Tuesday Tips – July 19th, 2016

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LFP Closing Early

Legacy Financial Partners will be closing at 3cst on Friday July 22nd due to renovations.  LFP will reopen at normal business hours on Monday July 25.

F&G Rate Decrease

F&G has announced a decrease in caps and spreads for most products that takes affect August 5th.  In addition F&G has also announced that it will be dropping the rollup and bonus on the Prosperity Elite Series as well as the Safe Income Plus effective August 5th.  There is no rate lock for the rollup and bonus decrease so applications must be issue by August 4th to receive the current rollup and bonus.  Call today for details.

Sales Opportunity

Capital Transfer

Capital Transfer is the process of converting existing assets into a tax efficient format for wealth transfer.  Life insurance is a great tool for this.  We have a comprehensive guide that discusses how to transition a variety of assets and leverage them with life insurance in order to reduce taxes and increase legacy.  Call today to request your guide.

Industry News

Longevity Fears

A recent Allianz Life study found that while 93% of Americans think positively about living longer 70% of them feel financial un prepared for the prospect.

Hot Rates

Equitrust WealthPay Life

Equitrust’s WealthPay life is a simplified issue IUL designed to spread the tax burden of qualified assets and to increase the value of those assets to be left to heirs.  In addition the product offers competitive caps up to 9% and provides for chronic and critical illness.  Call today for additional details.

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Tuesday Tips – July 12th, 2016

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North American Rate Adjustment

North American has announced a rate decrease that will take affect July 19th.  In addition to this North American’s income rider will only be available on the RetireChoice in most states and not the additional product line.  Call today to request and updated rate sheet and rider availability chart.

Allianz Crediting Error

A couple of weeks ago Allianz announced that there was an internal error that overstated credited values on some clients that owned LifePro + iul policies.  Allianz has since announced that they have compiled a list of policyholders that either viewed the incorrect values on their website or received incorrect values via a policy statement.  You can contact allianz to see if any of your clients were impacted by this.

Sales Opportunity

Lead Magnets

Maybe people think of lead magnets in the context of digital marketing.  While this is where they are most prevalent they can also be applied easily and very inexpensively in more traditional formats.  For example  hanging a flyer in a golf clubhouse offering a round of golf for completing a financial review.  LFP has put together a complete guide with flyers and ideas call today to request.

Industry News

New FINRA Chief Executive

FINRA has announced Robert Cook will be replacing Richard Ketchum as chief executive of FINRA.  Most recently Mr. Cook was a partner at an international law firm and from 2010-2013 was a director of the division of trading and markets for the SEC.

Hot Rates

Banner Appcelerate Program

Banner has introduced an accelerated underwriting program for clients age 20-50 who are looking for a death benefit of 100k-500k.  The agent can complete an application and if the phone interview, mib, mvr, and prescription check come back ok the client is approved without a medical exam.  If not they go to traditional underwriting.  This program is a great way to get healthy clients coverage quicker with less hurdles.  Call today for details.

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Tuesday Tips – July 5th, 2016

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Rate Adjustments

With treasury rates continuing to drop several carriers have announced rate decreases for July on their annuity portfolios. Call today to get updated rates for all carriers.

Global Atlantic Update

Beginning today Global Atlantic will be launching a new 1035/Transfer form. For the time being Global Atlantic will still accept the older Forethought Version of the form and hasn’t set a date yet to fully transition from the old form.

Sales Opportunity

Behavioral Finance

Unfortunately for many consumers their decisions in regard to investing can be heavily influenced by emotion versus logic. One of the most frustrating things for an advisor is to make a sound recommendation only to have the client only implement part of the plan or do something different altogether. We’ve put together a powerful 1 page piece that illustrates the risk of making emotional decisions when it comes to investing. Call us today to request it.

Industry News

Genworth SIFI Designation Rescinded

The FSOC on Thursday rescinded GE Capital’s SIFI designation. One of the main contributing factors was GE’s decision to divest over $150 billion of its financial services business.

Hot Rates

Lincoln National Term

Lincoln National has recently rolled out their TermAccel level term product. This simplified application process uses an E app and doesn’t require any APS’s. The program is designed for prospects without a complex medical history that are 30-50 looking for 250k-500k of coverage. Lincoln also has available their fully underwritten LifeElements term plan which is highly competitive as well. Call today to get quotes.

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Tuesday Tips – June 28th, 2016

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4th of July

Legacy Financial Partners will be closed Monday July 4th in observance of Independence Day.

Athene Lowering Rates

Athene has announced a rate decrease for its Performance Elite, Target Horizon, and MYGA product series.  In order to get current rates applications must be received by July 1, 2016 4pm CT.  Call today to get an updated rate sheet.

