October 31, 2012
Important note from Transamerica:
Please be advised that shipping and mail services were suspended on Monday due to hurricane Sandy. The suspension may cause delays for several days.
In addition, the Stock Market was closed Monday and Tuesday. Any indexed UL financial transactions, including policy issue, will be delayed.
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IMPORTANT INFORMATION REGARDING ACTUARIAL GUIDELINE 38 (AG38)
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The adoption of AG38 will cause Guaranteed Death Benefit UL prices to rise. It is reasonable to expect that some carriers will discontinue offering them.
We are already seeing product changes from our carriers, and will communicate this information to you via the news section found ont he homepage of the TMA website.
View the Producers Guide to AG38 from the National Association of Insurance Commissioners.
FIRE SALE- SALES OPPORTUNITY!!!
- American General:
- Click here to view the first in a series of communications regarding AG 38 and the impact on American General.
- Aviva:
- Aviva announces NLG product changes to comply with new regulatory guidelines. Click hereto view bulletin.
- Regulatory uncertainty causes Aviva to make changes to New York life portfolio. Click hereto view bulletin.
- Click here to view Aviva’s re-launching NLG products.
- ING:
- Legal & General:
- North American:
- Protective Life:
- United of Omaha:
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UPCOMING WEBINARS & TELECONFERENCES
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- Life insurance is sold, not bought. But for how long?
Technological, cultural and regulatory changes are forcing the life insurance sector to re-evaluate its fundamental belief that insurance is sold and not bought.
- Genworth: Life Insurance Products Designed To Shift Portfolio Mix, Adjust For Low Interest Rates
- American General:
- American National:
- Genworth:
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Important product changes
REMINDER – Effective October 22nd, the new traditional term product – Colony Term 10, 15 and 20 – launched to replace Colony Term UL, except in New York.
On November 12th, GenGuard UL will be expanded and repriced. By combining the features of Colony LifeLong UL and GenGuard UL into one product, the new GenGuard UL is a more comprehensive solution offering up to lifetime benefit coverage (to age 121) for single, short and level-pay planned premiums.
On December 7th, GenGuard UL will serve as the new conversion product, replacing Lifetime Protector SG II in all states except in NY, where Lifetime Protector SG NY II continues as the conversion solution.
In addition,
REMINDER – Colony Term UL NY was removed from the market on October 22 nd
GenGuard SUL, GenGuard SUL NY and GenGuard UL NY will be removed from the market on November 12th.
View the key dates and transition rules and frequently asked questions and answers regarding these changes.
- ING:
- MetLife:
- North American:
- Transamerica:
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REMINDER – New IUL form requirement – effective November 1st
All Freedom Index Universal Life II and Freedom Global IUL II applications received in the Home Office on or after November 1 st will require a signed Index UL Policy Certification prior to issue.
- United of Omaha:
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- The fear factor in financial planning
Market turbulence has pushed consumers to guaranteed products like annuities.
- DIAs: The income later option
As boomers near retirement, demand for deferred income annuities is set to grow.
- ING:
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Video training presentations
Learn about solutions that will drive sales within your business at your convenience.
Interest Rate Benchmark (4 minutes, 2 seconds)
Worried about rising interest rates? The Interest Rate Benchmark Strategy was designed to capture the upside potential of a rising interest rate environment. This optional benefit is available with ING fixed index annuities.
Performance Trigger Strategy (5 minutes, 10 seconds)
Diversify while you simplify. Fixed indexed annuities just got a whole lot easier with the Performance Trigger Strategy.
IncomeProtector Withdrawal Benefit Rider (7 minutes, 22 seconds)
You insure your house, your car, your life, and even your flat screen television. Now you can insure your retirement income through an annuity with a lifetime withdrawal benefit.
Refund of Rider Charges with IncomeProtector Withdrawal Benefit Rider (5 minutes, 38 seconds)
Learn why ING Annuity & Asset Sales is ahead of the competition with the Refund of Rider Charges feature included on the IncomeProtector Withdrawal Benefit Rider.
Intro to ING Annuities – New Producer Webinar (12 minutes, 34 seconds)
Learn how partnering with ING Annuities & Asset Sales gives you an advantage and separates you from the competition.
- Trigger Strategy approved in AR
For use with the Secure Index Five Annuity and Secure Index Opportunities Plus Annuity effective October 22nd.
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- Genworth:
- John Hancock:
- New state approvals for Custom Care III featuring Benefit Builder
Custom Care III featuring Benefit Builder will be available in 7 additional states on November 5th – Arkansas, Arizona, Montana, North Dakota, New Jersey, Nevada, and South Dakota.
- Transamerica:
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Multi-Life Agent Training Online training is an easy way to help you learn about Transamerica LTC products and programs. It can also be a good refresher if you are a seasoned agent. The following online training presentations are available:
Completing an SGR: This presentation provides step by step instructions on how to complete a Service Group Request form for worksite and association approval.
Creating a Quote with a Census: This presentation provides step by step instructions on how to use the TransQuote software to quote a multi-life group when a census is provided.
Developing an Employee Communication Plan: This presentation provides step by step information on how to develop a marketing plan for a worksite enrollment, including how materials can be personalized, and how to enlist enrollment support.
- IRS increases LTCi tax deduction limits
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| DISABILITY & CRITICAL ILLNESS |
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- American General: 2013 Passport to Paradise in Bermuda (November 15, 2011 – February 14, 2013)
ALL Universal Life sales count DOUBLE toward conference qualification!
- American National:
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eApp iPad Contest (September 1 – December 31, 2012)
Receive a Free iPad when you submit 6 paid life policies through iGO e-App.
- 2013 Marketing Conference (January 1 – December 31, 2012)
The top 80 licensed representatives of American National who qualify in accordance with the official requirements are eligible for an invitation to attend the 2013 Marketing Conference in Palmilla, Los Cabos, Mexico May 19 – 23, 2013.
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