June 2019 Carrier Updates
Last Updated: June 19
American General
- New Flex Points Program for Underwriting. We’re constantly seeking ways to improve our underwriting so we can provide you with the most accurate and competitive rates available. Effective May 31, 2019, we will combine our competitive underwriting programs into a single crediting program that provides more opportunities to improve ratings for your clients while also enhancing the accuracy of our assessments.
Need help with any of American General's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Pacific Life
- Introducing: New Rates on PL Promise Term Life Insurance. On June 10, 2019, Pacific Life reinforced its commitment to serving the needs of the broad market consumer with affordable death benefit life insurance coverage by lowering rates for PL Promise Term. To maintain a solid customer experience, we are making the new pricing available to individual states on a rolling release schedule. The revised rates are currently available in the following states: AK, AR, DE, DC, GA, HI, IL, ME, MT, NC, ND, NE, NH, NM, OH, RI, SD, TN, TX, VA, VT, WV, and WY. Pacific Life will communicate when the new pricing is made available to additional states.
Need help with any of Pacific Life's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Principal
- Be your clients' hero. Offer a rate class upgrade. Now through Dec. 31, 2019, Principal® is offering a one-rate class improvement on single- or limited-pay (up to five years) sales of select universal and indexed universal life insurance policies. Here’s some quick bullet points to know about the program:
- Available for - UL Protector IV, SUL Protector II and IUL Flex II
- Internal Term conversions and 1035s are eligible
- 5 Pay scenarios or less – including 1035 only situations
- Ages 18-75 (backdating not available)
- Guarantees should run to age 90 or longer
- Can be used with Foreign Nationals and rated cases
- Can be combined with Healthy Lifestyle Credits, but NOT with Table Shave
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.
Symetra
- Pinney Insurance: Carrier Updates. With their complex policy features and crediting rates, IUL products can be difficult to explain. Hopefully, I can help simplify that story for you. Symetra calculates index credits based on the beginning value of the index segment to prevent index returns from being reduced by policy charges. Our new flyer highlights the effect this timing can have over the duration of the policy. Symetra’s IUL products are designed to provide both attractive performance features and straightforward crediting expense factors. Our guiding principles of Value, Transparency and Sustainability (VTS) are at the core of everything we do.
Need help with any of Symetra's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Transamerica
- Important update to final expense application submissions. On June 10, 2019, Pacific Life reinforced its commitment to serving the needs of the broad market consumer with affordable death benefit life insurance coverage by lowering rates for PL Promise Term. To maintain a solid customer experience, we are making the new pricing available to individual states on a rolling release schedule. The revised rates are currently available in the following states: AK, AR, DE, DC, GA, HI, IL, ME, MT, NC, ND, NE, NH, NM, OH, RI, SD, TN, TX, VA, VT, WV, and WY. Pacific Life will communicate when the new pricing is made available to additional states.Effective Monday, July 1, 2019, the Final Expense Accelerated DB/Terminal Illness Disclosure Form (Form No. ACC-DISC-LR) must be signed, dated, and submitted at the time of the final expense application submission. In the past, the form was signed on delivery. It is now required to be signed, dated, and submitted with the application. Please note that this form is not required in all states. The form may still be obtained on delivery for applications received on or before July 31, 2019, however applications received on or after 8/1/19 must include the form with the application submission.
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.
