Tuesday Tips – February 9th, 2016

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Alerts

Great American Lowering Rates

Great American has announced a series of rate, bonus, and commission decreases that will take affect February 15th and February 21st. Interest rates are dropping for 5 products and the American Valor 10 will see commission, rate, and bonus decreases. Call today to get an updated rate sheet.

Product Discontinuation

North American has announced that they will be discontinuing the Custom GrowthCV and Custom TermGUK effective March 1st. North American cited low sales volume for the reason of the discontinuation. Applications must be received by the home office by March 1, 2016.

Sales Opportunity

Unconverted Leads

Many advisors don’t realize that they’re wasting a huge opportunity with aged leads. With any marketing campaign there will be prospects that are ready to do something now and others that are interested but not ready to move forward yet. Oftentimes advisors tend to only focus on the prospects that are ready to do business now and fail to nurture the leads that don’t take action now. Implementing a drip marketing system can be a great way to continue to stay in front of prospects that haven’t done business with you yet. Not only will it help position you as a knowledgeable advisor it also increases your chances of doing business with the prospect when they are ready to move forward. The other benefit to drip marketing is that if structured properly it can be automated so that the marketing is going out while you are focusing on other aspects of your business. Call us today to discuss how to get an effective drip marketing campaign implemented.

Industry News

Genworth Suspends Sales

Genworth has announced that it will suspend sales of all life insurance and annuity products effective March 7, 2016. In addition Genworth announced a round of layoffs last Thursday. The news was announced last Wednesday and it remains to be seen what the next steps for Genworth will be.

Hot Rates

North American Income Choice

The Income Choice 10 is a 10 year product that offers a variety of competitive index options in multiple indices. In addition to this it offers a 5% GLWB bonus and offers a 2% stacking income rider plus 150% interest credit from the accumulation value to the income account value. Call today for additional details.

Tuesday Tips – February 2nd, 2016

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Alerts

North American Dropping Rates

North American will be dropping caps on several of their IUL Products effective February 29th. Money will need to be received at the home office by February 25th to receive current rates. Call today to get an updated rate sheet.

National Life Dropping Rates

National Life has dropped rates on their UL and IUL products effective February 1st. Most of the decreases are around .25bps with participation rate strategies dropping 5%-10%. Call today for an updated rate sheet.

Sales Opportunity

Athene Sales Opportunity

Athene is currently running a sales contest through April 8th of this year for their Performance Elite FIA series. Clients can get up to a 12% bonus with an annual point to point cap. While the advisor can earn up to an additional 1% bonus on top of their commission. Call today for additional contest details and product information.

Industry News

Symetra Completes Transaction

Effective February 1st Symetra completed the transaction to sell to Sumitomo Life Insurance Company of Japan. With this completion of the sale Moody’s has upgraded Symetra’s financial strength rating from A3 to A2.

Hot Rates

Forethought Income 150+

Forethought’s Income 150+ is a competitive 10 year product that offers competitive income and caps. The product offers up to a 50% premium bonus to the income account value and effective February 1st has added a new volatility control index managed by Blackrock. Call today for details and state availability.

Please fill out the form below to learn more

Tuesday Tips – January 26th, 2016

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Alerts

Lincoln National Dropping Rates

Effective February 1st Lincoln National will be dropping rates on several of their fixed and indexed annuities.  Applications must be at the home office by January 29th to qualify for the current rates.  Call today for an updated rate sheet.

Equitrust Raises Rates

Equitrust has raised rates on the WealthMax Bonus IUL.  This single premium simplified issue product  offers a return of premium in addition to competitive cash accumulation and death benefit.  Call today for additional details and an updated rate sheet.

Sales Opportunity

Tax Update

The new year has ushered in a number of tax changes from last year.  Since W-2’s and 1099’s must be mailed by the 1st this can be a great opportunity to meet with clients.  Available for download is a 2016 tax update that lays out all of the changes for the new year.

Industry News

AIG Advisor Group Sold

AIG announced today that AIG Advisor Group(the company’s network of broker dealers) has been sold to Lightyear Capital and PSP Investments.  The deal is expected to be finalized in the second quarter of this year.

Hot Rates

Term with Living Benefits

We get a lot of questions about life products with either ltc or chronic illness benefits.  This is an area where production continues to grow year over year as consumers have started to look at alternatives to traditional LTC.  While most advisors are aware these riders are available on permanent products there are also a number of lower cost term plans that incorporate these types of benefits.  Call today to get a full list and product detail.

Sales Opportunity Downloads

Tuesday Tips – January 19th, 2015

Alerts

LFG Reprice

Lincoln National has announced a reprice for their LifeGuarantee UL that will take affect February 8, 2016.  Premiums for all cells will have either been reduced or will remain constant.  In particular rates have been improved in the 50+ market.  Call today for additional details.

