BETTER: NEWS

AXA: Announcing the new and enhanced IUL Protect

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Simple Guaranteed Protection!

  • As always, our simple “no-math” no-lapse guarantee to age 90, or for 40 years if the policy is purchased before age 50, means no guesswork or calculations, just a simple number your clients can rely on.1
  • Our Long-Term Care ServicesSM Rider offers guaranteed protection plus flexibility for your clients and their families, as long as they pay the required guarantee premiums.1,2

Straightforward Performance!

NEW! Our Extra Interest Credit is a unique feature that delivers direct cash value to your clients, on top of their index return, which is designed to increase when interest rates rise.

  • When the Guaranteed Interest Account is greater than 3.5%, your clients get credited the difference on top of their index return.

NEW! Stronger caps are designed for long-term stability in a changing interest rate environment.3

  • When interest rates fall, providers tend to reduce their caps to reflect their lower rates of return. Not AXA. Our product design has a consistent source to fund our caps – 3.5% from the Guaranteed Interest Account. So, we minimize the need to decrease caps when interest rates decrease.

Ready to learn more? Call us today! (585) 203-1206

 

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Build your business with the New Essential LTC 2X Bonus Producer Program

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As an NGL appointed agent, EssentialLTC offers you two new ways to earn a bonus:

Bonus #1 = $1,000

  • Earn $1,000 when you place three EssentialLTC policies

Bonus #2 = $250

  • Once bonus #1 is obtained, earn $250 for each additional placed EssentialLTC policy

 

The following terms and conditions apply:

  • Credit will only be given to the primary writing agent\
  • Policies that are declined or not taken will not receive credit as a placed policy
  • Credit will only be given for insured(s) that have not had previous placed EssentialLTC policies
  • Joint policies are considered one policy
  • Placed policies must be submitted between December 22, 2017 to April 21, 2018 (and subsequently placed by July 21, 2018)
  • Bonuses will be paid shortly after July 21, 2018

Take advantage of this rewarding program designed to accelerate your earnings potential and make 2018 the best year yet!

For information on EssentialLTC, Call us today! (585) 203 – 1206

 

Unique opportunity to add LTC rider upon Conversion

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Do you have clients who are interested in life insurance protection and a relatively affordable, effective way to pay for potential long-term care costs? Now, if your clients purchase a term policy within the time period stated below, and their circumstances change and they need coverage for life, they can convert to a permanent policy and add our LTC rider, with limited underwriting.

Clients can apply to add our competitive Long-Term Care ServicesSM Rider (LTCSR) with limited underwriting and a simplified LTCSR questionnaire, if they:

Purchase an AXA Equitable or MLOA term life policy with a register date between September 15, 2017 and March 31, 2018.

 Convert their term policy to a permanent life policy, any time from the beginning of the second policy year to the end of the fifth policy year.

Are rated Standard Plus or better

 Are ages 18-60 at the time of conversion.
They may be approved for the rider if the above parameters are met, they can perform all Activities of Daily Living (ADLs), and they are acceptable risks based on the limited LTC underwriting required.
View Online Brochure 

John Hancock Add’s Some Fuel to the Year End Fire with a New Sales Contest

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Producers Can Win an Apple Watch or a Trip to Boston

You likely already know that ALL John Hancock Vitality customers can get a great deal on an Apple Watch Series 3, but now producers can get in on the action:

  • All producers who sell more than $15K in Target Premium during the contest period will receive an Apple Watch Series 3, compliments of John Hancock!*
Even more exciting? A chance to win a “Best of Boston Marathon Weekend”! the top ten Vitality producers will earn a trip to spend some time with the team at John Hancock, including:**
  • Round Trip Air Fare and Hotel Accommodations
  • A Special Red Sox Experience
  • Take in the finish of the Boston Marathon from the VIP section
  • A “VIP Session” with the John Hancock Team

The Details:

  • * Apple Watch Qualifications: Minimum of $15K target premium from the sale of John Hancock Term with Vitality or permanent policies with John Hancock Vitality.
  • ** Best of Boston Qualifications: Minimum of $300K target premium from the sale of John Hancock Term with Vitality or permanent policies with John Hancock Vitality.

Please see the formal announcement from John Hancock for the full terms and conditions.

Transamerica: Suspension of Transcare® II AND III in MA

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Transamerica
MASSACHUSETTS NOTICE:
SUSPENSION OF TRANSCARE® II AND III
As you are probably aware, the experience with certain legacy blocks of long-term care (LTC) has been substantially worse than originally anticipated, at pricing, due to lapse rates being much lower than originally expected and benefit utilization being much higher than originally expected. As you know, this issue is not specific to Transamerica; the entire LTC insurance industry is faced with the same challenges and is seeking to address them.
The poor performance of these blocks has led Transamerica to seek actuarially justified rate increases around the country, including in the Commonwealth of Massachusetts. While most states are working with carriers to address these challenges, the Massachusetts Division of Insurance has for many years refused to approve actuarially justified rate increase requests as a matter of principle. Under these circumstances, and as we have informed the Division, we cannot justify continuing to write new LTC business in Massachusetts while these circumstances persist. Please know that this decision was not made lightly, and we continue to actively support a regulatory environment in Massachusetts that will allow Transamerica to resume LTC sales in the commonwealth, on a sustainable basis, and provide consumers there with all the benefits and advantages that this critical solution can bring.
All TransCare® II and TransCare® III drop tickets/ITBs and applications must be received in our home office no later than Midnight CT Tuesday, November 14, 2017. For all Massachusetts based association cases, the case will remain open and will allow non-Massachusetts residents to continue to apply.
Previously saved quotes on TransQuote® will no longer be available starting November 15, 2017.
Thank you for your patience as we work to provide LTC policies that best reflect the needs of your clients and state requirements.
Thank you for your business and your trust in Transamerica Life Insurance Company. For questions related to this announcement or other assistance with Long Term Care, please contact your dedicated Transamerica sales desk.