Sales Concept

Annuity Maximization

Annuity maximization is an efficient asset repositioning strategy that can be used for annuities where all or a portion are earmarked to be left to beneficiaries.  Or for annuities that have been underperforming.  By repositioning funds from the annuity into life insurance the owner of the annuity can ensure that there is a pool of tax free funds at death to offset any income tax that might be due at transfer.  In addition to this if the annuity is underperforming liquidating it to fund the life insurance policy can result in a significantly larger amount of money to be transferred to the next generation.

Industry News

Health Spending in Retirement

A recent HealthView Services study found that a 65 year old couple retiring in 2016 can expect that their total healthcare spending during retirement will exceed $377,000.

Hot Rates

Equitrust MarketBooster

Equitrust’s MarketBooster FIA is a competitive 9 year product that offers a 7% premium bonus with competitive caps and several index options.  The product is designed for accumulation but also offers an optional income for life rider.  Call today for additional details.

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Tuesday Tips – June 21st, 2016

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F&G MYGA Rate Special Ending

F&G has announced that their 3.15% myga rate special will be ending on June 24th.  Applications must be submitted electronically.

AIG Updating Replacement Forms

AIG has begun updating replacement forms this week for several states.  Make sure to call prior to taking an application to make sure your state isn’t affected.

Sales Concept

Resources For Marketing

Legacy Marketing Group is currently running a promotion that will reimburse you at a rate of .25% for your marketing costs.  In addition production also qualifies you for marketing reimbursement with LFP and for our Enhanced Tactical Marketing Platform.  Minimum production amount is 250k of qualifying annuity premium.  Call today for additional details.

Industry News

Social Security and Inflation

Unless inflation begins to pick up 2017 may end up being another year without a cost of living increase for social security recipients.  If this happens it would be the 4th time since 2010.

Hot Rates

Libertymark 10 Plus

Legacy Marketing Groups LibertyMark 10 plus is a competitive 10 year product that offers a 5% upfront bonus as well as a 10% persistency bonus in year 10.  In addition to this it offers several index options and not just the S&P.  It also offers a strong minimum guarantee basing the growth off of 100% of the funds instead of 87.5%.  Call today for additional details and state availability.

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Tuesday Tips – June 14th, 2016

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Updated North American Allocation Forms

North American has updated their annuity allocation forms for several products. Call today to get updated forms for your application packets.

Annuity Awareness Month

June is Annuity Awareness Month and LFP has a wealth of resources available to help market to and educate prospects and clients about the benefits of annuities. Call today to learn how we can help.

Sales Concept

Generational Behavior

Do you think about money the same way your parents did? Probably not, every generation has its different nuances whether it’s in regard to saving or in how they interact with various forms of marketing. Available for download is our Multi Generational Marketing Guide which discusses each generation and how to effectively market to them.

Life Insurance Sales

A recent survey found that 52% of advisors don’t feel like they’ve had success with life insurance advice. Identifying the right prospect, uncovering the need, and framing the solution are all key components to making your life insurance sales soar. LFP has resources and training available that address these 3 key areas and will make you a life insurance rock star. Call today for additional details.

Hot Rates

Allianz Life Pro +

Allianz recently revamped their Life Pro + IUL and has rolled out several enhancements. Costs were lowered and the option for a convertible term rider was added. In addition to this a 15% interest rate bonus was added to the product starting in year 11. Currently the product offers some of the highest cash accumulation and income streams in the IUL space. Call us today for additional details.

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Tuesday Tips – June 7th, 2016

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F&G MYGA Rate Special Begins

For a limited time F & G is offering a 3.15% rate on their 5 year MYGA. Applications must be done electronically. Call today for additional details and to make sure you are up to date on product training.

Great American Rate Decrease

Great American is reducing rates on the Safe Return and American Valor 10 effective today. Call today to request an updated rate guide.

Sales Opportunity

Summer Slump

Many advisors are wary of the summer. The summer can be a down period for an advisor that hasn’t planned properly. In response to this we have made our summer slump sales kit available for download on our website. The kit has over 20 low or no cost ideas to help improve your marketing during the summer months. Call for additional details.

Industry News

Boomer Statistics

A recent article by the Motley Fool revealed 5 interesting statistics about boomers facing retirement

1. 59% rely heavily on social security
2. 45% have no retirement savings
3. 30% have stopped contributing to retirement accounts
4. 44% of adults aged 65 and older have sizable levels of debt
5. 30% have postponed their retirement plans

Hot Rates

Symetra Gul

Symetra offers an incredibly competitive GUL. The products has a free chronic illness rider that will advance up to 100% of the death benefit as well as an additional return of premium rider. In addition to this Symetra is extremely competitive on underwriting and will even underwrite HIV positive clients. Call today for additional details.

