Tuesday Tips – June 27th, 2017
Reminder: North American MYGA changes effective 6/27/17
We’ve split out the product by guarantee period, retiring the “II” and listing the guarantee period year # after the name. Re-Entry Change – Upon expiration of the guarantee period, re-entry will only be allowed into the same guarantee period. New Business Process Change – As of 6-27, MYGA business, commissions and credited rates will be based on application signed date rather than application received date. Commission Change – Some MYGA commissions are changing; please refer to your updated schedule available 6-27
Many times when a consumer buys a financial product, the policy gets put in a safe place and is never looked at again. Beneficiary reviews are a great opportunity to make sure the prospect’s plans are up to date with their current intentions as well as uncovering new potential sales. LFP has put together a beneficiary kit with a prospecting letter for your use in this area. Call today to request your Beneficiary Review Kit!
Senate Bill Could Add 22 Million to 2026 Uninsured Total According to CBO
The Senate’s new Better Care Reconciliation Act bill might have roughly the same effect on the number of people with health coverage as the health bill the House passed in May. Analysts at the Congressional Budget Office have published figures supporting that prediction in a new analysis of the BCRA bill. A copy of the analysis is available for download.
Sagicor Single Premium Indexed Whole Life
Sagicor has an outstanding single premium product that is perfect for clients who are interested in wealth transfer, limited underwriting, liquidity and great cash growth potential. This product offers a 10% up front bonus as well as two strong indexing strategies to bolster the cash value growth. There is also a free rider that allows for accelerated benefits due to chronic or terminal illness. In addition to all of this, many cases can be approved through underwriting in a matter of minutes with no need for exams. Call today to get your agent guide as well as quotes for any prospects who are a good fit!