Tuesday Tips – August 22nd, 2017

Alerts

Global Atlantic Sunsetting Products

Global Atlantic has announced that they will be retiring the Income 125+ and Index bonus 115 products.  The last day to submit an application is  September 1st.  Call today for additional details.

AIG Price Reduction

AIG has lowered pricing on their term portfolio.  The reduced pricing impacts death benefit amounts of 500k+ and applies to non New York and New York cases.

Sales Concept

Policy Stacking With ROP

Several carriers now offer ROP on their GUL products.  If a client has a death benefit need that they expect to be lower in the future stacking 2 policies together can be a cost effective way to address their current death benefit need as well as their death benefit need in the future.  When the client is ready to reduce the face amount they can surrender one policy and pay up the remaining plan and eliminate any future premium payments on a guaranteed basis.  Call today to learn more.

Industry News

LPL Buys NPH

It was announced last week that LPL has completed the purchase of National Planning Holdings Inc. an independent broker dealer.  The initial price was $325mm with an additional payment of up to $123mm due next year depending on how many advisers the LPL retains.

Hot Rates

AIG Max Accumulator + IUL

The Max Accumulator + IUL by AIG is a competitive, flexible IUL designed for income as well as life’s what ifs.  The product offers an annual point to point cap on the S&P of 13% along with multiple other indices.  In addition to this the product offers a chronic illness rider, income for life rider, and a select income rider which lowers the cost of the plan if the death benefit is taken in installments.  Call today for additional details and state availability.

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Tuesday Tips – August 8th, 2017

Alerts

Rate Increase

Several carriers have announced rate increases on caps and reductions in spreads. Call today to get the most up to date rates.

Prudential SUL Pricing Increase

Prudential has announced that they will be increasing pricing on their SUL Protector. Level pay scenarios will see a 6% increase while single pay scenarios will see a 14% increase on average. A date for the change hasn’t been announced yet.

Sales Concept

Life Insurance Awareness Month

September is Life Insurance Awareness Month and now is the time to ramp up to generate more business. In preparation for life insurance awareness month we have put together a complimentary guide that includes presentations, sales concepts, and prospecting materials to help you close more business. Request your kit today.

Industry News

Genworth Rate Increase

Genworth has announced they will be implementing their previously announced rate increase. Affected blocks of business will have premiums increased over the next 12 months and affected clients will be notified 60 days in advance of the increase. You can see what clients will be impacted by visiting www.pro.genworth.com.

Hot Rates

North American Legacy Optimizer

North American has rolled out a new single premium simplified issue IUL. The product has a full death benefit guarantee and can be approved in as little as 15 minutes with a tele interview. The product writes ages 50-80 and offers terminal and chronic illness riders as well. The product offers a 10% premium bonus as well as a return of premium feature. Call today for additional details.

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2017 Life Insurance Awareness Month Kit

Tuesday Tips – August 1st, 2017

Alerts

Athene Premium Increase

Athene has announced it will increase the minimum premium from $5,000 to $10,000 on the following products: Ascent Pro Bonus, Athene Benefit 10, Athene MaxRate.  This change takes effect October 2, 2017.

Sagicor Commission Incentive

Sagicor is kicking off a commission incentive for their Fixed Indexed Single Premium Whole Life product.  The incentive runs from August 1st-October 31st.  Qualifying cases will receive an additional 1% commission during this period.  Call today for additional details.

Sales Concept

Legacy Marketing Group Marketing Reimbursement

LMG is currently offering .25% reimbursement for marketing costs on every $250k of non qualified business submitted.  The promotion runs through December 31st, 2017.  In order to receive your reimbursement an invoice must be provided.  Call today for additional details.

Industry News

FINRA Fines

FINRA reported that operating revenues declined by 6% in 2016.  Fortunately for FINRA due to an increase in fines the decrease was offset.  Funds from fines increased to $173.8 million from $93.8 million in 2015.

Hot Rates

Lifetime Legacy with LMG

LMG offers a competitive simplified issue single premium life product.  The product writes 55-85 and offers chronic and ADD riders.  In addition to this the product has a guaranteed 4% interest rate and offers a teleunderwriting option that can be done at point of sale.  Call for additional details and product availability.

