November 2021 Carrier Updates

November 2021 Carrier Updates

Last Updated: November 18

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


AIG

  • Enhanced Client Profile Form for Annuities. AIG has enhanced the Client Profile Form to improve efficiency in obtaining information and reduce the number of Not In Good Order (NIGO) items. The updated Client Profile Form is scheduled to launch on Monday, November 8, 2021, on all form repositories.
  • New AIG Lockbox Requirement for IMO/BGA Annuity Premiums. Effective November 30, 2021, AIG's lockbox provider JPM Chase Bank, will no longer accept U.S. Post Office mail or courier packages (UPS, FedEx, etc.) that are missing a lockbox number from the address label. Going forward, if a lockbox number is missing, the package will be returned to the sender.

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

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: Maryland. Regarding My Future, My Plan, Connecticut has allowed the following increase: 15%. Agent notifications begin November 16, 2021. Client notifications begin November 23, 2021.
  • In-Force Rate Action: Georgia. Regarding Privileged Choice Flex, Georgia has allowed the following increase: 9.9%. This rate increase does not apply to Standard policies with a 20% Couples Discount, where both insureds were approved for and issued coverage, and a 10% Couples Discount, where only one insured was approved for and issued coverage. Agent notifications begin November 16, 2021. Client notifications begin November 23, 2021.
  • In-Force Rate Action: Connecticut. Regarding Choice 1 with Lifetime Stable Premium Option, Connecticut has allowed the following increases. Increase for policies with limited benefit periods: 10%. Increase for policies with lifetime benefit periods: 15%. This rate increase applies to Partnership and non-Partnership policies. Agent notifications begin November 16, 2021. Client notifications begin November 23, 2021.
  • In-Force Rate Action: North Dakota. Regarding Pre-PCS, PCS and PCS II & Choice 1 with Lifetime Stable Premium Option, North Dakota has allowed the following increases. Increase for policies with limited benefit periods: Pre-PCS: 33.9% phased (15.7%, 15.7% compounded). PCS I: 16.3%. PCS II: 17.3%. Choice 1: 45.9% phased (20.8%, 20.8% compounded). Increase for policies with lifetime benefit periods: Pre-PCS: 33.9% phased (15.7%, 15.7% compounded). PCS I: 16.3%. PCS II: 17.3%. Choice 1: 45.9% phased (20.8%, 20.8% compounded). Agent notifications begin November 9, 2021. Client notifications begin November 16, 2021.
  • In-Force Rate Action: North Carolina. Regarding Privileged Choice and Classic Select with Stable Premium Option and 1% Benefit Increase Option, North Carolina has allowed the following increase: 25%. This increase applies to both non-AARP and AARP policies. Agent notifications begin November 9, 2021. Client notifications begin November 16, 2021.
  • In-Force Rate Action: Alaska. Regarding Privileged Choice and Classic Select with Stable Premium Option, Flexible Benefit Option and 1% Benefit Increase Option, Alaska has allowed the following increase: 15.3%. Agent notifications begin November 9, 2021. Client notifications begin November 16, 2021.
  • Now Available – Long Term Care Insurance Agent Change Submissions on Genworth PRO. You can now submit Long Term Care Insurance (LTCi) agent changes on Genworth PRO for any policy that is currently with your agency, where your agency needs to assign the policy to a different agent in your downline.
  • In-Force Rate Action: Ohio. Regarding Choice 1, Ohio has allowed the following increases. Increase for policies with limited benefit periods: 15%. Increase for policies with lifetime benefit periods: 15%. Agent notifications begin November 2, 2021. Client notifications begin November 9, 2021.
  • In-Force Rate Action: Ohio. Regarding Privileged Choice and Classic Select with 1% Benefit Increase Option, Ohio has allowed the following increase: 15%. This increase applies to both non-AARP and AARP policies. Agent notifications begin November 2, 2021. Client notifications begin November 9, 2021.
  • In-Force Rate Action: Tennessee. Regarding Privileged Choice and Classic Select with Stable Premium Option and 1% Benefit Increase Option, Tennessee has allowed the following increase: 32%. Agent notifications begin November 2, 2021. Client notifications begin November 9, 2021.
  • In-Force Rate Action: Texas. Regarding Privileged Choice Flex, Texas has allowed the following increases. Increase for policies with limited benefit periods: Privileged Choice Flex policies with Benefit Increase Option (BIO) - 36.9% phased (17%, 17% compounded). Privileged Choice Flex policies with no Benefit Increase Option (BIO) - 18.1%. Increase for policies with lifetime benefit periods: Privileged Choice Flex policies with Benefit Increase Option (BIO) - 94% phased (39.4%, 39.4% compounded). Privileged Choice Flex policies with no Benefit Increase Option (BIO) - 51.5% phases (23.1%, 23.1% compounded). This rate increase does not apply to Standard policies with a 20% Couples Discount, where both insured were approved for and issued coverage, and a 10% Couples Discount, where only one insured was approved for and issued coverage. Agent notifications begin November 2, 2021. Client notifications begin November 9, 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

  • John Hancock Announcement Regarding Business Insurance in NY. In light of certain administrative requirements in New York related to business insurance (including but not limited to key person, buy-sell, partnership, and policies to fund benefit plans), John Hancock is unable to accept applications for such insurance at this time. They are committed to meeting the needs in this segment of the market and are completing the work necessary to allow them to again consider this type of insurance.

