Learn how to customize clients' term policies with competitive designs and riders.
New Survivorship IUL product provides affordable last survivor death benefits & more—Elite Survivor Index® II universal life insurance provides unique survivorship coverage for a variety of needs plus the opportunity to build cash value that can be accessed in the future.
Announcing the addition of Michelle Rollins and Rob Johnson as members of your new Regional team. Along with Mac Campbell, Michelle and Rob are here to help you grow your businesses in any way they can. Both Michelle and Rob bring many years of IMO, insurance company, and annuity experience to the table. As your Account Sales Support representative, Rob will be focused on Inbound Pre-sale work for you; activities like product questions, ordering material for your agents, and any illustration work you need. As your Business Development Wholesaler, Michelle will focus more on Outbound sales activity for your office. There are a ton of exciting value-add programs available to your agents (CARE Program, Top Producer Trips, other agent incentives, etc), and Michelle will make sure we are helping you get the word out to them. You can reach Rob and Michelle on their dedicated line at 1-888-ANNUITY, Option 3, then 18671.
June Communication Newsletter:
"Building Your Client's Plan" webinar on July 28 at 11am PST. Registration will take place in July.
SecureLiving Index Annuities Producer Video Series - hypothetical examples of client situations and how they utilize this product to achieve retirement goals.
Annual Premium Limitation Removed on ING IUL-GDB
Effective immediately, the 5x target annual premium limitation on ING IUL-GDB has been removed. The removal of this limitation opens the door to single pays, short pays, and 1035 exchanges that were previously unavailable. Click here to view the bulletin.
Review the new ING Fast Track online application submission system: June 4 at 12pm (PST) - this event has ended.
Correction to CCIII featuring Benefit Builder product materials in New York - The application booklet (LTC-8520 NY) and product brochure (LTC-8500 NY) are being updated to reflect the correct daily and monthly benefit amounts in both metro and non-metro areas. The PDF versions of both the application booklet and product brochure have been corrected and are currently available for download on www.jhltc.com. Print versions of both will be available this week.
The Long-Term Care (LTC) rider is a cost-effective way to plan for future long-term care needs. While not every
client will have the favorable health attributes to qualify for this rider, take a look at how John Hancock is
helping you place as many opportunities as possible.
All producers must take an eight-hour NAIC Partnership course effective July 1, 2014 in order to continue soliciting and selling LTC Insurance or LTC Insurance riders. If you have taken an eight-hour NAIC Course from another state, you can take a two-hour Massachusetts supplement course. To view the required eight-hour and two-hour courses go to www.jhpartnership.com.
Web Ads add visuals to linked marketing materials. Download graphics here.
Illustration Update for LifeStep UL Now Available—Illustration Manager Software v1.5 has been updated and is available for download from our website at LGAmerica.com. The rate change, which takes effect July 1, 2014, does not apply to New York. Third party vendors such as Compulife, iPipeline, VitalQuote and WinFlex have been provided the new rates. We expect all to have the new rates available now or shortly, but we suggest that you verify before quoting.
Pilot Program: Straight Talk About Term Premiums That Will No Longer Be Level—minimizing the shock of receiving a bill for a big premium increase when the level premium period is about to expire. On June 13, 2014, we began testing the results of a friendlier, more informative letter which explains the premium change and gives the policy owner options for continued coverage. Pilot includes policy owners:
of any OPTerm policies issued by Banner (primarily 10-year plans)
who currently pay annually
who have an active policy that will be reaching the end of the level premium period in the coming 75 days
"Life Step UL is our guaranteed premium universal life policy for conversions, distinguished because it offers guaranteed cash values and, in most jurisdictions, a white glove medical second opinion service from MediGuide America at no cost (even more valuable for this generally impaired population of policyholders). Sad to report, our mortality experience has been worse than we priced originally, and we need to put price increases in place, some of them significant. These rate changes do not apply to our flagship GUL product Life Choice UL, which is available for term conversions during their first five years. Life Choice remains most competitive for customers who are interested in lifetime guarantees and want to pay premiums over a longer period of time."
