Tuesday Tips – 07/22/2014
Accordia Mailing Policyholders
As most of you know the Athene life insurance platform is now Accordia Life. As this transition continues part of the process will be to notify existing life insurance policy holders that their policy will now fall under the Accordia umbrella. These mailings will begin in the next couple of weeks and will continue for the next several months. I’ve attached copies of the mailing as well as a frequently asked questions page as well.
Equitrust Rate Change
Equitrust has announced a rate change to it’s Confidence Income Annuity. The change goes into effect August 1st and does not apply to applications received by July 31st. Equitrust will take a faxed application on July 31st as long as the original is at the home office by August 1st. Call for details.
With the various changes over the last few years to the estate tax, credits, etc. many households find themselves exempt from the estate tax. The hurdle that still presents itself is efficiently transferring wealth to the next generation. This can become increasingly difficult if there is a business or other tangible assets that can’t be easily broken up at death. A solution to this is estate equalization using life insurance to transfer equitable amounts of wealth to the next generation. Not only can this transfer wealth more efficiently but, it can also alleviate turmoil within the family. I’ve attached some good sales pieces discussing the ideal client and overall strategy.
IUL Sales Increasing
According to a recent Milliman Survey sales of indexed universal life policies have increased significantly over the last 3 years. In 2010 IUL sales made up 14% of all universal life sales. In the year ending 2013 indexed universal life insurance sales skyrocketed to 31% of all universal life sales.
Forethought’s SecureFore Series Available
Forethought has rolled out it’s new SecureFore annuity series. These products are designed for the client that says I’m looking for a short term option with competitive interest rates. This annuity series offers surrender periods ranging from 3 years to 7 years with very competitive features and rates. The interest rate on the 3 year option is 1.75%. Call today for product specs and state availability.