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.

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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.

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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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Tuesday Tips – May 30th, 2017

Alerts

DOL Webinar 6/1

Legacy Financial Partners will be holding a webinar on June 1st at 10:00am cst to discuss how business will change after June 9th. We will be discussing how to comply with the rule, adjustments to sales process, and what additional forms will have to be filed. In addition to this we will provide a DOL compliance guide. If you sell FIA’s or life insurance that is funded by qualified funds this is a can’t miss webinar.

Click here to register.

Athene Product Distribution

Athene will be pulling the Ascent Accumulator and Ascent Pro 7 and 10 FIA series from the independent IMO channel effective June 12th. Applications for these products but be in to Athene by 4 pm cst on June 9th. Call today for additional details.

Sales Concept

Life Insurance As A Contingency Bucket

As an individual enters retirement it is important to have a nest egg to live off in retirement. It is equally important to make sure that the retirement bucket is protected through the use of a contingency bucket. The contingency bucket is designed to make sure that unexpected life events don’t cause the consumer to liquidate their retirement bucket too quickly. Cash value life insurance with living benefits can be a great solution for the contingency bucket. If an ltc situation occurs the death benefit can be advanced. If there is a critical illness several products are available for death benefit advancement as well, and if nothing happens the client can let the death benefit pay out when they pass or access the cash value. Call today for additional details.

Industry News

Fidelity & Guaranty Life to be Acquired

It was announced last week that CF Corp has agreed to acquire F&G Life. The estimated value of the deal is $1.8 Billion.

Hot Rates

Equitrust WealthPay Life

The WealthPay Life product Is a Non Mec single premium life policy funded internally with a SPIA. The product offers terminal and chronic illness riders and is designed for accumulation. The product offers annual point to point caps as high as 9% and monthly point to point caps as high as 3%. Call today for additional details.

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Tuesday Tips – May 23rd, 2017

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Alerts

LMG Income Rider
Legacy Marketing Group has announced that payout factors on the Income Freedom Rider will be changing. In general payout factors will increase at older ages and decrease at younger ages. In order to receive current rates applications must be in house by May 30, 2017. Call today for additional details.

Equitrust Applications

Equitrust has announced that they will be transitioning to new annuity applications. The updated forms are currently available but old forms can be used until June 30, 2017.

Sales Concept

No Cost Life Insurance

Many consumers have a larger need for life insurance during their working years but think they’ll need less in retirement. We have an insurance carrier that has a unique pricing anomaly. The GUL will allow a client to fund a 10 pay death benefit, let the product sit for 10 years then take distributions of all of the premiums paid and be left with a fully guaranteed reduced death benefit. Call today for details.

Industry News

DOL Fiduciary Rule Will Move Forward

Labor Secretary Alexander Acosta announced Monday night that the fiduciary rule will go into force June 9th and that there are no plans for a delay. This leaves a lot of questions in the minds of advisors about how business will be transacted after that date. Legacy Financial Partners will be hosting a webinar discussing what this means, how business will change, and how to comply with the various nuances of the rule. Keep an eye out for a webinar invitation in the coming days.

Hot Rates

AIG Secure Lifetime GUL 3

AIG offers a competitively priced GUL that is designed to be flexible for life’s what if’s. In addition to being low cost, it also offers a variety of riders including a chronic illness rider. What’s unique about this rider is that the client doesn’t have to have to have a life long chronic illness to trigger a claim. With the accelerated access solution the client can go on claim and if they recover can begin paying premiums again without having to pay any back premiums. Call today for additional details and state availability.

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Tuesday Tips – May 16th, 2017

Alerts

Great American Rate Decrease

Great American is reducing rates on the FlexMax series of FIA products effective May 21st.  Applications must be signed by Saturday, May 20th in order to receive the current rates.  Call today for additional details.

National Western Raises Rates

National Western has increased rates on their portfolio of annuities.  They are now offering fixed interest rates as high as 3.35% and annual point to point caps as high as 7% call today for additional details.

