October 2023 Carrier Updates

October 2023 Carrier Updates

Last Updated: October 26

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

Carriers with updates below:

Allianz
Corebridge
Concinnati Life
John Hancock
Legal & General America
Lincoln
MassMutual
Mutual of Omaha
Nationwide
North American
OneAmerica
Pacific Life
Principal
Protective
Prudential
Securian
Symetra

Allianz

  • Automatic Upgrades that Lower Client Policy Charges. Your qualifying clients may be automatically bumped up to Preferred+ (Allianz's best risk class). That means lower policy fees and charges throughout the life of the policy – and that can leave more in the policy to help increase their future growth potential. 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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Cincinnati

  • 2023 Year-End Processing Dates and Holiday Hours. Dec 8: All UW requirements must be received. Dec 18: Acceptance of outstanding offers must be received. Dec 27: All post issue requirements must be received by 4 pm eastern to place policies in force. Please see link for more dates & details.

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

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Corebridge

  • Value+Protector III. More reasons than ever to be your go-to product for cost-efficient death benefit protection. See flyer link for details.
  • Introducing SimpliNow Choice - your ticket to instant decision. Easily access ALL underwriting submission paths in the same session, on Corebridge's new iPipeline SimpliNow Choice platform.
  • Available October 9: Instant Decision on Select-a-Term!. Available October 9, 2023, iPipeline iGO and LifePipe users will have access to Corebirdge's new iPipeline SimpliNow Choice platform that can deliver a real-time offer on their existing fully featured Select-a-Term. Plus, you’ll have multiple ways to pass through lab-free Agile Undewriting+ process!

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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John Hancock

  • New! Chronic Illness rider. Help meet clients' specific needs for added protection — offer them our new Chronic Illness rider or our Long-Term Care rider, each providing a different approach to covering the "what-ifs" of life. See link for more dates and details.
  • 2023 Year-End Processing Dates and Holiday Hours. As the year end approaches, our focus will be on helping you place as many life insurance policies as possible to meet, or surpass, your 2023 business goals. Any submissions received after these dates may not allow adequate time for the policy to be placed by December 29, 2023. December 8: Submission of all outstanding underwriting and administrative requirements on your pending cases to Life New Business. December 20: All checks to put policies in force received in Life New Business. See link for more dates and details.
  • Compliance Reminder Regarding Advertising and Sales Materials. This flyer provides you with compliance guidelines on the use of advertising and sales materials.

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

  • Horizon ProNavigator: The Training Tool You've Been Waiting For. Legal & General has introduced a new training tool that will elevate Advisor and agency partner training to a whole new level. The Horizon ProNavigator is a comprehensive resource that centralizes all training materials in one accessible platform.
  • The best route for protecting clients. Legal & General America (LGA) is your go-to partner for increasing your life insurance close rate and growing your book. Below are four ways we're making it easier for you to help your clients secure protection. See link for details on four key advantages: collaboration, inclusivity, innovation, and speed.

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

  • Product Update - Lincoln WealthAccelerate® IUL. Effective October 16, 2023, Lincoln is making updates to the Lincoln WealthAccelerate® IUL. Lincoln WealthAccelerate® IUL - 10/16/23 will replace Lincoln WealthAccelerate® IUL. Summary of changes:
    • Fidelity AIM® Dividend – Fixed Bonus participation rate increased to 155% (from 140%)
    • Removed excess premium loads (current charge only)
    • Cost of Insurance increase and duration of charge extended to age 121
    • Target premium decrease of 5% on Level Death Benefit Option (DBO1)
    • Minimum Premium Requirement Increase
  • Coming Soon: 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. To be eligible for the TRP, the following guidelines will apply.
    • Submission deadline: Nov 10, 2023. All formal applications for Lincoln VULONE (2021) or SVULONE (2021) cases must be received at Lincoln in good order by Friday, Nov. 10, 2023. The TRP will not be available for any Lincoln VULONEor SVULONE application received at Lincoln on or after Nov. 13, 2023. *For any outstanding Trial offer, the formal application must be received in good order by Nov. 10, 2023. *For cases with the owner listed as “Trust to be Established,” the formal application must be signed by the insured and received in good order by Nov. 10, 2023. The only paperwork that Lincoln will not require at submission is the executed Certification of Trustee Powers with the trustee/owner’s signature, which must be received prior to policy issue.
    • Placement Deadline: Dec. 29, 2023. All Lincoln VULONE or SVULONE cases eligible for the TRP must be placed in force, or 1035 exchange initiated, by Dec. 29, 2023. For any case not placed in force or 1035 initiated by Dec. 29, 2023, the TRP offer will no longer be valid.