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Lincoln Reprices LifeElements and TermAccel to Reclaim “Top Three” Competitive Position

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The subject line says it all: Lincoln wants your Term Insurance business! Whether a small case or large, they have a product solution and a process that can make it easier than ever to do business with Lincoln Financial. Read on for the quick highlights of the reprice as well as the transition rules.

Highlights: LifeElements

Goals of the reprice include being a “top 3 carrier” with premiums reduced in 45% of the following core cells:

  • $1 million of death benefit at ages 45+ for all term periods
  • $500,000 of death benefit at ages 45+ for 15/20/30 year term periods
  • $500,000 of death benefit at ages 55+ for 10 year term period

Transition Guidelines: LifeElements

  • For states that are approved at rollout, there is a 60-day transition period which will begin on October 16, 2017 and end on December 15, 2017.
  • New applications received on or after October 16, 2017 and applications currently in underwriting that will be issued on or after October 16, 2017 will automatically receive the new Lincoln LifeElements® Level Term (2017) – 10/16/17 lower premiums, if applicable. A request to use the lower rates will not be required. If the application had been submitted with premium using the previously higher rates, the difference will be automatically refunded.
  • Beginning December 18, 2017, the new Lincoln LifeElements® Level Term (2017) – 10/16/17 rates will automatically be used for all cases.
  • For policies already issued, Lincoln will accept a written request to change to the Lincoln LifeElements® Level Term (2017) – 10/16/17 rates.
  • For policies already placed, Lincoln will not allow rewrites to the Lincoln LifeElements® Level Term (2017) – 10/16/17 rates.
  • For LincXpress® Tele-App Cases, a complete ticket and required solicitation forms* must be received within the same transition rules outlined above.
  • For states approved after rollout, the above will automatically apply based on the availability date.

HighLights: TermAccelGoals of the reprice include being a “top 3 carrier” for preferred and standard non-tobacco classes at $250,000 – $500,000 of death benefit at ages 30-50 with first place position in many cells.

Transition Guidelines: TermAccel

  • For states that are approved at rollout, there will be a 60-day transition period which begins on October 16, 2017 and ends December 15, 2017. Lincoln TermAccel® is not available in New York.
  • New applications received on or after October 16, 2017 and applications currently in underwriting that will be issued on or after October 16, 2017 will automatically receive the new lower premiums if applicable. A request to use the lower rates will not be required. If the application had been submitted with premium using the previously higher rates, the difference will be automatically refunded.
  • Beginning December 18, 2017, the new Lincoln TermAccel® – 10/16/17 reprice will automatically be used for all cases.
  • For policies already issued, Lincoln will accept a written request to change to the Lincoln TermAccel® 10/16/17 rates.
  • For policies already placed, Lincoln will not allow rewrites to the new Lincoln TermAccel® – 10/16/17 rates.
  • For states approved after rollout, the above will automatically apply based on the availability date.

For the balance of the details, please see the formal announcement from Lincoln in the most recent Lincoln Life Leader.

Updated Contacts at Jurs Montgomery

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New Minimum Face Amount Limits on Symetra UL-G, CAUL and Term products

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Sept. 18, 2017 Effective October 19, 2017 we will be increasing the minimum face amount limits on our Symetra UL-G, CAUL and Symetra Term products. These increases in face amount limits are consistent with other carriers. New minimum face amount limits are as follows:

Symetra UL-G and CAUL:       $100,000

Symetra Term:                         $250,000

Symetra UL-G, CAUL and Term Important Dates:

October 19, 2017 Symetra Life Illustrator and Winflex Illustration systems will be updated with the new face amount limits.

By October 20, 2017 all formal applications with face amounts below the new minimum must be received in good order (fully completed, signed and dated application) at the Symetra Home Office.

December 29, 2017 is the final date that policies with the lower minimum face amounts must be issued/paid. For 1035 exchange cases, the deadline date will be extended if the only outstanding requirement is the receipt of 1035 funds.

Give us a call with questions or for a quote today!  585-203-1206

Principal Universal Life Protector IVSM re-price coming in August

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What you need to know about the re-price

Effective August 28, 2017, we’ll be updating Principal Universal Life Protector IV pricing for new-issue policies. Taking this action helps ensure the ongoing viability of the product and allows us to continue to deliver on the commitments we have to current policyholders.

  • Rates will increase approximately 4 percent, with some rates higher and some lower than this overall average. By premium-paying pattern, average increases are:
    • Approximately 4-5 percent for level pay
    • Approximately 2 percent for single pay.
  • Applications must be received in good order in our home office by August 27 to receive current (5/2013) rates. Applications received after this date will receive new (8/2017) rates. View full transition guidelines.
  • Rates will be effective in all states and the District of Columbia.
  • You’ll be able to quote the new rates on August 28, 2017 from your normal illustration quoting platform. If you have specific cases you’re working on, you may request a quote from your Sales Desk representative beginning August 7, 2017.

Call us for a quote or more information

Contact Jurs Montgomery at 585-203-1206

Learn how to diversify your portfolio with tips from our carrier Principal!

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Learn more on how to grow your business by adding valuable assets like life insurance! Our carrier Principal is here to help with multiple marketing materials!

Check out this helpful educational video or possibly this easy to follow Principal Marketing Guide. Call us with questions or to get a quote! 585-203-1206

 

Also, are you on our mail list? Sign up on our home page today for monthly market updates!