Tuesday Tips – October 11th, 2016
AIG Rate Increase
AIG has announced that there will be a rate increase on their Lifetime GUL 3 effective October 17th. The average premium increase will be 1%-5% depending age, underwriting class, etc. Full details will be available on the 17th.
Great American Discontinuing Rewards
Great American has announced that it will be discontinuing its Great American Partner Points program effective December 31, 2016. The move was motivated by the Department of Labor’s new guidelines surrounding incentive programs.
Sequence of returns can dramatically impact a clients income in retirement if they are drawing off of an asset tied to the market. One potential solution to this is incorporating cash value life insurance as a side fund that can be drawn upon in years where the market is negative. This strategy can help to mitigate the impact of negative returns by allowing the funds to rebound after a market decline. Call today to request a complimentary sales guide.
Over Spending in Retirement
According to a recent Employee Benefit Research Institute study, nearly half of all retirees increase their spending in the first two years of retirement. All the more reason for a consumer to have an advisor that can assist with a plan for retirement.
Global Atlantic Promotion
For a limited time Global Atlantic is running a “Free Upgrade” campaign. Through December 31, 32016 if an applicant is approved at standard nonsmoker or standard smoker they will automatically get bumped to preferred and if they are approved at preferred nonsmoker they will automatically get bumped to premier nonsmoker. Global Atlantic offers a competitive suite of life insurance products with an emphasis on the IUL space. Call today for additional details.