Last Updated: April 19
AIG
- IUL/VUL Non-Medical underwriting. Effective April 16, non-medical underwriting for Max Acccumulator+ and AG Platinum Choice VUL 2 will be available.
- Revised NY Reg 60 Forms Now Available. In an effort to streamline and provide a consistent approach across annuity products, we have updated required forms for The United States Life Insurance Company in the City of New York (US Life). The change is in response to the New York State Department of Financial Services recent approval of revised replacement forms.
- AG Secure Survivor GUL® II - Face Amount Capped at $5,000,000. Effective April 14th, AG Secure Survivor GUL II sales will be limited to death benefit face amounts up to and including $5,000,000. This change is specific to AG Secure Survivor GUL II only. This does not affect our individual product Secure Lifetime GUL 3. While we strive to hold the product specifications steady, the long-standing interest rate environment continues to put pressure on the industry. To ensure we stay focused on our commitment to deliver higher value to both you and your clients, a face amount cap is necessary. Transition Rules – New Face Amount Cap Effective April 14, 2018:
- AG Secure Survivor GUL II applications received on or after April 14th will be subject to this new death benefit face amount cap.
- To avoid the face amount cap on the AG Secure Survivor GUL II product, applications must be received on or before April 13, 2018.
Need help with any of AIG's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Brighthouse
- Discontinuation of Class Match. With the introduction of the Simple Underwriting process, Brighthouse has discontinued the use of the Class Match program as of February 12, 2018.
Need help with any of Brighthouse's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Mutual of Omaha
- Get the Details on Our Sweet New IUL Rates. On April 1, we will lower the premiums to guarantee coverage to age 85 for most scenarios – in some cases, by as much as 25 percent! This means that clients can get guaranteed coverage throughout their life expectancy for even less. Plus, we still offer: (a) the same competitive premiums when solving to carry to age 120 at conservative rates, (b) Value-added features, such as the Guaranteed Refund Option rider and Accelerated Death Benefit Riders for Terminal and Chronic Illness, and (c) Age-last-birthday pricing.
Need help with any of Mutual of Omaha's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Pacific Life
- Introducing: PL Promise Conversion UL Product for PL Promise Term Conversions in California. Beginning April 13, 2018, PL Promise Conversion UL universal life insurance (UL) is available upon conversion from existing PL Promise Term life insurance policies in California (CA). All form repositories and available distributors have been notified of the new product availability. PL Promise Conversion UL is:
- Available without additional underwriting upon conversion from PL Promise Term
- Competitively priced guaranteed No-Lapse UL design
- Return of premium feature in policy years 15, 20, and 25
- Up to 150% of normal compensation paid upon early conversion
- Introducing Reprice on PL Promise Term Life Insurance. As of April 16, 2018, PL Promise Term life insurance just got more competitive. Check out our new premiums, plus other great news. You can rely on Pacific Life to deliver consistent, competitive pricing and automated, simple solutions. Premium decreases focused on achieving top 3 premium ranking in the following areas: 25-year term duration, select risk class, and applicants age 50-60. The new PL Promise Term rates go into effect beginning April 16, 2018. A 60-day transition period from April 16, 2018 through June 14, 2018 is provided. A request to use the lower rates is not required and any premium received with an application using the higher rate will automatically be refunded. Click link above for more details.
Need help with any of Pacific Life's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Principal
- Introducing UL Flex III. This latest version features the new 2017 CSO rates and offers the same great benefits you’ve come to appreciate with UL Flex II.
Need help with any of Principal's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
SBLI
- E-Policy Delivery System. As of April 12, the e-policy delivery system will be introduced. From this point forward, if your agency has not opted-out and a qualified applicant has authorized it, then following a policy’s issue an email will be sent directly to your client providing them access to their policy. If your agency is set up for automatic case updates with us, then you can update your own preferences from April 12 onwards to ensure your agency is notified of e-policy deliveries. If you are not but you wish to be sent automatic updates, contact us at 1-888-224-7254 to begin receiving them.
- Exclusive New Service: LegacyShield. SBLI has partnered with LegacyShield1 to offer our customers a complimentary subscription2 to Shield and FinancialView. These highly-secure online tools will help your clients store, organize, and manage their critical personal and financial information. They will also ensure that this information won’t ever be lost or misplaced. Please note, the complimentary subscription to Shield and FinancialView will be offered to all SBLI clients.
- Shield is a legacy planning platform which provides unlimited and secure storage for your life insurance policy and other important documents, last wishes, life lessons, and personal items such as family photos and videos.
- FinancialView gathers all of your account balances from multiple financial institutions and organizes them into a single, intuitive online dashboard.
- New Mutual Company Business Forms. As part of our transition to a mutual company, we are introducing a new set of new business forms. In addition, we are also introducing the Policy E-Application & E-Delivery Authorization & Disclosure Form (N-EAD) to gain client consent for an e-application, e-policy delivery and for the transfer of your client’s name and policyholder number to LegacyShield. This form is completed automatically with any ticket or application submission that has a telephone interview, and it is a new form in all application packages.
Need help with any of SBLI's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
Transamerica
- Discontinuing Payroll Allotment Option for Final Expense Products. Transamerica has determined payroll allotment will no longer be an option for Final Expense products due to market conditions, effective April 16, 2018.
Need help with any of Transamerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
