Annuity and Long Term Care (LTC) Updates
August 8, 2011

Priority Items in Red!

Annuities

 

American General

 

Annuity Rates Changed
View new rates.

 

AG Lifetime Income Builder - Optional Living Benefit Rider for Index Annuities
A 6% roll-up for up to 20 years can build a strong income base. And it offers a lifetime income guaranteed to never decrease, even if the annuity value is ZERO! Click here for more information.

 

AG Lifetime Income BuilderSM
Optional living benefit rider for index annuities.

 

North Dakota Agent Annuity Training Requirements
Effective August 1, 2011 North Dakota requires producers who solicit annuities to complete the company's product training AND a four-hour annuity course prior to soliciting any annuity products.

Genworth

Help Your Clients Reach Agreement on Balancing Their Budget
Are you using Genworth SPDA and SPIA to help your clients reduce spending and guarantee income?  

  • SPIAs provide tax-favored income:

    • A SPIA payment is a return of principal and some interest; only part of the payment is taxable, whereas all  income from a CD is taxable.

  • Free up money with income from a SPIA:

    • Instead of paying annual premium on your life insurance or LTC policy, use a  SPIA  to fund these policies – with LTC funding, this can be a  tax free event

  • Reduce your tax burden and grow money faster and safely with an SPDA:

    • With a CD you pay taxes every year on your growth, with a SPDA you don’t pay taxes until you make a withdrawal. Plus, a CD must have a higher yield to equal the tax- deferred yield of an SPDA.

Apply a balanced approach to your clients needs and give them more money to work with over time.

SecureLiving Rates
SecureLiving Rate Saver Custom Flyer
CD vs. Annuity Flyer

 

Still Waiting for Rates to Go Up? Act Now or You May Be Wondering "What Happened?"
You may have heard this one before...... There are three types of people: people that make it happen, people that let it happen, and people that say "what happened?"

The 10 year treasury closed on Aug. 4 at 2.77%, the lowest it has been since Oct. 8, 2010.  It is quite possible that rates will drop next week. Take advantage of what we have to offer here at Genworth and send out this link below to your agents who have clients who keep waiting on the sidelines:

http://genworth.ewb.dowjones.com/Article/default.aspx?an=DJI0000020110329e73t001i2 

 

Remember, everything is relative and relatively speaking, fixed annuities are still a great option. The cost of waiting continues to impact clients who are waiting for rates to rise. Use an illustration and make it a dollars and cents conversation - show clients how their money grows tax-deferred over time and compare CDs averaging 1.64% for 5 years for $100k to annuities averaging 3.15% for 7 years tax-deferred.  Here's a link to a calculator that compares taxable vs. tax-deferred growth:   http://www.dinkytown.net/java/InvestCompare.html

 

Power of Tax Deferral Flyer

 

Rates are Decreasing Effective Wednesday, August 10
Effective Wednesday August 10th, 2011 rates are decreasing on all of our SPDA products. In order to lock in the current higher rates, paperwork must be signed no later than Tuesday August 9 and received by Genworth within 14 days of the signed date with funds or original 1035/transfer paperwork. For complete details regarding 1035/transfers, please refer to the attached submission guidelines.


National Rates
National Submission Guidelines
NY Rates
NY Submission Guidelines

ING


Indiana Requires Producers Selling Variable Life and Annuity Products to be Licensed for Variable Life and Annuity Authority
See this bulletin for details.

 

Lincoln Financial

Updated Lincoln Fixed Annuity Rates
Fixed annuity rate changes are effective 8/1/2011. Fixed indexed annuity rate changes are effective for applications received on or after 8/1/2011. Click here for details.

 

National Underwriter

NAIC Panel Adopts Annuity Disclosure Model Revisions
The Life Insurance and Annuities Committee of the National Association of Insurance Commissioners has endorsed a proposal to add an annuity illustrations section to the NAIC's Annuity Disclosure Model Regulation…Read more

 

Protective Life

Annuity Interest Rate Notification
Interest Rate Notification Summary - Click the links to view the PDF file, or right-click to save to your desktop.
Interest Rate Notification Summary - Registered Products
Interest Rate Notification Summary  - Unregistered Products

For individual product rate sheets, please visit the Protective Producer Center (for unregistered representatives) or the Protective Advisor Center (for registered representatives), and log in.

 

West Coast Life

Annuity Interest Rate Notification
Interest Rate Notification - Click the link to view the PDF file, or right-click to save to your desktop. For individual product rate sheets, please visit the Agent Center and log in.

