 |
|
|
Protection UL Repriced, Effective February 28, 2022
Show your UL clients how John Hancock's newly repriced Protection UL continues to stand out against GUL competitors — making it a clear choice for customers seeking:
- Industry-leading pricing, especially for short- and single-pay scenarios
- Strong no-lapse guarantees with attractive cash value potential, particularly compared to guaranteed UL products
- New Cash Value Enhancement rider and Preliminary Funding Account for added flexibility
- Potential for even lower premiums for healthy living — plus additional rewards — with Vitality PLUS
|
|
|
|
|
|
Classic Choice Term Price Reduction Effective March 7, 2022
Transition Rules:
- For paper business, applications must be signed and received on or before March 21, 2022.
- For ticket business and direct writer, applications must be signed and received on or before April 4, 2022.
- Any application in Underwriting on March 7, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.
- NY does not have a rate change and will not follow the above rules
|
|
|
|
|
|
Securian Reducing Cap & Participation Rates on their IUL Portfolio Effective March 19, 2022
Due to ongoing volatility in the capital markets, it has become necessary for Securian to reduce cap rates and participation rates on some of the accounts within their Indexed Universal Life product portfolio.
These changes will take effect for all premium received and new indexed segments created after Friday, March 18, 2022. All premium received on or before March 18 for approved and existing policies will have current rates applied. Illustrations will be updated March 19, 2022.
Many considerations go into determining the cap and participation rates – and we want to make sure you understand how they are determined and why they change.
|
|
|
|
|
|
Reminder: New York MoneyGuard Product Suspension
Last day to submit applications is March 25, 2022.
Due to the existing regulatory environment in New York, Lincoln Life & Annuity Company of New York (Lincoln) is unable to maintain a modern portfolio of MoneyGuard® hybrid life insurance products in the state and will be suspending new MoneyGuard® sales in New York until further notice. These changes do not impact existing policyholders.
The following product currently sold in New York will be suspended after March 25, 2022:
- Lincoln MoneyGuard® II NY
Submission and placement deadline:
- All New York applications for the product listed above must be received in-good-order at Lincoln by March 25, 2022, and
- All pipeline cases for the New York product listed above must be placed inforce, or 1035 exchange initiated by June 30, 2022
- Any case not placed inforce or 1035 exchange initiated by June 30, 2022 will be cancelled
|
|
|
|
|
|
Equitable Increasing Minimum Face Amount to $1,000,000 for Term Products
Effective May 2, 2022 minimum face amounts will be raised to $1,000,000 except for applications signed in New York or Puerto Rico for their Level Term 10, 15, 20 and ART products.
|
|
|
|
|
|
Streamlined Executive Underwriting Program Guidelines
The Streamlined Executive Underwriting Program provides another option for potential Guaranteed Issue clients in which the group size or compensation exceeds traditional limits.
|
|
|
|
|
|
Accelerated Guidelines Keep Expanding for the Better
Nationwide has expanded its acceleration guidelines within the Nationwide Intelligent Underwriting process. Now, clients between the ages of 18 to 50 years old are eligible for acceleration up to $5 million in face amount. This specific age group was previously capped at a $2 million face amount.
|
|
|
|
|
|
Unique Business Succession and Exit Planning Ideas
Invite your professional advisor contacts to Pacific Life’s Strategic Alliances Series live webinar on March 15, 2022 where Unique Business Succession and Exit Planning Ideas will be shared. Add value, strengthen your relationships, and help your mutual clients find opportunities in the present and future tax climate.
Tuesday, March 15, 2022 at 9:00am PST/ 12pm EST
|
|
|
|
|
|
SecureCare III Coming Soon!
Securian has built the long-term care (LTC) solution you asked for: SecureCare™ III, a hybrid LTC plan built on a non-participating whole life insurance policy.
It has all the things you love about its predecessor — a cash indemnity benefit for LTC with no fine print or restrictions about how it can be used — plus more flexibility.
Now clients can choose the protection that matters most to them:
- Maximize protection on their premium dollars with full return of premium OR
- Maximize leverage on their premium dollars with LTC Boost1
Wednesday, March 30, 2022 at 11:00am PST / 2pm EST
|
|
|
|
|
|
|
|
|
We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966.
|
|
|
|
|
|
For agent use only - not for use with the general public.
|
Corporate License No. 0D87913
|
|
|
|
21820 Burbank Blvd., Suite 301
|
|
|
|
|
|
GBS Insurance and Financial Services, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
© 2022 Arthur J. Gallagher & Co.
|
|
|
|
|
|
