Tuesday Tips – December 6th, 2016
LSW Raising Rates
Effective December 1st LSW has raised rates on several of their FIA products. Rates increases ranged from .25bps-.50bps. Call today for additional details.
Columbus Life Rate Decrease
Columbus Life has announced that effective January 1, 2017 they will be dropping credited interest rates on all new UL sales by .10bps. In addition to this they are implementing a rate decrease of .20bps for several in force blocks of business. Call today for additional details.
We have recently discovered a pricing anomaly on one of our guaranteed death benefit products. In 10 pay scenarios the product is offered by an A+ insurance carrier and is dramatically cheaper than any other GUL under this funding structure. In addition to this the product has high targets and cash value. Call today for additional details.
Per Diem Limitations
The IRS has recently announced upcoming changes to the 2017 per diem limitation on payments for chronic illness riders. The current limit is $340.00/day. The per diem limit for 2017 will be raised to $360.00/day. This means clients that own a life insurance policy will be able to access more tax advantaged cash in the event of an LTC scenario.
Athene Ascent Pro
For clients looking for short term products with high upside potential the Athene Ascent Pro 5 & 7 can be a great fit. The 5 and 7 year products offer annual pt to pt caps of 3.5% and 4% respectively. In addition to this they offer monthly pt to pt caps as high as 1.75% and an uncapped par rate strategy at 95%. Call today for details and state availability.