December 2023 Carrier Updates

December 2023 Carrier Updates

Last Updated: December 28

In addition to the carrier updates below, you may also be interested in:

Carriers with updates below:

Allianz
American National
Corebridge
John Hancock
Legal & General America
Lincoln
MassMutual
MetLife
Mutual of Omaha
Nationwide
OneAmerica
Pacific Life
Principal
Protective
Prudential
SBLI
Securian
Symetra
Transamerica

Allianz

  • Updated Life Insurance Forms are Required Starting January 1, 2024. The following updated life insurance forms are available at their website: *Temporary Insurance Agreement form. *HIPAA Authorization form. Check the bottom right corner of the form you’re using; if the date is earlier than 11/2023, it is an old version and will not be accepted after December 31, 2023. As of January 1, 2024, 11/2023 versions will be required. See link for details.
  • Webinar: Do You Know the Three Areas That Can Help Determine an Effective IUL Policy?. Jeff Wick (Manager, Distribution Sales Consulting) and Ben Larson (Sr. Product & Sales Consultant) will discuss three key areas to consider in designing an effective IUL policy. Webinar takes place on Wednesday, December 6, 2023 at 2 pm ET / 11 am PT. See link for details.

Need help with any of Allianz's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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American National

  • Holiday Hours. American National will be closed Friday, December 22 through Monday, December 25.
  • Software Alert: FireLight FAQ & SPIA Coming Soon. ANICO's Single Premium Immediate Annuity product on FireLight will be released by the start of the new year. Enjoy the features of automatic EFT premium payments, which ensure hassle-free transactions, suitability assessments, and seamless integrations with interest rates to guarantee accurate monthly rate updates..

Need help with any of American National's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Corebridge

  • SimpliNow Choice Platform. Introducing SimpliNow Choice platform on iPipeline. The SimpliNow Choice platform provides an exceptional submission experience with potential real-time offers on the same fully featured Term product. Please see link for details.

Need help with any of Corebridge's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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John Hancock

  • Accumulation IUL 23 is Now Approved in New York. Accumulation IUL 23 has been approved in all states. Featuring updates that further strengthen its income solves and overall versatility, John Hancock's Accumulation IUL 23 continues to take the lead in the indexed univeral life (IUL) accumulation space. Click link for more details.
  • LTC Awareness Month: Transforming Extended-Care Planning from Reactive to Proactive. With November recognized as Long-Term Care Awareness Month, tune in to hear a discussion on the importance of taking a proactive approach to extended-care planning with Harley Gordon and John Hancock’s Carly Brooks. Harley is a founding member of the National Academy of Elder Law Attorneys and has over 30 years’ experience helping families deal with the financial consequences of a long-term care event. Click link for more details.

Need help with any of John Hancock's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Legal & General America

  • Introducing More Coverage Options for Your Prospective Clients. Legal & General has extended their eligibility requirements to include more clients across a large age range, with varying degrees of coverage. Please see link for more details.
  • Horizon Experience Enhancement Update. Horizon's newest enhancement allows someone other than the primary insured and policy owner to join the payment process. Referred to simply as the payor, they can now enjoy a smoother third-party process. Please see link for more details.

Need help with any of Legal & General America's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Lincoln

