Advisors Blog

New Growth Cap Rates for Market Stabilizer Option II, Effective July 21, 2023

The MSO II Indexed Options offer varying levels of downside protection combined with the potential for growth opportunities in various market conditions. Equitable offers three Standard Indexed Options, a Step Up Indexed Option, and a Dual Direction Indexed Option.

Effective August 11, 2023, Accumulation IUL 23 has been Approved in All States, Except SD, GU, NY & SC

What’s new?

• Improved income potential — giving clients an even better supplemental income solution.
• Access to new Barclays Global MA Plus Indexed Account — providing a higher participation rate and improved performance potential.
• Increased participation rate on Barclays Fixed Index Loans — helping secure greater upside potential with a higher participation rate and a guaranteed loan charge of 5%.
• Lowered enhanced target premium threshold (now 2X target) — offering a greater opportunity for enhanced compensation.

An Inside Look at Legal & General's Underwriting Transformation

Legal & General is using technology in new ways to enable a more human and inclusive underwriting experience. Here are a few ways they're reinventing the underwriting process:

• Appetite: By leveraging predictive analytics, Legal & General was able to relax criteria for 16 health conditions, making it easier for your clients with health conditions to get through underwriting. They’ve relaxed their stance for vapers, and individuals with sleep apnea, and enhanced their finance underwriting guidelines.
• Tempo: By instantly accessing clients’ electronic health records, Legal & General is responding to applications faster than ever before, with 30% of cases receiving an instant decision and 52% of cases receiving approval within 10 days – without the need for labs.
• Teamwork: Recent updates give advisors more voice and visibility through every step of the underwriting journey. Legal & General has automated tedious tasks and added 30 new underwriters.
• Rate: You can count on Legal & General to be highly competitive in all classes and to quickly file new rates as needed.

Lincoln WealthAccelerate IUL Available in Massachusetts

Effective August 14, 2023, Lincoln is pleased to announce the availability of Lincoln WealthAccelerate® IUL in the state of Massachusetts. 

Lincoln WealthAccelerate IUL is an indexed universal life product with an emphasis on the digital and automated experience, from application to policy management, and a focus on meeting consumer expectations in today’s modern world of instant decisions, exceptional experience, and simplicity.

Reminder! New York Only:

No Illustration Acknowledgement (NIA) Process Discontinued

Due to requirements of the New York Department of Insurance, effective August 18, 2023, the NIA process will be discontinued. All financial professionals doing business in the state of New York will be required to have their prospective insurance clients sign and date the illustration or preliminary information statement prior to or at the time of sale.

OneAmerica Expands Their Joint Asset Care Offering, Effective July 26, 2023

Effective July 26, 2023, the joint option on OneAmerica Asset Care will include the 4% acceleration option.

For details, please review I-31591 Care Solutions Product Guide. (The 75-month option currently is not available in California.)

Age And Amount APS Guideline Updates

Protective has announced updates to their Age and Amount APS guides, effective August 2023.

Get Ready for SBLI’s New Accelerated Underwriting Program

Beginning August 14, 2023, SBLI will be moving away from the “no exam guaranteed, accelerated underwriting process” to a completely new underwriting experience called AcceleRate, which will offer immediate decisions on all cases and more competitive rates.

Underwriting Tailored to Your Clients

WriteFit Underwriting utilizes new tools and techniques that predict relative mortality based on several behaviors. There is no need for a medical exam or blood test, so your clients can experience a less invasive underwriting process than traditional underwriting.

Streamlined and Improved WriteFit Underwriting Offers

• Preferred Select for qualifying experimental or occasional use (up to 3 times per month)
• Preferred non-tobacco for qualifying intermittent use (up to 9 days a month)

Streamlined and Improved Traditional Underwriting Offers

• Preferred Select for qualifying experimental or occasional use (up to 3 times per month)
• Preferred non-tobacco for qualifying intermittent use (up to 9 days a month)

Upcoming Changes to Securian Financial’s Indexed Universal Life (IUL) Portfolio Management

Securian Financial is changing the way they manage IUL portfolios starting September 15, 2023. The IUL Portfolio Management will have distinct indexed account parameters and fixed account interest rates by product that will allow for competitive priced products in a way that better reflects the current economic.