IN THIS WEEKS NEWS: November 12, 2014
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UPCOMING WEBINARS
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- AIG:
- American Pathway Deferred Income Annuity (DIA) now available as a QLAC!
Changes in IRS regulations for required minimum distributions (RMDs) now allow a DIA to be offered as a Qualified Longevity Annuity Contract (QLAC). The result is your clients will be able to postpone taking part of their RMDs until an advanced age … 80 or 85.
Join this webinar discussion to learn the benefits of a QLAC and how American Pathway Deferred Income Annuity as a QLAC may be a good option for your clients.
- Annuity webinars
Click here for the Fall schedule and instructions.
- November 21st – Immediate and Deferred Income Annuities
- December 12th – The Good, The Bad and The Opportunities
- Genworth:
- Index UL 101 LIVE – webinar series
These short sessions are packed-with-information to give you an introduction to Index UL, tips to starting the conversation and closing the sale, the confidence and know-how to serve your clientele and insightful sales tips to improve your sales volume immediately. Register here!
- November 13th – 2:00 PM ET – Beyond the Death Benefit: Building Cash Value with Index UL Insurance
- November 20th – 2:00 PM ET – Index UL Insurance Sales Concepts
- December 4th – 2:00 PM ET – Introduction to Index UL Insurance: A Flexible Soultion for Protection, Accumulation and Retirement Solution
- Choosing a Long Term Care solution
Learn to identify a client’s need for an LTCI solution. Gain a better understanding of client attitudes, beliefs and behaviors about LTCI, Learn how to recommend a solution for each client, from traditional LTCI to linked benefits, life insurance with a qualified long term care (LTC) Accelerated Benefit Rider (ABR), and life insurance with a chronic illness rider
- Minnesota Life:
- 15-minute sales strategy teleconference – every Wednesday at 10:00 AM CT
Dial-in Number: 1-800-910-2399 Passcode: 224032
- North American:
- Longevity Planning
As life expectancy increases, your clients might face “longevity risk,” or the potential for assets to run out during retirement. In addition to providing death benefit protection, permanent life insurance can help your clients manage that risk. Attend this webinar to learn more!
- A Place to Call Home
Looking for a carrier that can offer a broad portfolio to meet your diverse list of client needs, competitive compensation for you, and the support and training to help you succeed? Then North American is the place to call home for your business. Attend this webinar to learn more.
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SALES ARTICLES
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IMPORTANT YEAR-END DATES
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- AIG:
- 2014 year-end Life processing dates
American General’s year-end processing cut-off dates represent deadlines that must be met for cases to have the best chance of being put in force in 2014. Timeline information is detailed in this bulletin.
- John Hancock:
- Year-End deadlines
As year-end approaches, key submission deadlines for cases you are targeting for completion in 2014 are noted in this flyer.
- Prudential:
- Year-End Dates & Reminders
As you prepare for year-end, use these helpful tips and reminders to make submitting Life cases easier.
- Symetra:
- Deadlines for year-end business are approaching
Final issue requirements for Life new business to be placed and counted in 2014 should be received by December 19th, if commissions are paid weekly, and December 26th, if commissions are paid daily. If you are working toward contest and production bonus goals, we encourage you to submit applications through Symetra Express as soon as possible. Express will determine if premium can be collected from applications that qualify for temporary coverage or instant approval. Allow enough lead time on fully underwritten business for the applicant to complete the medical history interview and para-med exam. These take three weeks to complete, on average.
- Voya Financial:
- Year-End deadlines
Be sure to send in requirements to have your new business placed and commissions paid in advance of these deadlines.
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CARRIER & INDUSTRY
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- MetLife:
- MetLife product illustrations unavailable November 14 to 17, 2014
MetLife will be merging three of its U.S. life insurance companies and one of its offshore reinsurers, effective Friday, November 14, 2014, subject to regulatory approval. Due to administrative and systems updates required to support the mergers, MetLife product illustrations will be unavailable from the close of business on Friday, November 14 (5:00 p.m. EST) until Monday, November 17, 2014. The Illustrations Update chart outlines availability and the user experience for each illustration system during this time period.
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LIFE INSURANCE
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- AIG:
- AG Asset Protector
The new generation of life insurance provides a unique set of living benefits not currently available anywhere else. Watch these 3 videos for:
- Help protect clients’ retirement assets from the financial strain of a chronic illness
This short video demonstrates that by choosing the Accelerated Access Solution (AAS) rider, clients can access income tax-free death benefits if diagnosed by a chronic illness while they are still living. Send clients customized flyers/links to these informative stats about chronic illnesses and the AAS flyer to have productive meetings on protecting retirement assets from potential financial strain of a chronic illness.
- Leverage Life Insurance To Help Clients Succeed In Business Succession Planning
In an Oct. 2014 Broker World article, AIG’s Senior Vice President of Advanced Marketing for Global Consumer Insurance, Charles “Chuck” Van Devander, talks about leveraging life insurance with smartly structured riders to address contingencies in succession planning.
