|
Important From Genworth: Suspension of All Individual Long Term Care Insurance and Income Assurance Annuity Sales Through the BGA Channel
|
|
|
"Effective Monday, March 11, 2019, Genworth will temporarily suspend sales of individual long term care insurance and the Income Assurance annuity through the BGA channel in all states. We will continue to sell these products through other channels.
Effective Monday, March 11, 2019, the Genworth companies will no longer accept new applications from the BGA channel for our individual long term care insurance or annuity products, including:
- Privileged Choice® Flex
- Privileged Choice® Flex 2
- Privileged Choice® Flex 3
- Privileged Choice® Flex 3 - Element
- Income Assurance Immediate Need Annuity
- This change does not affect the following:
- Renewal commissions for in-force business
- Pending business or related compensation
- In-force policyholder servicing
- In-force policy contractual provisions and benefits such as conversion rights
Existing customers and their benefits will not be impacted by this change, and Genworth’s commitment to them remains as strong as ever.
Transition Rules for New Applications and Pending Business Through the BGA Channel
- Electronic Tools
03/08/2019 Last day to submit an eApplication (eSuite of New Business tools)
- Quote it!
03/08/2019 Last day to quote individual long term care and Income Assurance annuity products
- Applications
03/08/2019 Last valid Application Signed Date
03/11/2019 Last valid Home Office Receipt Date for applications, must be received by 8:00pm ET
Faxed applications must be sent to either: 434 948.5566 or 800 456.8329. Applications may be emailed to EMM-GNWLTCApps@genworth.com
Note: Applications faxed or emailed to any fax number or email address other than those listed above may not make the 8 PM ET cutoff.
- Pending Business
04/12/2019 Last day to receive pending new business requirements
05/31/2019 Last day to place pending new business in-force
05/31/2019 Pending applications closed that have not been issued in-force"
|
|
|
Important From Banner | LGA | William Penn: Accidental Death Marketing Campaign Information
|
|
"Since 2017, Legal & General America has been direct marketing accidental death (AD) coverage to inforce policyholders. During these campaigns, select policyholders will receive a direct mail offer to purchase a pre-determined amount of AD coverage on a guaranteed issue basis.
Within the next two weeks, we will be launching our next campaign and much like previous direct mail programs, policyholders can enroll in this valuable coverage using a self-fulfilling authorization form, which can easily be completed and returned by mail or accepted online
Important Details
- Servicing agents and their upline hierarchies will be compensated on accepted offers with a one-time commission on the first year's premium. For a detailed compensation schedule, contact a member of our sales team.
- Agents and their upline hierarchies must be A&H licensed to receive commissions and their licenses must be in the National Insurance Producer Registry (NIPR).
- The Accidental Death policy is guaranteed issue — no additional underwriting required!
- The mailing will be specific to each customer and will include a personalized coverage amount and pre-calculated premium.
The bottom line
This continues to be a great opportunity for you and your agents to enjoy additional financial compensation — without any additional workload or expense — and for customers to better protect their families’ financial future!"
|
|
|
Reminder From North American: REVISED - Cap, Participation, Spread and Illustrated Rates for Indexed Universal Life Insurance Products
|
|
|
"On Monday, February 25th a field bulletin was sent to announce changes to the cap, participation, spread and illustrated rates for indexed universal life products. Within the bulletin, the “fixed account current interest rate” was inaccurately stated. The updated information now reads – “Please be advised that the following currently marketed products will have a new fixed account current interest rate of 3.50% as of April 1, 2019: Builder Plus IUL, Guarantee Builder IUL 4, Rapid Builder IUL 4, and Legacy Optimizer.”
|
|
|
Reminder From AIG: New Term Rates - Rate Changes Include Increases & Decreases In Certain Cells
|
|
|
"As of February 19th, AIG Select-a-Term gets even more competitive! This reprice focuses on improving rates for longer term durations and death benefit amounts $250k+ for certain issue ages and risk classes. The rate changes will include increases and decreases in certain cells."
|
|
|
Cheaper Than A Cup Of Coffee
|
|
"Our Select-a-Term consumer-approved sales idea shows how attainable protection goals can be and how life insurance is cheaper than a cup of coffee.
Wake your clients up to 18 term durations and the full convertibility of Select-a-Term.
Show them how to help protect their family, pay off a mortgage or ensure college savings with this client flyer. It's a real eye-opener!"
View Customizable Consumer-Approved Flyer >>
Contact Katie to get yours today!
|
|
|
Reminder From Lincoln: Term Portfolio Repriced
|
|
"Term portfolio repriced to maintain competitiveness:
- Lincoln TermAccel® Level Term — for middle-market clients features a fully automated process.
- Lincoln LifeElements® Level Term — for affluent clients. You'll work with the same underwriters as you do for your permanent business."
- See The Advantages >>
|
|
Transition Guidelines
For states that are approved at rollout, there is a 30-day transition period which begins on February 11, 2019 and ends on March 13, 2019. During the transition period:
- New applications received and applications currently in underwriting will automatically receive the lowest rates available. A request to use the lower rates will not be required. If the application had been submitted with premium using higher rates the difference will be automatically refunded.
- For policies already issued Lincoln will accept a written request to change to the Lincoln LifeElements® Level Term (2017) – 02/11/19 rates & the Lincoln TermAccel – 02/11/19 rates.
- For policies already placed Lincoln will not allow rewrites to the Lincoln LifeElements® Level Term (2017) – 02/11/19 rates & TermAccel – 02/11/19 rates.
