Last Updated: November 9
AIG
- We’ve updated our nonparticipating recurring premium whole life product. This product is available for term conversions only. American Elite Whole Life 2 (formerly known as American Elite Whole Life) has the same rates but updated versions of the riders. Plus, here are some other changes: (1) New Child Rider has an increased maximum death benefit of $25,000; (2) Extended Term Insurance non-forfeiture option is no longer available; and (#) Reduced Paid Up option continues to be available for non-forfeiture. As of October 30, 2017, American Elite Whole Life 2 is approved in all states except New York. Click here for the new product details.
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.
Brighthouse Financial
- Introducing Brighthouse (MetLife) Conversion Whole Life. Effective November 13, 2017, Brighthouse Conversion Whole Life will be introduced as the term conversion solution for Brighthouse Financial term policy owners. Brighthouse Conversion Whole Life is a guaranteed level-premium, non-participating policy that offers guaranteed cash value and guaranteed lifetime protection. The policy will be issued by Brighthouse Life Insurance Company and in New York only, by Brighthouse Life Insurance Company of NY. This product is not available for retail sale and will be the only product available for both term conversions and other contractual rights that require the issuance of a new permanent policy, such as the exercise of a guaranteed insurability rider. With the launch of Brighthouse Conversion Whole Life, Brighthouse Premier Accumulator Universal LifeSM (PAUL) will no longer be available for term conversions or the exercise of other contractual rights, except as noted below in the transition rules. Please note that PAUL will continue to be available for new business sales.
- In all states except California, applications for Brighthouse Conversion Whole Life will be accepted beginning on November 13, 2017. In Good Order applications for term conversions to PAUL will be accepted through November 30, 2017. These cases must be issued and paid by December 31, 2017 or they will be closed. If a case is closed, the policy owner may reapply for Brighthouse Conversion Whole Life. Beginning November 13, 2017, PAUL will no longer be available for the exercise of other contractual rights. Brighthouse Conversion Whole Life is not yet available in California. PAUL will remain available for issue to satisfy term conversions and the exercise of other contractual rights that require the issuance of a new permanent policy. Proposals for Brighthouse Conversion Whole Life will be available on the Winflex and ForeSight illustration systems beginning November 13, 2017. Illustrations for term conversions to PAUL completed on or after November 13, 2017 can be run without selecting the term conversion box.
Need help with any of Brighthouse's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.
John Hancock
- Your Clients Can Earn an Apple Watch Series 3 for as Little as $25 with John Hancock Vitality. When your clients buy life insurance with the John Hancock Vitality Program, they can earn an Apple Watch Series 3 for as little as $25 — starting November 6th! Clients order Apple Watch Series 3 for an initial payment of $25 plus tax. Monthly payments are then based on the number of Vitality Points they earn each month from Standard or Advanced Workouts, over a 24-month period. The more points they earn through regular exercise each month, the less they'll pay for their Apple Watch. It's a great way to provide them with motivation to live a healthy life and a tremendous sales opportunity for you. Click here for the Vitality program Seller's Guide.
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.
Lincoln Financial
- Lincoln MoneyGuard® II - Introducing Expanded Payment Options and Pricing Changes in California and Hawaii. Effective November 20, 2017, Lincoln MoneyGuard® II will be introducing expanded payment options and pricing changes for new sales of the product in California and Hawaii. Listed below is the availability for the new expanded payment options:
- Clients ages 40 to 54 will now have the option to fund up to age 65, potentially for as long as 25 years.
- Clients between the ages of 55 and 72 will continue to have a choice of payment options up to 10 years.
- Clients between the ages of 73 and 79 will have a new schedule of payment options. Starting at age 73, clients can choose options up to 9 years, grading down by one year at each subsequent age, to 3 years of payments at age 79.
- Single premium payment options are still available.
- The pricing changes identified below were made following a thorough and in-depth analysis of all factors influencing pricing, including those related to the persistently low interest rates. These are the first pricing changes since the product was introduced in early 2014 and will result in a pricing increase or decrease, depending on each client’s specific situation.
- Overall, the pricing is increasing by an average of 10%
- In our core markets, single pay premium rates will increase by a range of 2% to 11% with an average increase of 10%; flexible premium rates will increase by a range of 8% to 18% with an average increase of 14%
- At certain ages, this pricing adjustment may alter the benefit level or rider combinations available for sale. For situations where rider/inflation combinations are no longer available, there are alternative options. Contact your Lincoln wholesaler to learn more. Existing policy owners are not affected, because one of the product’s unique benefits is that all rates and charges are fully guaranteed, assuming all premiums are paid as scheduled and no loans or withdrawals are taken for the life of the policy.
- For applications to qualify for the current Lincoln MoneyGuard® II (2015) pricing:
- California: The fully completed Part 1 for Lincoln MoneyGuard® II (2015) and Ticket must be signed, dated, and received in good order by Lincoln’s home office by November 17, 2017, 11:59 PM EST.
- Hawaii: The completed ticket and one other required point of sale form for Lincoln MoneyGuard® II (2015) must be signed, dated, and received in good order by Lincoln’s home office by November 17, 2017, 11:59 PM EST.
- For pending business, after November 17, 2017 Lincoln will accept a written request and a revised projection of values to change to Lincoln MoneyGuard® II (2017). For issued or placed business, normal internal replacement guidelines apply. Rewrites will not be accepted.
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.