- Save time with AG Quick Ticket and iPipeline
AG Quick Ticket is now available via iPipeline tools. No matter how you access AG Quick Ticket, quicker submission means quicker commission.
- Could you have done more?
New study reveals medical bills are the leading cause of personal bankruptcy. Help protect your client’s financial health with Accident Expense Plus supplemental insurance with a Critical Illness Rider option or CriticalCare Plus.
- Waiver temporarily suspended in California
Effective November 10, 2014, sales of the Waiver of Premium and Waiver of Monthly Deduction riders are temporarily suspended in California. Click here for details; including the products impacted and transition rules.
- MetLife:
- Secure Flex UL
You know the benefits that a universal life policy offers to your clients. But what do you tell clients who want a UL product that not only has guarantees, but also some flexibility and options? You tell them about MetLife Secure Flex Universal Life (UL).
- Minnesota Life:
- The $99 Legacy
How often do you meet with a client or potential client and the topic of children or grandchildren comes up? Parents and grandparents have the opportunity to leave a legacy to their children or grandchildren by providing one of the greatest gifts – life insurance. A policy can cost as little as $99 a month. And by purchasing a policy while children and grandchildren are young and in good health, parents and grandparents can help protect a lifetime of dreams at a minimal cost, while locking in insurability. Use the following materials to help you protect your client’s families:
- Mutual/United of Omaha:
- Provide flexible options for retirement
With the Guaranteed Refund Option, you can help your clients as they approach retirement.
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Florida Children’s Whole Life Parent Signature Requirement in FL –CORRECTION
We previously let you know that as of November 1, 2014, a parent’s signature would no longer be required for Children’s Whole Life applications submitted through the iGO application. Due to some unforeseen circumstances, this release has been moved back to a later date. We will keep you updated on the availability of this option once it is released.
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Transfer guidelines – updated
The updated guidelines can be found here. Updates include:
- Cancer, Heart Attack and Stroke guidelines have been added.
- Removing the requirement that Special Agents are limited to a maximum compensation of
Level 5 when transferring to a General Agent or Representative contract.
- Condensed wording as it pertains to Med Supp, the only difference is 12 months vs. 6 months, but all other Transfer Guidelines still apply.
- Revised requirements when only producer is required to sign the Transfer Request Form.
- North American Company:
- Time to collect fourth-quarter sales and submit your business
Here are three great sales ideas to help you make the extra push this year. With new products, conversion options, and sales concept kits, there’s no time like the present to submit your life insurance business with North American.
- Prudential:
- Protection and the opportunity to get money back
Have you ever thought about offering a life insurance policy that reduces your clients risk of spending money and never using it? Check out PruLife Return of Premium Term.
- Leveraged Gifting
Lifetime gifts alone can be an efficient way to transfer assets and minimize gift and estate tax, but gifts may be leveraged significantly with the purchase of life insurance. Life insurance proceeds are generally not subject to income taxes and if properly structured, may also be excluded from estate tax. Use the resources in this ekit.
- Preserve the GSTS Exemption with the Health and Education Exclusion
A Health and Education Exclusion Trust (HEET) can be created during your lifetime or upon death, to which none of your “GST exemption” is allocated, but can be used to pay for education and medical care of grandchildren and remote descendants without being subject to GST tax. Get complete details here.
- Transamerica:
- TransNavigator IUL now available in CT
TransNavigator offers death benefit protection and allows the policy owner to direct net premiums to a choice of domestic and global index accounts featuring annual point-to-point calculation. There are two “Plus” Index Account options that offer a higher Cap for an annual Index Account Monthly Charge of 0.0833% (1% annually). TransNavigator is built to compete in today’s market and offers a Long Term Care (LTC) Rider. For more details, please refer to the links provided below:
- Withdrawal of Freedom Index Universal Life II & Freedom Global IUL II in CT
With the release of TransNavigator IUL, the Freedom Index Universal Life II and Freedom Global IUL II products are being withdrawn in Connecticut. Applications for either product must be signed and received in good order – all fields completed and necessary forms submitted with signatures of all necessary parties – in the Home Office by December 5, 2014.
- Voya Financial:
- Using Voya-branded forms
The end of the year is fast approaching and so is the deadline for switching to Voya-branded forms. Effective January 1, 2015, Voya will no longer accept ING-branded forms.
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COMBO PRODUCTS
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ANNUITIES
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- American National:
- Value-Lock
Value-Lock 10 is an indexed annuity with NO CAP on the amount of interest that can be credited to the contract.