In order for Life Step UL policies to be eligible for the old rates, applications for term conversions and new sales must be received at Banner’s home office by close of business Monday, June 30, 2014. Applications for Life Step UL received Tuesday, July 1, 2014 and later will receive the new rates.
Formal applications for Life Step UL must be received at Banner’s home office by close of business on Monday, June 30, 2014 in order to receive the old rates. The new rates for Life Step UL will apply to all completed interviews and subsequent formal applications received Tuesday, July 1, 2014 and later. Life Step UL price changes will apply in all states except New York effective July 1, 2014.
Marketing materials (in any media form) independently developed by your agency must be approved by our legal department for regulatory compliance prior to their use. There are two versions of the approval request form, advertising and website. Compliance Guidelines for advertising can be found here; web guidelines can be found here. Marketing materials are intended for broker distribution only, not for consumers, unless specified.
Go Green: Log in and change preferences on Policy Print on the Web to YES. Access policy prints on the inforce navigation tab or by searching by the insured's name, policy number, broker or date.
Website updates: Intelligent spreadsheets for caps, product changes, and term conversions added. Genworth NY comp schedule updated and products removed from CRS.
Announces partnership with Liberty Life Assurance Company of Boston, a Liberty Mutual company. Liberty's best-selling product is the Estate Maximizer Next Generation, a single-premium whole life product features:
100% Return of principle guarantee
Available chronic and terminal illness features
Short form application with just five medical questions
Approval decision within 10 minutes of submission
Ideal fit for wealth transfer or charitable giving
Independent Producer website is www.lifecenter.minnesotalife.com.
BGA override states: GA, KY, MA, MS, MT, NM, ND, NY, PA, SD, UT, VA and WV
Pre-appointment state only: PA only
Announcing easier 1035 confirmation of health process—will no longer require that the 1035 confirmation of health be signed by the client prior to the case being issued. The 1035 confirmation and health confirmations can now both be signed at delivery putting the policy inforce at that time. We are making this enhancement as part of our commitment to a customer-focused new business experience that is accurate and timely. Minnesota Life and Securian Life is focused on you and your client's goals. Contact your new business representative or our Life Customer Contact Center with questions at 1-888-251-5390.
Changes to Indexed Universal Life Growth Caps—All active policies with premiums received and accumulation value allocated to the indexed accounts on or before the close of business on June 20, 2014 will be included in the June indexed account segments. All monies received after June 20, 2014 will be included in the July and later indexed account segments and receive the following growth caps:
Eclipse Indexed UL & Eclipse Survivor Indexed UL
S&P 500 - 140% Participation (Index Account B) = 7.5% new growth cap (decrease)
Blended Index (Index Account E) = 17% new growth cap (increase)
Euro STOXX 50 (Index Account F) = 14% new growth cap (decrease)
Eclipse Protector Indexed UL & Eclipse Survivor Pro Indexed UL
S&P 500 - 140% Participation (Index Account B) = 6% new growth cap (decrease)
Blended Index (Index Account E) = 14% new growth cap (increase)
Euro STOXX 50 (Index Account F) = 11% new growth cap (decrease)
Latest Carrier Info:
New Benefit Distribution Agreement (BDA) – available exclusively through Quick eApp on Advantage Elite Select policies – which guarantees an income stream for clients' beneficiaries. Term optimization, which includes:
Lower Express Issue minimum on 10- and 20-year plans.
Rate and policy fee changes for Band 2 on 5- and 10-year plans.
Carrier launched repriced version of term, decreases for 15-, 20-, 30-year term.
New InsMark – InsMark has a received a great refresh that can help agents highlight potential tax benefits of life insurance.Sales Concepts – Here’s a quick and easy link to our sales concept landing page. Please keep it in front of your agents to help with any opportunities they have. North American Sales Concepts
Networking for Clients – Use the attached piece to keep networking top of mind with your agents and ensure they’re diversified in their approach. This piece does a nice job of summarizing components of a networking plan
Write NAC RetireChoice Fixed Index Annuity business and earn rewards between May 19-July 31.