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

  • Express DI Enhancements. Through MassMutual's Express DI Underwriting program, applicants who meet certain criteria are eligible to apply for fully underwritten individual disability income insurance coverage and/or Business Overhead Expense coverage with fewer requirements.

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

  • Webinar: Break Down Barriers with Business Owners. Join Mutual of Omaha's Advanced Markets team to discuss key questions that help break down the current barriers to successful business planning on Wednesday, November 8. Please see link for details.
  • Inforce LTCi Rate Adjustments Effective January 1, 2024. Mutual of Omaha will be implementing the following inforce rate adjustments effective January 1, 2024. States affected include Georgia, Alabama, and Indiana. Please see link for details.
  • Quote DI in the Palm of Your Hand. Effective Thursday, October 19, 2023, you can easily quote Mutual Income Solutions directly on Mutual of Omaha's mobile app. See link for details.
  • IUL Portfolio Overview flyer. Flyer with quick overview of Life Protection Advantage and Income Advantage.
  • e-Signature Enhancements Are Live. Effective October 11, the following enhancements have been made to all client signatures on Mutual of Omaha's electronic application: *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. The products available for this application process include IUL Express, Term Life Express, Living Promise Whole Life, and Children’s Whole Life.
  • Inforce Illustrations Now Available on Most IULs. Mutual of Omaha's new inforce illustration self-service tool is available on only Income Advantage IUL, Life Protection Advantage IUL, and IULE inforce policies.
  • Client flyer: Indexed Universal Life Express. Download this client flyer with details about Indexed Universal Life Express.

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

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: Can You Predict the Future?. Planning for the future just got easier with a North American Indexed Universal Life policy. The Protected Death Benefit offers 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.
  • Increased Cap and Participation Rates, Effective October 21, 2023. North American’s enduring strength and stability allows us to continually evaluate new opportunities to deliver more value to our distribution partners and customers. As a result, we are excited to announce that we will be raising a cap and participation rate for certain index options on new business and inforce policies for Builder Plus IUL® 3. See link for details and new rates.
  • Breast Cancer Awareness Month marketing resources. You may have clients who feel they won't qualify for life insurance because of past or current health problems. While medical history does play a part in the underwriting process, life insurance is too important to let misconceptions stand in the way. October is Breast Cancer Awareness Month. Download these resources from North American to help promote the importance of life insurance and support breast cancer awareness all month long.

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

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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Pacific Life

