October 2, 2013
Premium Limitations Guidelines – updated information for American General’s Secure Lifetime GUL II with NO cap restrictions to provide more flexibility with case design (1035 and other shorter-pay scenarios).
Core Carrier Competitive Advantages – updated information for American General, Prudential, Transamerica & SBLI.
Carrier Underwriting Guides:
Addition of information regarding Underwriting Members of the Military for Prudential.
Additions to MetLife & MetLife Individual Disability Income regarding prescription marijuana.
Life Carrier Ratings – updated effective 9-27-13.
Whole life – A new asset class to allocate?
Thanks to new product developments, whole life isn’t just about the death benefit these days.
Convert that term … before retirement
Converting a term life policy into a permanent one can ensure an affordable premium for pre-retirees.
Give prospects a 15-minute warning
Cap the time spent on appointments.
Will boomers ever retire?
Working more and saving less, many baby boomers aren’t necessarily living the “golden years.”
Survey says: referrals!
The surest way to top-advisor status is referrals.
A guide to convert referrals to clients
Those referrals won’t mean a thing if you can’t convert.
How to speed up the underwriting process – and place more cases
Being a good field underwriter can minimize processing delays and prepare your clients for realistic outcomes.
Boosting your term life sales with predilective marketing
This new approach can help agents spend time, energy and money on clients who will actually buy.
Myth: Older Americans don’t buy life insurance
We can infer a number of things from pieces of data, but we can’t answer everything. What we do know by virtue of this data is that older Americans buy permanent life insurance (universal life at least) just as much as younger (pre-retiree) Americans. There is a much higher expense related to this purchase, but despite that higher price they still do it.
5 things to know about the Hispanic market
By 2030, the Hispanic market could tally a whopping 79 million people. Here are five points to direct your sales pitch.
How to prospect to multicultural markets
Is the insurance industry reaching multicultural markets?
Just 3 percent of producers say the industry deserves an A grade
Multicultural markets: One size does not fit all
If you’re looking to make inroads in multicultural markets, you must learn the nuances within each niche.
How to solve our financial literacy crisis
There is an urgent need for greater financial literacy throughout America, but especially within the African American market. Here are the reasons why.
5 things to know about the African American market
Protecting family is top of mind for African American clients.
5 challenges of selling to multicultural markets
You, the educator – part 2
Be “that guy” who helps watch the clients’ backs.
Getting Baby Boomers to Talk About Death
Would you do business with you?
It’s a tough question to answer truthfully, but it could make you a better salesperson.
TOMORROW,October 3rd – Secure Survivor GUL II
No caps, large lump sum and 1035, and illustrating ROP feature
October 9th – Accident Choice Plus
Product overview and updates.
October 17th – Secure Lifetime GUL II
No caps, large lump sum and 1035, and illustrating ROP feature. Product Overview and Updates
October 23rd – NEW Index Annuities: Power Index Plus & Choice Index 10
Product differences and similarities, Innovative Income Rider.
October 31st – Secure Lifetime GUL II with LIS Illustration
Lifestyle Income Solution details, illustrating the LIS and sales concepts
November 6th – Critical Care Plus
Product overview and updates.
November 7th – Understanding IUL
IUL value proposition, IUL how does it work and interest crediting options
November 20th – Overview on Immediate & Delayed Income Annuities
SPIA & DIA, Platinum Income and Future Income Achiever, How it works, Sales Concepts.
November 21st – Elite Global Plus II
Target Market, Index Strategies and Sales Concepts
October 10th – Executive Bonus Designs
Weekly 15-minute sales strategy calls – every Wednesday at 10am CT
Teleconference Number: 800-910-2399 Pass Code: 224032
TODAY, October 2nd – Inflation Agreement Vs. Guaranteed Insurability Option Agreement
TOMORROW, October 3rd – Expand Your Market with Multicultural Opportunities Webinar
CARRIER & INDUSTRY NEWS
Tangled up in Pru
The disagreement among the FSOC council following Prudential’s designation will make the next SIFI deliberation robust and vigorous.
