Tuesday Tips – June 6th, 2017


North American Commission Changes

As part of North American’s process to comply with the DOL Fiduciary Rule’s June 9th applicability date, they are changing their commissions to create better consistency with their product types. Call us for your updated commission schedule. Note: Applications received June 8th or prior will receive the old commission rates

Annuity Forms Update

Due to the implementation of the DOL Fiduciary rule, carriers will be updating some of their application forms, effective June 9th. Make sure to contact your marketer to get the most current application packets on or after June 9th!

Sales Concept

The Value of Living Benefits on Term Insurance

Term insurance can be an affordable way to obtain temporary death benefit protection. Most consumers purchase term based on the lowest premium available with a reputable company, and the focus is soley on the death benefit. With that being said, coverage for chronic and critical illness has come more in to focus in the life industry over the last several years. Clients have more interest in policies that can protect against a premature death, as well as providing living benefits, than at any other time in our industry’s history. Legacy Financial Partners works with several carriers that offer term coverage with living benefits. If you have a client that is shopping term insurance like a commodity, be sure to talk to them about the accelerated benefits that are now available with several carriers!

Industry News

Bielen New CEO of Protective Life

Richard Bielen is preparing to take over as the chief executive officer of Protective Life Corp. July 1. John Johns, the current CEO, will become the company’s executive chairman, the company said last week. The Birmingham, Alabama-based insurer is a subsidiary of Tokyo-based Dai-Ichi Life Holdings Inc. Dai-Ichi Life acquired the company in 2015. Johns, 65, has been an executive at Protective Life since 1993. He succeeded Drayton Nabers Jr. as the company’s CEO in 2002. Johns has served as chairman of the American Council of Life Insurers, and he helped lead a campaign for the University of Alabama at Birmingham that raised $1 billion. Bielen, 56, has been an executive at Protective Life since 1991. He became the company’s chief investment officer in 2002. He took over as the chief financial officer in 2007. He became president and chief operating officer in 2016. Since 2016, he has run the company’s life and annuity business. Protective Life has about $75 billion in assets.

Hot Rates

AIG Power 10 Protector

AIG has a strong 10 year FIA product that offers great upside growth potential. This is a 10 year annuity with a 10% decreasing surrender charge as well as the standard 10% free withdrawal privilege. The Power 10 Protector offers an annual point to point cap of 5.1% for deposits over 100k and also has 2 uncapped options tied to the ML Strategic Balanced Index, with low spreads. There is also a separate version of this product that offers a strong income rider, if desired. This rider has a 7% rollup for 10 years, and offers competitive payout percentages. Call today for a quote!

Please fill out the form below to learn more

Tuesday Tips – May 30th, 2017


DOL Webinar 6/1

Legacy Financial Partners will be holding a webinar on June 1st at 10:00am cst to discuss how business will change after June 9th. We will be discussing how to comply with the rule, adjustments to sales process, and what additional forms will have to be filed. In addition to this we will provide a DOL compliance guide. If you sell FIA’s or life insurance that is funded by qualified funds this is a can’t miss webinar.

Click here to register.

Athene Product Distribution

Athene will be pulling the Ascent Accumulator and Ascent Pro 7 and 10 FIA series from the independent IMO channel effective June 12th. Applications for these products but be in to Athene by 4 pm cst on June 9th. Call today for additional details.

Sales Concept

Life Insurance As A Contingency Bucket

As an individual enters retirement it is important to have a nest egg to live off in retirement. It is equally important to make sure that the retirement bucket is protected through the use of a contingency bucket. The contingency bucket is designed to make sure that unexpected life events don’t cause the consumer to liquidate their retirement bucket too quickly. Cash value life insurance with living benefits can be a great solution for the contingency bucket. If an ltc situation occurs the death benefit can be advanced. If there is a critical illness several products are available for death benefit advancement as well, and if nothing happens the client can let the death benefit pay out when they pass or access the cash value. Call today for additional details.

Industry News

Fidelity & Guaranty Life to be Acquired

It was announced last week that CF Corp has agreed to acquire F&G Life. The estimated value of the deal is $1.8 Billion.

Hot Rates

Equitrust WealthPay Life

The WealthPay Life product Is a Non Mec single premium life policy funded internally with a SPIA. The product offers terminal and chronic illness riders and is designed for accumulation. The product offers annual point to point caps as high as 9% and monthly point to point caps as high as 3%. Call today for additional details.

