Tuesday Tips – October 21st, 2014
LibertyMark Rate Decrease
Legacy Marketing Group has announced a rate decrease on their LibertyMark fixed indexed annuity. The decrease takes effect October 29th and affects all products in the series. Applications must be at the home office by October 28th to receive the current rates. Call today for the update rates or application.
National Life Rate Decrease
National Life/LSW has implemented a rate decrease that affects their FIA portfolio. To request updated rates give us a call.
The Poor Mans Trust
When it comes to life insurance there are certain scenarios where a lump sum death benefit isn’t necessarily a good thing. One of the biggest concerns is that the beneficiaries might waste the money. A trust can be used to structure income payments using a death benefit but a simpler option is an income provider rider. Several insurance companies allow for payments of the death benefit in addition to a lump sum. Electing this rider will not only lower the cost of the life insurance but, most importantly it will give the insured control over how the money is paid out after their death. Call us today to get more information on the carriers that offer this option.
E Signatures More Prevalent
LIMRA released data from a recent survey that shows that 60% of insurance carriers use E applications as a means to submit business. In this digital age more and more insurance carriers are seeing a cost savings by using E Apps compared to paper applications.
One America FIA
One America has introduced a new asset base fixed index annuity. This unique product has an index engine and can triple the initial deposit to pay for qualifying long term care expenses. This can be a great solution concerned about LTC but also want liquidity and cash accumulation without any underwriting. Call today for more details.