Say Hello to Summer and Hot New Rates
Legal & General America has competitive new term rates and great pricing for both annual and monthly premium payments. More information available here.
Improved Pricing on Prudential’s UL Protector as of June 11, 2018
At Prudential, we strive to provide clients with a relevant suite of product solutions to help them meet their financial goals. That’s why we’re excited to announce reduced rates on UL Protector, which underscores our commitment to the GUL marketplace and provides your clients with the same great death benefit option at a lower cost.
- Rate reduction of approximately 3% across all level pay premiums.
- Short pay scenarios will see moderate decreases.
- Rate reduction of approximately 3% on BenefitAccess Rider (level pay premiums only).
- No rate increases, no change to single pay scenarios.
- Increased Competitiveness
We’ve improved our competitive positioning across the board as a result of UL Protector’s price decrease. In fact, the reprice positions us as the industry’s top leader in key cells for clients aged 65 and over.
Same Great Features
- Flexible Lifetime Guaranteed Protection: UL Protector is a permanent life insurance policy with guaranteed lifetime protection.
- BenefitAccess Rider (BAR): By adding BAR, clients can accelerate their death benefit should they become chronically or terminally ill, even if expected to recover. No receipts required. BAR costs are also decreased by about 3%.
- Age Last Birthday Advantage: While most carriers use “age at nearest birthday” to determine clients’ age, we use age at last birthday, which means potentially lower premiums for clients.
- A lower-priced UL Protector underscores our commitment to the no-lapse guarantee marketplace, and our promise to offer clients high-quality, cost-effective products at every stage of life.
New From AIG: Non-medical Underwriting on IUL and VUL
FASTER COVERAGE ON IUL & VUL POLICIES? OH YEAH!
A purchase process that is simpler for your client, faster for us to support, and easier on you to complete.
• No labs, APS’s, Para-meds, or physical exams.
• Easy processing with fewer requirements to gather.
• Same competitive products – no changes to compensation, product, or expense.¹
• AG Quick Ticket available today for IUL: online processing – faster submission – faster commission.
Beginning April 16, 2018, Max Accumulator+ and AG Platinum Choice VUL 2 can be processed with non-medical underwriting.
Satisfy your need for speed and accelerate your business. Learn more » Prerecorded training webcast also available
Introducing Reprice on PL Promise Term Life Insurance
As of April 16, 2018, PL Promise Term life insurance just got more competitive. Check out our new premiums, plus other great news. You can rely on Pacific Life to deliver consistent, competitive pricing and automated, simple solutions.
• Premium decreases focused on achieving top 3 premium ranking in the following areas:
– 25-year term duration
– Select risk class
– Applicants age 50-69, any risk class, leveraging our new PL Smooth Sailing fluidless underwriting program
• Continued competitive strengths in the following areas:
– Competitive Substandard pricing (+20% per table vs. the traditional +25%)
– Competitive Monthly Premium mode (monthly premiums)
The new PL Promise Term rates go into effect beginning April 16, 2018. A 60-day transition period from April 16, 2018 through June 14, 2018 is provided. A request to use the lower rates is not required and any premium received with an application using the higher rate will automatically be refunded.
Ohio National is Raising IUL Cap Rates
Protective Conversion Rules and ProClassic Legacy Launch
Please read this important bulletin from Protective regarding the launch of the new ProClassic Legacy as well as some updates to their conversion rules.
Introducing PL Smooth Sailing Underwriting
New from Pacific Life — Smooth Sailing Underwriting
- Up to $500,000 Life Insurance Death Benefit* With No Medical Exams
- No Needles – No Blood Work – No Bodily Fluids – No EKGs – No Treadmills
- Ages 50–69, Any Risk Class Including Substandard
- Client Experience: Phone Interview and Application with Comprehensive Physical and Blood Work available from Primary Physician within last 18 months
- Additional Requirements: We will order the typical prescription report, medical information bureau, and motor vehicle reports
Genworth Financial: Write it Right Webinar Series
As part of Genworth’s Underwriting Education Month, they will offer three short webinars designed to help you increase your placement rates so you can insure more clients and earn more commission.
- Underwriting 101
April 10th at 10:00 AM CT – Register here.
April 12th at 1:00 PM CT – Register here.
- Common Conditions and Red Flags
April 17th at 10:00 AM CT – Register here.
April 19th at 1:00 PM CT – Register here.
- The TrueView Underwriting Experience
April 24th at 10:00 AM CT – Register here.
April 26th at 1:00 PM CT – Register here.
AIG: Secure Survivor GUL II Face Amount Capped at $5,000,000
Effective April 14th, AG Secure Survivor GUL® II sales will be limited to death benefit face amounts up to and including $5,000,000. This change is specific to AG Secure Survivor GUL II only. This does not affect our individual product Secure Lifetime GUL 3.
Transition Rules – New Face Amount Cap Effective April 14, 2018
AG Secure Survivor GUL II applications received on or after April 14th will be subject to this new death benefit face amount cap. To avoid the face amount cap on the AG Secure Survivor GUL II product,
Additional information is available here.
Penn Mutual Announces Portfolio Changes in NY Effective April 1, 2018
Acting in the long-term best interests of all of its policyholders, Penn Mutual has made the business decision to no longer accept applications for the following life insurance products from New York state effective April 1, 2018:
• Accumulation Builder Advantage Indexed Universal Life
• Guaranteed Protection Universal Life
• Protection Guard Universal Life
• Survivorship Plus Indexed Universal Life
Formal applications In Good Order for these products must be received in our office no later than Thursday, March 29, 2018. The policies that result from these applications must be issued and paid for by Thursday, May 31, 2018.
In accordance with existing policies’ terms, advisors may continue to service all inforce policies in New York.
Products Still Available in New York
The following life insurance products will continue to be available in New York state:
• Guaranteed Choice Whole Life
• Guaranteed Term 10-15-20
• One Year Term
Please note, there will be no change in the annuity products available in New York state.
Please call our office with any questions at 800.605.8988.