  • Coming: New eSubmission Portal for Lincoln Life and MoneyGuard cases. In February 2024, Lincoln will launch a new user experience for producers who submit life insurance and MoneyGuard® cases electronically from the Lincoln producer website. The new eSubmission Portal will be available for Life eTicket and MoneyGuard eApp cases. Please see link for details.
  • Updated Underwriting & New Business Service Level Agreements. Lincoln’s Underwriting & New Business team has updated their current Service Level Agreements to better reflect current processing times and expectations from our field partners. These updates became effective Friday, December 1st, 2023. Several improvements have been made to processing turnaround times. Please see link for details.
  • Lincoln VUL Dollar Cost Averaging Fixed Account Rate Program - Extended. Lincoln is pleased to extend the Variable Universal Life Insurance Dollar Cost Averaging Fixed Account Enhanced Interest Rate Program through June 30, 2024. This program includes an 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. New formal applications signed, dated, and received in good order in Lincoln’s home office up to and including Friday, June 28, 2024 are eligible for the DCA Fixed Account Enhanced Interest Rate. Please see link for details.
  • Pay By Phone Ending in January 2024. In October 2023, Lincoln launched an easier, faster way for policy owners to receive and pay their premium bills online using electronic billing (eBill) and electronic payments (ePay). These enhancements allow Lincoln life insurance — including MoneyGuard® — policy owners to securely manage their payments 24/7 on any device, providing ultimate flexibility and freedom. Beginning January 2, 2024, Lincoln will transition back to its pre-COVID payment practices, and payments will no longer be accepted over the phone. Please note we will still accept grace payments and pending payments for reinstatement. Please see link for details.
  • 2023 Life Insurance Year-End Guidelines. December 7: Suggested final date to submit all applications and tickets requesting a Tele-App or Phone PHI. The completion of the interview is contingent on your client’s scheduling availability. As a reminder, the online interview (eInterview) is flexible and can be completed at any time. December 14: Suggested final date to submit all full applications and tickets requesting an online interview. Please see link for more dates and details.
  • 2023 Annuities Year-End Guidelines. All annuity business mail (applications, checks, financial request, etc.) must be received in good order in the appropriate location by 4:00 p.m. ET by the date specified below. The dates shown do not represent 2023 compensation payout. The contract must issue in 2023 in order to earn 2023 production credit with Lincoln. All fixed, fixed indexed and income annuities: December 20, 2023. Withdrawals, internal transfers, surrenders, loans, one-time RMDs: December 22, 2023. Automatic Withdrawal Service (AWS) for RMDs: December 1, 2023. Please see link for more dates and details.
  • Updated rate lock procedures for fixed indexed annuities. Beginning November 13, 2023, rate lock procedures for cash fixed indexed annuity business will be updated to 7 calendar days from when the application is signed, a change from 14 days. The updated document (Form FA-05000) is now available on the Lincoln Forms Tool. Rates eligible for a rate hold include the contract’s fixed account interest rate and indexed account rates. There is no rate hold on the index value. The applicable index value is determined on the date the contract is issued. Please see link for more details.

Need help with any of Lincoln's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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MassMutual

Need help with any of MassMutual's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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MetLife

  • Important Changes Impacting MetLife Life Insurance Products. MetLife expects to pay a dividend of approximately $583 million to their eligible life insurance policyholders in 2024. The Dividend Scale Flyer has full details regarding the dividend scale changes, along with answers to frequently asked questions.

Need help with any of MetLife's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Mutual of Omaha

  • Inforce LTCi Rate Adjustments Effective March 1, 2024. Mutual of Omaha will be implementing inforce rate adjustments effective March 1, 2024, impacting the states of Georgia, Alabama, and Delaware. Please see link for details.
  • Updated Quoting Software. Starting January 2024, MutualCare Solutions desktop software will no longer support quoting for Mutual of Omaha's long-term care products. Please see link for details and links.
  • Underwriting Guide Refreshed. Mutual of Omaha has separated its Fully Underwritten Underwriting Guide and Simplified Issue into two distinct guides. Please see link for details and links.
  • Webinar: 2024 Tax Updates Advanced Markets. Join Mutual of Omaha’s Advanced Markets team on Wednesday, December 13 for an overview of important tax and legislative changes that may impact your clients in the upcoming year. Webinar takes place on Wednesday, December 13 at 11:00 am ET / 8 am PT.
  • Updates to the Book of Business Tool. Effective December 13, get inforce policy information on additional products with the enhanced Book of Business tool.
  • 2023 Recap & Reminders. Virginia Craig shares her updates on year-end, including important dates for submitting business in the last month of 2023.
  • Quote LTC with WinFlex Web. Beginning January 1, 2024, MutualCare Solutions Desktop Software will no longer be available to quote Mutual of Omaha's long-term care products. If you are still using the MutualCare Solutions Desktop Software you should transition to the WinFlex Web platform as soon as possible.
  • IUL Express Minimum Premium Changes, Effective December 1, 2023. Effective December 1, 2023, we will be increasing our Minimum Premiums for Index Universal Life Express. This increase will only impact Minimum Premiums for IUL Express. It will not impact the Easy Solve premiums that you use today or the quotes you run in Mobile Quotes. IUL Express applications with an illustration created prior to December 1st must be signed and submitted by November 30th. Applications with illustrations ran prior to December 1st and submitted on or after December 1st will require a new revised illustration and will need to be resubmitted.
  • Inforce LTCi Rate Adjustments Impacting Hawaii, Effective February 1, 2024. Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the inforce rate adjustments effective February 1, 2024 impacting the state of Hawaii. Please see link for details.