Alaska license changes
Federal tax treatment of same sex marriages
Global Atlantic announces acquisition of Forethought Financial Group
New Federal Privacy and Security Regulations for HIPAA covered products
The DOL releases guidance on same-sex marriage and employee benefit plans
Legal & General:
Top 10 reasons Legal & General changed their identity – video
You might think of them as Banner. Or maybe William Penn. Today their companies share an identity under one umbrella, Legal & General America.
HIPAA regulations lead to changes in new agent contracts
LIFE INSURANCE NEWS
Secure Lifetime GUL II – the caps are off
No premium cap restrictions in order to provide more flexibility with case design (1035 and other shorter-pay scenarios). Also, learn more about Lifestyle Income Solution.
IUL Strategy Selector – NEW!
IUL-Guranteed Death Benefit – producer guide
Get guaranteed protection up to a lifetime with cash value accumulation potential. Also view the Buyer’s Guide and the Facts-at-a-Glance.
Change in ownership during underwriting – requirements
IUL-Protector now available in CA & PR
No better time to sell Executive Benefits
Three recent developments make this a good time to talk to business owners about life insurance-funded executive benefits for their key employees.
Legal & General:
Do your customers ask you to get them the best price? – consumer brochure
Most people believe that the simplicity of term life insurance makes it an ideal product for pure price comparisons. Use this consumer-approved brochure to show how Legal & General America gets your customers more than just affordable rates. And don’t forget, they offer a free MediGuide Medical Second Opinion benefit that might just save your client’s life. MediGuide is available in all states except MT, WA and NY.
New marketing materials – consumer approved
GA Weekly Update
Clarification on updates to Guaranteed Level Term – IMPORTANT
Convertible and Renewable Options Rider no longer available in TX
Enhanced Care Benefit added to the Promise Whole Life Portfolio – reminder
Help clients determine the need for life insurance and finish the year strong
One Year Term – protecting a college funding plan – sales idea
Some of your clients may have gotten a late start on investing in college savings plans; and, with the increasing cost of college tuition, may need to start aggressively saving just a few years before college. But what if the primary breadwinner of the family were to die before the college funding was complete? What if the spouse was unable to continue funding the plan or pay for the tuition out of pocket. This can present an additional life insurance need. One Year Term with the Convertible and Renewable Options rider can offer five years of coverage at an affordable premium.
New index crediting bonus
Guarantee Builder – video
The new Guarantee Builder has a new, lower premium that helps give it an edge over the competition. Plus, its potential for cash value accumulation leaves competitors in the dust.
Setting a new “Standard”
New lower rates for Symetra’s Standard Non-Nicotine rate class on Classic Universal Life Insurance with Lapse Protection Benefit.
Final Expense products now available in VA
TransACE LTC Rider producer contracting forms – revised
If Independent Producers plan to sell the LTC Rider on TransACE, they will need to sign the updated Amendment to all Agreements Contracts HIPAA BAA form. If Solicitors plan to sell the LTC Rider on TransACE, they will need to sign the updated Producer’s Conditional Agreement form. The applicable form should be submitted to email@example.com or faxed to (888) 837-2820 prior to soliciting business. For additional information on the LTC Rider, please see the updated Guide to Doing Business.
United of Omaha:
Game On with Term Life Answers! – presentation
Guaranteed Advantage – Your client is a Professional Rock-climber? No Problem!
It’s no accident that our Guaranteed ADvantage Accidental Death helps round-out our already impressive portfolio. There’s a place for it. It can help you out when: a case is postponed or declined, a client participates in potentially hazardous avocations or hobbies, or travels to potentially dangerous locations.
Fear vs. logic
Buying an annuity has more to do with fear than superior returns.
Annuities: focusing on the big picture
Clients are interested in the big picture of what we can offer them. But what do we often do when they come to our office? We drag them away from the compelling big picture dream of retirement that they came in with and into the arcane details and nuances of annuities that so fascinate us. In the process, we end up boring them to tears.
Avoiding the ‘Black Hole” of retirement
Is there a vehicle that can help your clients bypass the financial chaos that can derail their golden years? Yes, it’s a fixed indexed annuity.
