 SALES ARTICLES |
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CARRIER & INDUSTRY
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- New York home office move
- New York Reg 60 Replacement changes
On April 21, 2015, the New York State Department of Financial Services revised the Regulation 60 replacement requirements. The revised regulation gives carriers the option to provide the mandated disclosure statement with policy delivery documents instead of requiring it at the time of application. William Penn is working to adopt the new replacement procedures. Until announced, it is business as usual. If current procedures are not followed and an application is taken prior to completion of the disclosure statement, the application will be rejected. Look for an announcement regarding the new process and updated forms in the near future.
- Secure e-mail system upgrade
Protect yourself with the upcoming secure email upgrade. Get details.
- Here are your social media content plans for May!
Below are links to the social media content plans for May. The first week of May is National Small Business Week, so this month’s theme is all about small businesses. As always, this content is pre-approved by compliance and ready to copy/paste into your own social media pages. There are two different content plans:
- Agent Audience – this is for you, the MGA, and your staff to share on your agency’s company pages, or on individual profiles..wherever you have an agent audience!
- Client Audience – this is content for your agents to use to interact with their client networks, to help them stay top of mind and be a valuable resource.
- New York Reg 60 Replacement changes
Effective April 21, 2015, the New York State Department of Financial Services revised the Regulation 60 replacement requirements. These changes essentially impact the timing of the delivery of the Disclosure Statement to allow immediate binding of coverage. Click here for the new process and updated forms information.
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LIFE INSURANCE
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- AIG AdvancedMarkets brings you InsMark – for FREE
People don’t buy life insurance. They buy what life insurance can do for them. InsMark’s consumer-friendly concept presentations can help your clients see the benefits. And, now InsMark is FREE!
- The Latest OnTopic from AIG AdvancedMarkets
Click here to understand the 2016 Federal Budget Proposals and discuss the potential impact of proposed changes to the Capital Gains Rate, the addition of a Fair Share Tax, and more.
- Advanced Markets has consulted on over 450 cases since the beginning of 2015
They’ve spent over 300 hours on the phone and in person helping design and close big cases. Were you one of them? Learn how they can help.
- New submission requirement for Index Universal Life products
All applications submitted for Asset Builder Index UL II and Foundation Builder Index UL are required to include the new Index Universal Life Key Points Disclosure form (Form # 162696).View the bulletin.
- Signed Illustration requirements – reminder
View the bulletin.
- Massachusetts HIV Consent
The HIV Consent Form – GEFA1856 (revision date 11/4/14) – has been updated to comply with the Massachusetts Regulation 211 CMR 36.01; removing the word “AIDS” and replacing it with the term “HIV”. The new form is now available. Older versions of the form will be accepted until July 26, 2015.
- Improved underwriting guidelines
Click here to learn what’s new! Click here to view all of the Underwriting Guidelines. And, be sure to get underwriting materials on the no-login-required underwriting microsite.
- OPTerm
OPTerm has new rates, a new child rider, and a new premium band of $250,000-$499,999.Check out how the new OPTerm rates stack up against the competition with these two comparisons – comparison 1…comparison 2. Also, be sure to take advantage of Quotes Done Right and the Get More Program.
- Illustration Manager updated
The ‘Previous Rates’ option in Illustration Manager for OPTerm products were producing the incorrect premium amounts in the $250,000-499,999 band. Illustration Manager was using the $100,000-249,999 band for $250,000-499,999 coverage.
- Illustrations for the new OPTerm Rates, launched April 20 2015, are accurate.
- Illustration Manager Software v1.9 has been updated and is available for download fromwww.lgamerica.com.
- WinFlex, www.lgamerica.com and MoblieSuite have been updated and are running the corrected rates. All other quoting vendors were not affected.
- Underwriting Left Ventricular Hypertrophy
Read this new Underwriting Dialogue; focusing on Left Ventricular Hypertrophy. To view underwriting materials on the InTouch Underwriting microsite.
- Discussing Intentionally Defective Irrevocable Trust (IDIT)
Defective trusts may be right for some clients. Learn more!
- Important IOLI and STOLI reminders
Please review these reminders of Mutual’s position regarding certain transactions.
- The Guaranteed Refund Option is now available in New York
The Guaranteed Refund Option, available on all new qualified GUL and GUL Plus policies, offers your clients a 60-day window at three intervals in which to receive back a portion of their paid premiums.
- AccumUL Answers and new riders now available in CT
AccumUL Answers, as well as new riders (Accelerated Death Benefit Rider and Disability Continuation of Planned Premium Rider), are now available for your clients in Connecticut.
- Term Life Express – enhancements
Effective May 1, 2015, Term Life Express has a number of enhancements; including the removal of the oral fluid requirement across all face amounts.
- Watch and Learn About Using Life Insurance for Legacy Building
Put this sales strategy to work for you. Click the image below and watch the video to quickly understand a concept that can help your clients gain death benefit protection and a way to use life insurance to help pass along funds as a legacy. Build your skills, gain insightful tips, and put this sales concept into practice today.
- Does your UL sales approach deliver?
Focusing on the lowest premium in pursuit of insurance solutions can cause your clients to miss out on opportunities to enhance their coverage. Help your clients get protection that’s worth the price with Protective Advantage Choice UL. Compare Protective to the competition and see how they can offer clients more cash value, lasting protection guarantees AND flexible features for custom coverage!
