Tuesday Tips – August 4th, 2015
Minnesota Life Product Change
In addition to the change in illustrate rates that will take affect for IUL’s September 1st of this year Minnesota Life is making an additional change to their IUL portfolio. They will now no longer allow participating loans in the first 5 years of the policy. This change will take affect August 22nd. Call for additional details.
Athene Target Horizon Series
Athene has announced changes to the Target Horizon 10 and 15 indexed annuity products. Changes include a reduction in bonus, increase in caps, and increase in lifetime income payouts. In addition the products will be sunset in a few states as well. Changes will take affect Augus 7th. Call for additional details and state availability.
Legacy Financial has launched a sales contest that will run from August 1st through September 30th. There will be prizes for qualifying as well as for most premium submitted and most applications submitted. The top prizes are 2 regular season tickets to any sporting event up to $1,000.00 or 2 roundtrip airline tickets up to $1,000.00 value. Call today for additional details.
The Federal Reserve has slightly upgraded is economic outlook although no mention was made in regard to increasing interest rates.
Forethought Launches New Products
Forethought has launched 2 new fixed index annuities. The ForeFreedom Savers is designed for accumulation and offers 5 different crediting strategies. The product is on a 10 year chassis and offers free withdrawals starting in year 2. The ForeSpending Select on the other hand is designed for income distribution and offers multiple options depending on a clients scenario. The client can elect to get a 7% premium bonus and guaranteed income or waive the premium bonus in favor of higher caps and increased income payout factors. Call today for additional details and state availability.