December 2021 Carrier Updates

December 2021 Carrier Updates

Last Updated: December 28

In addition to the carrier updates below, you may also be interested in:


AIG

  • Select-a-Term has what it takes. Looking for the best Term Life insurance for your clients? We’ve got you covered. NEW, LOWER monthly modal factor is among the top term products in the market today. See examples where Select-a-Term shines*:
    • Male, 30, Preferred Non Tobacco, $1M,
    • 20-year duration – $42.03 / month
    • Female, 40, Preferred Non Tobacco, $500K,
    • 30-year duration – $46.56 / month
    • Male, 30, Standard Non Tobacco, $1M,
    • 15-year duration – $53.25 / month
    • Female, 55, Standard Non Tobacco, $500K,
    • 30-year duration– $149.64 / month
  • Something exciting is here for Agile Underwriting+. The following changes to our Agile Underwriting+ (AU+) program are effective December 4, 2021. These enhancements will help you reach more clients, giving them fast decisions and faster coverage to help secure their financial future.
    • More quick sales! AU+ brings fast decisions for ages 59 and under (increased from age 50)
    • Double the coverage! We’re increasing the face amount up to $2 million (previously $1 million)
    • Flexible options! For up to $1 million death benefit, you can choose between vendor tele-interview or complete the Part B on your end for cases submitted through iGO full eApp
    • Attractive IULs! AU+ continues to speed up Max Accumulator+ II and Value+ Protector II cases

Need help with any of AIG's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

American National

  • Xpress Underwriting Changes Effective December 1. American National has made improvements to its popular Xpress accelerated underwriting program that applies to all life insurance applications for ages 0–65 and face amounts $100,000 to $249,999.
    • Prior to December 1, the need for a medical exam was determined based on the answers to the application, MIB, prescription history report, and the Risk Classifier.
    • Effective December 1, the Risk Classifier is no longer part of the determination on whether a medical exam is needed. The need for a medical exam will now be based on the answers to the application, MIB, and prescription history report.
    • Effective December 1, the Risk Classifier is now incorporated into the determination of the rate class.

Need help with any of American National's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Equitable

Need help with any of Equitable's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Genworth

  • In-Force Rate Action: Utah. Regarding My Future, My Plan, Utah has allowed the following increases: My Future, My Plan 1.0, 2.0, and AARP Group - 59.5%. Agent notifications begin December 14, 2021. Client notifications begin December 21, 2021.
  • In-Force Rate Action: Arkansas. Regarding PCS I, Arkansas has allowed the following increases. Increase for policies with limited benefit periods: 0%. Increase for policies with lifetime benefit periods: 25%. Client notifications begin December 7, 2021. Agent notifications begin December 14, 2021.
  • In-Force Rate Action: Rhode Island. Regarding Privileged Choice and Classic Select with Flexible Benefit Option & 1% Benefit Increase Option, Rhode Island has allowed the following increases. Privileged Choice: 95.3% phased (25%, 25%, 25% compounded). Classic Select: 95.3% phased (25%, 25%, 25% compounded). This increase applies to both non-AARP and AARP policies. Agent notifications begin December 7, 2021. Client notifications begin December 14, 2021.
  • In-Force Rate Action: Rhode Island. Regarding PCS I, Rhode Island has allowed the following increases. Increase for policies with limited benefit periods: 16%. Increase for policies with lifetime benefit periods: 23%. Agent notifications begin December 7, 2021. Client notifications begin December 14, 2021.
  • In-Force Rate Action: Kansas. Regarding Privileged Choice and Classic Select with 1% Benefit Increase Option, Kansas has allowed the following increase: 53%. This increase applies to both non-AARP and AARP policies. Agent notifications begin November 30, 2021. Client notifications begin December 7, 2021.
  • In-Force Rate Action: Kansas. Regarding Privileged Choice Flex, Kansas has allowed the following increase: 13.4%. Agent notifications begin November 30, 2021. Client notifications begin December 7, 2021.
  • In-Force Rate Action: Kansas. Regarding My Future, My Plan, Kansas has allowed the following increases: My Future, My Plan 1.0, 2.0, and AARP Group - 26.1%. Agent notifications begin November 30, 2021. Client notifications begin December 7, 2021.
  • In-Force Rate Action: Kansas. Regarding Pre-PCS, PCS I, PCS II & Choice 1, Kansas has allowed the following increases. Increase for policies with limited benefit periods: Pre-PCS: 0%. PCS I: 15.3%. PCS II: 31.5%. Choice 1: 47.3%. Increase for policies with lifetime benefit periods: Pre-PCS: 3.6%. PCS I: 15.3%. PCS II: 31.5%. Choice 1: 47.3%. Agent notifications begin November 30, 2021. Client notifications begin December 7, 2021.

