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3 Mark's Producer Essentials Newsletter

3 Mark Financial, Inc.

February 22, 2023

Join Lauren Hicks from Prudential this afternoon for: Inflation Risk - Protect yourself and have options in retirement

Rising inflation, increased market volatility, geopolitical uncertainty, and a changing but likely rising tax environment are all factors creating a perfect storm for retirement planning. That’s why it’s never been more critical than now to review your client's financial and retirement plans for both protection and income opportunities.

In this session, we'll talk about inflation and how life insurance, in addition to the death benefit protection, has living benefits your clients may find attractive. Learn how it can affect your client's life today and in retirement, and how life insurance can give them options they may not have considered to help meet their financial goals.

RESERVE MY SEAT

The 2023 Easy Reference Tax Guide is here

The consumer Tax Guide is a valuable reference tool that provides the annual key tax rates, figures, and updates important to a client’s overall financial strategy, including the estate and gift exemption, RMD distributions, and traditional and Roth IRAs and Qualified Plans limits. Get Prudential tax guide.

New contracting forms for third-party Life distribution

Prudential is implementing a new Broker Agreement for individual producers and firms and an updated appointment application form (Confidential Data Sheet – CDS). The revised January 2023 versions of these can be accessed via the PruXpress website. Please click Place New Business, then More New Business Tools, then New Business Licensing & Appointments. The new forms are also available for SuranceBay customers via SureLC. Learn more about Prudential's new contracting forms for third-party Life distribution.

No-Lapse Guarantee UL II Case Study

Your clients’ needs are constantly changing, so they need a product that can evolve with them. The return of premium feature, available for an additional charge, provides two 60-day windows during which the owner can surrender the policy for at least a portion of the adjusted premium paid. Read Nationwide's  No-Lapse Guarantee UL II Case study.

Tax Deductibility of LTC Riders & Linked Benefit Policies

Shawn Britt, CLU, CLTC, Director of LTC initiatives at Nationwide, provides an explanation on the tax deductibility of LTC coverage on life insurance, annuities, and linked benefit policies. Download the Nationwide Tax deductibility of LTC Rider and Linked Benefit Policies article.

Digital products at a glance

Explore North American’s full life insurance product line and easily compare product benefits to match your clients’ needs by visiting our digital products at a glance.

Love is in the Air

Valentine’s Day may be over, but it’s still a great time of year to share client-friendly content for couples:

Last call for webinar registration

Have you registered yet for our can’t-miss webinar featuring a very special guest on February 22? If not, there’s still time. Join the North American webinar to learn about common beneficiary designation mistakes and tips on best practices.

Symetra Surrender Value Enhancement Rider stands out

If clients are looking for high early net cash surrender value with minimal effect on their policy’s long-term growth potential–Symetra’s Surrender Value Enhancement Rider stands out! Available on Symetra’s indexed universal life insurance policies, the SVE Rider’s $500 charge is one-and-done. Explore Symetra SVE.

Fast Fact Flyer, 2023 tax updates

A new year brings new tax levels for federal estate and gift taxes. Our updated “Fast Facts” flyer provides some key tax figures and highlights for 2023. Check out Symetra's flyer.

Flexibility is important in life, allow Signature Guaranteed UL to put your client in charge of their policy

Signature GUL is an individual universal life insurance policy with a guaranteed death benefit feature. Signature GUL provides a guaranteed death benefit to a specified age (between ages 95 and 121) chosen at issue and also offers a cash-out rider with three guaranteed periods that allow you to fully surrender your policy in exchange for a return of premiums paid. Learn more about Signature GUL.

Accommodate your client’s specific needs with Signature Protection Indexed UL

Signature Protection Indexed Universal Life Insurance is a life insurance policy that is specifically designed to provide guaranteed death benefit protection as well as growth potential based on the stock market. Continue reading about Signature Protection IUL.

Upskill at MMSD University

Don’t forget to visit our new MMSD University digital knowledge hub for our current educational offerings, including easy-to-navigate illustration guides on popular concepts, tutorial videos for new business, iPipeline resources and Continuing Education opportunities. It is easily accessible at any time to fit your busy schedule. 

The Gift that Keeps on Giving

Purchasing a participating whole life insurance policy for a child or grandchild is an enduring gift that could truly last a lifetime. Watch our client-facing Gift of a Lifetime video or learn more with our consumer brochure.

Keep Pace with Their Future

Most likely, your clients’ vision of the future has them earning more income tomorrow than they do today. Their Disability Income insurance policy should be designed to keep up with increases in their income and earnings. View our brochure to learn how to help protect this.

New Informal Business Valuation and Buy-Sell Review RFP

Now there’s an easier, more efficient way to request these services. Learn about our new digital request for proposal (RFP) which offers an improved experience, fewer questions to answer, guidelines to help eliminate delays, and no more file size limits.