Sales Concept

Consumer Protection of LTC

Despite what retirees envision they’ll be spending their money on in retirement the two biggest expenses in retirement are health care and taxes.  LTC insurance can act as a wedge to reduce some of those expenses.  Unfortunately most consumers don’t quite understand what LTC is and how it can be a benefit.  Available for download is a guide that discusses common misconceptions consumers have about long term care.

Industry News

FINRA Fines Increased

Total fines imposed by FINRA in 2016 rose to $176mm.  This number was almost double from 2015 according to law firm Eversheds Sutherland.  The increase was attributed to FINRA increasingly using fines of $1mm or more.

Hot Rates

National Western Ultra Classic

The Ultra Classic is a competitive 13 year product that is designed for accumulation as well as income distribution.  The product is a 5 X 5 and can be a great option for the second bucket in a 3 bucket strategy.  It also offers multiple index options including an annual point to point cap of 7% with a .50 annual charge.  The product also offers 10% free withdrawals starting in year 2 that can accrue up to 50%.  Call today for additional details and state variations.

Sales Concept Downloads

Tuesday Tips – May 9th, 2017

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Alerts

F&G Repackaging

As announced a few weeks ago F&G has implemented updates to the Safe Income Plus, Performance Pro, and Prosperity Elite series as of May 8th.  These changes have also caused an adjustment to the applications.  Call today for details.

Athene Rate Decrease

Effective May 13th Athene will be reducing rates on their Maxrate series as well as their Ascent Accumulator series.  Applications must be received in good order by May 12th in order to receive the current rates.  Call today to get an updated rate guide.

Sales Concept

Disability Awareness Month

May is Disability Awareness Month many people don’t consider the impact a disability can have on themselves and their family.  Principal has introduced a simple interactive tool that illustrates the financial impact of not being able to work and provides solutions on how to insure that risk.  Call today to request your download link.

Industry News

Interesting Stat

In a recent survey by LIMRA and Life Happens 70% of respondents stated they would be more inclined to buy life insurance if there was less medical testing.  As a reminder, more and more companies are moving to accelerated underwriting.  You can now get preferred best rates up to $1mm of death benefit with only a phone interview required of the client.  Call today for additional details.

Hot Rates

Lincoln National Term Accel

Lincoln National offers a competitively price term product that is eligible to any of their permanent products.  It also offers accelerated underwriting allowing consumers age 18-60 to apply for up to $1mm of death benefit without the need for an exam and labs.  Call today for additional details.

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Tuesday Tips – May 2nd, 2017

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Alerts

Global Atlantic Increasing Withdrawal Rates

Effective May 1, 2017 Global Atlantic is raising withdrawal rates on the Choice Income and Income 150+ FIA’s.  The increase is .25bps.  Call today for additional details.

AIG Rate Decrease

Effective May 1, 2017 AIG has reduced rates for various premium bands on their portfolio of FIA’s.  Most of the reductions are around .25bps.  Call today for an updated rate sheet.

Sales Concept

Chronic Illness vs LTC

Chronic illness and LTC riders have become a very popular option to add to a life insurance policy.  These riders can help increase sales by offering more value to the client.  The other side of the coin though, is that many consumers and some agents don’t understand the different formats for advancing the death benefit which can mean a client thinks they’re buying one thing and are actually getting another.  Available for download is a comprehensive guide that discusses the differences between LTC and Chronic illness riders.

Industry News

Shutdown Avoided

Congress has agreed to a $1 trillion plus budget that would fund the government through September of this year.  Details are still rolling out on what adjustments have been made and the bill will need to move through both houses before Friday.

Hot Rates

Athene Performance Elite Series

Athene’s Perfomance Elite series of FIA’s offers a variety of options for individuals looking for either accumulation or guaranteed lifetime income.  The product series offers a range of bonuses from 4% to 12% as well as participation rates as high as 135%.  The product also offers enhanced liquidity, if a client doesn’t take a 10% free withdrawal they can accrue up to 20%.  In addition to this the product offers multiple income rollup options.  Call today for additional details and state variations.

Sales Concept Downloads