Need help with any of Genworth's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

John Hancock

  • 2022 Dividend Rate Change. Effective January 1, 2022, the dividend will change on certain participating traditional single-life and survivorship policies originally issued through the John Hancock Life Insurance Company (JHLICO) and John Hancock Variable Life Insurance Company (JHVLICO).
  • 2022 IUL Segment Lock-In Dates. For handy reference on your John Hancock indexed UL policies, refer to this calendar for dates that payments must be received (the lock-in dates) in order to be included in the next segment.
  • Flex Complete Process Now Available in California. You can now submit business via the iPipeline iGO flex complete process in California. If you have not yet used this streamlined submission method, here are a few key reasons to give it a try:
    • A digital Part II with no telephone interview required.
    • The flexibility to electronically share key application sections with your clients, giving them the option to complete on their own schedule.
    • Potential for accelerated underwriting via John Hancock ExpressTrack.

Need help with any of John Hancock's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Legal & General (Banner)

  • Now Available: Option to Reopen Your Closed Applications. Legal & General has added a new option to reopen closed applications within their Partner Dashboard: *Revise, amend, and resubmit eligible applications that were previously closed *No limit for multiple reopens *Ongoing status communications for advisors and clients — email and SMS
  • More Reductions to OPTerm Rates, Especially in the Non-Tobacco Classes. Effective November 24, Legal & General has reduced rates, especially in the non-tobacco classes. Check out their updated term webpage to find product specifications, marketing materials and more. You can also download their Administrative Guidelines.

Need help with any of Legal & General's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Lincoln

  • Lincoln VUL Dollar Cost Averaging Fixed Account Enhanced Interest Rate Program. Lincoln is pleased to extend the VUL Dollar Cost Averaging Fixed Account Enhanced Interest Rate Program through Jun. 30, 2022. This program includes an enhanced current interest rate to help with short-term returns while the client transfers funds into variable investment options using a 12-month Dollar Cost Averaging (DCA) program.

Need help with any of Lincoln's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Mass Mutual

  • MassMutual’s CareChoice Products and Whole Life with LTCAccess Rider Applications Resume in Washington State. Applications for CareChoice One, CareChoice Select, and whole life with LTCAccess Rider are allowed in Washington state effective November 20, the first day applications can be submitted for MassMutual’s new 2021 whole life product series. Only applications for the new whole life products will be accepted, subject to the following:
    • Normal backdating rules will apply (i.e., backdating is only available to save age, cannot backdate to old series product).
    • Applications submitted November 20, 2021 and later in Washington do not qualify for the tax exemption under the Washington Long-Term Care Trust Act. Coverage had to be purchased before November 1, 2021 to qualify for the exemption.

Need help with any of Mass Mutual's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Mutual of Omaha

Need help with any of Mutual of Omaha's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Nationwide

  • Latest WA Cares Update. Thank you for your continued patience as we continue to process the enormous influx of life applications due to the WA Cares Fund. We are making progress and will continue to do all we can to process Washington state applications as quickly as possible. This has included increasing personnel and working overtime. Click the link above for an update; we’ve included some things you can do to help us move your applications along faster.

Need help with any of Nationwide's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

OneAmerica

  • Update on year-end processing for Care Solutions applications, including Washington state business. We understand the impact that continued processing delays have on your business and in serving the needs of your clients. Our goal is to be transparent in our approach to addressing these challenges and set clear expectations about the experience you and your clients will have in the coming months. All submitted business is important to us. As we prioritize applications to most efficiently work through them, our New Business and Underwriting teams are currently focused on processing applications received prior to the pricing changes on our Asset Care product line that were announced on Aug. 25. Our focus will then shift to applications received for our new, repriced Asset Care products. These cases will be processed in the order in which they were received.
  • OneAmerica 2021 Year-End Deadlines. Non-underwritten annuity new business: The Home Office must receive all pending, non-underwritten annuity new business applications and all outstanding requirements by the end of business on Friday, Dec. 17. Life policies and underwritten annuities for all companies:
    • Underwriting must approve the case.
    • The Home Office must receive by end of business on Friday, Dec. 17, all delivery requirements, fully completed, including but not limited to: o Initial premium o Certificates of Insurability o Bank draft authorization o 1035/Transfer funds received
    • Any pending cases with a request for reissue or plan change must be received in the Home Office by end of business on Wednesday, Dec. 15, to ensure processing time for both Underwriting and New Business.
  • Care Solutions State Licensing Guide. Access OneAmerica's Care Solutions state licensing guide quickly and easily.

