Advanced Markets
ING
Gift, Estate and Generation Skipping Transfer Exemptions & Rates
Handy one-page exemptions and rates "card" gives distributors the current exemptions and rates (from 2009 until 2013) for the gift, estate and GST taxes. You can use this to supplement the updated consumer brochures. Available electronically or for order using eship #159931. These materials have been updated and are available for download on the Wealth Transfer/Estate Planning Microsite or for order on ING for Professionals.
Federal Transfer Tax Chaos Part 8: Are 2011-2012 Gifts in Excess of $1,000,000 Subject to a "Claw Back?"
The two year gifting window created by The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (TRA 2010) may create an extremely valuable wealth transfer opportunity for wealthy families. This part of the series provides information on the potential "claw back" issue. Available electronically using eship #159947.
John Hancock
Fiduciary Liability of a Trustee with Melvin Warshaw, JH Advanced Markets Radio
At the May 2011 annual meeting of the Association of Advanced Life Underwriters, Randy Zipse of John Hancock's Advanced Markets Group joined Mary Ann Mancini of Washington's Bryan Cave LLC and Melvin Warshaw of Financial Architects Partners to discuss policy valuation. We have attached below a link to Melvin Warshaw's recent article in Trusts & Estates on this topic for your review. In addition, we re-air a recent show with Melvin Warshaw, JD, LLM, SVP and General Counsel of Financial Architects Partners who discusses fiduciary liability of a trustee, and the significance of product choice---- including the need to be careful when planning with guaranteed products. Click here to read Melvin Warshaw's article on Policy Valuation. Click here to listen to today's JHAM Radio re-air.
Lincoln Benefit
Trusts - Not Just for the Wealthy
Trusts are often categorized as expensive, complicated vehicles designed exclusively for wealthy estate owners to avoid paying estate taxes---but they can be a very useful estate planning tool for the masses. Only trusts can help estate owners accomplish specific planning goals more effectively than any other estate planning technique. Read more
Marketing/Industry Updates
NFP
Product Updates
05/02: ING – First Year Blending using the ATR on all Accumulation Products – DISCONTINUED (scheduling future increases using ATR will remain available)
Prudential – SUL Protector (reprice mostly consisting of decreases with life pays seeing decreases on average of 15% and single and short pays on average about 7%; there were some price increases above around age 70; new max issue age of 85; new 5-yr min premium floor; removing DB Option B)
AXA – Incentive Life Optimizer II & Athena Indexed UL (new Cash Value Plus Rider)
05/09: Hartford – Leaders VUL Joint Legacy II (added the LifeAccess Accelerated Benefit Rider)
05/12: John Hancock – Protection SUL 11 (reprice consisting of life pays decreasing on avg. 10% but up to 20% at the older ages, 65-75, and 10-pays decreasing on avg. 15% but up to about 23%; there were some premium increases at the younger ages, below 45, and older ages, 80+; replaces the Performance SUL 10)
05/16: Lincoln Benefit Life – Legacy Secure SL (reprice consisting of lifetime guarantee life-pays increasing very little below age 60 and about 2%, ranging 1-7%, above age 60; 10-pays increased on average about 3%; single pays increased on average 6%, ranging 2-14%; limited guaranteed and table rated cases experienced just about the same changes; targets did not change; removed six times target premium limit; increasing the max face amount cap from $5MM to $20MM)
Protective – Premiere III Xpress (new VUL; simplified issue; issue ages 30-55; $20K max premium; intended for income distributions)
05/20: American General – Select-a-Term (new Select Income Rider; provides a guaranteed monthly income for a specified period of time in addition to the lump sum death benefit)
05/22: Principal – UL Protector IV (reprice)
05/23: Genworth – Colony LifeLong UL (new UL-NLG)
AVIVA – Advantage Builder IV (reprice; replaces the Advantage Builder III)
AVIVA – Guarantee UL Solution III (reprice; replaces the Guarantee UL Solution II)
Allianz – Life Pro + (new IUL)
Upcoming:
06/01: Nationwide – YourLife No-Lapse Guarantee UL (reprice; increasing rates)
06/06: Lincoln Financial – LifeElements Level Term 2011 (rate improvements for all term periods for higher face amounts at ages 50+; in NY the conversion period is now equal to the later of the end of the 5th policy year or before attained age 70, formerly attained age 60)
June: Sun Life – Sun Care WL (new WL/LTC product)
American General
High Five!
The 5 Point Play has been extended through December 31, 2011 -- meaning a 5 point increase in writing agent compensation on most UL products! Read the flyer for details and send the fillable version to producers in your downline.
Earn Extra Commission...Without Selling!
Over $850,000 in commissions have been generated through American General's recent AD&D direct marketing efforts. Make sure you're eligible to take advantage of this opportunity!
Watch. Create. Share.
In three easy steps you can create a short customized video to share with your organization. Learn more here or visit www.aglifevideos.com to get started today.
Select Income RiderSM for AG Select-a-Term®
A powerful insurance combination for families: guaranteed monthly income in addition to a lump-sum death benefit.
State Restrictions for Initial Credit Card Payments
As a reminder, credit cards are not an acceptable form of payment for initial premium for policies issued in the following states: AK, NJ, NC, MD, and NY. Please review for effective dates.
Newsletter Options
You can see all pieces referenced in this newsletter, all in one document. Download it now; print it and take it with you to read Fast Track at your convenience, wherever or whenever that may be! A printer-friendly version of this newsletter is also available.
AXA
Athena UL Marketing Products
Click here to access.
Genworth
A Message from Anthony Vossenberg: Brian Bulakites Named Life Insurance National Sales Manager
Brian Bulakites, CLU®, ChFC®, has been promoted to National Sales Manager, Life Insurance. Read more.
