Tuesday Tips – September 9th, 2014
Protective Adjusts Rates
Protective has adjusted rates on their custom choice universal life policy. Protective has significantly decreased rates on short term guarantees to the point that they will beat many term products for the same duration. This can be a great opportunity to get paid renewals, get better underwriting, and sell more permanent coverage. Call today to get quotes.
North American New Compensation Guidelines
North American has announced a change to their internal commission guidelines. Term exchanges will have commission paid out based off of the commission rate that was used on the base policy. Rollover amounts will be a 50% rate up to the increase in target premium.
Kiplinger recently posted a useful tool that has a breakdown state by state for taxes ranging from purchases to property taxes. Often times we focus on federal taxes when it comes to income planning but, state taxes can be a significant drain on a consumers assets. Click the link below to pull up the interactive map.
Stats On Millennials
Millennials are currently an underserved market. According to various surveys and studies 95% of millennials say that their financial security is very important to them. 64% lack life insurance with the most common objection being that it is too expensive. 10% have homeowners insurance and 13% have disability insurance.
F&G has announced a rate enhancement on their 5 year multi year guarantee annuity. The new rate takes affect September 15th and will be 3.35% for 5 years. This competitive rate will only be available on applications submitted using F&G’s IPAD app or E App on their website. Call today for details and state availability.