the button won’t be there.) If you don’t have a policy number, you can also choose from the list of pending policies on the New Business screen. APS status will be provided on all APSs ordered by LGA and received since June 4, 2015. All APS orders placed by LGA are sent to Parameds.com which is abbreviated as PDC on the screen. If more than one APS is ordered, status for each will be provided. APS status will no longer be included in the Underwriting Notes. The new status updates will also be transmitted to your agency management system provider. AMS feeds have been tested by our vendors; all are operational.
- A.M. Best affirms A+ rating
See the full press release for LGA. See the full press release for L&G Group.
- New Electronic Inspection Reports
EIR’s will be automatically ordered for the majority of new cases and have already resulted in faster turnaround times and less intrusion into the lives of clients. View this age and amount requirements grid for your convenience.
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CARRIER & INDUSTRY
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LIFE INSURANCE
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- Lifetime Foundation
Lifetime Foundation is a first-of-its-kind permanent life insurance product with death benefit guarantees that adjust to your clients’ changing needs.
- Word on the Street communication
In this edition:
- Second-to-Die that is second-to-none
- Improved rating class due to the Accordia Life Credits Program
- Term
- Indexed Universal Life
- Need a solution that performs well at low illustrated rates?
Even at 4% and 5% returns, the Value+ IUL helps minimize the impact of volatility to the client.
- Value, protection and flexibility
Think you know all you need to know about IUL? Click here to read about a fresh new take.
- Underwriting
- Underwriting overhaul – in depth
AIG has made big changes with big underwriting enhancements; including the elimination of the 4506T tax transcript for policies under $5 million. Learn more.
- Premier Accumulator UL (PAUL)
Learn more about PAUL in 3 minutes.
- Underwriting
- Better offers for clients with Barrett’s Esophagus
Revised Medical Underwriting Guidelines for Barrett’s Esophagus could result in more favorable offers.
- Life New Business mailing addresses for life new business
View the mailing information for submitting documents to Life New Business.
- Updated Mobile App
Mutual of Omaha’s mobile quoting app, “Quotes for Sales Professionals,” has been updated to include the new Term Life Express 10 year term and the Children’s Whole Life maximum issue ages.
- The Living Benefits of GUL
The primary reason your clients purchase life insurance is to protect their loved ones in case the unexpected happens. What many don’t realize is that a life insurance policy can also provide benefits while they are still alive. GUL and GUL Plus come with multiple living benefits, including the Guaranteed Refund Option rider, at no additional charge. These features provide your clients with flexibility for whatever their future holds.
- FIT Credit Program
Get the best term life rates with the FIT credit program, which allows your clients to move up two tables.
- Updated New York Regulation 60 Replacement RulesOn July 20, 2015, changes will be made to the Regulation 60 Replacement process in New York.
- ADDvantage Term – lower rates and convertibility
Learn more.
- Using Life Insurance for annuity maximization
By using life insurance to maximize annuity funds, you can help provide your clients with the most value for their annuity funds, without the limitations of income or estate taxes. Watch this video to learn more.
- State specific announcements
- Rider Changes for California
Effective July 13, 2015, rider changes were made to Index Advantage UL, UL Protector, and Founders Plus products.
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Revised Replacement Regulation for New York – effective July 22nd
Prudential is moving to the one-step New York Reg 60 process. The new process and form changes will take effect for applications signed on July 22, 2015, or later.
- Underwriting
- Underwriting improvement for older ages – Prostate Specific Antigen (PSA)
More of your clients who have had PSA values outside the traditional range may now be eligible to qualify for coverage. Read more.
- Sales/Marketing
- Nurture clients’ trust with first-year flexibility
Prudential understands that things don’t always go as planned. First-Year Flexibility on the PruLife Founders Plus helps to solve for the unexpected while nurturing the trust your clients place in you.
- Need help capitalizing on the $11 trillion women’s market?
Check out Prudential’s new online library of Brainshark presentations that help you grow your business in the women’s market.
- Help clients preserve their legacy
Asset Protection+ is a simple and effective strategy that can help clients preserve and potentially enhance their legacy by repositioning assets that they do not expect to need during life (your legacy assets) to pay premiums for a life insurance policy.
- Symetra is out to win your larger GUL/SGUL cases
Learn all about it.
- Update on Charitable Remainder Trusts
Symetra is now able to issue non-qualified annuity contracts owned by Charitable Remainder Trusts (CRTs). Be sure to quote Symetra when clients are considering trust-owned annuities. As with other types of trusts, new business submissions for charitable remainder trusts must include a Symetra Trustee Certification form. Here are some other non-natural owner type reminders:
- Trusts: Symetra continues to issue contracts to most types of trusts. New business submissions must include a Symetra Trustee Certification form.
