June 2018 Carrier Updates

Last Updated: June 18

AIG

  • Foreign National Underwriting Checklist. We are excited to release the Foreign National Underwriting Checklist to help you assess and submit any cases involving foreign nationals for all residence categories. This checklist is designed to summarize the key items needed to meet underwriting guidelines, identify verification information to submit along with pertinent notes related to the guidelines. We hope this tool will help you submit In Good Order cases and speed your cases through the underwriting process.
  • Lower IUL Premiums Can Deliver Similar Guarantees to GUL and More Cash Value than GUL. With a Value+ Protector policy, you get an attractive death benefit guarantee and substantially more cash value for a lower premium. GUL offers many benefits including strong guarantees. However, it does have some limitations: limited liquidity or flexibility, limited (if any) cash accumulation, and designed primarily for death benefits. Value+ Protector IUL offers strong guaranteed death benefits like traditional GUL products while also providing flexibility and meaningful cash accumulation.
  • Startling insight on guarantees - click to download the PPT. Like GUL, Value+ Protector IUL guarantees coverage to a specified age, but unlike GUL it IS impacted by market performance – so just what does that really mean…? We crunched the numbers and the results were completely nuts!

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.

American National

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.

Genworth

  • In-Force Rate Action Announcement: South Dakota: PCS I, PCS II, Choice 1. As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on in-force policies, as needed. South Dakota has now allowed the following increases to PCS I, PCS II, and Choice 1. Click the link above for increase percentages. Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will continue throughout the next year. Impacted policyholders will be notified at least 60 days in advance of their billing anniversary dates. Agent notifications begin June 5, 2018. Policyholder notifications begin June 12, 2018.

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

John Hancock

  • Two Ways You Can Access Vitality on Term. Now there are two Term products that you can choose from to reduce your premiums and earn rewards for living healthy with the John Hancock Vitality Program — one offers the benefit as an optional rider, and the other has the Vitality benefit built into the policy. Option 1: Term & optional Vitality rider - competitive premiums that will only decrease when you engage in Vitality. Ideal if you want certainty that your premiums will never increase. The Vitality program is an optional rider, and can be dropped after issue. Option 2: Term with built-in Vitality - lowest initial premium with opportunity for additional savings when you engage in Vitality. Ideal if you want upfront premium savings. The Vitality program is automatically included and cannot be removed from the policy. For more information, click the link above.

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.

Nationwide

  • The Advanced Sales Journal. Check out the Spring 2018 edition of The Advanced Sales Journal, with articles on:
    • Potential problems for BOLI/COLI life insurance
    • IRS releases Priority Guidance Plan as of December 31, 2017
    • Understanding the tax impact of sales to cooperatives
    • Charitable planning opportunities under the new tax law
    • Ask the Specialist: Trusts as a beneficiary of a nonqualified annuity
    • Why cash indemnity benefits hedge the unknown future of the caregiving industry

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.

Protective

  • ProClassic Legacy Launching April 30. On April 30, 2018, Protective Life will launch ProClassic Legacy: a new current assumption universal life policy that offers flexible premiums and cash-value potential. As part of this launch, ProClassic UL will be discontinued on April 30, 2018 with conversion applications discontinuing on June 29, 2018. In addition, ProClassic NY and ProClassic UL with the Enhanced Cash Surrender Value Rider will continue to be available for new issues and certain conversions. Please review the transition rules for complete information. For new business, ProClassic UL will close on April 30, 2018: applications must be signed and received on or before April 30. For conversions, ProClassic UL will close on June 29, 2018: conversion applications must be signed and received on or before June 29. Please click the link above for more details.

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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