New GI Term II product for multi-life business cases

On Jan. 16, we introduced Principal Guaranteed Issue Term II–an innovative new product providing employers with a simple funding solution to meet a variety of business needs. Check out our new web page which includes details and marketing materials for this new product. 

New year, new (inflation-adjusted) numbers

2023 is bringing us new inflation-adjusted numbers, lifetime gift and estate-tax exemption now at $12,920,000. The annual gift-tax exclusion at $17,000. Estate Planning, Gifting, Tax Diversification, Spousal Lifetime Access Trust, Fingertip Tax Guide, Wait-and-see.

See the value of strong accumulation potential

Clients’ long-term goals are top of mind, so VULs with no-lapse guarantees can be an appealing solution. But these guarantees come with fees that can limit accumulation over time – leaving them with less money to use in the future. See how Strategic Objectives II VUL is different by design, offering low policy fees unrestricted by guarantees.

Growth and Protection – the best of both worlds

Have clients who are looking for both? Look no further than Protective's SOVUL II – our VUL solution for those who want unrestricted growth potential and the protection that a universal life product can offer. Remember, SOVUL II is now available on iPipeline.

Premium Deposit Account Rate Increase

Effective March 1, 2023, we are increasing our Premium Deposit Account (PDA) interest rates by 0.25%. New rates will be reflected on the financial professional site and in the illustration system.

Updated Marketing Materials

The following pieces have been updated to reflect the recent SecureCare III reprice in FL:

Product updates

  • IUL Protection Suite. Reduced Premiums and Increased Caps for Lincoln WealthPreserve 2 IUL (2020) and Lincoln WealthPreserve 2 Survivorship IUL (2020) – 02/13/23. Read More about Lincoln's updates.
  • MoneyGuard Suite Coming Soon to California – Lincoln MoneyGuard Market Advantage. Read Lincoln's launch article

Smart moves with Select-a-Term new rates

Effective February 21, 2023, Select-a-Term is repriced in all states, including New York. Nationally, the lower rate trend can be seen across all bands. Continue reading about Corebridge's new rates.

New and Improved Retire Stronger is here

Check out our new and improved Retire Stronger website. It's packed with product resources and sales tools to help grow your business.

The best life insurance companies of February 2023

We’re proud to be featured as one of the best life insurance companies for February 2023, as ranked by Policygenius. Check out the full list to see who else made the cut. 

Increase Rate Announcement on IULs

Check out our increased Caps on FlexLife, PeakLife, SummitLife, and SurvivorLife IULs.

BUILD I Black History Month 2023

This year's theme is Black Resistance. In 2023 National Life Group will continue to focus on recruiting, retaining, sustaining, and elevating our presence in middle America, specifically the Black community. Learn more.

Illustration Insight: Max Funding Columbus Life’s Indexed Explorer Plus for a Juvenile

Download our quick illustration guide for max funding juvenile policies.

Live Webinar: Illustrating Common IUL Sales Scenarios (Demonstration)

Please join us for Columbus Life’s next live webinar on February 23rd, 2023, where Senior Internal Wholesaler Jennifer Bunning and Director of Sales Support Eric Striet will discuss IUL sales scenarios as well as provide a live demonstration of how to illustrate them on our agent portal. This will be a very informative webinar for anybody who has recently begun doing business with Columbus Life.

Expand Your Clients’ Retirement Income Options

The primary purpose of life insurance is to provide a death benefit to a chosen beneficiary. But the opportunity to grow cash value on a tax-deferred basis can potentially complement the income your clients receive from traditional retirement assets. You can use the strategies and resources in our playbook to support your clients’ retirement planning needs.

It’s All About the Business

Explore 20 business-planning strategies in Pacific Life’s It’s All About the Business Guide to help your clients accomplish their retirement, business and estate planning goals.

A Friendly Way to Do Business

Pacific Accelerated Life+ (PAL+) is one seamless process that intelligently routes your application through the least invasive underwriting method possible. Get to know PAL+ better.

The LIFE Podcast Library

Listen in as The LIFE Podcast hosts, Pacific Life’s very own Stephen Mitchell and Bill Bell, provide informative and entertaining updates on what’s happening at Pacific Life and in the life insurance industry.

Keep new business moving with our pending business dashboard

Our pending business dashboard gives you real-time status updates and information on the next steps so you can keep your new business moving. Watch our video to learn how to keep track of your submitted business.

Protection + Technology…and Protective’s solution

Protective Velocity, our suite of digital tools to support the underwriting process, help streamline your processes to reduce administrative work. Explore all the tools that can accelerate your business processes.

Take it to the next level with these underwriting sweet spots

We provide clients with one simple journey, with instant, accelerated, lab-free experiences based on eligibility and availability. View all the resources highlighting our accelerated underwriting program.

Make the most out of our Horizon digital application process

Missed our webinar a few weeks ago walking you through how to customize and revise an offer as well as how to reopen an application? We’ve got you covered - watch the recording available now.

