March 2024 Carrier Updates

March 2024 Carrier Updates

Last Updated: March 28

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

Carriers with updates below:

American National
Corebridge
Global Atlantic
John Hancock
Legal & General
Lincoln Financial
MassMutual
Mutual of Omaha
Nationwide
OneAmerica Financial
Pacific Life
Principal
Protective
SBLI
Securian
Security Mutual Life
Symetra

American National

  • New Annuity Suitability Form Requirement Effective March 13. Updated suitability forms 4465-NAIC & 4465-NAIC-MN are starting March 13, 2024, due to additional updates and software migration coordination.
  • Annuity Product Rates, Effective March 1, 2024. See current rates for ANICO Strategy Indexed Annuity (ASIA) Plus, Palladium Multi-Year Guarantee Annuity, Century Plus Annuity, WealthQuest Citadel 5 & 7 Diamond Annuity, and more. Please see link for details. Looking for NY products and rates? Click here.
  • For a Limited Time Only, Full Commission on Internal Exchanges from Palladium MYG-3 to 10 to MYG-5 to 10. Beginning March 12, all internal replacements of Palladium Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy within the 30-day surrender window at the end of the initial rate guarantee period, will be paid at 100% of the current commission rate. Please see link for details.

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

  • Reminder: Connext Has a New Address. Connext moved to a new address last month. If you haven’t done so already, please update your Connext bookmark to its new address. See link for details.
  • Select-a-Term Repricing, Effective March 11, 2024. Effective March 11, 2024, Select-a-Term (SAT) is repriced in all states, excluding New York. Pricing: Face amounts $500,000+ have a Top 2 ranking in 70% of the annual premium cases. See link for details.
  • Lifetime Income Choice – New Enhanced Income Benefit Beginning March 26, 2024. Beginning March 25, 2024, Power 7 Protector Plus Income and Power 10 Protector Plus Income index annuity contracts issued with the Lifetime Income Choice guaranteed living benefit will now include the new Enhanced Income Benefit should clients require confinement care. The Enhanced Income Benefit provides for increased income by up to 200% of a clients Maximum Available Withdrawal Amount (MAWA) under the rider for Single Life or 150% for Joint Life when qualifying conditions are met. See link for details.
  • Annuity Rates Increasing, Effective March 4, 2024. See current rates for Power 5 Protector, Power 7 Protector/Power 7 Protector Plus Income, Power 10 Protector/Power 10 Protector Plus Income, Power Index Premier NY, and Power Index 5 NY Index Annuity.

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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Global Atlantic

Need help with any of Global Atlantic'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

  • Webinar: The Secret Sauce to John Hancock’s Indexed UL Portfolio’s Proven Success. Join John Hancock for a one-of-a-kind webinar experience hosted by Neal Kerins, VP of Product Development, and Alex Silva, Chief Financial Officer. During this discussion, the will cover what sets John Hancock apart and the company's future outlook. Webinar takes place on Wednesday, April 10 at 2 pm ET / 11 am PT.
  • Webinar: Uncovering Opportunities for Wealthy Global Citizens. Join Carly Brooks, AVP and Counsel, Head of Advanced Markets, and Sue Pirog, Senior Underwriting Director, Foreign National Business, for a webinar on March 14, at 2 pm. The wealthy global citizens market is one that’s growing at an extraordinary rate, making this an ideal time to gain insights that can help grow your business. You can expect to hear more about: *Why wealthy global citizens are interested in US life insurance *How new reporting requirements under the Corporate Transparency Act may expose an even greater need for US life insurance *Underwriting nuances — including why capacity is a key driver on foreign national cases *Why John Hancock is a differentiator in this market. Webinar takes place on Thursday, March 14 at 2 pm ET / 11 am PT.

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

  • Discover the Latest Enhancements to the Horizon Experience. These updates, driven by your feedback, are designed to streamline your workflow, improve usability, and provide the support you need to serve your clients efficiently.
  • Webinar: Updates to Banner Life Offer, Pay Issue Process. Legal & General's Internal Account Managers Scott Mitchell and Martie McLaughlin will take you through recent enhancements to Banner Life's offer, pay, issue process. Highlights will include: *Third-party payors are now allowed to make premium payments. *New ability to select OPTerm 10 in the Customize Coverage section Webinar takes place on Tuesday, March 19 at 2 pm ET / 11 am PT.