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Tuesday Tips – July 25th, 2017

Alerts

Allianz Product Changes

Effective August 1st Allianz will be implementing changes to some of their products.  The 222, 360, and 365i products are all impacted and there will be reductions in bonuses and interest rates paired with increases to some fees.  Call today to request a full breakdown on the changes.  Applications must be at the home office by 7/31 to receive the current rates.

Athene Product Changes

Athene has announced that effective August 14, 2017 they will be discontinuing the Performance Elite 10 and 15 series of products in the following states, Minnesota, Montana, New Jersey, Oregon, Pennsylvania, and Washington.  They will be rolling out a new Performance Elite 10 year product that will be available for sale in those states.

Sales Concept

Insuring Income In Retirement

One of the biggest threats to income in retirement is the cost of health care and a chronic illness.  There are a variety of products that provide coverage for LTC and Chronic illness.   There are a number of nuances to these types of products and riders that can lead to challenges determining what makes the most sense for a client.  Available for download is our LTC vs Chronic illness presentation which takes a straightforward approach to comparing and discussing the pros and cons of the various riders that are available.

Industry News

Health Savings Accounts

Total assets in HAS’s have grown by 2,200% since 2006.  The total amount in health savings accounts is expected to reach over $53 billion by the end of 2018.

Hot Rates

Protective Indexed Choice UL

Protective offers a competitive IUL that provides a nice balance between death benefit guarantees and accumulation.  The product is designed for the consumer base that values guarantees but also values cash accumulation in the event they want to bail out of the product or have some unforeseen situation happen.  The product offers a 9.50% annual point to point cap on the S&P and also offers a variety of riders to customize the product to the clients needs including their ExtendCare Rider and Income Provider Option.  Call today for additional details and state availability.

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Alerts

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.

Sales Opportunity

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.

Industry News

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.

Hot Rates

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.

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Tuesday Tips — July 18th, 2017

Alerts

ANICO Announces Updated Accelerated Underwriting Options

Xpress Plus is a new underwriting program that expedites the application process and saves your customers time and hassle by automating a portion of the underwriting process for applications submitted electronically.

When you submit an individual application that is within the parameters of the Xpress Plus program, exams are not automatically required. If an exam is required, you will be notified, either immediately or via ExpertOffice.

Click here for a guide that covers the accelerated underwriting options available.

Sales Concept

The Sandwich Generations and Retirement

North American has conducted a retirement study focused on the Baby Boomer and Generation X markets. There are a series of 3 white papers that will be made available, the first of which focuses on the lack of communication when it comes to retirement planning.

Despite the fact that older generations are becoming more and more reliant on younger generations to help support their retirements, they are not talking to each other much about retirement planning and expectations.

Click here for the first white paper that discusses this lack of communication amongst these generations which can help us to understand their minds sets about this extremely important topic.

Industry News

Social Security Trust Funds Post Higher Gain

The main Social Security trust funds did better in 2016 than in 2015, but they’re still on track to run dry in 2034, according to the fund trustees. The Social Security Administration uses two main trust funds to supply benefits: a retirement benefits trust fund called the Old-Age and Survivors Insurance fund, and Disability Insurance Trust fund.

Together, the funds produced a $35 billion gain in 2016 on $957.5 billion in revenue, compared with a $23 billion gain on $920 billion in revenue for 2015. The Social Security trust fund trustees have posted copies of the latest trust fund report and related documents here https://www.ssa.gov/OACT/TR/2017/

Hot Rates

F&G Guarantee Platinum 5

F&G currently has a very competitive rate on their 5-year multi year guarantee annuity. The rate is 3.1% for a limited time so this is a great opportunity for clients and prospects who are looking for short term vehicles with guaranteed returns that are much higher than CDs!  As a side note, all applications for this product must be submitted via As a side note, all applications for this product must be submitted via

As a side note, all applications for this product must be submitted via electronic application. Call today for a quote!

