Tuesday Tips – August 30th, 2016
Protective Lowering Rates
Protective has announced effective 8/29 they will be lowering rates on their term products. There will be an everage decrease of 1.5% across all term periods and for select preferred, preferred, and non tobacco rate classes.
Athene and Voya have announced rate decreases on their suite of FIA products. Voya’s rate decrease will take effect 8/31 and Athene’s rate decrease will take effect 9/3. Call today to get updated rate sheets.
Costs in Retirement
Most consumers don’t have any idea what the biggest costs in retirement will be. One thing they probably aren’t expecting is the percentage that taxes will make up of their costs in retirement. Planning properly and diversifying between taxable and non taxable cash flows in retirement is a key component of a sound financial plan. Available for download is a great infographic that breaks down costs in retirement that can be used to articulate the various costs that can impact a clients retirement plan.
A recent study by LIMRA found that sales of FIA’s could increase as much as 20% this year but, the DOL rule could cause a decrease in 2017 by as much as 35%.
American National offers a competitive GUL with rolling targets that has just got even more competitive. They are now offering a table shave down to a table 4 for clients up to age 70 for certain impairments. In addition to this they also offer a return of premium on their GUL. Call today to get additional information.