Need help with any of OneAmerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Principal

  • Non-Redacted Application Removed from Drop Ticket Emails. For all applications that start as a Drop Ticket, Principal will send a copy of the fully eSigned application to the Field Contact listed for that case. To protect private customer information, starting this month they will stop sending the full Part A via email and the application packet will only include the redacted copy (some fields showing ‘x’, like SSN and driver’s license number).

Need help with any of Principal's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Protective

  • Products Approved in CA on Dec 13. The state of CA has approved our products with their 7702/7702A changes. The updated products will be available to issue on 12/13/21. Some key details to keep in mind are below: The approvals cover Custom Choice UL (no price change), Lifetime Assurance UL (no price change), Advantage Choice UL (price increase and issue age changes), ProClassic II UL (no price change). Advantage Choice UL issue ages are lower in CA.
  • Underwriting Team Now Uses LabPiQture to Manage Risk More Effectively. Protective’s underwriting team is now utilizing the LabPiQture data product from ExamOne to help expedite risk assessment.
  • 7702/7702A Product Updates Coming Soon in California. Review the summary of Protective's products that are approved in California as of December 13 and the associated changes.

Need help with any of Protective's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Prudential

  • 2022 Policyholder Dividend Scales. The Board of Directors of Prudential Insurance has approved payment of approximately $1.3 billion in dividends in 2022 for participating individual life insurance policies and annuity contracts in Prudential’s Closed Block. This decision represents a continuation of the 2021 dividend scales for 2022.
  • An Exciting Option Will Be Added for SVUL Protector 2021 and Expanded for VUL Protector 2021: The Premium Deposit Account (PDA). Beginning on December 13, you can give clients one more option for paying premiums on VUL Protector and SVUL Protector, by using a Premium Deposit Account (PDA).
  • Multi-Factor Authentication Coming Soon for PruXpress. Prudential will be migrating the PruXpress platform to require multi-factor authentication (MFA) at login on December 10, 2021. No action is required for users who are registered with an email address that is only associated with that user ID. For users registered under an email address tied to multiple user IDs, Prudential recommends updating your contact email by reaching out to the customer care number at 866-599-2871. This will create a one-to-one alignment between user IDs and email addresses and will ensure a user can seamlessly receive their MFA codes when logging in.
  • New: Service Guide for Medical Records and APS Handling. When does Prudential order medical records? This new guide provides information regarding the two processes that can be utilized to gather the client’s medical information when the underwriter has determined the client’s medical records are needed.

Need help with any of Prudential's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

SBLI

  • Transition Guidelines for SBLI Whole Life Product Updates. Effective December 15, 2021, SBLI's Whole Life product portfolio will be updated to comply with the Consolidated Appropriations Act of 2021. To help make this transition as smooth as possible, they have provided a product update with the information you need to know — including the products that have been impacted, transition rules, and contacts for further information.

Need help with any of SBLI's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Securian

  • COVID guidelines extended. In 2020, Securian Financial began implementing participation limits in response to COVID-19. We've actively reviewed and updated these participation guidelines as we continued to monitor COVID-19's impact. The changes we implemented July 1, 2021 will now be extended through March 31, 2022.
  • New! eValuate Underwriting Quote Process. Securian has been working with Paperless Solutions Group to offer you and your clients access to eValuate, a quoting tool that provides underwriting quotes in minutes. When eValuate launches in early 2022 it will provide: *Fast underwriting quotes for a variety of impairments. *Dynamic quoting – as you enter more information, the quote updates automatically. *The ability to see multiple carriers’ quotes by quote class. Please note, eValuate is not available for SecureCare Universal Life quotes.
  • Securian 2021 Year-End Deadlines. Key dates and deadlines for processing 2021 year-end business.

Need help with any of Securian's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Security Mutual Life

Need help with any of Security Mutual Life's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Transamerica

  • Important Updates to Lifetime Whole Life. Transamerica is excited to announce the Transamerica Lifetime Whole Life product will increase the maximum conversion face amount from $2,000,000 to $9,999,999, beginning December 11, 2021.
  • COVID-19 Payment Grace Periods End. Moving forward, Transamerica will no longer offer the extended grace periods or payment plan options that were available to help with the impacts of COVID-19.

Need help with any of Transamerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


Need help navigating the ever-increasing selection of products from these carriers? Learn how partnering with us can help you earn more, better serve your clients, and sell more life insurance online.

Work with Pinney

Enjoying Our Blog?

If so, please leave us a Google rating or review! It really helps others discover us and our content online.

Leave a Review