Tuesday Tips – October 20th, 2015
Equitrust Rate Change
Equitrust has announced a rate decrease on several FIA products. The rate change takes affect October 23rd and applications must be received at the carrier by October 23rd to receive current rates. Call today for additional details and the updated rate guide.
Athene Commission Special
There is still 2 weeks remaining for Athene’s 1% commission special on the Target Horizon 10 and 15 FIA’s. The contest runs through October 31st, call today for additional details.
Power of Waiver of Premium
In the event a client becomes disabled not only is there an impact to their health but there is also a financial impact. Not only are there unplanned expenses but often times the client’s income goes down as well. This makes savings for things like retirement incredibly challenging. One potential solution to this is a cash value life insurance policy with a waiver of premium rider. In the event a client becomes disabled the insurance carrier will continue to fund the policy until retirement creating a tax free pool of money that can be used for supplemental retirement income.
Social Security Increase
There will be no social security increase for next year. In addition medicare premiums will increase for top earners.
If you’re selling indexed universal life insurance Columbus life’s Indexed Explorer Plus is a product to take a look at. The product offers multiple index options, chronic illness riders, and wil write down to $25,000.00 in face amount. In addition to this it offers a unique twist on the uncapped with a spread crediting strategy. Instead of applying the spread first and the client receiving all of the gains above that it applies the spread at a specified yield. So as an example the spread doesn’t kick in until after the product yields 8%. So if the market goes up 8% no spread is taken out. If the market goes up 13% then the client receives the 8%, the 4% spread is taken out above that and the client still receives the additional 1%. Call today for additional details and state availability.