Annuity and Long Term Care (LTC) Updates
May 16, 2011

Priority Items in Red!

Annuities

 

*Click Here To Access NIB’s Multi-Year Guaranteed Annuities (MYGA) Rates*

 

American General

Annuity Rates Are Changing
View new rates

Wisconsin Agent Annuity Training Requirements
As of May 1, 2011 Wisconsin requires producers who solicit annuities to complete the Company's Product Training prior to soliciting any annuity products.

 

Deferred Annuity Rate Change And...
Click to read or download the new rate sheet. Commission on AG Global 6 sold in New York will be modified as of May 30, 2011.  Please check http://estation.americangeneral.com for your new annuity commission schedule.

 

Genworth

Genworth Rates Are Decreasing Effective 05/18/11
As of 5/18, all SPDA rates will decrease. In order to lock in the higher rates, applications need to be signed on or before 5/17 and received at Genworth with money/transfer paperwork within 14 days of the application sign date. Click on the links below for the new rate flyers along with submission guidelines.

 

National Rates
New York Rates
National Submission Guidelines
New York Submission Guidelines 

 

More Than 60% Of The Population Learns Visually; Use Illustrations To Sell More Genworth Annuities
Think for a moment how you communicate with clients to build relationships.  Birthday Cards, Anniversary Cards, Christmas or Hanukkah Cards, Special Occasions Cards, sales e-mails, fliers, etc...  Why do you communicate this way to build a connection to the client? The impact of receiving something sends a positive message to the client that you are interested in them and their future.  If that’s the case, when selling annuities, why do we just discuss rates and product features? An illustration has the same effect of visually communicating to the client the importance of an annuity.  An illustration should be used on every presentation because it can bring your client into the conversation in a positive way.  An illustration is a vivid way to show clients that their money is always growing in a fixed annuity, and it gives an agent the ability to easily explain all of the features of the annuity. Here are four things your agents should focus on when using a fixed annuity illustration:

 

  1. More than 60% of the population learns visually.  When trying to explain financial matters, it is best to use a picture to support the concept. “Every picture tells a story”….It will give a client a better understanding of the concept and will help close more sales.

 

  1. Focus on the Contract Value column. Even if rates are perceived to be low, this column illustrates that their money continues to grow, and probably more than they would have thought otherwise.  You may also use any one year’s ending value to explain liquidity and other income options available to the client.

 

  1. Point out the Surrender Value column, which is often ignored because agents are afraid to talk about what it means to the client. In addition to explaining the surrender charges, you can show clients that even in the worst case scenario, they are likely to earn more in an annuity than they would where they currently have their money, especially in today’s rate environment.  This is where you can really show a client that their money is growing and how costly it is for them to keep their money on the sidelines.

 

  1. Use a picture, positioning each section of the illustration to show your clients the value of what they may be buying, and give them a better level of understanding. This can help show your clients that they can make their money work for them.  

 

CD vs. Annuity

Rate Saver Hypothetical Illustration
Smart Rate Hypothetical  Illustration

New Customizable Genworth SPIA flyer Showing Payout Rates
Click here for our new customizable SPIA flyer showing current annual payout rates based on a 70, 75 and 80 year old male. Also included is an illustration that shows how we got the 7.3% (annual payout) for a 70 year old male. We are basing the payout on Installment Refund. Your agents' clients can get a high payout they can't outlive with a guaranteed return of premium. If your client can find an income source with payouts higher than offered in a Genworth SPIA, like Lee Iacocca would say, “I would buy it.” Take a look at what a Genworth SPIA can do for your clients. More tax efficient income with less cost and enhanced liquidity features too!! Click here for the Income Withdrawal and Income Advance Brochure.

 

Lincoln Financial

Lincoln Fixed Annuity Leader - May 2011

  • Premium Bonus Rate Enhancement for Lincoln OptiPoint® 8 & 10
  • Coming Soon ... Lincoln Lifetime IncomeSM Edge

  • Guaranteed Minimum Interest Rate Changing Effective June 1, 2011

  • Lincoln OptiPoint® 12, Lincoln ClassicSM, and Lincoln GrowSmartSM Will No Longer be Available for New Sales

  • Extended Hours for Contact Center

  • Prescription Drug List Q&A for Lincoln Long-Term CareSM Fixed Annuity

  • Maximum Issue Age Exceptions Require Attorney / Accountant Signature

  • Updated Replacement Form and New LTC Training Requirements for Utah

  • New York Requires Product-Specific Training

 

Click here to view

National Underwriter

Utah Regulators Issue Surrender Charge Bulletin
The Utah Insurance Department has put out a bulletin giving its views on individual annuity surrender charges…Read more

 

Protective Life

Annuity Interest Rate Notification
Interest Rate Notification Summary
Interest Rate Notification Summary - Registered Products
Interest Rate Notification Summary - Unregistered Products

 

(Click the links above to view the PDF files, or right-click to save to your desktop.) 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

 

Custom Care III And Core Care Available To Sell In 35 States
Read this article to learn more about these new products, as well as new and revised training and marketing materials. 

Microsite: www.CustomCareIIICoreCare.com
Facts-at-a-Glance, Form: LTC-8022
Customizable Flier, Form: LTC-8026

Download The Latest National Training And Partnership Resource Guide
The guide has been updated to reflect new training requirements in Utah. It also provides you with all you need to know about state training requirements, deadlines, and resources on how to submit proof of certification. Form: LTC-3251

 

Lincoln Financial

Lincoln MoneyGuard® Reserve Plus
Get the best value for your business and your clients with Lincoln MoneyGuard Reserve Plus and streamlined processing. With Lincoln, you’ll have… Read more

 

MetLife

Edward Jones Update
Click here


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.

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