  • PL Promise GUL & PL Promise Conversion UL: Reprice and Enhancements Now Available in Washington, DC. PL Promise GUL and PL Promise Conversion UL have been repriced and now offer the following enhancements in Washington, D.C. beginning October 16, 2023: *Greater commissionable target premiums (now in top 3 among competitors. *Higher return of premium feature (for policies over $250K face amounts). *Larger PL Promise GUL maximum face amount (to $20M to age 71). See link for more details.
  • Announcing New Requirements for Trust and Power of Attorney Certification Forms; Clarification on Payees. Effective November 15, 2023, Pacific Life will require Pacific Life Trust Certification and Power of Attorney (POA) Certification forms, along with applicable inforce policy requests (see full bulletin for more details).
  • 2023 Year-End Processing Dates and Holiday Hours. December 16, 2023: Last day for non-variable Loan, Withdrawal and Surrender Requests for distribution in 2023. December 22, 2023: Last day to receive critical requirements for 2023 income: initial premium and all delivery requirements, in good order, must be received to fund the policy regardless of funding source. Please see link for more details.
  • Announcing NEW pricing on PL Promise Term¹ life insurance. More competitive rates and improvements at $3M+ to allow pricing for higher face amounts! Highlights: *Top 3 in 99% of non-nicotine risk class combinations across all ages and face amounts on annual mode. *Top 4 for 99% of non-nicotine risk class combinations across all ages and face amounts on monthly mode. See link for more details.
  • How to help clients with grief, death, and life transitions with Amy Florian. For this episode of the LIFE Podcast for Financial Professionals, Andrea Brandon, Director of Value-Add Marketing for the Consumers Markets Division at Pacific Life dives into practical advice with Amy Florian, CEO of Corgenius and an expert in life transition. Financial professionals can learn tips for dealing with difficult conversations that arise around grief, death, and life transitions. Amy Florian and Corgenius are not affiliated with Pacific Life Insurance Company.
  • Social Media Tools. Build your business, build your brand. Learn how to use social media effectively to help expand your reach and spark new opportunities at anytime from anywhere. See link for guides, infographics, content kits, and more.
  • Now, Better Pricing for PL Promise Term Life Insurance. Effective September 5, 2023, Pacific Life Insurance Company is rolling out new pricing for PL Promise Term1 level premium life insurance — a product designed to offer affordable death benefit protection to consumers with household incomes of $50,000 - $250,000 and business owners needing short-term flexible coverage. Rates have been updated to increase competitiveness across all combinations of terms, risk classes, gender, and issue ages with a focus on lower premiums at $3 million of coverage and above. A 60-day transition period is provided. See link for more detail.
  • PL Promise Life Insurance Products At-a-Glance. Pacific Life Insurance Company is striving to help you and your clients secure a better financial future with simpler, more affordable life insurance options. Explore the PL Promise suite of products.

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

  • Underwriting update from Nate Berns, Chief Underwriter – Life Insurance. I want to provide some updates that can help you as you focus on a strong finish to the year.
    • New, higher multiples for key person coverage. Death benefits of up to 10 times key employees’ total compensation is the standard amount available. But higher amounts can be warranted in some situations. Effective immediately, we’ll consider 15-20 times compensation for well-established businesses and/or unique circumstances.
    • Enhancements to Guaranteed Issue (GI). Recently we announced exciting new changes for GI cases, including: *Consideration of 5-9 lives for Principal® Guaranteed Issue Term II in certain situations. *Increased multiples and alignment of face amount maximums between employer-owned and employee-owned cases. These changes apply to GI cases using either term or permanent products.
    • Offer your high-earning clients an easier way to get coverage. Principal® Business Solutions Enhanced Underwriting is ideal for business owners and other high-income earners who have high coverage needs but don’t want the inconvenience of traditional full underwriting. We leverage digital health data and other available information to offer coverage without insurance exams – even at multi-million dollar face amounts.
  • 2023 Year-End Processing Dates and Holiday Hours. To help guarantee your life and individual disability business is processed and paid in 2023, we need all final underwriting and administrative requirements for policy approval and issuance (including premium) by Dec. 8, and all delivery requirements for new business, adjustments, and reinstatements by Dec 22. Please see link for more details.
  • Reminder: New Applications Available Soon in Several States. Effective October 23, 2023, the updated life insurance application will be available in CA, FL, MT, ND, SD, and WY. Please see link for more details. Updated Life applications for all products are available for CA, FL, MT, ND, SD, and WY. Current applications for these states can be used with the updated Part B (comingled) or updated Parts A and C can be used with the current Part B. Please see link for more details.

