Advanced Markets
AXA
Section 79 Alternative
Section 79 plans are often marketed as a way to help sell cash value life insurance on a tax deductive basis with an aim at using cash values in retirement. There is an approach that is simpler to establish, may be selective, and, in most cases, can produce similar or better overall results. This piece will introduce a "Section 79 Alternative."
John Hancock
JHAM Radio
Stay Tuned:
Beneficiary Defective Inheritor's Trust with Dick Oshins
Recent Broadcasts:
Industry Developments from AALU with Marc Cadin
Life Insurance & 1035 Exchanges with Kevin Blanton
Combining Planning Strategies with Stacey Eastland
Fiduciary Liability with Melvin Warshaw
Real-Time Life Insurance with Melissa Wandall
Hockey-Stick or Shark-Fin CLATs with Don Jansen
Planning for Special Needs with Bernie Krooks
Captive Insurance Companies with David Provost
Product Choice & Prudence with Barry Flagg
Out-of-the-Park Planning Opportunities with Lee Slavutin
Season 5 with Stephan Leimberg and the State of Planning
Planning Opportunities in 2011 with Larry Brody
Click here to access JHAM Radio Broadcasts.
Gift Splitting How To
With the gift-giving opportunity provided by the 2010 Tax Act, do you have questions about how spouses can actually "split" a gift? Click here for more information.
Different Ways of Making the Gift
The 2010 Tax Act has simplified planning and made gift giving a whole lot easier! Click on the links below for information on different ways to make lifetime gifts.
Stepping Forward: Gifting & Selling Assets
Stepping Forward: Making the Gift
Making the Gift JH Solutions Presentation
Stepping Forward: Dynasty Trust
Life Insurance & 1035 Exchanges
Take a look at our new 1035 FAQ and the Because You Asked Policy Loans to get answers to your questions on 1035 exchanges.
JH Solutions . . . LIFE Solutions
Click here to see what JH Solutions is all about.
Invest in Your Lifetime with Protection UL
Go to www.InvestInYourLifetime.com to use our new interactive tool that graphs premium, death benefit, IRRs, cash values and life expectancy to illustrate how Protection UL can provide both liquidity and diversification of a set of estate holdings.
Asset Sales to Grantor Trusts
Click here to see the advantages of transferring the family business through the use of an installment sale.
Mutual of Omaha
Pairing an Executive Bonus Plan Using Universal Life Insurance and a Qualified Retirement Plan Can Establish You as an Expert with Your Business Clients
Companies are often looking for ways to provide tax-favored incentives for key executives, especially by providing retirement income benefits. Qualified plans can't provide enough income alone because the limited contributions allowed aren't enough to replace the income of a highly-paid executive at retirement. Combining a nonqualified executive bonus plan using universal life insurance with a qualified retirement plan could accomplish the goals of both the business owner and their key executives and help the business retain its top employees. Read more
Pacific Life
IRS Issues Guidance to Address Zero Estate Tax and Carryover Basis Election for 2010 Estates
Notice 2011-66 and Revenue Procedure 2011-41 provides guidance for executors of estates for individuals dying in 2010, for making the carryover basis election. Notice 2011-66 addresses how to make the election, while Revenue Procedure 2011-41 provides safe harbor guidance for allocating basis to property acquired from a decedent dying in 2010. Read more
Disability Insurance
Mutual of Omaha
How Can the Business Owner Upgrade Help Increase Your Business?
View this presentation to learn more about the business owner upgrade opportunity and how it can help increase your DI business. View Presentation
Marketing/Industry Updates
Allianz
Thursday, September 1 at 2pm CT: Join our webinar to make the most of Life Insurance Awareness Month
Life Insurance Awareness Month (LIAM) is coming in September. Produced by the LIFE Foundation, this month-long national ad campaign will educate the public about the value of life insurance. Read more
New Allianz Life Pro+ Fixed Index Universal Life Insurance Policy
Life Pro+ starts with an income-tax-free death benefit – but the protection goes beyond life insurance, so you can address several of your client’s financial concerns with one policy. Read more
American General
See how AG Choice Index GUL Stacks up to the Competition!
Compare benefits of key competitors to the new AG Choice Index GUL. Read more
Genworth
Holiday Notice
Genworth will be closed for the observance of the Labor Day holiday on Monday, September 5, 2011.
