Industry News

The Wait and Ceaseless Clicking are Over

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AIG’s brand new consolidated web site is live! The new RetireStronger.com website positions every single piece of marketing material we have ever created at your fingertips, in one convenient place. Forget hopping between various playbooks and microsites! All the information you need is streamlined and available here: product marketing, sales ideas, sales tools, training, programs […] The post The Wait and Ceaseless Clicking are Over appeared first on Insurance Designers of America.

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New York Regulation 187 is Coming in 2020

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What will be the impact on your life insurance business process and procedures?  At Lincoln Life & Annuity Company of New York, we’re working closely with industry experts and groups to ensure we are compliant with the regulation and that we are supporting your needs. Check out our 187 Overview and FAQs here! The post New York Regulation 187 is Coming in 2020 appeared first on Insurance Designers of America.

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Upcoming Changes to Mutual of Omaha’s Life Product Portfolio

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Effective January 1, 2020, we will be making changes to our life product portfolio, including discontinuing our Guaranteed Universal Life product, repricing our Level and Graded Living Promise Whole Life final expense products, repricing our Term Life Express Non-ROP product and discontinuing our Term Life Express 20-Year ROP product. Read the 2020 Life Portfolio Changes […] The post Upcoming Changes to Mutual of Omaha’s Life Product Portfolio appeared first on Insurance Designers of America.

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Lafayette Life Launches 2020 Series of Life Products!

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Announcing our 2020 Series of Whole Life and Term Products with enhancements that can benefit your clients with new options that may help them be more prepared for their financial future. Applications have been updated to support the new options.  Visit the Marketing Materials page for more information and to access the updated product materials. […] The post Lafayette Life Launches 2020 Series of Life Products! appeared first on Insurance Designers of America.

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Symetra’s IUL Index Crediting Method Makes a Difference

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At Symetra, we calculate the index credits in our IUL products based on the beginning value of the index segment to prevent index returns from being reduced by policy charges. Our timing of index credits flyer (PDF) highlights the impact this timing can have over the duration of the policy Symetra’s IUL products are designed […] The post Symetra’s IUL Index Crediting Method Makes a Difference appeared first on Insurance Designers of America.

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Enhancements to Protective’s Underwriting Experience

By Feed | Insurance Designers of America

We’ve made enhancements to our underwriting guidelines that will streamline and simplify doing business with us and provide clients with a better underwriting experience.  Now, a majority of client cases can bypass resting EKG requirements. In addition, we’ll leverage electronic inspection reports rather than telephone inspection reports in most underwriting scenarios.  You can rely on […] The post Enhancements to Protective’s Underwriting Experience appeared first on Insurance Designers of America.

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PruLife Private Placement VUL (PPVUL) is Being Repriced

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Effective December 9, 2019, PruLife PPVUL is being repriced for the 2017 CSO Table and to comply with the Principle-Based Reserving (PBR) requirement. PruLife PPVUL will continue to be one of the most competitive private placement products in the market. Learn more The post PruLife Private Placement VUL (PPVUL) is Being Repriced appeared first on Insurance Designers of America.

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The Gift of Giving from SBLI

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Many grandparents would like to make substantial gifts to their grandchildren but living on a fixed income can make them difficult. With the purchase of a level payment whole life policy based on their lives, grandparents can maximize their gift and guarantee the death benefit. Click here for more information and our customizable marketing piece! The post The Gift of Giving from SBLI appeared first on Insurance Designers of America.

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AXA Addresses Your Clients #1 Financial Concern: Long-Term Care

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25% of those age 65+ say that their top financial concern is paying for long-term care expenses. Hear from renowned long-term care expert Dr. Sandra Timmermann as she discusses why it’s so important to talk about end-of-life issues like long-term care. The post AXA Addresses Your Clients #1 Financial Concern: Long-Term Care appeared first on Insurance Designers of America.