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

  • 2023 Year-End Processing Dates and Holiday Hours. Nov. 3, 2023: Submission of informal applications that are intended to place by Year End. This will allow time to communicate the offer and coordinate the submission of the formal application(s). Dec. 13, 2023: All delivery requirements, including premium, must be received “In Good Order” to guarantee policy placement and compensation in 2023. Please see link for more dates & details.
  • Comprehensive Physical Program. Upon request, Underwriting will review and potentially utilize a client's existing physician's medical records in lieu of traditional age and amount exam requirements, for new business applications with face amounts between $10,000,000 and $25,000,000 where the offer is Standard or better. Please see link for details.
  • Important Service Information. Prudential is currently in the process of enhancing its Individual Life Insurance service platform to offer an improved experience to you and the clients you serve. This change has caused a temporary delay in processing some claims, as well as an increase in call volume and longer hold times. Prudential is working around the clock to remedy this situation as quickly as possible. If you encounter any issues that require immediate attention, please contact the escalation team.
  • October 2023 Index Account Changes. At Prudential, we are committed to maintaining financial discipline and continue to review impacts to the various index accounts offered on currently sold and no longer sold products. Overall higher hedging costs associated with capped accounts caused decreases, while uncapped accounts had lower hedge costs and were improved (spreads reduced). These changes will be effective for index segments starting October 15, 2023. Please see link for 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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Securian

  • Webinar: How to Present a Long-Term Care Solution. November is Long-Term Care Awareness Month and Securian is hosting a series of LTC webinars (almost) every Wednesday of the month. This first webinar is the perfect on-ramp to your LTC journey. Webinar on Wednesday, November 1. See link for details.
  • SecureCare III is Now Available in Delaware. The wait is over! SecureCare™ III is now available in Delaware. SecureCare III, a long-term care (LTC) and nonparticipating whole life insurance policy, is the next evolution in our SecureCare product line. It has all the things you love – plus more flexibility. And it’s now available in Delaware including its reprice rates. See link for details.
  • Increased Premium Limits for Select Products Sold with No Lapse Guarantee Agreement (NLGA). We want you to end your year closing big cases! To help, we’ve increased our premium limits for the first policy year only on new sales for select products sold with the No Lapse Guarantee Agreement (NLGA). Premium limits with the NLGA are now the greater of 5x target or $5mm for these products: Eclipse NY, Eclipse Protector II Indexed Universal Life (IUL), Eclipse Survivor II IUL, and Variable Universal Life (VUL) Survivor. Illustrations have been updated with this change. See link for details.
  • SecureCare III Coming to DE October 23, 2023. SecureCare™ III, a long-term care (LTC) and nonparticipating whole life insurance policy, is coming to Delaware on Monday, October 23. It has all the things you love about its predecessor — a cash indemnity benefit for LTC with no fine print or restrictions about how it can be used — plus more flexibility. Now clients can choose the protection that matters most to them: Maximize protection on their premium dollars with full return of premium OR maximize leverage on their premium dollars with LTC Boost. See link for details.
  • Competitive Underwriting for NT-proBNP. Securian can now offer competitive underwriting decisions through their new guidelines and simplified crediting program for NT-proBNP laboratory results. See link for details.
  • WriteFit Means an Improved Customer Experience. When it comes to improving your clients’ underwriting experience, WriteFit is a must. The top three reasons you choose WriteFit for eligible clients 91 percent of the time include: *An underwriting decision within 24 hours *Almost 60 percent of cases are accelerated without labs and exams *A 21 percent increase in placement rates. The stats speak for themselves. WriteFit is just one way Securian's underwriting team is looking out for you – and most importantly, your clients.

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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Symetra

  • 2023 Year-End Processing Dates and Holiday Hours. Mark your calendars with our year-end business processing deadlines. Please note that deadlines for Symetra SwiftTerm® differ from our permanent and core Term products. See link for list of deadlines.
  • Carrier Match Program. With their new Carrier Match Program, Symetra will match formal or informal rate class offers from their group of eligible life insurance carriers. The program is available with Symetra’s Accumulator Ascent and Protector IUL products for issue ages 20–65 and face amounts up to $5 million. To qualify, cases must be submitted by December 31, 2023, and issued by January 31, 2024.

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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