- Corporations: Symetra issues contracts to most types of corporations. New business submissions must include Corporate Resolution Documents or a Symetra Corporate Resolution form (RSNB-0033 11/14).
- Employer-sponsored retirement plans: Symetra does not currently issue contracts intended to serve as investment vehicles for employer-sponsored retirement plans.
- GoodLife Rewards
Symetra’s GoodLife Rewards rewards your clients for their good health by granting credits towards their health impairment ratings; resulting in better underwriting rate classes.
- TransNavigator IUL is now available in the Virgin Islands
TransNavigator is a versatile product that offers death benefit protection and cash accumulation potential, with a choice of domestic and/or global index account options, annual point-to-point crediting and “Plus” index accounts that offer a higher cap for a 1% annual Index Account Monthly Charge. It’s built to compete in today’s market and includes the Income Protection Option (IPO) and a Persistency Credit. Note: LTC and Disability Riders are not available in the Virgin Islands.
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COMBO PRODUCTS
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ANNUITIES
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- Palladium Single Premium Immediate Annuity
See how Palladium SPIA ranks in July 2015.
- Enhanced rate sheets
American National rate sheets will now show BOTH the interest rates for initial premiums above and below $100,000 on MYG and WealthQuest products. View July’s rate sheet.
- State specific announcements
- Awesome MYGA rates
Guarantee Choice Multi-Year Guarantee Annuity (MYGA)
- 2.60% – Guaranteed 5 Years – Interest Rate for Initial Premium of $200,000+
- 2.35% – Guaranteed 5 Years – Interest Rate for Initial Premium under $200,000
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Volatility Control Index available in TX – effective July 21st
The new Volatility Control Index on Performance Choice 8, 8 Plus, 12 and 12 Plus will be available in Texas on July 21, 2015. Click here for everything you need to get started with the Performance Choice portfolio.
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- CWA’s
Cash With Applications received on Tuesday, June 16, 2015 or before will receive the rate that was effective the date the application was received. Cash With Applications received Wednesday, June 17, 2015 will receive the rates effective that day.
- Transfer Adds / Issues
The policy will automatically receive the higher rate if the funds are received on or after Wednesday, June 17, 2015 (if the new rate is higher/better than the rates when the application was received). The original rate will still be applied if the rates happen to go back down before the funds arrive, we will not hold the “in-between” higher rate.
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LONG TERM CARE
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- Producer Guide to In-Force Rate Action
The 2015 Producer Guide to IFA provides information to help you and your clients through the rate action process and provides an overview of:
- Genworth’s in-force review process
- The rate increases we’ve requested on a nation-wide basis, by product and benefit period
- Client options with tips on how you can help them find the appropriate option to fit their needs and financial situation, and
- Helpful references to the Genworth 2015 Cost of Care Survey
- Important resources; including:
- Individual Policyholder Letters
- Field Bulletins, by state
- Sales and marketing videos
- Let’s Talk Long Term Care – conversations that make a difference
Help your client find the words to start the conversation. Visit the Long Term Care Sales Centerfor Genworth’s entire suite of Let’s Talk material.
- Privileged Choice Flex 3
- Revisions to MutualCare Solutions Product & Underwriting Guide and process
Improvements and revisions are being made to the MutualCare Solutions Product & Underwriting Guide; as well as its underwriting Processes.
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- The TALTC BIO Sweet Spots
- What Makes Transamerica Secure Different
- New Material Available for CT & FL
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CRITICAL ILLNESS
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DISABILITY
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- Disability Insurance 101
This video from the Life Foundation illustrates the importance of Disability Insurance if your clients lose the ability to earn an income.
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MEDICARE SUPPLEMENTS
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- Rate adjustments
View rate adjustments for United Maine and Omaha Insurance Company Virginia, United Georgia and United World Georgia and Virginia.
- 12% Household Discount with easy eligibility
Start quoting our discounted rate today – most of your applicants will qualify for it. Residents get the household discount rate when they either reside with a spouse or civil union/domestic partner, or have resided with an adult for at least one year and that person is age 60 or older.
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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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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.
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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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Application Bonus Compensation (May 1 – July 31, 2015)
Earning an extra $100 is as easy as ABC. Any agent submitting a new application for a Voya Fixed Index Annuity between May 1 and July 31, 2015 will receive $100 bonus.
Detailed information is as follows:
- Receive an additional $100 bonus for each fixed index annuity application submitted between May 1, 2015 and July 31, 2015.
- There is no limit to the number of applications submitted within this promotion period and to be eligible, there can be no recent fixed index annuity business with Voya from July 31, 2014 to April 30, 2015.
- Contracts that are free-looked will result in the forfeiture of the bonus incentive.
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