Tuesday Tips – May 23rd, 2017
LMG Income Rider
Legacy Marketing Group has announced that payout factors on the Income Freedom Rider will be changing. In general payout factors will increase at older ages and decrease at younger ages. In order to receive current rates applications must be in house by May 30, 2017. Call today for additional details.
Equitrust has announced that they will be transitioning to new annuity applications. The updated forms are currently available but old forms can be used until June 30, 2017.
No Cost Life Insurance
Many consumers have a larger need for life insurance during their working years but think they’ll need less in retirement. We have an insurance carrier that has a unique pricing anomaly. The GUL will allow a client to fund a 10 pay death benefit, let the product sit for 10 years then take distributions of all of the premiums paid and be left with a fully guaranteed reduced death benefit. Call today for details.
DOL Fiduciary Rule Will Move Forward
Labor Secretary Alexander Acosta announced Monday night that the fiduciary rule will go into force June 9th and that there are no plans for a delay. This leaves a lot of questions in the minds of advisors about how business will be transacted after that date. Legacy Financial Partners will be hosting a webinar discussing what this means, how business will change, and how to comply with the various nuances of the rule. Keep an eye out for a webinar invitation in the coming days.
AIG Secure Lifetime GUL 3
AIG offers a competitively priced GUL that is designed to be flexible for life’s what if’s. In addition to being low cost, it also offers a variety of riders including a chronic illness rider. What’s unique about this rider is that the client doesn’t have to have to have a life long chronic illness to trigger a claim. With the accelerated access solution the client can go on claim and if they recover can begin paying premiums again without having to pay any back premiums. Call today for additional details and state availability.