Tuesday Tips – March 29th, 2016
Legacy LegendMark Rate Update
Legacy has announced a rate decrease for their LegendMark product line. The rate decrease will take effect April 2, 2016. Call today to get an updated rate sheet.
American Equity Rate Adjustment
American Equity has announced a rate decrease that will take effect April 5, 2016. Several products are impacted and applications must be at the home office in good order by April 4th to take advantage of the current rates. Call today for additional details.
Policy Stacking with ROP
Many individuals have a higher need for life insurance during their working years and at retirement may need less. Term insurance isn’t a good solution for someone that thinks they will need coverage for the rest of the life. So several life insurance companies offer a return of premium feature on their gul plans. By taking out 2 plans when the client is younger and healthy they can get the higher death benefit they need, trigger their return of premium at retirement then pay up the remaining policy so they have no life insurance premiums in retirement but still have a death benefit. This concept can be leveraged even further by incorporating a product that has a chronic illness or ltc rider on it as well. Call today for additional details on this strategy.
A recent Wells Fargo Survey found that 40% of respondents expect stock market volatility to persist. It also found that volatility is “clearly starting to wear on investors and only 36% of respondents expressed confidence in the market in the first quarter, down from 43% in the previous quarter.”
ANICO Signature Guarantee UL
ANICO’s Signature Guarantee UL offers competitive pricing for clients interested in a low cost GUL. The product has a dial a guarantee structure that allows the client to guarantee the death benefit from 95-121 and also offers a guaranteed cash out rider. Clients can get 65% of their premiums back in year 15 and 100% of their premiums back in years 20 and 25. Call for additional details and state availability.