Industry News

The guidelines for Columbus Life’s accelerated underwriting program have expanded to include clients applying for face amounts of up to $1,000,000 – twice the amount of the original limit! Read More The post Columbus Life’s Accelerated Underwriting Expansion appeared first on Insurance Designers of America.

With the Q4 Mission Addition underwriting program, your clients can quickly and easily add a permanent life insurance policy of the same amount (up to a $1 million) to their existing life insurance program. And, if they meet our criteria, we’ll give your clients an opportunity to benefit from the Mission Addition Advantage: either include […] The post Easily Add to Your Client’s AXA Coverage with our Q4 Mission Addition Underwriting Program! appeared first on Insurance Designers of America.

Redesigned using 2017 CSO Mortality Tables and to provide your clients with more guarantees, no matter how markets perform. Bulletin 19-094 The post AIG Redesigns Platinum Choice VUL 2 to Focus on Guarantees appeared first on Insurance Designers of America.

As we look to streamline our product portfolio due to the 2020 CSO table changes, effective October 29, 2019, we will discontinue sales of Allianz Life Pro+ Survivor® Fixed Index Universal Life Insurance Policy. › Learn more The post Discontinue sales of Allianz Life Pro+ Survivor appeared first on Insurance Designers of America.

Term Essential® and Term Elite® are being revised and remain competitive and attractive to clients. Learn more The post Changes Coming to Prudential’s Term Portfolio on October 28, 2019 appeared first on Insurance Designers of America.

We’re on a mission to make sure your clients have the protection they need. Too many Americans are uninsured, underinsured, or have a policy that can’t adjust to meet their changing needs. It’s time to remedy that! With this underwriting program, your clients can quickly and easily add a permanent life insurance policy of the […] The post AXA’s Q4 Mission Addition Limited Time Offer: Now through Dec 31st appeared first on Insurance Designers of America.

Effective October 1, 2019, the guaranteed lifetime rates for GUL Express have dropped. Learn more about what the drop can mean for you. The post Mutual of Omaha’s GUL Express Rates Have Dropped appeared first on Insurance Designers of America.

Effective October 5, 2019, the guidelines for Columbus Life’s accelerated underwriting program will expand to include clients applying for face amounts of up to $1,000,000 – twice the amount of the original limit! Read More The post Accelerated Underwriting Expansion at Columbus Life appeared first on Insurance Designers of America.

Do you have clients with term policies that are no longer meeting their needs, or do they wish to convert their policies but their current carrier has restrictions? Lafayette Life may have a solution for you! Find out more here. The post Term Exchange Program from Lafayette Life appeared first on Insurance Designers of America.

John Hancock Vitality can help clients with substandard ratings get the coverage they need and help them improve their health. Based on the success stories, we’re making some adjustments that will allow even more savings! Download a PDF with the details. The post Enhanced Savings from John Hancock for Substandard Risks appeared first on Insurance Designers of America.

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

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 treat their policyholders very well. But there a...

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 information.

Insurance carriers protect your data so wel...

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. At age 85 receive the net death benefit in 10 e...