Please fill out the form below to learn more

Five Reasons Advisors Should Use Facebook

Marketing Corner – Thursday May 25th, 2017

In the thirteen years or so years since its creation, Facebook has developed from a social connection tool to a digital giant, encompassing more than just status updates and friend requests. Now it is a hub for an endless stream of information, social sharing, commerce, and advertising. Even as Facebook has grown, many businesses—especially financial advisors—have looked at the platform with skepticism. Is it relevant for my business, you may be asking yourself. Just a few years ago, our attitude may have been that Facebook can’t hurt an advisor’s business, but it’s not the most important marketing activity. But now, a business page and Facebook activity are essential for advisors. Here are five reasons why.

Boomers Are There

Surveying social media usage, the Pew Research Center found that Facebook was the most used platform for those aged 50-64 and those aged 65 and older. While this usage tracks with other age divisions, the difference from Facebook to other platforms is greater with those 50-64 and 65 and older than other ages. This suggests that while overall, on average, all generations use Facebook more than other platforms, Facebook is more relevant to older Americans.

Another Place To Leverage Content

A good content strategy can help you connect with consumers, boost your SEO ranking, and keep you in the minds of your client base. Facebook gives you a direct way to do this. In addition to distributing content through email newsletters, blog posts, and other social media platforms, cross-post on Facebook. Adapt pieces for the layout and features Facebook provides.

Affordable And Effective Digital Marketing Opportunities

All digital marketing has a learning curve, and Facebook’s Ad Manager is no different. But the sometimes confusing and tricky platform provides a relatively affordable option for marketing your services and boosting your content. With extremely detailed audience filters, you can target a wide range of demographics.

A Well-Rounded Business Page Helps With Consumer Confidence

Your business Facebook page may be the first thing consumers see relating your business. Or they may be driven to there when doing research about your services. A fully-fleshed out page, with good visual elements, recent posts, and complete business profile information can signal to consumers that you are trustworthy and legitimate. Avoid low-res images and out-of-date information.

Done Properly, Facebook Activity Doesn’t Take Much Time 

Advisors often think that a good digital outlay will consume a great deal of time. While you should regularly commit some time for social media activity and content strategy, once you have learned the lay of land, so to speak, the time you spend should become minimal. And the best part? Aside from display ads and boosted posts, it’s free.

Complimentary Prospecting Letters

Fill out the form below to receive
your complimentary copy.

Tuesday Tips – May 23rd, 2017


LMG Income Rider
Legacy Marketing Group has announced that payout factors on the Income Freedom Rider will be changing. In general payout factors will increase at older ages and decrease at younger ages. In order to receive current rates applications must be in house by May 30, 2017. Call today for additional details.

Equitrust Applications

Equitrust has announced that they will be transitioning to new annuity applications. The updated forms are currently available but old forms can be used until June 30, 2017.

Sales Concept

No Cost Life Insurance

Many consumers have a larger need for life insurance during their working years but think they’ll need less in retirement. We have an insurance carrier that has a unique pricing anomaly. The GUL will allow a client to fund a 10 pay death benefit, let the product sit for 10 years then take distributions of all of the premiums paid and be left with a fully guaranteed reduced death benefit. Call today for details.

Industry News

DOL Fiduciary Rule Will Move Forward

Labor Secretary Alexander Acosta announced Monday night that the fiduciary rule will go into force June 9th and that there are no plans for a delay. This leaves a lot of questions in the minds of advisors about how business will be transacted after that date. Legacy Financial Partners will be hosting a webinar discussing what this means, how business will change, and how to comply with the various nuances of the rule. Keep an eye out for a webinar invitation in the coming days.

Hot Rates

AIG Secure Lifetime GUL 3

AIG offers a competitively priced GUL that is designed to be flexible for life’s what if’s. In addition to being low cost, it also offers a variety of riders including a chronic illness rider. What’s unique about this rider is that the client doesn’t have to have to have a life long chronic illness to trigger a claim. With the accelerated access solution the client can go on claim and if they recover can begin paying premiums again without having to pay any back premiums. Call today for additional details and state availability.

Please fill out the form below to learn more

[contact-form-7 id=”10″]

Tuesday Tips – May 16th, 2017


Great American Rate Decrease

Great American is reducing rates on the FlexMax series of FIA products effective May 21st.  Applications must be signed by Saturday, May 20th in order to receive the current rates.  Call today for additional details.

