Tuesday Tips – 08/19/2014
American Equity Commission Change and LIBR Change
American Equity has announced some positive changes to their fixed index annuities and income rider options. They have announced a new commission option that offers a higher upfront commission. Advisors that like the lower upfront commission with two years of renewals will still be able to select that option if they prefer that. In addition to this American Equity has adjusted their income rider options to be gender based. Moving forward payouts will be different for males and females. After running several scenarios we have found that this often results in a higher guaranteed income payout. The new income rider does require new product training. Call today for details or to get a quote.
Equitrust Rate Change
Equitrust has announced a rate decrease to select fixed indexed annuities in their portfolio. The change will go into effect August 27th. Applications need to be into the home office no later than August 26th. Equitrust has stated that they will accept a faxed copy on August 26th to hold rates as long as the original is received August 27th. Call today to get an updated rate sheet.
Trusted Optimized Producer System
We have officially rolled out our TOP System. This project has been in development for the last year and is the only system of its kind in the industry. This system was designed to position you as the most trusted advisor in your community, the most knowledgeable, and the most highly rated and reviewed. Not only will this system build your brand but it will also generate a consistent stream of organic 100% exclusive client inquiries. We are hosting a webinar on this August 26th at 11:00 cst. Call today to get registered.
Voya Announces Sale of Life Insurance Policies
Voya Financial has announced the sale of $100 billion of existing life insurance policies. The sale includes roughly 170,000 inforce life insurance policies and will create around $200mm in capital. The move was made to create cash, improve profitability, and continue to focus on retirement products.
Symetra Survivorship Universal Life
Symetra has introduced a new competitive survivorship universal life policy. The product is extremely well priced and is designed for lifetime guarantees. In addition, it has competitive commissions and high targets as well as a $1mm premium limit so it’s great for 1035’s. Call today to get a spec sheet and quotes.