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.

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Nationwide

  • 0.50% Fixed Rate Increase in Nationwide IUL 2020 Products, Effective January 1, 2024. Nationwide IUL 2020 policyholders will soon benefit from the 3rd fixed interest rate increase since April 2023, thanks to our continued strength and stability, commitment to the customer and a strong interest rate environment. On April 1, we raised fixed interest rates by 0.25%; on July 1, we raised them by 0.25% again. Now we are raising them by 0.50%. Effective January 1, 2024, the fixed interest rate will be 3.50% for the following products: Nationwide IUL Accumulator II 2020, Nationwide IUL Protector II 2020, Nationwide Survivorship IUL 2020. Fixed interest rate effective January 1, 2024: 3.5%. Please see link for details.
  • Nationwide Underwriting Success Story.Robert Tisdale, Sr. Consultant, Life Underwriting, shares a recent success story that demonstrates how Nationwide's underwriting can make a big impact on your clients. Please see link for details.
  • 0.50% fixed rate increase in Nationwide IUL 2020 products. Nationwide IUL 2020 policyholders will soon benefit from the 3rd fixed interest rate increase since April 2023, thanks to our continued strength and stability, commitment to the customer and a strong interest rate environment. On April 1, we raised fixed interest rates by 0.25%; on July 1, we raised them by 0.25% again. Now we are raising them by 0.50%. Effective January 1, 2024, the fixed interest rate will be 3.50% for the following products: Nationwide IUL Accumulator II 2020, Nationwide IUL Protector II 2020, Nationwide Survivorship IUL 2020. Please see link for details.

Need help with any of Nationwide's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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OneAmerica

  • OneAmerica Care Solutions Newsletter. In this edition of their Care Solutions Newsletter, OneAmerica shares important year-end updates and highlights from 2023.
  • Christmas and New Year’s Closures. OneAmerica will be closed on Monday, December 25 for the Christmas holiday and Monday, January 1 for the New Year’s holiday.
  • New Business Interest Rates for Care Solutions Products, Effective December 15, 2023. Please see link for details.
  • 2023 Year-End Processing Dates. Life policies and underwritten annuities: The Home Office must receive by end of business on Friday, Dec. 15, all delivery requirements, fully completed. Any pending cases with a request for reissue or plan change must be received in the Home Office by end of business on Friday, Dec. 15.

Need help with any of OneAmerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Pacific Life

  • Pacific Life Response to Infosys McCamish Cybersecurity Incident. On November 3, 2023, Pacific Life received notification from Infosys McCamish Systems LLC (“IM”), a third-party insurance policy administration services provider to Pacific Life, of a ransomware event that IM experienced on November 2, 2023, resulting in non-availability of certain IM applications and systems. Immediately upon being notified, Pacific Life’s cybersecurity, legal, and compliance teams began coordinating and working with IM to investigate the incident. All accounts of policyholders with a Magnastar product will continue to be supported while the IM backend system is restored. Pacific Life continues to be in close communication with IM and will share further information as it becomes available. This incident does not impact any other Pacific Life products or information systems operated by Pacific Life.

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.

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Principal

  • Updated Principal Term Available December 4, 2023. Our new level term product (10-, 15-, 20-, and 30-Year) was introduced Dec. 4 in all states except NY. In addition to updated rates, it features: *A new nonconvertible policy option that offers a lower-cost alternative to the convertible policy option. *Two optional riders that allow clients to get face amount increases, without additional underwriting. We’ll accept applications for the prior version of the product through Jan. 4, 2024.

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.

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Protective

  • Protective Velocity Update: Voice Signature Process Expanded. Protective has expanded eligibility for its voice signature process. Key updates include:
    • Applications with ExtendCare Rider are now eligible.
    • The previous age limit of 70 has been removed (note: there is still an age limit for 65+ at $1 million and above).
    • The face amount limit has been increased from $3 million to $5 million.
  • Gain More Control Over Your Business with iPipeline. Protective has enabled the Go/No Go functionality on iPipeline to provide firms with more control and oversight over their business. Protective has also enabled the ability for multiple agents to be added to a policy on iPipeline.
  • Compliance Update: Annuity Suitability Program. Online resources are available for Protective Life’s Annuity Suitability Program to help ensure producers comply with applicable suitability laws and regulations.
  • Updated ExtendCare Per Diem. The per diem limit for chronic death benefit riders will decrease to $410/day beginning in 2024.
  • Holiday Hours. Protective will be closed on Friday, December 22 through Monday, December 25, and on Monday, January 1, 2024.