Equitrust Certainty Select

Equitrust has announced it will be discontinuing the optional rider for the Certainty Select MYGA.  The rider will be discontinued February 1, 2016.  Applications must be at the home office by January 29, 2016 to still get the rider.  Call today for additional details.

Sales Opportunity

Advanced Lead Nurturing

When you generate a lead you try to set an appointment with the prospect.  If you’re not able to set an appointment then you drop them into your drip marketing bucket.  It’s no secret that the highest probability of setting an appointment is in the first 30 days after receiving the lead.  In addition to this the chance of setting an appointment increases with each contact you have with the prospect.  Available for download is our Supercharge Your Leads sales guide which shows you how to create additional non invasive contacts with a prospect to increase your appointment setting ratio.

Industry News

Interesting Stats From LIMRA

Two-thirds of women age 50 and older say they split financial decisions with their spouses, while fewer than half of men admit to sharing decisions.

For both women and men who are primary decision makers, only one-quarter have a formal retirement income plan.

Advisers who help their clients with retirement income planning have greater client satisfaction and loyalty.

Hot Rates

Voya Wealth Builder Plus

The Wealth Builder Plus by Voya is a competitive 8 year FIA designed for accumulation.  The product offers 4 crediting options with annual point to point caps up to 7.5%.  In addition to this product allows for flexible premiums and offers a nursing home rider as well.  Call today for additional details and state availability.

Please fill out the form below to learn more

Tuesday Tips – January 12th, 2016

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Alerts

MYGA Rate Increase

Both North American and American Equity have increased rates on their MYGA’s. Call today for an updated rate sheet and state availability.

MedAmerica Out of LTC Business

MedAmerica announced last week that they will be exiting the LTC marketplace effective February 15, 2016. MedAmerica cited economic conditions and the low interest rate environment as the reasons for the exit.

Sales Opportunity

Sales Tips

Prospecting still remains one of the biggest challenges advisors face. Available for download on our website is our 16 sales tips for 2016 guide. The guide includes 16 prospecting and marketing ideas to generate more prospects.

Industry News

Quantitative Easing

Between 2008-2015 the Fed bought over $4trillion in bonds to stimulate economic growth. US and Foreign banks currently hold $2.5 trillion at the Fed and are paid $34.5 million in interest per day.

Hot Rates

American Equity Choice Series

American Equity offers a competitive portfolio of accumulation focused FIA’s. The Choice series offers 6 to 10 year surrender options, multiple crediting options, and annual point to point caps as high as 5.25%. Call today for details and state availability.

Sales Opportunity Downloads

Tuesday Tips – January 5th, 2016

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Alerts

Mutual of Omaha GUL Reprice

Mutual of Omaha has repriced their GUL. In certain bands pricing has gone down and in others it has gone up. In addition to this they have extended the number of years the GRO rider is available which gives increased access to cash value. Call today for additional details and state availability.

Athene Raises Rates

Athene has increased rates on the TargetHorizon series and Benefit 10. Caps have increased and spreads have decreased on the TargetHorizon series and the rollup rate has increased on the Benefit 10. Call today for additional details and state availability.

Sales Opportunity

Social Security Maximization

Life insurance can potentially be a useful tool in maximizing social security income. Properly funding an accumulation life insurance product prior to triggering social security benefits can create a pool of cash that can be drawn from income tax free. This income could be taken in conjunction with social security income or in replace of social security income in order to defer triggering benefits in order to get a higher benefit. In addition to this the death benefit can provide a much needed death benefit in the event of one of the spouses passing away prematurely. Call today for additional details.

Industry News

Income Stats

According to the most recent numbers from the IRS, to be in the top 1% of income earners the magic number is $428,713. The top 1% took home 19% of the total AGI and paid in 38% of the total income taxes due. The bottom 50% earned just 11.5% of total AGI and paid in 2.78% of all income tax.

Hot Rates

North American Guarantee Builder

North American’s Guarantee Builder is a competitive FIUL that offers upside protection as well as guarantees. The product offers a full death benefit guarantee to age 120 in addition to annual point to point caps as high as 13.5%. In addition to this the product offers free chronic and terminal illness riders. Call today for additional details.

Please fill out the form below to learn more

Tuesday Tips – December 29th, 2015

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Alerts

Holiday Hours
Legacy Financial Partners will be closed 12/31/15 and 1/1/16 for the New Year holiday.

North American Rate Decrease
North is reducing current rates on several non marketed life products. Most of the products affected are GUL’s whose pricing is based off of guaranteed rates not current rates. Call today for a full listing of affected products.