Agent Guidelines for Multiple-State Sales
Read more
Policyowners to be Notified of "For Cause" Agent Terminations
Read more
In-Force Rate Action State Implementation Announcement for Maine
Read more
John Hancock
Consider the Value of Protection UL: Low Cost with Basic Guarantees and Flexibility to Access Cash and Vary Premiums
Click here to see the new JH Solutions module, Flexible Planning with Protection UL and SUL, which illustrates the effects of crediting rate changes, comparisons to NLG products and side fund savings.
Lincoln Benefit
Life Insurance is Also for the Living
The words 'death benefit' make customers think that there is no benefit from life insurance until they die. Read about all of the living benefits of life insurance and make sure to tell your customers about them during the sales process. Click here
Variable Life and Annuity Licensing Requirements in IN
This is to advise that licensing requirements applicable to variable life and annuity products have been revised. As of July 1, 2011, a variable life and annuity qualification is required on a producer’s license. Read more
Lincoln Financial
Competitive Advantages of the NEW Lincoln LifeReserve IUL
Tell your clients to say goodbye to market risks and still get the income growth potential and death benefit protection they need. Lincoln LifeReserve® Indexed UL holds the key. Read more
Lincoln LifeReserve IUL – Share the Power of Protection!
The death benefit protection and cash value growth potential your clients want is here. With Lincoln LifeReserve® Indexed UL, they’ll get a guaranteed 1% minimum interest rate — even in a market downturn. Read more
MetLife
Update on FINRA Fees for Cancelled or Rescheduled Exams
Effective September 1, FINRA will impose a fee for canceling or rescheduling qualification examinations or Regulatory Element Continuing Education (CE) sessions within three to 10 business days prior to the appointment date. Click here for more information.
A Message from Mike Farrell
In this letter, Mike Farrell, Executive Vice President, U.S. Distribution talks about MetLife's long tradition of financial strength. He emphasizes a few key points demonstrating MetLife's financial strength and market leadership. More detailed information about MetLife's financial strength can be found in this Delivering on Our Promises piece.
MetLife Will Be Closed for Labor Day
MetLife will be closed on Monday, September 5, in honor of Labor Day. The life sales desk will also be closing early at 4:00pm EST on Friday, September 2. We apologize for any inconvenience.
Mutual of Omaha
Increase Your Life Sales: Let Your Producers Know About our Competitive GUL and GUL Plus Products
Use the attached electronic postcard and order the printed version to spread the word. You can order the printed version, with your contact information, through your normal ordering channel. Electronic Version, Printed Version
Pacific Life
Quarterly Fund Report for the Period Ending June 30, 2011 Now Available
In addition to most recent quarter-ending performance information, this report also provides you and your clients with statistical data such as Top Holdings, Significant Sectors, Portfolio Turnover Rates, Average Market Cap, etc. Read more
Principal
Depend on The Principal
As the economy continues on a bumpy path, you can depend on the Principal Financial Group®. For more than 130 years, we've been a leader in offering businesses, individuals and institutional clients a wide range of financial products and services. We've been offering life insurance since 1879 and retirement solutions for nearly 70 years. Read more
Protective Life
From the Road: Behind the Scenes with the A-Team
Get the dirt on how this road trip got started, learn the back story on the twisted and complicated lives of our A-team, and find out once and for all if Eunice and Snake are really an item. Read more
Transamerica
Massachusetts' Standards for Protection of Personal Information (AMB 3878)
Massachusetts has issued a regulation pertaining to the handling of its residents' personal information. Please note that in accordance with the provisions of general agents and producer contract(s) with Transamerica, general agents and producers are required to comply with the regulation if they own, license, store or maintain personal information about a resident of the Commonwealth of Massachusetts. To review the Notice and a copy of the regulation, click here. To review the Privacy Policy of Transamerica, click here.
Illinois' Revised Contract Language for Trendsetter® Policies
We will be updating the contract language for Trendsetter® policies that were sold to customers in Illinois between 2008 and 2010. The Company is sending revised contract pages to each affected customer. If applicable, general agents will receive a copy of the letter for each of the customers impacted. For questions, please contact the Customer Service department from 8 a.m. to 5 p.m. Central Time, Monday through Friday at 800-852-4678. To review a sample of the letter, as well as the updated contract pages that will be sent to each affected policy owner, click here.
West Coast Life
West Coast’s New UL Product Boasts Competitive “IRR”!