Between $250K-$499,999K = $300 gift card (Omaha Steaks or Maui Jim's)
$500K-$999,999K = $750 gift card (Apple or PGA Superstore)
More than $1M = $2,000 travel voucher or Cabela's gift card
Effective July 1, California has approved the DIA contract provision changes to pay the death benefit during the deferral period upon the death of the second joint owner on joint life contracts. Illustrations and forms: These changes are effective July 1 and will be based off of the illustration date, not the application signature date.
Illustrations dated prior to July 1 will receive the old contract
Illustrations dated July 1 or later will receive the contract with the new provisions
Due to these changes, a new Understanding Your Annuity (UYA) form will be required. The new UYA form is EE11430-1 and will be required for applications with an illustration date of July 1 or later:
Illustrations dated prior to July 1 will use the old UYA form
Illustrations dated July 1 or later will use the new UYA form
The new UYA will be available on e-App July 1, 2014. If the old UYA form is submitted with an illustration date of July 1 or later, it will be treated as “Not in Good Order” (NIGO).
Enhanced Cash Value Rider available for PruLife Founders Plus UL. Click here to read more.
Cash for Cases 5-5-5 Bonus Program—
For every 5 term or whole life policies with a premium of $500 or more received between June 21 - September 22, and paid for by October 24, earn a $500 bonus. Click here to download a shareable PDF to spread the word.
New attractive rates effective 7/1/2014—Effective July 1, 2014, SBLI will offer new competitive term life rates. The new rates enable us to maintain our commitment as a low-cost provider, placing us in the top three with primary competitors nine times out of ten (for sample face amounts of $100,000, $500,000, and $1,000,000). Our new rates are particularly strong for face amounts of $500,000 or over.
In addition, we have increased the number of premium bands from three to four. These are now Band 1: $100,000- $249,999; Band 2: $250,000-$499,999; Band 3: $500,000-$999,999; and Band 4: $1,000,000+.
Quoting will be available on SBLIAgent.com, iPipeline, Compulife, and VitalTerm on July 1, 2014. Click here.
Compensation: AMB 3945 & AMB 3946 - Notices of Compensation for JourneySM Variable Universal Life
Agency Managers' Bulletin 3945 and 3946 communicates compensation provisions for Transamerica Life Insurance Company (TLIC) and Transamerica Financial Life Insurance Company (TFLIC) JourneySM Variable Universal Life Insurance. To view the AMBs, go to "Sales Tools," then select the "Agency Managers' and Compliance Bulletins" link (under Resources) and check "View All."
AMB 3944 - Update on Third-Party and Starter Checks for Insurance Policies: Agency Managers' Bulletin 3944 provides you with updated policies regarding the acceptance of third-party checks and starter checks. These revised policies are effective immediately. Click here to view the AMB, or go to "Sales Tools," then select the "Agency Managers' and Compliance Bulletins" link (under Resources) and check "View All."
Reminder: Advertising by IMOs and FMOs - Kansas: Please review the Advertising by IMOs and FMOs Bulletin for Kansas. It serves as a reminder of the responsibilities for advertising produced and distributed by Third Party Marketing (TPM) entities.
Chronic Illness and Waiver Riders Discontinued in California - Due to recent regulation changes in the state of California, effective June 20, 2014, Transamerica will be discontinuing the Chronic Illness Rider and Waiver Riders in California. These regulation changes are impacting several carriers that offer these Riders. Please note that this will not impact any other states where these products are approved
for sale. CLICK HERE To View Bulletin
"Break Away" Promotion: Break Away is designed to reward you for doing business with Transamerica Brokerage by offering the opportunity to earn personal travel packages based on sales. Business submitted on or after April 1, 2014 and closed by December 19, 2014 will be counted toward an exciting vacation prize package. All you need to do is close three cases and generate at least $25,000 of paid premium to earn a three-day vacation package for yourself and a guest.
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