- 100% Participation Rate – guaranteed at issue for full indexing term
- Full Annuity Value at Death of owner
- 10 Year Surrender Schedule
- Genworth Financial:
- Genworth PRO updates – effective November 13th
- Secureliving rates increasing – effective November 12th
- North American Company:
- Top 3 reasons to sell NAC IncomeChoice 10
- Industry-Leading Income Payouts
- Built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) – No additional charge
- 3 Index Account Options with No Cap (Subject to a Participation Rate and/or Index Margin) -Up to 6 options available
- Volatility Control Index (S&P 500 Low Volatility Daily Risk Control 5%)
- 6% Street + 2% Special = 8% Total Comp
- Your clients want you and the solutions you offer to be dependable for the long term. North American, A+ (Superior) rated by AM Best, provides support and stability as you build your business.
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LONG TERM CARE
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- Genworth Financial:
- Think clients don’t like the idea of LTCI?
The reality is very different, and your opportunity to offer long term care insurance (LTCI) could be much bigger than you thought. Take a 30 second quiz to see if your perceptions are right or wrong. Check out the Dispel the Myths about Long Term Care brochure, where common LTCI myths are dispelled and facts are provided that just might change the way you approach long term care planning.
- In-Force Rate Action announcements
- John Hancock:
- LTC Matters – the need is real
As a financial professional, you know the role that long-term care insurance can play in financial planning. You also know that one of the greatest challenges you face can be convincing your clients that the need is real. John Hancock’s LTC Awareness Month series will provide you with the facts you need to show your clients that LTC Matters.
- Transamerica:
- A close-up of Transamerica’s star-studded LTC performers
Click here for marketing materials to get your clients interested and informed about Long Term Care insurance. Whether they need a general overview of LTCi or greater insight into Transamerica LTC policy benefits, there’s a sales tool that can help.
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DISABILITY & CRITICAL ILLNESS
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- Mutual/United of Omaha:
- You can sell more DI
Learn how here.
- New Beginnings
Check out the New Beginnings Cancer, Heart Attack and Stroke portfolio overview.
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MEDICARE SUPPLEMENTS
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- Mutual/United of Omaha:
- 36-second intermission
Take 5 during the 2014 Medicare Supplement Fall Surge. Watch this video.
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AGENT CONTESTS
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- AIG:
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AIG Better Ride Contest (8/1/2014 – 1/31/2015)
Now is your chance to rev it up, get in gear, and gain some traction! Producers will receive points based upon the sale of our permanent products, and additional points for selling AG Asset Protector on Secure Lifetime (AAS Rider & LIS Rider), and the AAS Rider on Elite Index II. For every 5 points a producer earns they will get a raffle ticket towards the drawing of a 2 year lease on a BMW 528i. Get complete details.
- American National:
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2015 Marketing Conference (qualification period 1/1/2014 – 12/31/2014)
You and your guest will enjoy five days and four nights at The Cove Atlantis, Paradise Island, Bahamas from May 17-21, 2015 if you are one of American National’s top 80 qualifiers. Click here for details.
- Athene:
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Top Producers Dublin 2015 (1/1/2014 – 12/31/2014)
Produce $3.5 Million or more (received during the qualification period of January 1, 2014 – December 31, 2014) with Aviva or Athene products and then get ready to pack your bags for Ireland. Click here for details.
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Take the Athene Benefit 10 Challenge (10/1/2014 – 12/31/2014)
Where will Athene Benefit 10 take you? Introducing an incentive with flexibility – the Athene Benefit 10 Challenge – where winners create their own custom travel experience! Learn how to qualify here.
- Lincoln National:
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Double Your Credit (7/1/2014 – 12/31/2014)
Help your clients prepare for the future and earn double PAP credit on all Lincoln MoneyGuard Solutions cases placed in force between July 1 and December 31, 2014. Click here for complete details.
- North American:
- Elite Agent Bonus Program (1/1/2014 – 12/31/2014)
- Transamerica:
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Break Away and Travel with Transamerica (4/1/2014 – 12/19/2014)
- Agents who place $25,000 of premium (minimum 3 TLIC life applications) will earn a 3-day vacation package valued up to $1,400 for yourself and a guest.
- Agents who place $75,000 of premium (minimum 5 TLIC life applications) will earn a 5-day vacation package valued up to $5,000 for yourself and up to 3 guests.
- Click here for complete details.
- Long Term Care production can help you win the above trip!
Now earning your Break Away is even easier. Long Term Care production is being included towards qualifying! View the Break Away travel site for complete details.
- Break Away and Hit the Links!
Transamerica is excited to announce new destination options for Break Away. By popular demand, singles golf outings are now available! That’s right, by qualifying for a three-day Break Away prize package, you could find yourself teeing off under the blue skies of Palm Springs, California or enjoying the sea breeze on Amelia Island, Florida. Sell more, go farther! By qualifying for the second level Break Away prize package you can take your pick from the world famous courses of Pebble Beach, Pinehurst, and six TPC courses including Sawgrass and Scottsdale! All golf packages are for one person. Challenge your friends to qualify for their own trip and meet you on the greens! Start planning your outing today! View the new golf packages here.
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Leading Distributors Convention in Barcelona (1/1/2014 – 12/31/2015)
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. View the producer flyer.
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