Symetra Underwriting Programs

Symetra has a variety of attractive and inclusive underwriting programs designed to make it easy for you to do business with us and for your clients to get the insurance they need. See our underwriting programs.

Now Available: eNIGO Automation for Lincoln MoneyGuard Cases

 Starting Feb. 13, 2023, eNIGO packets will automatically generate and send to agents and/or case managers to issue restrictive requirements on all online interview (eInterview) cases. Read more.

Table Shave Program for Universal Life Plans

Our competitive spotlight highlights the Columbus Life Table Shave Program for Universal Life Plans. Find Out More.

Producer Essential's Underwriting New Business

Miss the SECURE 2.0 webinar?

You may have heard that new legislation, the Consolidated Appropriations Act of 2023, passed which included the retirement bill, SECURE 2.0 Act of 2022 (SECURE 2.0). What’s in it? There are big changes coming for retirement savings that will have significant impacts for certain individuals, which makes knowing the details that much more important. View highlights: Introducing Highlights of Secure Act 2.0.

Case designs for the business market

Protective’s Executive UL is designed for executive benefits and corporate needs cases. See our sample case design brochure that demonstrates how you can leverage the product to provide a group-term carve-out solution that benefits both the organization and its key employees.

Secure Act 2.0

The SECURE 2.0 Act was signed into law at the end of December. The attachment summarizes the provisions of the act. Read our latest Central Intelligence issue.

 

Conversations with Business Clients

Uncover potential planning opportunities with business clients using life insurance. Take a look at Pacific Life’s recently-updated Business Solutions Playbook for tips on starting the conversation, client needs analysis questionnaire, and strategy ideas that could be a great fit for your business clients’ needs.

Help solve common problems facing business owners

Life insurance can play an important role in business continuation, executive bonus, key person strategies, non-qualified executive benefits – and more. Check out our materials to help you talk to business owners about the many ways indexed universal life insurance can help them address key business challenges.

Go Ahead: Look This Gift Horse in the Mouth

Meet the clients: Jack and Jill Underhill. See how tax benefits help harness gifts for multiple generations.

Estate Planning for Blended Families

Life insurance presents a variety of planning opportunities for blended families, and an opportunity that is not driven by traditional estate planning needs to pay estate taxes. Take a Closer Look.

Business Planning with Life Insurance

Life insurance can help keep “business as usual” in the event of an unexpected death or financial loss. North American has tips and examples on protecting the financial future and longevity of a business. Share our client-friendly blog post.

Help Set Your Clients Up for Success with a Qualified Plan

Tailored solutions to fit the needs of your business owner clients Info. Learn more.

Blog: Build your business with foreign nationals

Foreign nationals face unique planning challenges for their U.S.-based assets due to their inability to use certain aspects of tax codes. Without proper planning, non-U.S. citizens may face significant adverse federal estate and gift tax consequences. Specific trusts partnered with life insurance can help mitigate some of this risk. Read our blog.

More Opportunities for Foreign Nationals

Lincoln’s underwriting team announced updates including higher max age limits to age 75, term insurance for business coverage scenarios, and additional approved countries. See full guidelines.

Planning for LTC: The 4 words that drive the conversation

Reframe your LTC conversations with clients by discussing long-term care and income. Check out OneAmerica’s featured article in Insurance News Net (INN) to learn more about the four words that can kick-start the long-term care conversation.

Set the Record Straight about LTC Protection

When it comes to long-term care, your clients might not know where the facts end and the myths begin. Help your clients uncover truths about LTC protection today with OneAmerica Care Solutions. Download our Myths of LTC Consumer Brochure

Advanced Strategies Sales Team

Meet OneAmerica’s Advanced Strategies team, comprised of creative thinkers, who understand tax law, financial planning and complex insurance solutions. OneAmerica is here to support you and your clients’ needs with sophisticated, personalized solutions. Check out our Advanced Strategies Sales Team.

Nationwide Retirement Institute – LTC is not covered by Medicare

As people live longer, there is an increasing likelihood that they’ll need long-term care at some point in their lives. Download our NRI piece that goes over what things will and will not be covered with Medicare.

SecureCare III Rates Decrease in FL

Effective February 13, 2023, rates for SecureCare III will be reduced by 25 percent across all case scenarios in Florida. For Important Transition Rules please contact your dedicated SecureCare Wholesaler.

Commonly overlooked tax savings for financial professionals

Do you know which enhancements for small businesses under the #Tax Cuts and Job Acts will expire by 2026? Review our tips for #Financial professionals to help make sure you’re benefitting from the savings these deductions offer.

Helping a graying America avoid a retirement crisis

Did you know #Annuity ownership is linked to #Financial confidence? Discover why 73% of retirees who own an annuity feel confident they’ll be able to live the #Retirement lifestyle they’ve been planning.

Breaking Barriers | Grow with the Flow (Annuities)

Join the First WIN Webinar of 2023

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