- Protective Today – April 30th edition
In this issue:
- Selling Value with Protective Life
- The Protective Life Sales Convention,
- Protective Products Perform
- Low Interest Rate Planning
Today’s low interest rate environment continues to present efficient wealth transfer opportunities, but they require careful planning. Leverage Prudential’s new eKit with your clients for education around these techniques and how to put strategies to action. Remember: No one knows when rates will rise. Until then, your clients have a window of opportunity.
- Mobile Toolkit: Learn It, Use It, Love It
Prudential’s Mobile Toolkit can help your clients benefit through an interactive experience. You’ll be able to use your smart phone or tablet to answer three key life insurance questions with your clients:
- Can I qualify for coverage?
- Generate new sales in the hottest market
Are you interested in learning how to generate new sales in the hottest market? All year long, Transamerica will help you grow your business with new markets; while rewarding you in the process. Click the image below to watch Transamerica’s John Oliver show you how!
- A tip to keep TOP of mind
TOP and TOP Plus are great programs to suggest to clients when applicable. Eliminate the confusion in determining a client’s eligibility for TOP and TOP Plus by keeping this interactive chart close at hand. What makes this so helpful is that at each step, you can click on which option applies to the case you’re working on so you never get lost in the process. It has everything you need to know, including qualification details, application requirements and even a program overview. Click here to check it out.
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COMBO PRODUCTS
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- How hard is your clients’ money working?
Your clients have worked hard to make their money. And now they want their money to work hard for them. Yet it could be locked up in savings, checking, or a CD, and earning next to nothing. Good news: Finding a way to make your clients’ money work harder could be easier than you think. Total Living Coverage (TLC) is a linked benefits life insurance product that can leverage lazy money into valuable protection. It instantly provides your clients with approximately 2x their initial premium for a death benefit and almost 5.5x their initial premium for covered long term care benefits.
- Total Living Coverage to launch in CT & FL – effective June 1st
View the bulletin.
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ANNUITIES
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- Illustrating withdrawals for Genworth Growth+
You can now illustrate the highly demanded non-rider withdrawals from Growth+ prior to turning on the income rider. Take a look at this screenshot with instructions; as well as 2 sample illustrations – sample 1…sample 2. You can now show RMDs for qualified funds or a free withdrawal percentage or amount for both qualified and non-qualified funds prior to the income withdrawals beginning. This exciting enhancement should be a big help in conveying the flexibility and access to funds for the product.
- NAC BenefitSolutions Fixed Index Annuity
This annuity is a competitive product for your “joint income now” clients.
- 20% Benefit Base Bonus Day One
- Lifetime Income Available Immediately
- Enhanced Death Benefit Feature
- NAC IncomeChoice Fixed Index Annuity
Offer clients industry-leading income payouts. The NAC IncomeChoice offers best-in-class Lifetime Payment Amounts growth potential without an additional rider charge. Download thePower of Stacking flyer.
- Illustration Quick Tips
Want to see how our products stack up but need help running an illustration? Watch this short video guide.
- Build Wealth Plus Income
The new Voya Wealth Builder Plus Annuity has cap rates up to 6.25% and guaranteed lifetime income.
- Show clients how to grow, protect and enjoy their retirement savings
View a sneak peak of the Voya Secure Index Opportunities Plus Annuity client approved video.
- Application revision for VA
The Virginia specific applications – listed below – have been updated for the Regulatory Settlement Agreement and the removal of the Interest Rate Benchmark strategy. The updated forms are now available. In addition, Virginia has approved the use of a state specific application for the Voya Wealth Builder Series of Annuities. This state specific form – 168243 – is now available as well.
- 171197 – Multi Product FIA
- 171198 – Multi Product FIA Bank
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LONG TERM CARE
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- LTCi- Stacking Up to the Competition
When it comes to selecting an LTCi carrier, you have lots of choices. Contemporary, innovative products, competitive pricing and a company that’s financially strong are three good reasons your clients will appreciate Mutual of Omaha’s LTCi. View the competitive comparison flyer.
- LTC News – April 30th edition
In this issue:
- Multi-Life tools training to boost your success
- New Multi-Life sales materials to help you succeed
- Agent training gets high marks
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CRITICAL ILLNESS
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- Do your business clients have buy-sells in place? They are probably missing something.
A male age 55 is over 8 times more likely to suffer a critical illness than an untimely death. This means you have a reason to talk to every business owner you know. Learn more.
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DISABILITY
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- Great tools from Life Happens
- Disability Insurance videos
- Step-by-Step Guide for Disability Income Choice at Work
Small business owners and their employees need disability income protection. Selling multi-life DI to this market is a great way to grow your sales and increase referrals. Disability Income Choice at Work gives you the right products, underwriting programs, materials and support to tailor a DI solution for any small business. View the step-by-step guide.
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MEDICARE SUPPLEMENTS
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BROKER/AGENT INCENTIVES
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- 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.
- 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.
- Special Med Supp Cash for Apps in Ohio (March 1 – May 31, 2015)
All Omaha Insurance Company Medicare supplement net-issued applications in Ohio from March 1, 2015 – May 31, 2015 will earn cash. 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! 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.
- 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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