Tuesday Tips – July 11th, 2017

Alerts

Symetra Suspending SUL Sales

Symetra has announced that they will be suspending sales of their SUL product effective July 28th.  Applications must be signed and in-house by July 27th.  If the policy will be trust owned the trust must already be established prior to July 28th.  Call today for additional details.

Legacy LibertyMark

Beginning July 31st Legacy will require a delivery receipt in all states for the sale of the LibertyMark series of products.  The move was motivated to avoid market conduct and service complaints arising from the date a policy is delivered.

Sales Concept

The Case For Cash Value Life Insurance

Cash value life insurance can play an important role in a client’s financial plan.  Available for download is an educational presentation that discusses the many challenges consumers face saving for retirement and how cash value life insurance can help mitigate some of these challenges.

Industry News

Credit Card Debt

According to a study by the Federal Reserve there is currently $1 trillion in credit card debt in the U.S.  This doesn’t include mortgages, auto loans, and student loans.

Hot Rates

Brighthouse P.A.U.L

The Premier Accumulator Universal Life product by Brighthouse is a single premium UL designed to act as a holding vehicle for dormant cash.  This product is designed for consumers who want a better rate of return than a CD but value liquidity.  In addition to competitive interest rates the product has a tax free death benefit and also offers chronic and terminal illness riders.  Call today for additional details.

Please fill out the form below to learn more

Please fill out the form below to learn more

Tuesday Tips – June 27th, 2017

Alerts

Reminder: North American MYGA changes effective 6/27/17

We’ve split out the product by guarantee period, retiring the “II” and listing the guarantee period year # after the name. Re-Entry Change – Upon expiration of the guarantee period, re-entry will only be allowed into the same guarantee period. New Business Process Change – As of 6-27, MYGA business, commissions and credited rates will be based on application signed date rather than application received date. Commission Change – Some MYGA commissions are changing; please refer to your updated schedule available 6-27

Sales Concept

Beneficiary Review

Many times when a consumer buys a financial product, the policy gets put in a safe place and is never looked at again. Beneficiary reviews are a great opportunity to make sure the prospect’s plans are up to date with their current intentions as well as uncovering new potential sales. LFP has put together a beneficiary kit with a prospecting letter for your use in this area. Call today to request your Beneficiary Review Kit!

Industry News

Senate Bill Could Add 22 Million to 2026 Uninsured Total According to CBO

The Senate’s new Better Care Reconciliation Act bill might have roughly the same effect on the number of people with health coverage as the health bill the House passed in May. Analysts at the Congressional Budget Office have published figures supporting that prediction in a new analysis of the BCRA bill. A copy of the analysis is available for download.

Hot Rates

Sagicor Single Premium Indexed Whole Life

Sagicor has an outstanding single premium product that is perfect for clients who are interested in wealth transfer, limited underwriting, liquidity and great cash growth potential. This product offers a 10% up front bonus as well as two strong indexing strategies to bolster the cash value growth. There is also a free rider that allows for accelerated benefits due to chronic or terminal illness. In addition to all of this, many cases can be approved through underwriting in a matter of minutes with no need for exams. Call today to get your agent guide as well as quotes for any prospects who are a good fit!

Industry News Downloads

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Tuesday Tips – June 20th, 2017

Alerts

North American Radio Ads

North American has launched a new radio spot platform with prerecorded ads.  Each ad can be customized to an individual producer.  Several ads have been created and range from life changing events to annuities and life insurance.  Call today to learn more

LFG Income Rider Change

Beginning July 1st the income edge rider won’t be available for sale with Lincoln New Directions 6 and Lincoln Covered Choice 5 FIA’s.

Sales Concept

Annuity Awareness Month

June is Annuity Awareness Month.  During the month of June there are numerous marketing campaigns discussing the benefits of annuities to consumers.  This can be a great opportunity to piggyback on some of this marketing.  We have put together an annuity marketing kit for the month of June that includes a variety of pieces discussing the benefits of annuities.  Request your copy today.

Industry News

Household Debt

Household borrowing has increased to a record 12.73 trillion.  In addition to this the percentage of household debt that is overdue has increased over the last two quarters.

