November 2023 Carrier Updates

November 2023 Carrier Updates

Last Updated: November 16

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

Carriers with updates below:

Allianz
American National
Corebridge
Equitable
Global Atlantic
John Hancock
Legal & General America
Lincoln
MassMutual
Mutual of Omaha
Nationwide
North American
OneAmerica
Principal
Protective
Prudential
SBLI
Securian
Security Mutual
Symetra
Transamerica

Allianz

  • 2023 Year-End Processing Dates and Holiday Hourss. Life insurance new business final delivery requirements must be received in good order before Wednesday, December 27, 2023 at 3 p.m. Central time. Fixed index annuity new business applications and final requirements must be received in good order before Tuesday, December 26, 2023 at 3 p.m. Central time. See link for more dates and details.
  • Webinar: Discover the Latest Digital Capabilities for Your Life Insurance Business. LaRita Fenske, Operations Relationship Management Director, and Erin Rhoades, Relationship Manager, will tell you about the newest capabilities Allianz has added to their digital experience. Webinar takes place on Wednesday, November 8 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

  • Accelerated Life Underwriting Programs Suspended in Colorado. Effective November 14, American National is suspending its accelerated underwriting programs in Colorado. For applications received November 14 and after, paramedical exams and labs will be required on all adult applicants at amounts of $100,000+ in Colorado. During this suspension period, ANICO is closely examining the new regulations, evaluating their impact, and making any necessary adjustments to remain compliant with Colorado's regulatory framework. They are actively working with their electronic application teams to identify the required changes and complete the work. 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

  • New SimpliNow Choice Platform. Access ALL underwriting submission paths in the same session, including Corebridge's new client completion path that can lead to a real-time offer on existing, fully featured Select-a-Term. See link for details.
  • Improved Select-a-Term Rates, Effective October 30, 2023. Effective October 30, 2023, Select-a-Term is repriced in all states, excluding New York. Overall, the rates trend lower and decreases can be seen across all key bands. 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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Equitable

  • VUL Incentive Life Protect, Coming November 13, 2023. Coming November 13, Equitable is introducing its new VUL Incentive Life Protect℠, offering options for guaranteed lifetime protection with the Extended No-Lapse Guarantee, Long-Term Care Services℠ Rider and Market Stabilizer Option® II Indexed Options to manage market volatility. See link for details.

Need help with any of Equitable'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

  • Cap and Illustrated Rate Changes, November 2023. Global Atlantic regularly reviews caps and crediting rates to appropriately manage the business. Due to sustained higher hedging costs, cap rates on certain in-force Indexed Universal Life (IUL) products will be adjusted. Premiums applied after Nov. 21, 2023, will be subject to the new rates. Index strategies that renew on/after Dec. 1, 2023, will be subject to the new rates. See link for details.

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

  • Premier Benefit IUL is Approved in California. Premier Benefit IUL1 is offered to high-earning professionals in the workplace, and provides voluntary life insurance, optional long-term care protection, and access to the John Hancock Vitality program through a simple, streamlined application process. Click link for more details.
  • Important Update: System Outage. New Business: John Hancock remains unable to issue a small number of term policy contracts at this time. The New Business Case Management team has prioritized cases in the queue and is able to confirm approved coverage will be deemed inforce following receipt of the minimum initial premium and any outstanding delivery requirements. John Hancock is depositing premium checks and/or drafting for policies enrolled in pre-authorized checking. Any premium payments will be held on deposit and applied to the policy on the original effective date they were received once the administration system is online. See link for more details.
  • 2024 Dividend Rate Announcement. Effective January 1, 2024, the dividend rate will change on certain participating traditional single-life and survivorship policies originally issued through the John Hancock Life Insurance Company and John Hancock Variable Life Insurance Company. Click link to download PDF 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

  • 2023 Year-End Processing Dates and Holiday Hours. December 29, 2023 will be the last day for 2023 business and the standard service times for processing documents received that day will apply. New business requirements need to be received and processed by Friday, December 29 to be included in 2023 Miscellaneous Income Tax Reporting (1099-MISC). Please see link for more dates & 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

