Last updated: April 17
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Accordia
- Term Conversions Update. We're approaching another milestone in the transition to Accordia Life. From April 1, all term to permanent policy conversions will be to Accordia Life products. For more information, including an agent guide to our Guaranteed Term Conversion program.
American General
- Get to know the American Pathway SolutionsMYG. Discover a product that offers long-term protection with a guaranteed interest rate period of five, six or seven years in New York, and from five to 10 years in most other states. The American Pathway SolutionsMYG is an ideal choice for long-term savers who can appreciate: tax-deferred growth, protection from market volatility, and guaranteed income for life with annuitization.
Legal & General
- Compliance Guidelines Now Include Social Media. Legal & General America's social media guidelines differentiate between content that is static and content that is interactive. Static content is subject to review; interactive content is not, although at times the lines may be blurred.
Lincoln
- Enhanced Customer Service for Term Policies in Grace. Effective April 15, 2015, the Lincoln Customer Service Department will proactively call Lincoln LifeElements® Level Term (2013) policyowners (in the second policy year) whose policies have been in grace for 15 days and are in danger of lapsing. This enhanced customer service effort is being piloted to ensure our customers are not unintentionally left without coverage and to help preserve our agent's book of business. This is in addition to the standard written communications for policies entering grace. Please note: Lincoln will only speak directly with policyowners, and will follow the normal verification process as we do today. Lincoln is excited to be piloting this concierge service over the next three months to assist our clients in meeting their long term goals and to help ensure persistency within an agent's book of business. At the end of this period, we will evaluate results and feedback when deciding if and how to incorporate this program into a regular business practice
- During these calls, Lincoln customer service specialists will explore potential solutions to help policyowners stay in their existing policies.
- Potential solutions may include options such as: Changing the payment mode to better manage premium payments, setting up Electronic Funds Transfer, and exploring potential to qualify for a better underwriting class.
- Pending the nature of the conversation, the specialists may direct the policyowner back to his/her agent for further education or clarification; this may include situations where the client states they don't understand their coverage or are in need of permanent solutions.
Lincoln Benefit
- Legacy Secure UL Closing to Term Conversions. Lincoln Benefit Life's Legacy Secure UL® will no longer be available for term conversions after May 1, 2015. Please take note of the following transition rules and important dates. If you have any questions, please contact Lincoln Benefit Life at (800) 525-9287.
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- All Legacy Secure UL term conversion applications in good order dated on or before May 1, 2015 and received on or before May 15, 2015 will be issued.
- All Legacy Secure UL term conversion applications dated on or before May 1, 2015 and received after May 15, 2015 will be returned. A new application and required paperwork will need to be submitted for an alternate product.
Minnesota
- DBGA to be Removed From Accumulator VUL; Guaranteed Interest rate Lowered. Effective May 16, 2015, the Death Benefit Guarantee Agreement will no longer be issued on Accumulator VUL . At the same time, the Guaranteed Interest Account on all Accumulator VUL policies paid May 16, 2015 or later will receive a guaranteed minimum crediting rate of 2%, down from 3% currently. Accumulator VUL applications must be received in the Home Office and the initial premium must be paid by 5:00 pm on May 15, 2015 to receive the Death Benefit Guarantee Agreement and a 3% guaranteed minimum crediting rate on the Guaranteed Interest Account. For more information please contact your Life Sales Support Team: 1-877-696-6654 (Securian and Broker-Dealer partners) or 1-888-413-7860, Option 1 (Independent Brokerage).
Prudential
- Product Changes in Time for the Start of Summer. Do you have clients concerned with not living long enough (premature death) and/or living too long (outliving their retirement assets and chronic illness?) On May 1, 2015, Prudential will launch an improved PruLife® Custom Premier II and VUL Protector®. Don't miss our webinar on May 1.
- Conversion of Hartford Life Insurance Polices to TPA. On March 30 2015, Prudential is scheduled to convert the servicing of the Hartford block of life insurance policies to Alliance One, a licensed third party insurance administrator (TPA). Alliance One has a strong track record of providing quality service and we have outlined how firms, brokers, and clients can expect to interact with Alliance One.