Click here to view
From the Road: Behind the Scenes with the A-Team
Get the dirt on how this road trip got started, learn the back story on the twisted and complicated lives of our A-team, and find out once and for all if Eunice and Snake are really an item. Read more
National Underwriter
Financial Advisors Skipping Life Conversations
Only 49% of the U.S. adults who have financial advisors and financial plans have talked to their advisors about adding life insurance to the plans…Read more
NAIC Panel Eyes COLI Exchange Proposal
Some state insurance regulators are looking into the idea of allowing tax-free exchanges of corporate-owned life insurance policies (COLI). Read more
Hit ‘Em Where It Hurts
Over the last year, I have read too many press releases, white papers and studies to count chronicling the difficulty in selling individual life in the U.S. marketplace. Last year’s dismal numbers from LIMRA surely confirm that, but more recent numbers suggest that at last, life sales are back on the rise. That’s all well and good, but the fact remains that according to the Insurance Information Institute, life sales in general still were outperformed in 2010 by health and disability insurance, and by annuities (by a large margin). Read more
Analysts: Product Repricing Coming
Claims could be a bigger concern for life insurers than capital ratios and asset valuations over the next 18 months…Read more
LIMRA: Life Sales Edge Higher
Annualized premium revenue from new U.S. individual life sales increased 1% during the second quarter -- and the number of policies sold and total face amount sold also rose 1%…Read more
Cerulli: Wirehouse Channel Losing Ground
The dually registered advisor channel could control 8.5% of client assets in 2012, according to Cerulli Associates Inc…Read more
NAIC Eyes Separate Account Rules
A subgroup at the National Association of Insurance Commissioners is asking whether the current regulatory framework for separate accounts makes sense, and whether guarantees have a legitimate place in a separate account…Read more
FINRA: Save Those Tweets, Texts, Calls, Etc.
Financial Industry Regulatory Authority Inc. communications record retention rules apply to all communications devices and technologies, FINRA officials say…Read more
Tweet This: Life Industry Eyes NAIC Social Media Draft
The team developing social media guidance for the National Association of Insurance Commissioners should define terms and avoid references to specific social media service providers…Read more
FSP Speaker Sees Worms in Estate Tax Portability Feature
The estate tax portability provision in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 could trip up advisors who fail to think ahead…Read more
New Business/Underwriting
American General
Revised Life Insurance Applications and Other New Business Forms
See bulletin 11-059 for complete details on state approvals, transition rules and a summary of changes, as well as links to application packets and Brainsharks.
Revised Life Insurance Applications Now Approved in Kansas, Massachusetts and New York
See bulletin 11-073 for NY transition rules. See bulletin 11-074 for KS and MA transition rules.
Wednesday, September 14 8am and 12pm PT: Tips for Doing Business Webinar
Mark your calendar for Wednesday, September 14th and join us for a webinar on Technology Tools. Click for details.
Non-PLMA Processing Reminder
Our Licensing and Commissions Department continues to take steps to ensure all agents are appropriately licensed and appointed in Non-PLMA states for new business applications submitted in Non-PLMA states. Learn more from bulletin.
Reminder: Premium Payments and Prohibited Transactions
Please be reminded that the Company prohibits certain practices regarding premium payments and policy ownership. Read for details
John Hancock
Need an Initial Underwriting Assessment Quickly?
This flyer highlights the various ways John Hancock Underwriters can quickly provide an initial underwriting assessment, along with applicable submission guidelines and service standards.
Lincoln Benefit
Variable Life and Annuity Licensing Requirements in IN
This is to advise that licensing requirements applicable to variable life and annuity products have been revised. As of July 1, 2011, a variable life and annuity qualification is required on a producer’s license. Read more
MetLife
Solutions Explores Seizures
The August Solutions looks at underwriting seizures and epilepsy. Click here to read more.
Transamerica
Updated U.S. Retention & Reinsurance Limits Flyer
Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company have revised retention and auto-issue limits to include the IUL products. To see the updated guidelines, click here.
Updated Foreign National Underwriting Country Assessments
Please make sure producers are aware that Transamerica does not provide coverage for proposed insureds residing in the following countries: Argentina, Cayman Islands, Greece, Kazakhstan, Russia, Saudi Arabia and Vietnam. For questions or for more information, please contact Chris Schneider via email at chris.schneider@transamerica.com. To review the updated country assessments, please visit TransACT®, or click here.
Massachusetts' Standards for Protection of Personal Information (AMB 3878)
Massachusetts has issued a regulation pertaining to the handling of its residents' personal information. Please note that in accordance with the provisions of general agents and producer contract(s) with Transamerica, general agents and producers are required to comply with the regulation if they own, license, store or maintain personal information about a resident of the Commonwealth of Massachusetts. To review the Notice and a copy of the regulation, click here. To review the Privacy Policy of Transamerica, click here.
