Tuesday Tips – January 16th, 2018


LMG Sunsetting Products

Legacy Marketing Group has announced that their partnership with F&G will be coming to an end February 18th 2018.  The decision was based on a change in F&G’s strategic decision.  Applications signed February 19th or later will be returned.

North American Contracting

North American has announced that it will be transitioning from a multiple relationship structure to a single relationship structure.  The transition will be implemented in March 2018 and what this means is that both life and annuity product lines will be with one distribution partner.

Sales Concept

Asset Repositioning

There are a variety of ways to position a clients assets in order to provide enhanced leverage, yield, and tax benefits.  The challenge is keeping up to date on all of the planning structures that are applicable to a clients situation.  Available for download is an advanced markets guide with a variety of in depth information on planning structures.

Industry News

Federal Reserve

The ED announced a profit in 2017 of $80.2 billion.  While this is less than the $91.5 billion in 2016 it is still more than the average of $23 billion prior to the financial crisis of 2008.

Hot Rates

Sentinel Personal Choice Annuity

Sentinel offers a highly competitive 5 year MYGA that boasts a 3.35% rate for most states.  In addition to this the product offers a variety of additional riders for a reduction in the credited rate.  Call today for additional details and state availability.

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American Equity Commission Change and LIBR Change
American Equity has announced some positive changes to their fixed index annuities and income rider options.  They have announced a new commission option that offers a higher upfront commission.  Advisors that like the lower upfront commission with two years of renewals will still be able to select that option if they prefer that.  In addition to this American Equity has adjusted their income rider options to be gender based.  Moving forward payouts will be different for males and females.  After running several scenarios we have found that this often results in a higher guaranteed income payout.  The new income rider does require new product training. Call today for details or to get a quote.

Equitrust Rate Change
Equitrust has announced a rate decrease to select fixed indexed annuities in their portfolio.  The change will go into effect August 27th.  Applications need to be into the home office no later than August 26th.  Equitrust has stated that they will accept a faxed copy on August 26th to hold rates as long as the original is received August 27th.  Call today to get an updated rate sheet.

Sales Opportunity

Trusted Optimized Producer System
We have officially rolled out our TOP System.  This project has been in development for the last year and is the only system of its kind in the industry.  This system was designed to position you as the most trusted advisor in your community, the most knowledgeable, and the most highly rated and reviewed.  Not only will this system build your brand but it will also generate a consistent stream of organic 100% exclusive client inquiries.  We are hosting a webinar on this August 26th at 11:00 cst.  Call today to get registered.

Industry News

Voya Announces Sale of Life Insurance Policies
Voya Financial has announced the sale of $100 billion of existing life insurance policies.  The sale includes roughly 170,000 inforce life insurance policies and will create around $200mm in capital.  The move was made to create cash, improve profitability, and continue to focus on retirement products.

Hot Rates

Symetra Survivorship Universal Life
Symetra has introduced a new competitive survivorship universal life policy.  The product is extremely well priced and is designed for lifetime guarantees.  In addition, it has competitive commissions and high targets as well as a $1mm premium limit so it’s great for 1035’s.  Call today to get a spec sheet and quotes.

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About the author

Legacy Financial Partners - Legacy Financial Partners is an independent and full service Life Insurance and Annuity FMO that provides specific marketing solutions to help their clients succeed. Using dynamic tactics, an extensive support network and progressive marketing options, Legacy Financial Partners provides unique and specific development strategies to their business partners.

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