National Western Raises Rates

National Western has increased rates on their portfolio of annuities.  They are now offering fixed interest rates as high as 3.35% and annual point to point caps as high as 7% call today for additional details.

Sales Concept

Consumer Protection of LTC

Despite what retirees envision they’ll be spending their money on in retirement the two biggest expenses in retirement are health care and taxes.  LTC insurance can act as a wedge to reduce some of those expenses.  Unfortunately most consumers don’t quite understand what LTC is and how it can be a benefit.  Available for download is a guide that discusses common misconceptions consumers have about long term care.

Industry News

FINRA Fines Increased

Total fines imposed by FINRA in 2016 rose to $176mm.  This number was almost double from 2015 according to law firm Eversheds Sutherland.  The increase was attributed to FINRA increasingly using fines of $1mm or more.

Hot Rates

National Western Ultra Classic

The Ultra Classic is a competitive 13 year product that is designed for accumulation as well as income distribution.  The product is a 5 X 5 and can be a great option for the second bucket in a 3 bucket strategy.  It also offers multiple index options including an annual point to point cap of 7% with a .50 annual charge.  The product also offers 10% free withdrawals starting in year 2 that can accrue up to 50%.  Call today for additional details and state variations.

Sales Concept Downloads

Marketing Corner – The Four Challenges Everyone Faces in Retirement

Marketing Corner – Thursday May 11th, 2017

The Four Challenges Everyone Faces in Retirement

Modern retirement planning has evolved to involve a number of complex strategies, products, and solutions. With each proposed idea comes any number of considerations; tax-liabilities, asset positioning, sequencing, risk exposure, etc. While working through these problems is the meat and potatoes of financial/ retirement planning, it can be helpful to highlight, in simple terms, the four challenges that everyone faces in retirement. By doing so, you can impress the importance of a robust financial plan.

So what are the four challenges? You’re likely already familiar with them. They are:

  • Taxes
  • Inflation
  • Market volatility
  • Longevity

Each of these impacts financial plans and retirement resources in different ways.

Without getting into specifics, a consumer can face tax liabilities before and/or after retirement. This gets into the whole “would you rather be taxed on the seed or the harvest analogy.” And while deferred products grow tax-deferred, liability upon distribution is something to be aware of.

Inflation is a constant ambient threat before and during retirement. Inflation affects the consumer’s real value of their dollars they have, which is why products or solutions that have some element of growth potential may be appropriate. The better a consumer understands this, the more they will appreciate the importance of deferred-growth cash value products. A good rate of return can combat the rate of inflation and large cache of retirement resources can help mitigate the effects of inflation once income is no longer earned from work.

Market Volatility
If a consumer’s risk exposure is inappropriately balanced, they may be subject to the effects of a market dip or sector drag. Many consumers might not even be aware of the level of exposure in their employer-sponsored plan. So a consumer not only needs to evaluate their stocks and direct investments, they need to look closely at their company retirement benefits. Just by explaining what is contained in their package (through policy and doc reviews) you can gain a lot of trust from a prospect.

We all know that people are living longer. This means that retirement resources that in the past may have been expected to stretch 10-15 years, now need to go much further. This gets to the central challenge of retirement planning – accumulating enough resources that cannot be outlived. As soon as an individual stops earning income, the clock is against them.

Understanding these four challenges is crucial for a consumer to appreciate the value of a robust retirement plan. And it is not just these factors individually that work against the consumer’s ideal retirement; it is all of them working together. If you start the exploration process with a simple breakdown of these factors and boil complex solutions back to the core challenges they address, you should have a better connection with your prospect or client.

Complimentary Beyond Capital Transfer Guide

Fill out the form below to receive
your complimentary copy.

Tuesday Tips – May 9th, 2017


F&G Repackaging

As announced a few weeks ago F&G has implemented updates to the Safe Income Plus, Performance Pro, and Prosperity Elite series as of May 8th.  These changes have also caused an adjustment to the applications.  Call today for details.

Athene Rate Decrease

Effective May 13th Athene will be reducing rates on their Maxrate series as well as their Ascent Accumulator series.  Applications must be received in good order by May 12th in order to receive the current rates.  Call today to get an updated rate guide.

Sales Concept

Disability Awareness Month

May is Disability Awareness Month many people don’t consider the impact a disability can have on themselves and their family.  Principal has introduced a simple interactive tool that illustrates the financial impact of not being able to work and provides solutions on how to insure that risk.  Call today to request your download link.