Illinois' Revised Contract Language for Trendsetter® Policies
We will be updating the contract language for Trendsetter® policies that were sold to customers in Illinois between 2008 and 2010. The Company is sending revised contract pages to each affected customer. If applicable, general agents will receive a copy of the letter for each of the customers impacted. For questions, please contact the Customer Service department from 8 a.m. to 5 p.m. Central Time, Monday through Friday at 800-852-4678. To review a sample of the letter, as well as the updated contract pages that will be sent to each affected policy owner, click here.
Product
American General
Discontinuation of AG ROP Select-a-Term 15®
Effective October 1, 2011, the insurers of American General Life Companies will suspend sales of AG ROP Select-a-Term 15 level premium endowment term insurance.
AG Choice Index GULSM Approved in 5 New States Including California!
As of August 8, 2011, AG Choice Index GUL has been approved in the states of CA, MA, MO, NJ, VA and will replace ContinUL Extend Plus. Read the bulletinfor the transition rules.
Lincoln Financial
Lincoln LifeGuarantee® SUL (2009) and Lincoln LifeGuarantee® UL (2009) – Heavily Funded OptionsRetiring on September 15, 2011
Effective Thursday, September 15, 2011, Lincoln will limit the sale of heavily funded business on Lincoln LifeGuarantee® SUL (2009) in the 7 jurisdictions (CA, HI, NJ,NY, PA, VT, and VI) where the product is still available, and in all jurisdictions for Lincoln LifeGuarantee® UL (2009). This action is necessary because Lincoln is still subject to the same low interest rate environment that forced increased single pay type premiums on the new version of the products. Read more
Special Guidance for New York Replacement Regulation 60
Lincoln LifeGuarantee® UL (2009) – Heavily Funded Options Retiring Transition Date. New York Replacement Regulation 60 imposes a 25-day timeline delay for applications submitted for replacement business. Read more
Lincoln Reintroduces the VUL Dollar Cost Averaging Fixed Account Enhanced Interest Rate Program
Reprinted from the May 31, 2011 Lincoln Life Leader
Lincoln is pleased to reintroduce the VUL Dollar Cost Averaging Fixed Account Enhanced Interest Rate Program. This program includes a 10% Fixed Account enhanced current interest rate to help with short-term returns while the client transfers funds into variable investment options using a 12-month Dollar Cost Averaging (DCA) program. Read more
Clarification - Minimum Face Amount - Lincoln LifeReserve® UL product Update
Recently Lincoln announced that it will be increasing the minimum face amount for fully underwritten Lincoln LifeReserve® UL cases to $100,000, up from the current $25,000 minimum. While this action is critical to the ongoing profitability of the product, further examination shows that the issue is primarily with the less than desired placement ratio on cases at the older ages, 71 and over where underwriting costs increase. Read more
MetLife
Equity Advantage VUL GMDB Rider Premiums Being Reduced
Effective for policies applied for on or after September 26, the Guaranteed Minimum Death Benefit (GMDB) Rider on Equity Advantage Variable Universal Life (VUL) will be repriced and may be reduced by up to 35%. Please click here for additional details.
Mutual of Omaha
September's Universal Life Interest Rates for United of Omaha and Companion Life Insurance Company
United of Omaha Rates, Companion Life Insurance Company Rates
Transamerica
TransACE® Surrender Flexibility Endorsement Approved in California
Effective immediately, the TransACE® Surrender Flexibility Endorsement has been approved in California. To review the previously issued bulletin and the updated Authorization to Sell Bulletin, please click here.
New Jersey and Vermont Approve IUL Products for Sale
New Jersey and Vermont have approved the Freedom Index Universal Life IISM and Freedom Global IUL IISM products for sale, effective August 24. To review the updated Authorization to Sell Bulletin, please click here.
Reminder: Interest-Sensitive Life Products Interest Rates to Decrease
New money interest rates credited on TransUltra® SP, TransUltra® SP NY, TransUltra Plus® and TransProtector® will be decreased, effective Monday, September 19, 2011. The rates now in effect will be credited to all premium received in the Cedar Rapids administrative office by the close of business on Friday, September 16, 2011. If a 1035 exchange is in process, the money must be received by September 16, 2011, in order to receive the higher rate now in effect. To review the bulletin, click here.
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