  • Now Available: DCA 10% Fixed Account Enhanced Interest Rate Program for Lincoln MoneyGuard Market Advantage. Effective November 13, 2023 through June 30, 2024: Lincoln is pleased to offer a 10% Fixed Account enhanced current interest rate on Lincoln MoneyGuard Market Advantage® to help with short-term returns while the client transfers funds into variable investment options using a 12-month Dollar-Cost Averaging (DCA) program. This annual effective rate is paid on the declining balance in the Fixed Account. These fixed rates do not reflect performance of the variable investment options selected by the client.
  • Now Available: Lincoln VULONE (2021) – 11/13/23. Effective November 13th 2023, Lincoln will be making updates to Lincoln VULONE (2021), a variable universal life insurance product. Lincoln VULONE (2021) – 11/13/23 will replace Lincoln VULONE (2021) – 05/15/23. With this product update, there are no changes to the guarantee premium. Changes are limited to the base account charges and credits. As Lincoln continues to prioritize a disciplined and prudent approach to risk management, the following changes will allow the flexibility to continue to offer competitive level pay guaranteed premiums.
  • Now Effective: Bonus Rider and Premium Reduction Option Discontinued on Lincoln SVULONE. Effective November 13, 2023, Lincoln is discontinuing the following product options for Lincoln SVULONE (2021) 05/15/23: • Bonus Rider • “Premium Reduction Option” (Guaranteed Minimum Death Benefit (GMDB) Option that provides a Lifetime Guaranteed Death benefit with 50% drop at age 90). Lincoln SVULONE (2021) – 05/15/23 remains the currently sold version of Lincoln SVULONE (2021) and continues to offer a lifetime guaranteed death benefit with market-driven growth potential. The Bonus Rider and Premium Reduction Option will no longer be available for sale with Lincoln SVULONE (2021) – 05/15/23 as of November 13, 2023. For policies previously sold with the Bonus Rider and/or the Premium Reduction Option, Lincoln remains dedicated to honoring our commitments to policyholders, including fulfilling and administering these policy options.
  • Table Reduction Program Discontinued on Lincoln VULONE and Lincoln SVULONE products. Effective Nov. 13, 2023, Lincoln is discontinuing the Table Reduction Program (TRP) for all Lincoln VULONE and SVULONE variable life insurance products. Please see link for full 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

  • New Tools Available: November is LTC Awareness Month. MassMutual has curated a Long-Term Care toolkit including client-approved materials, original research, and information about their LTC planning solutions, and introduced a new Cost of Care Estimator Tool to help clients understand the growing cost of care in their specific state and region.

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

  • e-Signature Enhancements Now Available. Mutual of Omaha has streamlined its e-signature process for simplified issue life electronic applications. The updates include: *Text message signature process is available. *There is less scrolling and no required pop-ups. *The number of clicks has been reduced throughout the signature process.
  • Inforce LTCi Rate Adjustments Effective February 1, 2024. Mutual of Omaha will be implementing inforce rate adjustments effective February 1, 2024, impacting the state of Hawaii.

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

  • Update from Nationwide on CareMatters Underwriting. With the recent launch of Nationwide's new CareMatters Together product, the price improvement to existing CareMatters II product, and the regular influx of year-end business, Nationwide is experiencing an increase in applications. They are taking proactive measures to enhance service, including hiring additional personnel.

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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North American

  • Webinar: De-Commoditize Your Practice to Move the Needle With Your Best Clients. Industry prognosticator and North American’s own, Andrew Rinn, shares his thoughts on how tax, demographic, and economic trends can empower the thoughtful advisor to help affluent clients attain their personal aspirations. Webinar takes place on Thursday, November 16 at 3 pm ET / 12 pm PT.
  • Webinar: Can You Predict the Future?. Planning for the future just got easier with a North American Indexed Universal Life (IUL) policy. The Protected Death Benefit* is a unique benefit offering your client flexibility and control over their death benefit in the future. Join this webinar and see how this benefit sets North American’s IUL’s apart from the competition. Webinar takes place on Wednesday, November 8 at 2 pm ET / 11 am PT.

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

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OneAmerica

  • Finish AND Start Strong with Care Solutions. To keep business flowing in strong until the clock strikes midnight on New Year’s Eve – AND well into the new year, Care Solutions is doubling your production credits towards your 2024 and 2025 incentive trips.

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

  • Update on e-Delivered Policies. Beginning October 31, upon successful eSignature completion of the policy issue packet, an email will be sent to the owner and the insured informing them the completed policy packet is available via principal.com and the “Doc Locker.” The field office contact and financial professional will also receive a similar email. The completed policy packet will no longer be attached to the email.
  • Expanded Business Solutions Focus for Principal Sales Organization. The following changes will take effect in early 2024.
    • Life insurance and IDI, when offered together, can often provide a more comprehensive solution for business needs. Principal is combining life and disability wholesaling capabilities, giving you one team to work with for needs such as business protection, business succession, and key employee benefits—as well as the personal needs of business owners and key employees. This team will also support Principal's retail IDI sales.
    • When IDI is used to enhance or supplement workplace benefits, Principal is dedicating resources within our group benefits offices to help support those sales opportunities.
    • Principal will also be re-drawing some territories to better enable collaboration on your behalf among the business solutions and workplace benefits teams.

