Advisors Blog

Effective May 30, 2023, Allianz will require sales illustrations to be included at the time of application.

Cincinnati Life’s Termsetter reprice presents an overall rate reduction for all term periods and rate bands, with the most significant reductions found in shorter term durations, Preferred Plus and Preferred rate classes and younger ages.

Effective May 22, 2023, Select-a-Term is repriced in all states, excluding New York. There are no premium increases, and roughly 30% of cells have lower premiums with an average decrease of roughly 1.5%. The lower rates can be seen across all bands!

This ON-Demand Webinar covers the provisions of SECURE 2.0 that significantly impact qualified retirement plans and plan participants.

Updates to AG49-A regarding the maximum illustrated rate for fixed bonuses go into effect industry-wide May 1, 2023.

As a result of these updates, the new maximum illustrated rate on Bloomberg US Dynamic Balance II ER Index and PIMCO Tactical Balanced ER Index that include the Classic Bonus will drop from 7.08% to 5.74%.

The collapse of Silicon Valley Bank has shaken confidence in the financial system and prompted consumer concern that life insurers could find themselves in a similar situation. Similar to banks, life insurers invest in long-duration financial instruments which lose value in a rising interest rate environment. To protect your business, it is critical that your clients understand the significant restrictions which insurers have in place to prevent a run on liquidity.

As of 5/1/2023, American National will no longer accept applications for the American National Term Rider on Signature Whole Life policies. 

AG49-A “version 2.0” will effectively put an end to using bonuses and multipliers that add additional accumulation value to an illustration (aside from the annual projected index credit). The result is another shift toward more conservative illustrations potentially impacting the way these products are sold. Click below for more details on what to expect after AG49-A 2.0 goes into effect.

There has been considerable client interest in the liquidity of life insurance and annuity companies in the wake of bank regulatory actions against Silicon Valley Bank (SVB) and Signature Bank of New York (SBNY) over the last several days. The concerns are understandable given the number of similarities between banks and life insurance companies. There are several substantial differences between banks and life insurance companies that result in materially lower liquidity risks for life insurers.

ANICO announced big improvements to the industry-leading Signature Performance Indexed UL product, that will take effect on 04/03/23