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Women & Life Insurance

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Did you know that women are the primary breadwinners in over 40% of households? Check out this infographic from Pacific Life that highlights the strengths and weaknesses of women’s financial standing. The post Women & Life Insurance appeared first on Insurance Designers of America.

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A settlement has been reached in the years-long law suit over increases in non-guaranteed costs of insurance for universal life policy owners.

On October 4th Transamerica announced a $195 million settlement for increases announced in 2015 and 2016 that affects over 100,000 policy owners.

Ron Sussman, CEO of CPI Companies was an expert witness in the case and an advocate for policy owner rights.

Policy owners will receive payments credited to their cash value and a 5 year moratorium on any future rate increases.

More information to follow.

Happy to share my first article in INN Magazine

Article: http://www.insurancenewsnetmagazine.com/article/%E2%80%98unscheduled-policy-loans-can-create-sales-opportunities-3524#.W4Vo_ehKiHs

To Learn More: https://mailchi.mp/07aa3321648b/policyloanrescue

Still think that term policy your client doesn’t need anymore is worthless? THINK AGAIN! We recently worked with a 75-year old client who owned a $1.5M term policy. The policy was approaching the end of the guarantee period, the client did not want to pay to convert, and planned to let the policy lapse. We explored a life settlement option and the client was able to sell the policy for $232,000, instead of letting it lapse and walking away with nothing.

Agent's need to educate their client's about these opportunities, as too many are missed. Contact us if you'd like to learn more.

Read CEO, Ron Sussman's latest article published on InsuranceNewsNet.com website: https://insurancenewsnet.com/innarticle/commentary-have-we-created-a-national-shadow-retirement-system

Congresses change from C-CPI to CPI-U for indexing inflation could lead to a reduction in the daily per diem limits for your client's LTC or Chronic Illness Rider. Help your client's plan accordingly for the unexpected reduction and make sure they understand the impact it will have whether they own an indemnity or reimbursement style rider. Click the image below for more info

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Beginning late January 2018 John Hancock will notify LTC policyholders (including those from the block acquired from Fortis) that their premiums are increasing. The effective date will begin with policies with anniversaries on or after May 1, 2018.

Implementation is state specific and continues increases that, for some policy holders, began in 2012.

Please contact our office for more details.

For policy holders that are healthy, consider switching to newer linked benefit products with premium guarantees such as the Secure Lifetime GUL from American General.

Recently two carriers, North American and Protective Life, Announced decreased cap rates for their newly issued and in-force blocks of IUL products. This repricing of options reduces the index cap rate, and the maximum illustrated rate for index segments that are initiated or renew in 2018.

Indexed Universal Life cap and participation rates are determined by the carrier's options budget and the cost of options as determined by the options provider. These rates can be counterintuitive in a rising equities market where interest rates continue to moderate to the low side or fall.

We may be seeing the tip of the iceberg. Protective and North American are two conservative companies that tend to t...

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If you've ever asked your investment advisor for data on mutual funds or ETF's you know that there is a plethora of information available from a large number of sources. The source of the original purchase is irrelevant because the data is required by SEC and FINRA and is available through a simple internet search.

You can research any fund, manager, or investment company and easily find the performance and cost structure. This makes investing easy and accessible for any purchaser.

Now, try the same thing with your permanent life insurance policy. It is virtually impossible. Not only is there no repository of data, but the issuers go out their way to make sure you do not receive the informati...

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Stay tuned as we continue to add new features and tools. www.cpicompanies.com

Life insurance policies need to change to meet the needs of new generations of purchasers. The idea that the benefits of a policy are only for the purchasers beneficiaries is outdated and in desperate need of a makeover.

American General has the only solution: Secure Lifetime GUL 3 is life insurance for the living.

This product provides three opportunities for clients to benefit while they are alive:

1. Opt Out. After year 25 clients can elect to terminate the policy and receive a full refund of all premiums paid.

2. Use the death benefit to pay for LTC or chronic illness. Indemnity based benefit. No need to provide receipts. Pay for home care by a family member or use for any other purpose.

3. ...

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