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 Financial

  • Online Fund Transfer Expansion For Lincoln Variable Life Insurance Policies. Beginning March 25, 2024, Lincoln is pleased to expand its online fund transfer capabilities to Lincoln MoneyGuard Market Advantage® and most Lincoln VULONE and Lincoln SVULONE variable universal life insurance (VUL) policies. Already available for Lincoln AssetEdge® VUL, this capability offers a fast and easy way for registered LincolnFinancial.com users to manage policy funds at any time, from anywhere. Please see link for details.
  • Pricing Update: Lincoln LifeElements® and Lincoln Term Accel®. Lincoln LifeElements Level Term premiums are increasing approximately 2% on average for our non-tobacco, core cells. Premiums are increasing 4-6% on average for preferred plus and ages 35 – 45. Lincoln TermAccel premiums are increasing approximately 2% on average for our non-tobacco, core cells. Premiums are increasing 3% on average for preferred plus and ages 35 – 45. Our most competitive cells will generally be older ages and standard risk classes.
  • Simplified Registration for Corporations, Estates and Trusts on LincolnFinancial.com. We’ve simplified the registration process on LincolnFinancial[.]com for authorized signers of Life and Annuity accounts that are owned by a corporation, trust or estate. We are pleased to introduce a process with fewer total steps and minimal use of personally identifiable information. This new streamlined process is now live. Please see link for screenshot & details.
  • eSubmission Portal transition extended to mid-April. Producers who started a Life eTicket or MoneyGuard eApp case from Lincoln’s producer website prior to Feb, 12, 2024, will continue to have access to iPipeline through mid-April. A link to iPipeline is available on the eSubmission Portal Dashboard which allows for quick navigation to iPipeline.
  • Enhancements to the indexed account line-up for Lincoln fixed indexed annuities. Effective for contracts issued on or after March 18, 2024 Lincoln is pleased to announce an additional indexed account option for new fixed indexed annuity contracts designed to provide growth potential in up, flat, and even down markets. Effective for most new contracts issued on or after March 18th, clients can allocate premium to a new account: 1 Year S&P 500 Dual Trigger. See link for details.
  • Additional indexed account updates. Updates to Lincoln OptiBlend® contracts issued on or after March 18, 2024: *The 1 Year S&P 500 10% Daily Risk Control Trigger will be an option on new contracts. *The 1 Year S&P 500 10% Daily Risk Control Spread account will no longer be available. See link for details.

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

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MassMutual

  • New Apex VUL Coming in April. Apex VUL is a flexible premium variable universal life insurance policy that provides a combination of features, benefits, and tax advantages for your clients. A permanent life insurance product, it provides a death benefit and has an accumulation focus that diversifies MassMutual’s life product portfolio.
  • MMSD Webcast: A Closer Look at Apex VUL. Register today to join Vern Carlson, MMSD Life National Sales Manager and Mark Drauschke, Head of UL and VUL Product Development, for a deep dive into the new accumulation Apex VUL product and review how its features compare to the competition. Webinar takes place on Tuesday, April 23 at 2 pm ET / 11 am PT.
  • Webinar: Why Accumulation VUL in Today's Market. Join Bobby Samuelson, Executive Editor, The Life Product Review, and Vern Carlson, MMSD Life National Sales Manager, to discuss where accumulation-oriented variable universal life insurance (VUL) fits in today's marketplace and how to use the NEW Apex VUL to help clients achieve their financial goals. This call will not be recorded. Be sure to register in advance to attend this session! Webinar takes place on Tuesday, March 12 at 2 pm ET / 11 am PT.

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

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

  • CareMatters II Price Improvement Effective April 1, 2024. Beginning April 1, 2024, Nationwide® is implementing a price improvement across all scenarios for the current CareMatters® II product effective in the state of California (CA). Please see link for details.
  • Nationwide IUL 2020 and CareMatters Products: Fixed Interest Rate Increases, Effective April 1, 2024. See fixed account interest rate increases for Nationwide IUL, CareMatters and APF.
  • Nationwide’s Advanced Premium Deposit Rate Increasing to 3.5%, Effective April 1, 2024. While your client's money is in the Advanced Premium Deposit account, it earns a competitive annual interest rate — currently 3.5% (accrued daily and credited monthly). Please see link for details.
  • Enhancements to Foreign National Guidelines. Nationwide has made several significant updates to its international guidelines. See this checklist for more information on submitting an application with a Foreign National client.
    • No $1,000,000 minimum required policy if Foreign National has been in the U.S. less than 3-years
    • All Products including Term are now available for Foreign Nationals
    • All Riders are now available including the LTC-Rider for Foreign Nationals in the U.S. for greater than 1-year
    • Preferred risk classes are now available after 1-year of residence with preferred plus available after 3-years in the U.S.
    • Accelerated underwriting is now available to anyone who has been in the U.S. for 1-year
    • Expanded acceptance for foreign nationals from C and D countries