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Tuesday Tips – May 31st, 2016

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Athene Lowering Rates

Athene has announced that it is lowering rates on its Ascent Pro, Performance Elite, and TargetHorizon product lines. The rate drop takes effect June 4th and applications must be in house by 4 cst on Friday June 3rd to receive current rates. Call today for additional details.

F&G MYGA Special

F&G will begin running a MYGA special June 6th. For a limited time the Guarantee-Platinum 5 will offer a 3.15% rate. Applications must be an E application. Call today for more information.

Sales Concept

Tax Mitigation Utilizing Life Insurance

Often times cash value life insurance is used to generate a tax free income stream in retirement for supplemental income. Typically a static income stream is illustrated during retirement. An alternative strategy can be to position life insurance as a tax advantaged safe money bucket instead of an income stream. This bucket is designed to mitigate risks in retirement such as increased taxes, chronic health issues, and death. In retirement by drawing on the bucket strategically the client can influence what tax bracket they’re in as well as shelter their social security income from taxation.

Industry News

Boomers and Retirement

According to an Insured Retirement Institute study only 43% of boomers say they’re happy with their financial situation. This is down from 65% in 2014 and 77% in 2013.

Hot Rates

North American Rapid Builder IUL

North American’s Rapid Builder IUL can be a great tool to house cash for a client that wants liquidity and the potential for higher yields compared to other safe money alternatives. The product can be funded by either a single premium or flexible premium, offers a free chronic illness rider, and has annual point to point caps as high as 12%. Call today for additional details.

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Tuesday Tips – May 24th, 2016

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Lincoln National Term Accel

Lincoln National has just introduced a new term product with streamlined underwriting. It writes ages 30-50 up to 500k in death benefit. In addition the client can qualify for preferred plus rates without lab work. Call today for additional details.

Life Pro + Version 7

The new Life Pro + version 7 officially launches today. The new version offers a convertible term rider, lower policy charges, and an enhanced persistency bonus to generate higher cash values. Call today to request a quote and get additional product details.

Sales Concept

Business Valuations

Most business owners have an idea in mind of what their business is worth. The reality is that the true number is always different. Talking to a business owner about doing a business valuation is a great non invasive value add that allows you to uncover additional planning opportunities that the business owner wasn’t aware of. We have multiple resources to provide complimentary business evaluations for your business owner clients. Call today for additional details.

Industry News

How Much To Save For Retirement

A recent study by New York Life found that 75% of people over age 40 don’t know how much of their retirement savings they can spend each year and not outlive their income. It also found that most Americans aren’t saving enough for retirement.

Hot Rates

Voya Quest Series

Voya has rolled out their Quest series of FIA’s. The Quest series offers 5, 7, and 10 year surrender period options with competitive caps and a 6% premium bonus on the 10 year product. The series also has a competitive optional income rider that rolls up at 6.5%. Call for additional details and state availability.

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Tuesday Tips – May 17th, 2016

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SPAM Alert

F&G just issued a bulletin that some licensed agents may be receiving emails stating that they owe money to F&G and that they need to download an attachment and pay or they will be subject to legal action. These are fraudulent emails and if you receive one you should notify F&G.

Global Atlantic Training Reminder

Reminder that in order to sell FIA’s through Global Atlantic’s subsidiaries you must complete updated product training even if you completed it prior to the launch of the BlackRock Diversa Volatility Control Index.

Sales Opportunity

Income Rider Maximization

Many clients elect to take a joint payout option when purchasing an income rider so that income is guaranteed over the lives of both spouses. A potentially better strategy to increase income and reduce taxes is incorporating life insurance within the income plan. By electing the single life payout and taking the difference between that and the joint payout you can fund a life insurance policy. At the death of the first spouse the tax free death benefit can be used to continue the income stream for the rest of the surviving spouses life. This strategy can be especially impactful on distributions of qualified funds as the benefit from the life insurance policy will only be partially taxable if dumped into a life only SPIA as opposed to 100% taxable over both clients lives. Call today to see this concept illustrated.

Industry News

Metlife Pays Penalty

Metlife was served a penalty of $25mm in regard to compliance failures for clients who were switched from one variable annuity to another that weren’t in the clients best interest.

Hot Rates

AIG Max Accumulator + IUL

AIG has introduced a new competitive IUL with some unique features. The policy offers a lifetime income rider that will guarantee an income for the rest of the clients life. In addition to this it has the option for annual adjustments to increase income over the clients life. It also offers a chronic illness rider that doesn’t require the condition to be permanent and has a max benefit pool of $3mm. Call today for additional details.

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