8.8% on Fixed Annuity – Palladium Century 7
2.30% Single Premium Fixed Deferred Annuity – Citadel Five Diamond
3.30% Flexible Premium Fixed Deferred Annuity – Citadel Seven Diamond
NAIC Suitability Model Regulation Requirements of Producers
SecureLiving Index Annuity illustrations enhanced to include TCO illustration
New suitability requirements for FL
SecureLiving Index 10 Plus commission schedule change
LONG TERM CARE
Closing in on better LTCI close rates
For Mary Ann DeKing, “the close” starts when the conversation begins.
November is LTC Awareness Month – start reaching out now!
In-Force Rate Action implementations for: GA and Additional Alabama Group Trust State: Georgia
2010 in-force rate action notifications for late October
New Custom Care III policyholder statements
Benefit Builder portfolio rate of return
New “Quick Quote” service to handle pre-qualification underwriting inquiries
John Hancock understands that from time to time you need to obtain an initial underwriting assessment of clients. To meet this need, they are introducing a new and improved service to respond to your pre-qualification underwriting inquiries — LTC Quick Quote. Start submitting your Quick Quote inquiries today to LTCquickquote@jhancock.com.
Please note: With the introduction of the new Quick Quote service, the LTC prequalification phone and fax lines have been discontinued.
United/Mutual of Omaha:
MutualCare Solutions – FAQ
MutualCare Solutions gains Partnership approval in IA, LA, NH & SC
United/Mutual of Omaha:
DI underwriting example
TMA EXCLUSIVE CONTESTS
TMA and Genworth:
Fixed Index Annuity Sales Contest! (June 1 – October 31, 2013)
Click here for details.
Legal & General:
Are you ready for some football?
Legal & General America has a limited number of Redskins and Ravens home game tickets for the 2013 season. If you’ll be in the Baltimore or Washington DC area this football season, we’d like to take you out to a game! Tickets reserved on a first-come, first-served basis. Make your requests via email firstname.lastname@example.org.
Click here to see the available Redskins tickets.
Click here to see the available Ravens tickets.
Win a trip to the Big Game! (June 1 – December 31, 2013)
Be among the top five producers of issue/paid Symetra Classic Universal Life Insurance from June 1 through December 31, 2013, and you could join Symetra in the Big Apple for the Professional Football Championship Game on Feb. 2, 2014!
Annuity Cash is King (June 1 – November 30, 2013)
Receive a cash bonus for Strategy Indexed Annuity (ASIA) PLUS sales.
Flex-Pay MoneyGuard Incentive Programs (May 1 – December 31, 2013)
Earn an extra 20 points on paid first year target premium AND double PAP credit on all Flex-Pay MoneyGuard cases placed between May 1st and December 31st. Learn more about this and the Double Your Credit incentive.
The Great Escape (August 1 – October 31, 2013)
Write IncomeChoice Fixed Index Annuity business with North American and earn travel rewards! The more IncomeChoice Fixed Index Annuity business you write, the farther you can go! Receive a travel reward along with concierge travel services.
iGo for an iPad Sales Contest (October 1 – December 31, 2013)
SBLI will award an iPad to agents and case managers who meet specific criteria by using iGO eApp.
Bonus Program (EXTENDED to December 31, 2013)
Transamerica is offering this limited-time incentive bonus program on TransACE and TransACE Survivor life insurance policies.
2013 Finish Strong Multi-Life Sales Contest (September 1 – December 15, 2013)
Heat things up this fall with this special Executive Advantage Program sales contest. It focuses exclusively on Employer Pay All (EPA) sales. You will receive entries just by submitting your EPA cases through the Executive Advantage Program. You can receive entries based on cases and applications generated. There will be a new prize and winner every month and a grand prize at the end. You can win multiple times!
TransCare III Sales Contest (October 1 – December 20, 2013)
Transamerica LTC would like to help your agents kick off their sales of TransCare III (TCIII) with their largest, most exciting sales contest ever! But this contest is a little different. Prize Levels do not depend on how much an individual agent sells, they depend on how much EVERY agent sells – combined!
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