March 2023 Carrier Updates

March 2023 Carrier Updates

Last Updated: March 30

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

Carriers with updates below:

Allianz
American National
John Hancock
Legal & General
Lincoln
MassMutual
Mutual of Omaha
Nationwide
OneAmerica
Principal
Protective
Securian
Transamerica

Allianz

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

  • Important New York Required Forms Update. Beginning April 3, 2023, all new business applications for life and annuity will require the Verification of Sales Material (ANY-24-IM) form to be submitted.

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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John Hancock

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

  • Ability to Respond to an RTM. Effective March 8, BGAs will be able to respond to an RTM on behalf of the advisor's client. This process will: *Reduce cycle times *Allow documents to be uploaded *Provide data and insight to identify future enhancement opportunities

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

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Lincoln

  • Online Personal History Interview (ePHI) Underwriting Follow-up. Effective March 27, 2023, Lincoln is pleased to deliver the next step in creating a complete end-to-end digital experience for your clients with ePHI Underwriting Follow-up. How it works: Currently, a PHI is conducted through a scheduled follow-up phone call (usually during business hours), between a Lincoln Representative and the client, to gather additional information needed for underwriting review. This enhancement to the eInterview experience, offers clients the option to answer underwriting follow-up questions through an online link and questionnaire, versus over the phone. The client can access the link anytime day or night: 24/7 – when it’s convenient for them! Please see link above for more info.
  • eInterview Enhancements: Link Reactivation and Chatbot. Effective March 27, 2023, Lincoln is pleased to offer two new enhancements to the online interview (eInterview) process: link reactivation and chatbot. These enhancements leverage automation and offer self-service opportunities for the client driving efficiencies and improving the pending case experience. Please see link above for more info.
  • Coming Soon – Lincoln WealthAccumulate® IUL (2020) – 04/17/23. Effective April 17, 2023, Lincoln is pleased to announce an update to the Lincoln WealthAccumulate® 2 IUL (2020) life insurance product. Lincoln WealthAccumulate® 2 IUL (2020) – 04/17/23 offers flexibility for growth, access to cash value, and financial protection. Built for clients who want death benefit protection plus growth opportunities through indexed accounts and access to cash value for today’s and tomorrow’s needs. At launch, this product will comply with the updated illustration requirements for AG49-A (Effective May 1, 2023). Please see link above for resources.
  • Explore resources for Lincoln OptiBlend® fixed indexed annuity. Client (marketing pieces) and Financial Professional (reference materials) resources are available Lincoln’s flagship fixed annuity product, Lincoln OptiBlend® fixed indexed annuity, is designed for accumulation objectives, and offers clients multiple account options for their premium allocation. Clients can choose to invest in the Fixed Account, in one or more indexed accounts, or a combination of accounts. Lincoln OptiBlend annuities also offer the flexibility to add additional premium. The product offers different rates for premiums $100,000 and above, and is available with a 5-, 7- and 10-Year surrender charge schedule (all product versions are not available in all firms). Please see link above for resources.
  • Now Available: Real-Time Approval. Beginning March 13, 2023, Lincoln is excited to provide you and your clients with a Real-Time Approval for eligible Lincoln MoneyGuard cases. For a portion of your business, clients who are in excellent health and are able to be approved by our automated underwriting process may be informed of their approval immediately after their interview.

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

  • Important Changes Coming to MassMutual's Multi-Life Discount Program. On April 1, MassMutual will update the multi-life discount program on fully underwritten Radius Choice disability income (DI) insurance business. During phase one we will be making updates to the current program starting on April 1, 2023 including: *Unisex pricing will no longer be available for non-employer-paid multi-life discounts; only gender-distinct rates will apply. *Reduction of group identification number (GIN) exclusivity. *Updates to program guidelines. In phase two, we will redesign the program and revisit pricing, occupation classes, and compensation.

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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Mutual of Omaha

  • Inforce LTCi Rate Adjustments Effective June 1, 2023. Mutual of Omaha will be implementing the following inforce rate adjustments effective June 1, 2023. Impacted states are Florida, Colorado, and Missouri. Please see link above for more details.
  • Issue Ages Increased on IULE and TLE. Effective March 1, 2023, Mutual of Omaha has increased the maximum issue age to 75 on IUL Express and Term Life Express products.
  • LTC Policies via Email - Now Available. Mutual of Omaha now has the ability to send PDF copies of LTC policies via email. This new feature will NOT replace the standard paper policy mailing but will allow for multiple options when it comes to policy viewing.
  • Issue Ages Increased on IULE and TLE. Effective March 1, 2023, Mutual of Omaha has increased the maximum issue age to 75 on IUL Express and Term Life Express products.
  • Updates to COVID-19 Underwriting Guidelines. Mutual of Omaha announces updates to its COVID guidelines, effective March 1, 2023. Acceptance Guidelines Based on Insured's Issue Age: We are now accepting applications for clients through age 74 up to Table 8 - An increase from the prior Table 6 limit. Ages 75-79 remain capped at Table 6. Ages 80+ continue to be postponed. Please see link above for further 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

  • More Overfunded IUL and VUL Accumulator Cases Are Now Eligible for 15% Enhanced Target Premiums. Have you illustrated an overfunded case with Nationwide IUL Accumulator II 2020 or VUL Accumulator? It now may be eligible for an additional 15% target premium. Policyholders already using this account are automatically receiving the higher rate and will be notified of the change by Nationwide.
  • Making it easier for you to serve your clients. As part of our commitment to provide simpler and accessible self-service opportunities, based on your feedback and beginning in late March, we will no longer mail financial professional copies of annual statements for our No-Lapse Guarantee (NLG) and CareMatters products or quarterly statements for any Variable Universal Life products.

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

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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Principal

  • Change to ECG Requirement. Principal will eliminate the electrocardiogram (ECG) as a routine requirement for issue ages 50-60 with face amounts of $1 – 5 million, effective March 10, 2023.

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

  • New Enhancements to Executive UL. Protective's executive universal life insurance solution is about to get better than ever. Improvements include: Minimum number of lives lowered from 25 to 15; ExtendCare rider minimum number of lives lowered from 50 to 25; Updated formula to maximize death benefit per insured executive.

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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Securian

  • New Income Replacement Guidelines.Securian recently increased their income replacement guidelines, allowing clients to obtain more life insurance coverage than before. See link for details.

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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Transamerica

  • eDelivery Enhancements. Write and submit applications quicker, get more policies delivered electronically, and receive advanced commissions faster with Transamerica's improved eDelivery experience for selling experience FFIUL on iGO e-App. See below for all the enhancements.

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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Need help navigating the ever-increasing selection of products from these carriers? Learn how partnering with us can help you earn more, better serve your clients, and sell more life insurance online.

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