Genworth Ad Featured in Wall Street Journal
On June 1, the Wall Street Journal included a special edition entitled Return on Life, which will include our latest life insurance advertisement. Click here to view.
Multi-Life Offering
Genworth offers a flexible and competitive Multi-Life Offering which includes Long Term Care Business Solutions and our Multi-Life Program using the individual products Privileged Choice® and Classic Select® Read more
ING
Straight Speak
Click here to view the new Q1 2011 quarterly financial update, Straight Speak. It is also posted on ING for Professionalsunder the "Highlights > Important Information" section. Please note that Straight Speak is approved for agent use only. It is not available for public distribution.
Lincoln Benefit
Trusts - Not Just for the Wealthy
Trusts are often categorized as expensive, complicated vehicles designed exclusively for wealthy estate owners to avoid paying estate taxes---but they can be a very useful estate planning tool for the masses. Only trusts can help estate owners accomplish specific planning goals more effectively than any other estate planning technique. Read more
Facts of Your Life
The Facts of Your Life booklet helps customers keep records organized and can reduce stress for loved ones. This booklet can now be completed electronically, making the booklet easier to update as the information changes. Each time a change is made customers should print and sign the booklet. Click hereto view.
A Little Extra Cash for College
Parents who want to save a little extra for their children’s education may want to consider universal life insurance. It provides protection in case of the unexpected when children are young. Then, when it comes time to send children to college, they can take loans or withdrawals from their policy to help pay for some of the college expenses. Read more
Lincoln Financial
Seek growth potential with the Lincoln DCA program!
The DCA Fixed Account enhanced interest rate program introduces your clients to a way of seeking growth potential with decreased volatility. DCA is an optional systematic program that automatically moves dollars from the designated DCA holding account to variable accounts that have been chosen. Read more
MetLife
Digital Marketing Survey
Click here to view
Life Compensation is "Going Green"
Life Compensation is supporting a “going green” initiative by eliminating paper commission statements to Third Party Distribution General Agencies. The last paper statement will be mailed June 24. Click here to view the notice.
West Coast Life
Breaking News: Agent Reels in the Big One!
Aaron Coleman, an agent with West Coast Life, took his "Go Fish!" tackle box with him to the Salmon River in Idaho, and look what he caught. The West Coast Life Tackle Box helped him reel in the big one! We want to hear your big fish stories! Drop us a line to let us know what you've caught! Read more
National Underwriter
Moody's: Unclaimed Property Costs to Hit Reputational Capital
State investigations of life insurers' claim payment practices may do more damage to the insurers' image than to their surplus…Read more
Analysts: Europe May Change Life Product Tax Rules
European countries' efforts to increase tax revenue may erode the tax advantages life products in those countries now enjoy…Read more
New Jersey Opens Captive Program
The New Jersey Department of Banking and Insurance has started taking applications from companies that want to form captive insurers in New Jersey or move existing captives to the Garden State…Read more
Product
American General
Elite Global Plus® and Elite Global Survivor® Now Offer Monthly Modal Premiums
As a market leader in product innovation and development, American General Life Companies is pleased to announce that on May 23, 2011 a new enhancement was added to our Elite Global Plus and Elite Global Survivor products. Responding to requests, we are expanding both products to allow monthly premium modes in addition to the existing premium modes. This change will allow you to illustrate monthly, quarterly, semi-annual and annual modal premiums for your clients and will reflect the needs of our growing consumer base.
Genworth
Introducing ColonySM LifeLong UL from the Genworth Financial Companies
Effective May 23, 2011, ColonySM LifeLong UL is now available for sale. Read more. For more information and marketing materials, click here.
Lincoln Financial
Coming Soon! Lincoln LifeElements® Level Term (2011)
On June 6, 2011, Lincoln will release the latest update to the Term product portfolio, Lincoln LifeElements® Level Term (2011). Rates for all four term periods were improved for many of ourhigher-face amount clients at ages 50 and older. Read more
Monthly Interest Rate Report
Read more
MetLife
Legacy Advantage Survivorship Universal Life Product Update
June 3 was the last date for applications to be signed, dated and received in good order, in the home office to receive the old Legacy Advantage SUL rates. Click here for important details.
Nationwide
Commission increase for Nationwide YourLife Single Premium UL effective May 23, 2011
At Nationwide®, we continually monitor our product suite and make enhancements whenever possible. As a part of our effort, we're increasing our gross commission payout on Nationwide YourLife Single Premium UL. Read more
Protective Life
ProClassicSM UL Credited Rate Change Effective July 1, 2011
Due to the current interest rate environment and its impact on our portfolio interest crediting methodology, we will lower the ProClassicSM UL credited interest rate by 0.65% effective July 1, 2011 for new and in-force policies. Read more
Transamerica
Reminder: TransUltra Plus® NY to be Withdrawn from Sale in New York
While TransUltra® NY will continue to be available for sale, TransUltra Plus® NY will be discontinued. Complete applications in good order must be signed by June 15, 2011, and received in Cedar Rapids by June 30, 2011. TransUltra remains available for sale in the other U.S. jurisdictions where presently available.
West Coast Life
ExtendCare & CIADB Approved in IL, LifeTime Advantage Plus Rate Change
West Coast Life's ExtendCare Rider and Chronic Illness Accelerated Death Benefit (CIADB) Rider are available for sale within the state of Illinois effective Tuesday, May 31, 2011. Go here for additional information. Effective July 1, 2011, the LifeTime Advantage PlusSM UL credited interest rate will be 4.75% for new and in-force policies. Go here to read more.
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