Year End Business Guidelines
Please click here for year-end announcements from our carriers.
Introducing OPTerm 35 and 40!
Legal & General America is revolutionizing the term insurance marketplace as the only carrier to offer level premium coverage for up to 40 years!
Give your clients the option to purchase simple, straightforward protection that can cover them into retirement and beyond. Our competitive, guaranteed level term OPTerm series now comes in durations of 10, 15, 20, 25, 30, 35 and 40 years! OPTerm 35 and 40 provide the same great pricing and service that you have come to know from Legal & General America.
For more info, please click here.
New Rates for Trendsetter Super
You asked for better rates, and on November 17 it’s happening. Get a sneak peek at lower term life insurance rates across the board for our popular Trendsetter Super Series. The changes take effect Nov. 17.
Now Available on ADDvantage® Term: Critical, Chronic, and Terminal Illness Endorsements
North American is pleased to announce the addition of the accelerated death benefit endorsements for critical, chronic, and terminal illness on the ADDvantage® term product effective September 24, 2018.
DOWNLOAD the bulletin for more information.
American National: MYGA Rate Increase in September!
Please click HERE for September rates. The Palladium MYG 6 is now 3.35% guaranteed for 6 Years (at $100k premium and greater)! And the Palladium MYG 7 now has a 4.44% guaranteed effective annualized yield for 7 years (at $100k premium or greater).
Prudential UW Change with Regard to Residents of Venezuela
Currently, Prudential accepts residents of Venezuela at NSP rates. However, that is changing. The country is being moved to a decline based on the overall endemic and political situation. Prudential is looking to make this change effective September 1, 2018, but will remain flexible with any case that may be in the works prior to that date. If you have any questions, please contact our office immediately. Prudential appreciates your understanding as to why they need to make this quick update.
PruFast Track Underwriting Launching on August 20, 2018
Prudential is excited to launch the PruFast Track on August 20th. PruFast Track was developed to simplify the underwriting process by leveraging Predictive Modeling and is available for most single life products at ages 18 – 60 and face amounts between $100,000 and $1,000,000. Clients who qualify for the top three underwriting classes are generally eligible for an accelerated underwriting decision (no exam and/or lab test) within days for some of the healthiest clients, although in some cases, an APS may be required in place of an exam or lab.
Beginning August 20th, any eligible application that is submitted through the Xpress Quick Form or Drop Ticket will automatically be on the PruFast Track underwriting path. When using the Xpress Quick Form or Drop ticket a tele-interview specialist will collect the required medical and risk information from the client. Exam or lab requirements should not be ordered with the application; doing so will automatically remove the application from PruFast Track and put it into the traditional underwriting path.
Ages 18 to 60
Face Amount $100,000 to $1,000,000
Electronic submission with tele-interview
All products except PruTerm One, PruLife UL Plus, and Survivorship products
No insurance exam ordered or completed in conjunction with the application
Single application submission (no additional applications)
No long form applications
Cases quoted Smoker, Preferred Smoker, or Substandard are not eligible
Prudential’s Chief Market Strategist Quincy Krosby’s Quarterly Commentary: “Road to Normal”
Dr. Krosby’s Q3 2018 Commentary highlights central banks proceeding with caution on policy changes, the world watching and waiting amid trade tariff threats, and the Fed determined to normalize interest rates.
SBLI Rate Reduction: Great New Rates Arrive on July 23!
SBLI is pleased to announce new term rates for all non-nicotine classes, effective Monday, July 23, 2018. The rates supporting our unique all risk classes, no medical exam accelerated underwriting process, will be much more competitive. Also, rates for our traditionally underwritten business will be particularly strong. Transition rules can be found here.