Hot Rates

Prudential Prulife Essential UL

Prudential has introduced a new low cost current assumption universal life product.  The product offers daily interest crediting as well as death benefit guarantees to age 90.  The product also offers chronic and terminal illness riders as well.

Please fill out the form below to learn more

Tuesday Tips – June 13th, 2017

Alerts

Minnesota Life Rate Change

Minnesota Life has announced rate changes that will impact multiple products. The Eclipse and Omega Builder series of products will see cap reductions on the S&P index while the Orion will see an increase on the volatility control index. These changes take effect Friday June 16th. Call today for additional details.

Great American Rate Decrease

Great American has announced a rate reduction for several fixed and indexed products that will take effect Monday June 19th. Applications must be received by Friday June 16th to receive the current rates. Call today for an updated rate sheet.

Sales Concept

Off Holiday Marketing

The 4th of July is coming up and this can be a great opportunity to partner with a local fireworks stand and raffle off a fireworks package. This can be a great way to generate some new prospects and gain additional exposure. Call today to request our off holiday marketing guide.

Industry News

Fed Rates On The Rise

Federal reserve officials recently said in the near future they will start moving interest rates higher again.

Hot Rates

Athene Performance Elite 7

Athene recently introduced the Performance Elite 7, a short 7 year surrender with great upside potential. The product has annual point to point caps on the S&P as high as 4.25% and a multi asset index with a 110% participation rate. In addition it has an optional income rider that comes with a 5% premium bonus. Call today for additional information and state availability.

Please fill out the form below to learn more

Tuesday Tips – June 6th, 2017

Alerts

North American Commission Changes

As part of North American’s process to comply with the DOL Fiduciary Rule’s June 9th applicability date, they are changing their commissions to create better consistency with their product types. Call us for your updated commission schedule. Note: Applications received June 8th or prior will receive the old commission rates

Annuity Forms Update

Due to the implementation of the DOL Fiduciary rule, carriers will be updating some of their application forms, effective June 9th. Make sure to contact your marketer to get the most current application packets on or after June 9th!

Sales Concept

The Value of Living Benefits on Term Insurance

Term insurance can be an affordable way to obtain temporary death benefit protection. Most consumers purchase term based on the lowest premium available with a reputable company, and the focus is soley on the death benefit. With that being said, coverage for chronic and critical illness has come more in to focus in the life industry over the last several years. Clients have more interest in policies that can protect against a premature death, as well as providing living benefits, than at any other time in our industry’s history. Legacy Financial Partners works with several carriers that offer term coverage with living benefits. If you have a client that is shopping term insurance like a commodity, be sure to talk to them about the accelerated benefits that are now available with several carriers!

Industry News

Bielen New CEO of Protective Life

Richard Bielen is preparing to take over as the chief executive officer of Protective Life Corp. July 1. John Johns, the current CEO, will become the company’s executive chairman, the company said last week. The Birmingham, Alabama-based insurer is a subsidiary of Tokyo-based Dai-Ichi Life Holdings Inc. Dai-Ichi Life acquired the company in 2015. Johns, 65, has been an executive at Protective Life since 1993. He succeeded Drayton Nabers Jr. as the company’s CEO in 2002. Johns has served as chairman of the American Council of Life Insurers, and he helped lead a campaign for the University of Alabama at Birmingham that raised $1 billion. Bielen, 56, has been an executive at Protective Life since 1991. He became the company’s chief investment officer in 2002. He took over as the chief financial officer in 2007. He became president and chief operating officer in 2016. Since 2016, he has run the company’s life and annuity business. Protective Life has about $75 billion in assets.

Hot Rates

AIG Power 10 Protector

AIG has a strong 10 year FIA product that offers great upside growth potential. This is a 10 year annuity with a 10% decreasing surrender charge as well as the standard 10% free withdrawal privilege. The Power 10 Protector offers an annual point to point cap of 5.1% for deposits over 100k and also has 2 uncapped options tied to the ML Strategic Balanced Index, with low spreads. There is also a separate version of this product that offers a strong income rider, if desired. This rider has a 7% rollup for 10 years, and offers competitive payout percentages. Call today for a quote!

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