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3 Mark's In The Loop Newsletter

3 Mark Financial, Inc.

2/6/2019

Join Joe Roderer, ChFC, CLTC as he introduces Nationwide Indexed Universal Life now offering more choice, more guarantees, more transparency.

Webinar Wednesday January 13, 2019 at 3:00 pm Central

Register Now

  

American National Insurance Company Increased Retention Limits to $5,000,000

American National dramatically increased retention limits, allowing up to $5,000,000 per life to be kept with American National, rather than being ceded to a reinsurer. This change will result in speedier and more consistent underwriting decisions for individuals with larger policies, or several policies already inforce with American National. Additionally, by ceding less business to a reinsurer, American National will be able to increase efficiency.  Read More

The 4.5% Test

Considering a protection-focused IUL for your GUL clients? Concerns about the “guarantee-to-age” differences? Would, an IUL, even a protection-focused one, be conservative enough for them? Discover answers to those questions and more - in this quick 2-page flyer. 

Increased Max Illustrated Rates for Symetra Accumulator IUL Base and Select Index Strategies

Effective Feb. 8, 2019, we’re increasing the maximum illustrated rates for Symetra Accumulator IUL’s Base and Select index strategies.  Read more. 

The Lincoln Leader

Click here to read the latest version of The Lincoln Leader for updates on WealthAccumulate IUL, WealthPreserve IUL, MoneyGuard II and more.

 ONEMeeting: See Lincoln’s New Solutions in Action

We told you 2019 was going to be a busy year… and we’re starting it off with a bang with a number of new and updated product and process solutions that will help you SELL MORE, MORE EFFICIENTLY. Join host Steve Sabol, Competitive Market Solutions Creative Director, and his guests to come see Lincoln’s new solutions in ACTION.  Learn more.

Video: A True IUL, with No Surprises 

Other IULs include complex hidden charges and increase long-term risk to the clients policy. IUL Protect, a true IUL is designed to meet the fundamental client need of long-term security and stability, with cost- effective, stable premiums. Join Trey Reynolds, Mike Roscoe and Andrew DeMarco for a conversation on the unconventional design of IUL Protect. Watch videoTop 6 reasons to choose IUL ProtectFor True IUL Buyers flyer.

 Webinar: An Easy Strategy for Clients Who Feel Uneasy About the Market

Suggest life insurance as an asset to help clients stabilize and transfer their wealth if they have concerns about market performance. Register for this live 30-minute webinar with AXA’s Advanced Markets to learn more.  Register.

 Podcast: How to Rewire Your Retirement

In this 23-minute podcast, Jaime Hopkins of The American College speaks about how to “rewire” retirement by potentially supplementing and supercharging retirement planning with innovative life insurance strategies.  Listen.

Video: How Wellness Can Boost Policy Values

Wellness for Life Rewards® can boost your clients’ policy values through discounts on the cost of insurance. Have you seen the video?

 Engage Clients with the #InsureYourLove Campaign

The #InsureYourLove campaign helps you explore the value of life insurance with current and prospective clients—using engaging graphics, compelling statistics, videos, calculators, decision tools, and more! 

EOLI: Help Ensure an Income Tax-Free Death Benefit

Businesses own life insurance on their employees for a number of reasons. For small businesses, life insurance is usually connected with executive and succession planning arrangements. For larger businesses, it is often used to fund employee benefit plans. All of these plans depend on the tax-free nature of the death benefit. However, in 2006, Congress changed the rules with respect to some business-owned policies. Read more.

 Webinar Replay: 10-Pay Whole Life

Click here to watch a webinar replay that covers Lafayette’s 10-pay whole life product.

Help Protect Clients From the Unexpected

Forget crystal balls. With our long-term care (LTC) and chronic illness (CI) product portfolio, your clients don’t need to predict their future to feel prepared for it. We have the tools you need to help give your clients the protection they want with the flexibility they deserve.  Learn more.

5 Ways to Boost Your Business

Did you know the biggest opportunity in life insurance is in the broad market? Look to Pacific Life to help bridge the gap. Read more.

 4 Things You Should Look for in Your Term Carrier

What should you look for in affordable term life insurance coverage for your clients?

  • Competitive premiums in 10-, 15-, 20-, 25-, and 30-year periods
  • Marketing and operational support from a broad-market expert
  • Strong brand recognition and financial ratings
  • Attractive conversion option

See how PL Promise Term measures up. Download the client guide.

This week’s #InsureYourLove resources include a powerful video—“Life is for Living”—that will capture people’s attention and get them talking to you about life insurance.  Make sure they have some tissues ready!  Click here to view the video.

What Happens to Your GUL When Life Happens?

When life happens, everyday tasks and bills can go on hold or fall through the cracks. An unexpected medical expense, car accident, house repair — these things can take a toll and you could potentially miss a premium payment on your life insurance policy.  With Protective Advantage ChoiceSM UL, all of your guaranteed coverage won’t disappear if you miss a premium payment. Because we design products to stand the test of life.  Read more.

