Tuesday Tips – July 25th, 2017
Allianz Product Changes
Effective August 1st Allianz will be implementing changes to some of their products. The 222, 360, and 365i products are all impacted and there will be reductions in bonuses and interest rates paired with increases to some fees. Call today to request a full breakdown on the changes. Applications must be at the home office by 7/31 to receive the current rates.
Athene Product Changes
Athene has announced that effective August 14, 2017 they will be discontinuing the Performance Elite 10 and 15 series of products in the following states, Minnesota, Montana, New Jersey, Oregon, Pennsylvania, and Washington. They will be rolling out a new Performance Elite 10 year product that will be available for sale in those states.
Insuring Income In Retirement
One of the biggest threats to income in retirement is the cost of health care and a chronic illness. There are a variety of products that provide coverage for LTC and Chronic illness. There are a number of nuances to these types of products and riders that can lead to challenges determining what makes the most sense for a client. Available for download is our LTC vs Chronic illness presentation which takes a straightforward approach to comparing and discussing the pros and cons of the various riders that are available.
Health Savings Accounts
Total assets in HAS’s have grown by 2,200% since 2006. The total amount in health savings accounts is expected to reach over $53 billion by the end of 2018.
Protective Indexed Choice UL
Protective offers a competitive IUL that provides a nice balance between death benefit guarantees and accumulation. The product is designed for the consumer base that values guarantees but also values cash accumulation in the event they want to bail out of the product or have some unforeseen situation happen. The product offers a 9.50% annual point to point cap on the S&P and also offers a variety of riders to customize the product to the clients needs including their ExtendCare Rider and Income Provider Option. Call today for additional details and state availability.