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 Financial

Need help with any of OneAmerica Financial'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

  • Webinar: Are Your Clients Retirement Ready? Post-Retirement Income and Healthcare Planning. Your clients are diligently saving for retirement. Are they prepared from a post-retirement income and healthcare needs perspective? How will they know whether they are prepared? This course will help you to help your clients understand the following: how early retirees can build a healthcare bridge prior to becoming Medicare-eligible (age 65), what Medicare options are available, how to address the risk of a long-term care event during retirement, when is the ideal time to claim Social Security benefits, and how retirees can address income needs prior to or in addition to claiming Social Security benefits. Additionally, the course will discuss how life insurance and/or annuities may work in conjunction with various retirement and health-care strategies. Webinar takes place on March 27 at 12 PM ET.
  • Women’s History Month Conversation Starter. Help this growing group of financial decision makers plan with confidence by sharing this handy infographic.
  • Exciting Website Enhancements. Check out the redesigned Sales & Marketing Resources section of the Producer Bay website (login required). Enjoy easier-to-use navigation, filtering capabilities, and more - enabling you to quickly access robust sales and marketing tools to help supercharge your experience selling PL Promise life insurance. See link for 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.

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Principal

  • Principal Product and New Business Underwriting News.
    • Improved GI Term Onboarding. Enhancements have been made to the process for both employee- and employer-owned plans.
    • Drop Ticket in NC, LA, and NH. A reminder that financial professionals in these three states must sign all forms to avoid delays in the process.
    • Part B eSignature reminder. Help ensure eligible clients benefit from Principal Accelerated Underwriting by properly eSigning Part B.
    • New Experience for Individual Life Policies. Principal has enhanced their online experience to provide users with a holistic view of their life policy, along with any other Principal accounts they may have.

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

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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SBLI

  • Sales Contest: Swing into Spring. It’s time to think spring! Celebrate warmer weather, longer days, and baseball season with the chance to win a trip to Boston and two tickets to see the Red Sox!

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

  • Securian Financial is Now Live with Wells Fargo. Securian Financial is now live with Wells Fargo! This means you have Securian products to choose from with no exceptions needed. Please see link for details.
  • Webinar: Chasing the Sunset: Wait-and-See Trusts. Provisions in the Tax Cuts & Jobs Act (TCJA) will expire at the end of 2025. The sunset of these provisions could impact estate planning strategies. Taking a wait-and-see approach could help married clients with sizable estates to pass them on despite changing tax laws. Webinar takes place on Thursday, March 21 at 2 pm ET / 11 am PT.
  • Underwriting Hot Topic: Enhanced Psychological Guidelines!. Securian's new guidelines include the introduction of credits for individuals with high-functioning mental health condition(s). With this update, clients can expect:
    • Competitive underwriting offers for mild and moderate ADHD, anxiety and depression histories that are well-controlled and stable. And the potential qualification for up to Preferred-Select classification.
    • Improved underwriting offers for individuals with long-term stable and controlled bipolar disorder
    • Increased cases qualifying for acceleration (WriteFit Underwriting)
    • Reduction of Attending Physician Statement (APS) requests
    • Reduced turnaround times

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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Security Mutual Life

  • Webinar: Sunset of the 2017 Tax Cuts and Jobs Act: The Elephant in the Room. Marc Belletsky, JD, CLU®, ChFC®, RICP® Regional Vice President of Security Mutual Life Insurance Company of New York will address the Elephant in the Room when it comes to the imminent sunset of the 2017 Tax Cuts and Jobs Act. He will show actionable ways in which this elephant—a combination of higher tax rates and lower exemptions—may be addressed and how Security Mutual Life's products might assist with what has the potential to result in a taxable event for individuals or married couples worth approximately $7.0 million or $15.0 million, respectively. Webinar takes place on Wednesday, March 13 at 11 am ET / 8 am PT.

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

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Symetra

  • Coming Soon: Cancer Care Compass. Introducing an innovative life insurance solution that offers health benefits that can help your clients today, not just when they’re gone. Symetra’s Cancer Care Compass is an industry-first rider package that offers a unique combination of cancer care benefits and services that can help your clients live longer and healthier lives. Please see link for details.

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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