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)

  • Legal & General 2021 Year-End Deadlines. Key dates and deadlines for processing 2021 year-end business.
  • Updates to the LGA Advisor Hub are Live. Effective Tuesday, November 1, the following updates are live on Advisor Hub: *A new Growth Solutions section that highlights the ways in which we make it easier for you to do business * Three new pages as part of Growth Solutions dedicated to our product suite and digital processes, like the Horizon Experience *Revamped underwriting pages relocated to the Growth Solutions section of the site.

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

  • Pricing Update: Lincoln LifeElements® Level Term (2019) – 11/15/21. Effective Nov. 15, 2021, Lincoln is announcing pricing updates to Lincoln LifeElements® Level Term (2019) which will improve competitive positioning in key cells. Lincoln LifeElements® Level Term life insurance offers both a traditional paper application process and a streamlined Tele-App process for electronic and paper ticket submissions. Goals of the reprice include being a “top 3 carrier” in the following non-tobacco, core cells for all term periods: ▪ Face amounts of $1M+, currently top 3 for most ages 30+. A large majority of cells ages 45 and above are ranked #1. ▪ For face amounts of $500k - $999k, currently top 3 for almost all ages 55+. ▪ Premium updates include decreases only. For states that are approved at rollout, there is a 30-day transition period which begins on Nov. 15, 2021 and ends on Dec.15, 2021.
  • Pricing Update: Lincoln TermAccel® Level Term (2019) – 11/15/21. Effective Nov. 15, 2021, Lincoln is announcing pricing updates to Lincoln TermAccel® Level Term (2019) which will improve competitive positioning in key cells. Lincoln TermAccel® life insurance offers an entirely electronic, streamlined interview process with fully automated underwriting and no APS requirement. Goals of the reprice include being a “top 3 carrier” in the following non-tobacco, core cells for all term periods: *For face amounts of $500k and above, ages 40 – 60, nearly all premiums are in the top 3. At $500k and above, all ages, nearly all premiums are in the top 5. *For face amounts of $1M, a large majority of cells ages 45 – 60 are ranked #1 *Premium updates include decreases only. For states that are approved at rollout, there is a 30-day transition period which begins on Nov. 15, 2021 and ends on Dec. 15, 2021.

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

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

  • Resuming Individual LTCi Sales in the State of Washington. Effective December 1, 2021, Mutual of Omaha will once again be accepting individual long-term care insurance applications from the state of Washington. The MutualCare® Solutions Portfolio will resume sales without any minimum requirements. e-Applications, illustrations and quoting software will be available beginning December 1, 2021. Mutual of Omaha LTCi policies needed to be placed prior to November 1, 2021, to be eligible for the WA Cares Fund tax exemption. Any new applications will not be eligible for the tax exemption. There will be a commission chargeback of 100% for policies issued May 19, 2021 through November 1, 2021 and lapsing within the first policy year.
  • Mutual of Omaha 2021 Year-End Deadlines. Key dates and deadlines for processing 2021 year-end business.

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

  • Update On Life Insurance Processing Updates for Washington State. As a reminder, Nationwide is not accepting new applications for life insurance from Washington state. If you submitted applications after the July 30, 2021, deadline and they were not submitted electronically through iPipeline or Porch, Nationwide will suspend work on these applications unless you contact them by December 31, 2021. For currently pending policies, Nationwide will issue the policy with an effective date of Oct. 28, 2021, while the proceeds will be applied on the issue date (or the date received if proceeds are received after the issue date). Due to the volume of requirements that have been received on approved Washington applications and increased volumes as a result of year-end processing, expect delays in placing business in force for Washington applications.

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

  • OneAmerica 2021 Year-End Deadlines. While OneAmerica Underwriters and Case Managers are focused on processing as much business as possible before year-end, processing times remain higher than normal. Unfortunately, OneAmerica's ability to provide and respond to status requests is also impacted. Continue to monitor your pending cases 24/7 through OneSource Online or your back office staff, as appropriate.

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.

Pacific Life

  • Application Submitted, Now What?. From application to underwriting, Pacific Life makes it easier to educate your clients about the next steps after applying for PL Promise life insurance—from what’s needed for the online health history questionnaire or tele-interview, to preparing for the paramed exam (if required). Share this helpful client guide to help prepare your clients for what happens next.

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

  • Principal 2021 Year-End Deadlines. Key dates and deadlines for processing 2021 year-end business.
  • Using the Principal Business Solutions Enhanced Underwriting (BSEU) Program. Principal's BSEU program provides streamlined underwriting for larger face amounts and is designed for business owners, key employees, and other high-income earners. To submit a case for the program, let Principal know in your cover letter or attach the BSEU Opt-In Consent Form (DD9636-0). You may also indicate it on the New Business Processing Cover Sheet (DD1971-6), which has recently been updated to a new version.

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.

Prudential

  • Announcing Customizable PruDesigns Concept Illustrations Reports. The Advanced Planning team has exciting news: PruDesigns, concept illustrations, are now available to help you present complex strategies to clients. Prudential's new flyer provides an overview of PruDesigns, the benefits of incorporating these illustrations at the point of sale, and a list of the reports offered.

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

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

  • SecureCare Sales in WA Resume. Effective November 17, 2021, Securian is resuming sales of SecureCare Universal Life to Washington state residents. Please note: backdating will not be available to meet the guidelines for exemption from the WA Cares Fund.

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.

Symetra

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.


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