Industry News

Interesting Stat

In a recent survey by LIMRA and Life Happens 70% of respondents stated they would be more inclined to buy life insurance if there was less medical testing.  As a reminder, more and more companies are moving to accelerated underwriting.  You can now get preferred best rates up to $1mm of death benefit with only a phone interview required of the client.  Call today for additional details.

Hot Rates

Lincoln National Term Accel

Lincoln National offers a competitively price term product that is eligible to any of their permanent products.  It also offers accelerated underwriting allowing consumers age 18-60 to apply for up to $1mm of death benefit without the need for an exam and labs.  Call today for additional details.

Please fill out the form below to learn more

Tuesday Tips – May 2nd, 2017


Global Atlantic Increasing Withdrawal Rates

Effective May 1, 2017 Global Atlantic is raising withdrawal rates on the Choice Income and Income 150+ FIA’s.  The increase is .25bps.  Call today for additional details.

AIG Rate Decrease

Effective May 1, 2017 AIG has reduced rates for various premium bands on their portfolio of FIA’s.  Most of the reductions are around .25bps.  Call today for an updated rate sheet.

Sales Concept

Chronic Illness vs LTC

Chronic illness and LTC riders have become a very popular option to add to a life insurance policy.  These riders can help increase sales by offering more value to the client.  The other side of the coin though, is that many consumers and some agents don’t understand the different formats for advancing the death benefit which can mean a client thinks they’re buying one thing and are actually getting another.  Available for download is a comprehensive guide that discusses the differences between LTC and Chronic illness riders.

Industry News

Shutdown Avoided

Congress has agreed to a $1 trillion plus budget that would fund the government through September of this year.  Details are still rolling out on what adjustments have been made and the bill will need to move through both houses before Friday.

Hot Rates

Athene Performance Elite Series

Athene’s Perfomance Elite series of FIA’s offers a variety of options for individuals looking for either accumulation or guaranteed lifetime income.  The product series offers a range of bonuses from 4% to 12% as well as participation rates as high as 135%.  The product also offers enhanced liquidity, if a client doesn’t take a 10% free withdrawal they can accrue up to 20%.  In addition to this the product offers multiple income rollup options.  Call today for additional details and state variations.

Sales Concept Downloads

Marketing Corner – Beyond Capital Transfer

Marketing Corner – Thursday April 27th, 2017

Beyond Capital Transfer

Many consumers (and some advisors) see life insurance as having two purposes. The first is to provide a death benefit that replaces income and helps with household expenses. The other, when expenses are met, is to transfer wealth to the next generation in a tax-advantaged manner.

These two purposes are certainly relevant and can help align other pieces of an individual’s financial plan. However, modern, cash-value policies have evolved to provide many more benefits, some that can even be tapped into during life.

This creates a situation where a consumer can receive the peace of mind that comes with a death benefit and legacy transfer, while also enjoying asset leverage, additional sources of retirement income, and increased tax-efficiency.

While you may be familiar with the concept of life insurance in retirement planning, there are a variety of ways life insurance can be used to increase retirement income. This is why we created our latest sales kit, Beyond Capital Transfer. This complimentary guide provides:

• Overview of several advanced creative life insurance strategies
• Information on how to reposition assets, maximize tax-efficiencies, and gain additional leverage
• Case scenarios and illustrations.

For this week’s Marketing Corner, we wanted to run an excerpt of this exclusive guide. Below is the guide’s section on GMWB Maximization. Use the form to request the full kit.


GMWB Maximization

10,000 individuals are turning age 65 every day and will continue to do so for the next decade. Many of these consumers are not only concerned about maximizing their income in retirement, but also not outliving it. In fact, the number one fear of boomers is outliving their retirement income. With this in mind, a good solution can be using an annuity with an income rider that can generate a lifetime of income. Couples will often elect a joint payout for the income rider so that after the death of the first spouse, the surviving spouse will continue to receive an income for the rest of their life. The downside to this option is that a joint life payout will generate a lower payout than a single life payout.

A potential alternative to selecting the lower joint payout is to use the higher life-only payout and bundle it with a life insurance policy. By selecting a life-only payout and applying the income difference between the life-only payout and joint payout to a life insurance policy, you can ensure a continued income stream for the surviving spouse.

