Tuesday Tips – November 22nd, 2016
LFP Holiday Schedule
Legacy Financial Partners will be closed Thursday November 24th and Friday November 25th in observance of the Thanksgiving holiday.
F&G MYGA Rate Special
F&G has announced a rate special on their 5 year MYGA. The promotion starts on November 28th and the rate will increase to 3.10%. Applications must be an E application and the minimum premium is $20,000.00 . Call today for additional details.
Policy Stacking with ROP
Policy stacking using gul products with rop and chronic illness rider can be a great solution for clients that have a higher death benefit need during their working years but think they won’t need as much coverage during retirement. By purchasing 2 policies that equal the death benefit need in retirement the client can trigger their return of premium feature and elect to either take the money and do what they want with it while continuing to pay premiums on their existing plan or take the lump sum and pay up the remaining life insurance policy and eliminate their insurance premiums in retirement. Call today to get a design run on this concept.
Voya Sunsetting Products
Voya has announced that effective December 30, 2016 it will be suspending all term products as well as the IUL-GDB product. Voya cited current market conditions including historically low interest rates as the reason for their departure from the term and GDB market.
Global Atlantic Fast Lane
Global Atlantic offers a competitive suite of term and IUL products. In addition to this they offer their fast lane program for accelerated underwriting up to $1mm of coverage. With the Fast Lane program the client can do a phone interview and potentially avoid having labs drawn. Call today for additional details