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

  • 2023 Year-End Processing Dates and Holiday Hours. Ticket submission, term applications: November 10. Ticket submission, permanent applications: November 3. Interview complete, term applications: November 17. Interview complete, permanent applications: November 10. Finalize UW requirements, term applications: November 27. Finalize UW requirements, permanent applications: November 27. Policy issue, term and permanent applications: December 18. See link for more dates & 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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Prudential

  • PLI Desktop to be Retired January 1, 2024. Prudential has decided to retire the Desktop version of Pru Life Illustrator (PLI) effective January 1, 2024. The Online version of PLI will continue to be available to illustrate all of Prudential’s Individual Life products and is accessible through PruXpress. This decision does not change your ability to use other systems to illustrate and quote Prudential Life products, such as Winflex and the numerous quoting sites. Follow the few steps outlined in these instructions to assist you in moving your saved cases from Desktop PLI to Online PLI. Once your cases have been moved to Online PLI they will appear in “Case Management” and be available for use just as they were in Desktop PLI. See link for more details.

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

  • 2023 Year-End Processing Dates and Holiday Hours. Underwriting will continue to approve and issue cases through Friday, December 29, 2023. All money to put new cases in force must be received by close of business on Wednesday, December 27, 2023. All 1035 paperwork including funds must be received by close of business on Friday, December 29, 2023. See link for more dates & details.
  • AcceleRate: A Fast, Easy Underwriting Experience You Can Rely On. AcceleRate provides you with a fast, easy, and more reliable way to do business with higher conversion rates.

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

  • Webinar: Creating Tax-Advantaged Dollars for LTC with SecureCare III. Join Securian to discover the unique premium structure of SecureCare III, an LTC and nonparticipating whole life insurance policy, and how you can help some clients leverage it to provide potential tax deductions and savings. The webinar takes place on Tuesday, November 21, 2023 at 2 pm ET / 11 am PT.
  • Webinar: Chasing the Sunset Series: Estate Planning Considerations to Make Today. The potential expiration of provisions in the Tax Cuts & Jobs Act presents a need for estate planning for clients with estates valued in excess of $6 million. Consider that by 2026, a single individual with a $10 million net worth could have an estate subject to a tax of $4 million. Securian will explore strategies using life insurance, gifting, and charitable giving for clients who may be affected. The webinar takes place on Thursday, November 16, 2023 at 2 pm ET / 11 am PT.
  • IUL Flyer: Stable, consistent returns lead to better client outcomes. Volatility can end up costing your clients long-term growth potential. Securian Financial offers an uncapped indexed crediting strategy on select indexed universal life (IUL) products designed to provide stable and consistent returns, which lead to better client outcomes when compared to capped strategies – especially in periods of significant volatility. The tables below show the annual returns for a capped S&P 500® Index strategy and the uncapped S&P PRISMSM, on a current basis, over a 20-year period.
  • eApp Now Available for Survivorship Products. With Securian's eApp now available for survivorship products, Eclipse Survivor II Indexed Universal Life and Variable Universal Life Survivor, there’s no need for paper applications.
  • New Guidelines for N-Terminal Pro-BNP. Through their new guidelines, Securian can offer competitive underwriting decisions and a simplified crediting program for NT-proBNP lab results.
  • Webinar: LTC/CI Planning For Every Life Stage. At Securian's next LTC Awareness Month webinar, they’ll guide you through a winning strategy that will help develop your expertise in this crucial area of financial planning so you can bring LTC protection to clients of ALL ages. Webinar takes place on November 8, 2023 at 2 pm ET.

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

  • Webinar: Back to Basics: The Essentials You Need to Know About Social Security. Many Americans get the majority of their retirement income from Social Security, and yet so many people need help figuring out their best options. Few financial professionals understand Social Security as well as they need to. In this session, Security Mutual will cover some of the basic concepts you will need to be able to explain to your clients. PLUS: Some ideas on how to use life insurance and annuities to help address your clients’ concerns. The webinar will take place on Wednesday, November 15, 2023 at 11:00 am ET.

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

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Symetra

  • Finish 2023 Strong with Symetra's Carrier Match Program. Looking to close your year-end business with the best possible underwriting offers for your clients? Submit your cases through Symetra's Carrier Match Program, and they’ll match formal or informal rate class offers from their group of eligible life insurance carriers through December 31, 2023!

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

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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