Last Updated: September 18
AIG
- Coming Soon – Important Changes to Guaranteed Issue Whole Life. At times, it is necessary to make adjustments to products in order to ensure long-term value for you, your clients, and AIG. For this reason, after a review of our Guaranteed Issue Whole Life (GIWL) product, we will be making the following changes. These changes will apply to all applications received on or after 5PM CST, September 14, 2018. These changes do not impact any previously issued policies.
- Rates: GIWL rates will increase at varying percentages depending upon age and face amount. However, even with this change, our rates will remain competitive in the marketplace.
- Chronic Illness (CI) Benefit: The maximum amount available for acceleration will be adjusted from 50% of the face amount to 25%.
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.
American National
- September 2018 Life and Annuity Rate Update. Please see attached September 2018 ANICO and ANICO NY Rates sheets for all life and annuity products. Highlights include:
- Palladium MYG 6: 3.35% guaranteed for 6 Years (at $100k premium and greater)!
- Palladium MYG 7: 3.44% guaranteed effective annualized yield for 7 years (at $100k premium or greater). 4.30% 1st Year, 3.30% Years 2-7 = 3.44%
- ASIA Plus 7 Index Annuity: 1 Year Point to Point w/ 100% Participation is now 4.70%, +35bps and with ASIA Plus 7 NY, it’s now 4.25%, +15bps!
- SPIA Rates going up too as of 9/1/18! Top Rates with Access to Funds after 3 Years! Click here for instant quoting: https://access.anico.com/PortalApp/imospiaweb/dispatch.do?reqPage=details&isImg=true
- Century Plus SPDA: 7.6% 1st Year Rate with option Lifetime Income Rider of 7.20% for 90bps annual fee. (10 Year Surrender, 1.55% min. guar. Int. rate, current 2.60%).
- Wealth Quest CTD 7 FPDA: Best Flex product, Non-Rolling Surrender Charge, Return of Premium Guarantee, 2% Bonus + 2.60% rate 1st yr. and 2% bonus for add-ons first 3 yrs. Full agent comp. 1st 3 yrs.
- Underwriting Band Changes. Effective 10/1/2018, American National will adjust the underwriting bands on all existing life insurance products in order to allow preferred rate classes at $250,000. Underwriting bands will change for all products. The maximum Xpress face amount will be $249,999. The minimum Xpress Plus face amount will be $250,000. For more information and transition period dates, click the link above.
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.
North American
- North American is thrilled to launch two new exciting product enhancements this month!
- ADDvantage® term. We’re pleased to announce new living benefits on ADDvantage term, which include critical and chronic illness being added with no extra premium! The endorsements on ADDvantage term are available in all states except California and Florida.
- Premium Deposit Agreement. Premium Deposit Agreement (PDA) is a new feature that will be available on most single life IUL products! It enables policyowners to submit a lump sum of money with the purpose of paying future annual premiums. PDA is available in all states except: Alaska, Illinois, Kansas, New Hampshire, Oregon, and Pennsylvania. Register for a webinar to learn more: 9/19 3 pm CDT (MGA Only), 9/24 3 pm CDT, or 9/25 10 am CDT.
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.
Pacific Life
- Up to $500,000 Coverage for Clients Age 50‐69, Any Risk, Any Application Process – PL Smooth Sailing. Up to $500,000 Life Insurance Death Benefit with No Medical Exams, No Blood Draws, and No Bodily Fluids. Ages 50–69, Any Risk Class including Substandard. Submit Full Application (Part 1) or use PL Express App. Once the client completes the Phone Interview, we’ll take it from there. As long as a comprehensive physical with blood work is available from the applicant’s primary physician within 18 months of the application, that’s it. We order the typical prescription report, medical information bureau, and motor vehicle report and we’re done.
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.
SBLI
- Lower Rates for Larger Cases. New rates for cases over $500,000 (particularly for women). Click here to see the new lower rates. Plus, all of our products come with LegacyShield®, a secure online service that helps clients store, organize and share key legacy information. Click here to see LegacyShield in action.
- Top 2 97% of the time for females, all durations (1)
- Top 2 88% of the time for ages 20-70, all durations (2)
- Top 2 98% of the time for 30-year term (3)
- 1 - Based on 1352 cells sampled on July 06, 2018 covering T10, T15, T20 and T30, females ages 20-70, $750k and $1M face amounts in four non-nicotine underwriting classes, against 12 competitors. 2 - Based on 2704 cells sampled on July 06, 2018 covering T10, T15, T20 and T30, males and females, $750k and $1M face amounts in four non-nicotine underwriting classes, against 12 competitors. 3 - Based on 496 cells sampled on July 06, 2018 covering males and females ages 20-70, $750k and $1M face amounts in four non-nicotine underwriting classes, against 12 competitors. SBLI rates as of July 23, 2018.
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.
Symetra
- Coming Soon: Symetra's Preferred Cancer Underwriting Program. With over 14 million people receiving a diagnosis each year, cancer is one of the world’s most pressing health challenges. Many of those people who need life insurance don’t qualify for affordable coverage because of their diagnosis. At Symetra, we’re hoping to change that. Look for more details about our Symetra Preferred Cancer Program coming in September.
- How SLATs Can Help Clients Maximize Their Legacies without Giving up Flexibility. Repositioning trust assets using life insurance in a spousal lifetime access trust (SLAT) can help minimize estate taxes and provide discretionary lifetime income for a non-grantor beneficiary spouse. It’s the best of both worlds: access to trust assets, a legacy enhanced by life insurance cash values, and ultimately, a death benefit generally free of federal estate and income taxes. Check out our recently updated SLAT marketing tools for more information.
- Introducing New Term Life Insurance. At Symetra, we’re always fine-tuning our products to ensure they are competitive, fulfill your clients’ financial needs and help you build your business. That’s why we’re pleased to introduce our new Symetra Term Life Insurance product.
Designed for business and family protection, our new Symetra Term offers even more competitive pricing than before, with larger price breaks on policies with face amounts of $2.5 million and above.1 It will be available for sale starting Sept. 17, 2018. Transition rules and timeline:
- Sept. 7, 2018: Quotes for our new 2018 term product will be available on Winflex and Symetra Life Illustrator, along with our current term product.
- Sept. 16, 2018: To receive our current term product, applications must be signed on or before this date.
- Sept. 17, 2018: Our new term product will be available for sale in approved states. Applications will be available on symetra.com, iPipeline, Laser App and Winflex. We will no longer accept informal applications for our new term product, unless face amounts are $2.5 million and above. Quotes for our current term product will no longer be available on Winflex, Symetra Life Illustrator or Symetra Express. Application is also no longer available through Symetra Express. All formal applications signed on or after this date will automatically receive our new term product.
- Nov. 16, 2018: All current term cases must be issued/paid or they will be closed.
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.