Need help with any of Protective's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Prudential

  • Enhancements to PruLife® Custom Premier II as of 01/16/24. As of 01/16/24, we’re making our leading VUL accumulation product, Custom Premier II, even better with these enhancements:
    • Expanded variable fund line-up to ensure that we continue to offer the robust number of fund choices that we have had historically
    • Improved target premiums with an average increase of 14% for policies with Death Benefit Option B
    • Adjusted surrender charges (only effects cash surrender values in years 1 through 10)
    • The availability of the Premium Deposit Account
    • BAR Concierge Care Services will now be available in more states through the addition of the Other Goods and Services Rider
    • Enhanced illustration functionality that allows selected percentages above the minimum non-MEC solves, supporting higher Death Benefit with potentially low impact to cash accumulation
  • Webinar: J.P. Morgan’s Guide to the Markets – 2023 and Beyond. Dr. David Kelly, J.P. Morgan’s Chief Global Strategist, will give you the insider’s view on the hottest market topics this year and help you get ready for what’s to come in 2024. He will address concerns over recent geopolitical events, increased recession risks from monetary policy, and so much more. Don’t miss this webinar to help end the year strong. Webinar takes place on Thursday, December 7, 2023 at 2 pm ET, 11 am PT.
  • Prudential Response to Infosys McCamish Cybersecurity Incident. As you may know, Infosys McCamish Systems has become aware of a cybersecurity event resulting in the non-availability of certain applications and systems, including those that support our private placement life insurance products. In connection with this event, Infosys McCamish Systems filed a Form 6-K with the SEC, which states: “Infosys McCamish Systems ("IMS"), a subsidiary of Infosys BPM Limited (a wholly owned subsidiary of Infosys Limited) has become aware of a cybersecurity event resulting in the non-availability of certain applications and systems in IMS. Data protection and cybersecurity are of utmost importance to us. We are working with a leading cybersecurity products provider to resolve this at the earliest and have also launched an independent investigation with them to identify potential impact on systems and data.” Prudential continues to be in close communication with Infosys McCamish to better understand the impact, including when the systems are expected to be available.

Need help with any of Prudential's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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SBLI

  • Holiday Hours. SBLI will be closed on Friday, December 22, after 1:00 pm ET through Monday, December 25, and on Monday, January 1, 2024.
  • Kick-Start 2024 Sales Contest. Get in the game with SBLI and get on the fast track to two seats at a premier Boston Celtics match-up. Please see link for details.

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.

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Securian

  • Year-End is Fast Approaching, and Securian is Here to Help!. No matter what underwriting route you and your clients choose, Securian's underwriters look forward to working with you toward a fast and competitive underwriting offer.
  • Updated Juvenile Guidelines. Securian's juvenile underwriting guidelines have been reviewed and updated. Changes to the guidelines include:
    • Securian will now consider up to $250,000 of coverage on juveniles without their usual 50 percent restriction of parental coverage
    • Securian has extended consideration for grandparent gifting scenarios
    • Expanded underwriter guidance for juvenile build considerations, resulting in fewer attending physician statements (APSs)

Need help with any of Securian's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Symetra

  • SwiftTerm Online Pending Business Portal Enhancements. Symetra's SwiftTerm Online Pending Business Portal now includes a new status of “pending customer interview” when the drop ticket is complete but the customer still needs to finish their digital customer interview. Their interview is now also listed as a requirement. Once the customer is done, it will be marked “received” and a copy of the completed application will be emailed to you that same day.
  • Symetra Response to Infosys McCamish Cybersecurity Incident. Symetra is aware of the cybersecurity event as reported by McCamish Systems (McCamish). Symetra is actively partnering with McCamish to determine what impact, if any, there may be to the very small number of client policies that are administered by McCamish on McCamish applications. If any impact is identified, the affected individuals will be notified regarding any next steps in accordance with applicable laws.

Need help with any of Symetra's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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Transamerica

  • Get Transamerica Policy Info in Your NIC Feed. Transamerica is now offering in-force policy data on NIC so you can proactively manage your life insurance book of business using the popular multi-carrier feed. Please note not all products will be available on the data feed for the initial launch.

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.

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