There are a few reasons why this strategy can make a lot of sense. First, many times the life insurance premium will be less than the income difference between the two payouts, resulting in a higher net income amount.

Second, if the annuitant passes away prior to the income distribution or during the income distribution but prior to exhausting the accumulation value, the surviving spouse will continue to receive income from the annuity until the accumulation value has been exhausted. The spouse will also have the life insurance death benefit.

Third, regardless of whether the initial funds in the annuity were qualified or non-qualified, the life insurance death benefit will be paid out income tax-free if a SPIA is used to continue the distribution. In this case, only a small portion will be taxed based off of the exclusion ratio.

Finally, since most income riders have a set income payment at the death of an individual, there can be an influx of bills or unexpected expenses that can be challenging to pay for with set payments whereas, having a lump sum from a life insurance policy can help mitigate these potential expenses.

Here is a case scenario that illustrates this strategy:

John Smith
Age 60

Jane Smith
Age 57

25% tax bracket

Clients have $250k saved up in an IRA to use for retirement income. Their primary objectives are to not outlive these funds and to generate consistent income. They are planning on retiring in 3 years and are considering purchasing an indexed annuity with an income rider to give them the guaranteed income they desire.

Annuity Company A can provide a joint income payout in 3 years of $12,823.45 for the rest of John and Jane’s lives. The equivalent single life premium for Jane necessary to generate $12,823.45 is $200,000.00. We then take the $50,000 difference and deposit the after-tax funds into a guaranteed universal life policy.

Based on this lump sum, Life Insurance Company B will guarantee a death benefit of $162,240.00 for the rest of Jane’s life. It is important to note at this point that at the death of an annuitant, an income rider will continue to pay out an income until the accumulation value is exhausted. In our scenario, assuming zero gains in the contract, the accumulation value will exhaust 14.81 years after income started. So if Jane dies in the 14th year of payout, John will be 77 years old and will receive the $162,240.00 from Jane’s life insurance policy. If these funds are deposited into a life-only SPIA with Insurance Company C, it would generate $15,729.05 per year of income for the rest of John’s life.

This strategy accomplishes a few things:

• If Jane dies prematurely, John receives a tax-free lump sum and can still continue the annuity’s income stream until the accumulation value is exhausted.
• If Jane pre-deceases, John he can deposit the funds into a SPIA that will not only increase his income but also has a lower tax liability because it is being funded by NQ funds.
• If Jane outlives John, her income remains guaranteed and she now has a life insurance policy that can transfer to her beneficiaries.
• The advisor, by presenting a more leveraged strategy, now has 2 sales instead of 1 and also has the potential to manage the funds received at Jane’s death.

Complimentary Beyond Capital Transfer Guide

Fill out the form below to receive
your complimentary copy.

Tuesday Tips – April 25th, 2017


LMG Income Rider

Legacy Marketing Group has announced changes to the Income Freedom Rider on the F&G suite of products. In general payout factors will be increasing for older ages and reducing for younger ages. Changes will take affect May 19th and in order to receive the current rates applications must be at the home office by May 18th. Call today for additional details.

F&G Rate Special

There are still a few days left to take advantage of F&G 3.10% 5 year MYGA rate special. The special will officially end on April 28, 2017 and the new rate will be 1.85%. Call today for additional details.

Sales Concept

Beyond Capital Transfer

Life insurance can play a vital role as part of a financial plan. Cash value life insurance is often used as a way to generate supplemental income in retirement for a client. While many advisors are familiar with this LIRP concept there are a variety of other ways life insurance can be used to increase a client’s income in retirement. Our Beyond Capital Transfer guide takes an in depth look at various life insurance strategies that can increase income in retirement while also reducing the impact of taxation. Request your guide today.

Industry News

Emergency Fund

According to a recent study by the new York fed, about a third of consumers said they would have trouble coming up with $2,000.00 in the event of an emergency. What was most pronounced was that only 11% of those with a credit score over 760 would have trouble versus 64% of those with a credit score below 680.

Hot Rates

MTL Horizon Value Whole Life

Mutual Trust Life is a new insurance carrier that we’ve brought on. Their flagship product is the Horizon Value participating whole life policy. The product writes ages 0-75 and is designed to build competitive cash values with flexible access to the funds. The product offers a guaranteed minimum 4% interest rate and also offers a chronic illness rider. Call today for additional details.

Please fill out the form below to learn more