- For LincXpress Tele-App cases a complete ticket and required solicitation forms must be received within the same transition period outlined above.
- For states approved after rollout, the above will automatically apply based on the availability date.The 2017 product has not been filed at this time in Massachusetts and New York since they have not approved the use of PBR/2017CSO. Lincoln TermAccel is not available in New York."
|
|
|
From Banner | LGA | William Penn: Anaphylaxis Underwriting Dialogue
|
|
"As part of our commitment to make long-term care (LTC) expense planning easy and more affordable for clients, we have enhanced our Lincoln MoneyGuard® II solution. Effective February 11, 2019, we implemented new rates that will re-enforce our #1 position in the hybrid marketplace.*
See how our new rates make our hybrid solutions even stronger!"
|
|
|
From Protective: Zero Downside Risk Means Peace Of Mind Today
|
|
"Our IUL thinks its a GUL.
An IUL with zero downside risk and guaranteed protection? Look no further.
Protective Indexed Choice UL offers balance to risk-averse clients, with all the benefits of an IUL plus guaranteed* lifetime protection.
Its simplistic, yet responsible design provides the ability to earn interest based on the growth of one performance index—the S&P 500®. And, clients purchasing our IUL are protected from negative index performance—thanks to its 0% floor.
Start thinking differently. Think Protective Indexed Choice UL.
Offer Downside Protection >>
*As long as the premiums are paid as illustrated and no loans are taken on the policy, the death benefit is guaranteed to remain in force for the period illustrated."
|
|
|
From Securian Financial: WriteFit Underwriting Limit Is Doubling!
|
|
"Our WriteFit Underwriting™ Program allows for faster underwriting decisions, with no medical exams or blood tests – and we want to provide that buying experience to even more of your clients by doubling our WriteFit Underwriting face amount limit for clients up to age 50! With the face amount limit increase to $2,000,000 over 82% of applications submitted could be eligible for our WriteFit Underwriting program.1"
View Flyer>>
Upcoming Webinar
WriteFit Underwriting now draws a link between behavior and mortality risk
March 27th • 11:00 AM CT
Speaker Katy Herzog, Senior Underwriting Solutions Consultant
Join Webinar >>
|
|
|
From American National: Case Study: The Difference is in the Cash-Out Rider
|
|
"Signature Guaranteed Universal Life Insurance: The Difference is in the Cash-Out Rider
Marcy and Shane were in their early 50’s when Shane received a promotion at the software company where he worked. At that time, Marcy was working part time at a day care. Shane had been increasing his group term at work but felt he also needed to provide permanent protection for his family in addition to his group term insurance. "
Read More >>
|
|
|
LTC From Genworth: Hank's Story: What If? Why People Don't Prepare
|
|
|
Let's Talk: Who, What, Where
|
|
|
Beyond Dollars Brochure 2018
|
|
|
From North American: Build An Above Average Future For Your Clients!
|
|
|
Are there risks that may be standing in the way of your clients building an above average future? See how the new Builder Plus IUL indexed universal life insurance not only gives your clients death benefit protection, but can also help them mitigate life's risks.
Show your clients how you can help them build an above average future. Share this video with them today! >>
|
|
From Eugene Cohen Ins. Agency, Inc.:
DI DAY 2019 - RSVP Today....
|
|
DI DAY 2019 TUES, MAY 14TH
- Expert DI industry speakers share the latest on their words of advice & product development!
- Learn how to position disability insurance products to the marketplace
- See why DI can be the product that creates client relationships that last a lifetime!
- Coming in from out of town? Overnight accommodations are available.
- DI Exhibits booths!
- Lunch & networking to follow approximately after
|
|
 MARC JACOBSON
Main Keynote Speaker
“Unlocking Your Potential”
|
 TOM PETERSEN
Keynote Speaker
“Excuse Me, But There Is A Hole In Your Protection!”
|
|
|
**LIMITED ADMISSION**
Due to space limitations, we cannot accept more reservations once the spaces have been filled.
YOU MUST RSVP FOR THIS EVENT!
|
|
|
On-site CE Ethics Course for IL Brokers
|
|
CE ETHICS COURSE
TUES, APRIL 30TH | 9 AM - 12 PM
While the class is provided as a courtesy, the CE Provider, PTS (Professional Training Services, Inc.), does require a check for the IL State Filing Fee of $18.00.
Register Now >>
|
|
Eugene and Michael Cohen are both honored to be asked to write a monthly column on Disability Insurance for Broker World Magazine.
They've humbly accepted this request and have been submitting articles since the beginning of 2018.
We are happy to share a few of the latest articles below and invite you to view the archive library as well.
If you have any suggestions or care to get a hard copy of these articles sent to you, please do not hesitate to contact us; we'd love to hear from you.
Enjoy!
|
|
|
Broker World Magazine - Mar 2019
Disability Insurance: A Pillar Of Planning And Protecting The Nest Egg
Read Article >>
|
|
Broker World Magazine - Feb 2019
Buyout Coverage: To DBO Or Not To DBO?
Read Article >>
|
|
|
To view and read the archive of articles, click here! >>
|
|
|
From North American:
Watch Recent Webinars On-Demand!
|
|
"If you’ve missed any of our recent training opportunities, you can catch up on your schedule with North American Academy’s on-demand webinar library."
Watch Now! >>
|
|
|
|
|