 

LTC

 

John Hancock

Assess Clients’ LTC Knowledge with the Interactive Quiz – Now in 33 States
The newly updated quiz brochure, "What Do You Know about Long Term Care?" is designed as an interactive piece that will help assess your clients’ knowledge of LTC issues and get them thinking about LTC planning. Form: ICC11-LTC-8006

Highlight our Caregiver Support Services Benefit with New Brochure
The impact of caregiving can be stressful and financially straining — but there is help. Our newly updated brochure shows the benefits available to help clients relieve some of the strain. Forms: ICC11-LTC-8080, LTC-8080

Learn How CPI-Linked Inflation Keeps Track with the Cost of Care - New Brochure
This brochure helps to explain how the CPI-linked inflation options we offer can help coverage keep pace with the future cost of care. Forms: ICC11-LTC-8076, LTC-8076

Commissions Less Than $50 to be Held Until Minimum is Met
This is a reminder that effective September 1, 2011 we will implement a minimum commission payment. If you earn commissions of less than $50 during a commission period, your check/direct deposit will not be generated until the minimum has been reached. Once the minimum has been met, you will receive payment and you will also be mailed a statement.

 

Issue with ‘Spouse Status’ Field on eHansel
A glitch that applies an incorrect discount in eHansel has been identified. It impacts those who are running a Custom Care II Enhanced quote with the Spouse Status field set to ‘Not Applying’ and then attempt to run a Custom Care III quote without clicking the ‘Start New Case’ tab. Click here for a tip on how to avoid this temporary issue.

Download the New Web Site Collateral Guide
Use this new flier for a quick snapshot of each of John Hancock long-term care websites. Form: LTC-1045

WA: Applicants Must Complete Medical History on Application
This is reminder that applicants must complete the medical history section of the application, not the producer or representative of the insurer.

Download the Latest National Training and Partnership Resource Guide
The guide has recently been updated. Be sure to review it for all you need to know about state training requirements, deadlines, and resources on how to submit proof of certification. Form: LTC-3251

 

Mutual of Omaha

New LTCi Training Requirements for Alaska
Just announced: new LTCi training requirements for Alaska. Check out the details

 

Revised Mutual Care at Work Highlight Sheets Now Available
Be sure to check out the revised Mutual Care highlight sheets available on Sales Professional Access. 3 to 9 Employees Highlight Sheet | 10 Plus Employees Highlight Sheet

 

National Underwriter

Window of Opportunity
The Community Living Assistance Services and Support Act (CLASS) was signed into law on March 23, 2010, and is a national, voluntary long-term care insurance program that was buried deep within the Affordable Care Act. CLASS is designed to make insured long-term care coverage available to more people by shifting the burden from government-supported programs to the insured. Read more

 

Nationwide

Offer Clients Long Term Care Coverage They're Comfortable With
You've probably encountered clients reluctant to purchase a traditional long-term care policy. Aren't their most common concerns… read more

 

This material was gathered by National Financial Partners Corp. (NFP), its subsidiaries, or affiliates for their Registered Representatives, Investment Advisor Representatives, and/or Agents. Not for client distribution.

Securities may be offered through Registered Representatives of NFP Securities, Inc., a Broker/Dealer and Member FINRA/SIPC. Investment Advisory Services may be offered through Investment Advisory Representatives of NFP Securities, Inc. a Federally Registered Investment Adviser. 1250 Capital of Texas Hwy., Bldg. 2 - Ste. 125 – Austin, TX 78746 (512)697-6000. NFP Life Brokerage is a division of NFP Insurance Services, Inc. which is a subsidiary of National Financial Partners Corp, the parent company of NFP Securities, Inc.

Neither NFP Securities, Inc., nor NFP Life Brokerage offer tax or legal advice. Clients should consult with their individual tax and legal professionals prior to entering into such transactions.

This advertisement is for insurance agents and financial professionals only; not for use with the public. National Insurance Brokerage, LLC is a Florida licensed life insurance agency that does business under the name NB Life Insurance Services, LLC in California, NB Life Insurance Services in Georgia, NIB Insurance Brokerage in New York, and NIB Insurance Brokerage, LLC in Texas. Location and mailing address: National Insurance Brokerage, LLC, 2101 Park Center Drive, Suite 220, Orlando, FL 32835. Unsubscribe or update your e-mail preferences.