Sales Opportunity

External Term Conversions
A potential source of new premiums are external term conversions. Several carriers allow a client to convert another carriers term plan to their permanent product. This can be a great opportunity when reviewing a prospect or clients current term coverage.

Industry News

$307 Settlement
J.P. Morgan has agreed to pay over 307mm stemming from allegations that J.P. Morgan didn’t disclose to consumers their preference to invest clients money into their own investment products.

Hot Rates

Signature Plus IUL
ANICO is rolling out a new FIUL on January 1st. The New product, Signature Plus IUL, offers competitive caps, multiple indices, and living benefits. In addition to this it offers an option C death benefit in addition to the standard A and B and also offers an interest bonus starting in year 11. Call today for details.

Please fill out the form below to learn more

Tuesday Tips – December 22nd, 2015

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Alerts

Holiday Schedule

Legacy Financial Partners will be closed 12/24/15 and 12/25/15 in observance of the Christmas holiday.

Rate Increases

Forethought and Equitrust have both increased rates on multiple products. Call for an updated rate sheet and additional details.

Sales Opportunity

Updated Rates

2016 is rapidly approaching. Available for download is our 2016 tax guide with updated rates for 2016.

Industry News

Fed Rate

Rates are going up. The federal reserve announced last week they will be raising rates incrementally over the course of 2016. Signaling a positive outlook on the economy.

Hot Rates

Legacy LibertyMark

The LibertyMark FIA series offered by Legacy Provides competitive upside potential with guaranteed growth. Seven and ten year surrender products are available that have the option of both up front and persistency bonuses. In addition to this the products write to age 85 and offer annual point to point caps as high as 6.75%. The products also offer a competitive minimum guarantee which is 1% on 100% of the premium instead of the standard 87.5%. Call today for additional details and state availability.

Alerts Downloads


Tuesday Tips – December 15th, 2015

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Alerts

Allianz Applications

Allianz has updated all of their applications for all products. Beginning January 1, 2016 they will no longer accept old versions of the applications. The new applications are currently available on the Allianz website.

Voya Introduces Orange Pass

Voya has launched a new streamlined simplified underwriting process called Orange Pass. This new program is available for applicants ages 16-50 and up to $500k in death benefit. Qualifying applicants won’t have to do lab work or exams and the application also has fewer questions than a traditional application. Call today for additional details.

Sales Opportunity

Reliving Your First Year In The Business

As we come to the end of the year many advisors will reflect on the year and what they want next year to look like. Creating consistent growth year over year within your practice isn’t easy and many advisors find that their business growth consistently remains flat. We have compiled a list of the top contributors to stagnant growth along with potential solutions. Call today to request your guide or visit our website.

Industry News

AIG Advisor Group

AIG has announced that it is entertaining offers for it’s network of independent broker dealers. The move is another step by AIG to focus on it’s core services.

Hot Rates

Athene Performance Elite

Athene’s Performance Elite series offers 10 and 15 year surrender period. With 4% and 7% up front bonuses. In addition to this the products offer optional liquidity riders which bump the bonuses to 9% and 12%. In addition to this the products offer a variety of options including annual point to point caps as high as 6%. Call today for details and state availability.

Please fill out the form below to learn more

Tuesday Tips – December 8th, 2015

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Alerts

American Equity Reminder

Effective December 31st American Equity will be lowering rates on their LIBR. In addition to this they will be discontinuing the Heritage Gold FIA on December 31st. To receive current rates, applications must be received in the home office by December 30th. Call for additional details and updated rates.

Athene Rates

Athene has raised rates on several of their products including the Perfomance Elite, Target Horizon. Call for an updated rate sheet and state availability.

Sales Opportunity

Beneficiary Reviews

Throughout a persons lifetime they will most likely make investments, purchase insurance, and acquire assets. While most individuals will monitor the performance of these assets one aspect that can get less attention is beneficiary designations. Marriage, death, divorce, children etc. can all impact who a prospect wants as beneficiary of their assets. Beneficiary reviews are a great non invasive way to get in front of prospects and point their attention to a topic that they might not have given much thought to but should. Available for download is a great beneficiary review guide.

Industry News

PBGC Premium Increase

Recently passed legislation included a provision to raise insurance premium for single employer pension plan sponsors. The increase an addition $4 billion to be paid to the PBGC through 2025.

Hot Rates

Table Shave

Normally I use this section to discuss an individual product but, we’ve had a lot of questions recently on what life insurance carriers offer table shave programs. Table shave programs allow a prospect who might have some health issues qualify for a better rate. So for example if a carrier offers a table shave from standard to table 3 if the client gets approved down to a table 3 the carrier will automatically bump the client up to a standard risk class saving them a significant amount of money. We have compiled a list of all of the carriers that have a table shave program just give us a call or send an email to request it.

Sales Opportunity Downloads