Living Benefits Selling Guide

Living a long life and spending many years in retirement is increasingly likely for most people. That means careful planning is a necessity. See how John Hancock’s living benefit riders, such as Critical Illness, Long-Term Care and Vitality, can offer your clients comprehensive protection both today and tomorrow. 

 Protection IUL is Outperforming the Competition

Protection IUL is now even more competitive, with a combination of lower premiums, cash value growth potential, and powerful living benefits  — offering new sales opportunities for you and more value for your clients. Protection IUL Tools and Resources. 

 It’s (Amazon) Prime Time!

Now, John Hancock Vitality PLUS members can earn a one-year Amazon Prime membership when they achieve Platinum Vitality Status three years in a row. To learn more about this new reward and all other rewards click here.

The 2019 Tax Guide is Here

Get the key tax figures and limits for 2019. And, learn how our Advanced Markets team is here to help you with your sales efforts. Read more.

 LTC Rider, Chronic Illness Rider or Both?

Our IUL policies offer an LTC Rider and a Chronic Illness Rider. In some cases, clients may benefit from both. Learn how splitting a larger policy into two could save your clients money and provide flexibility.  Read more.

 Have You Tried our LTC Cost of Care Calculator?

The LTC Cost of Care Calculator is a user-friendly tool created with your clients' needs in mind. Read more.

Why Sell Critical Illness? The Return of Premium Benefit

Tell your clients about Critical Illness Return of Premium benefit.  Read more.

Economic Review and Outlook: Leading Indicators Still in Good Shape

With the economic expansion in middle of its tenth year and close to a record length, typical warning signs for the next economic downturn are being closely watched. The yield curve (the spread between short- and long-term interest rates) has historically flattened late in the cycle before inverting about 12-to-18 months prior to a recession. The inversion of the 2- and 5-year Treasury rates in recent weeks fed rising investor concerns about an oncoming recession.  Read more.

Webinar: Introducing Survivorship BenefitAccess Rider

On Wednesday, February 20th, Prudential is hosting a webinar for IDA agencies, the subject of which is enhancements made to their SIUL product.

 On January 28, 2019, PruLife® Survivorship Index UL (SIUL) was enhanced to deliver more value and choice to clients than ever before. One of several changes that’s amplified the product is the addition of the new Survivorship BenefitAccess Rider (SBAR).

 SIUL’s flexibility can be a valuable product solution for clients’ wealth transfer strategies. Competitively priced, clients get a lot of value:

•Competitively priced death benefit protection with cash value growth potential.

•Access to the death benefit in case of chronic or terminal illness,* especially in widowhood.

•An attractive alternative to guaranteed universal life when it comes to wealth transfer and estate planning needs.

Join us on Feb 20th as Shawn Hilario, Director in Prudential’s Product Management team reviews the product enhancements and shares how these new changes can help you grow your business!  Call details are below, and can be added to your calendar after you register.

Guarantee a Good Start in 2019

Kick off the year with our Fast Start Sales Contest! When you submit Voyager UL policies from January 7 through February 15, Columbus Life will offer two cumulative levels of incentives. See flyer. 

Webinar: Key Employee Retention Solutions

we’re talking about key employee benefit solutions that can help for-profit businesses with their recruiting and retention goals. These same goals can be particularly important for non-profit and tax-exempt organizations. So, join us on February 11 for part two of this discussion and learn about unique solutions designed specifically for this market.  Learn more. 

 Key Employee Benefits Can Help Owners in Tight Labor Market

Offer your business clients the power of choice to help address the challenges that come with a tight labor market. Choose from employer-sponsored deferred compensation plans, bonus plans for specific business entity types or split dollar plans. No matter their challenge, you’ll benefit from finding the solutions, expertise and service – all in one place.  Read more.

Hybrid or linked-benefit products are a fresh approach to retirement and estate planning. These products, cover opposing risk groups by combining long-term care coverage with life insurance or an annuity.

Guaranteed Interest Rates increased in January

On Jan. 15, 2019, the Guaranteed Interest Rate increased from 1.55% to 1.65% for new issues of the following products:

  • Indexed Annuity Care - In all states where this product is sold.
  • Annuity Care II - In Massachusetts, New Hampshire, Pennsylvania, Vermont and Wisconsin only. The new rate applies to both the base and LTC Accumulated Values.

 Also on Jan. 15, 2019, the Guaranteed Interest Rate increased from 1.00% to 1.75% for new issues of  Annuity Care (in all states where this product is sold) and Legacy Care (in all states where this product is sold).

 New Sales Idea: Stretch Inherited Non-Qualified Annuity Death Benefits into Asset-Care 

When you have a client or prospect who inherits a nonqualified annuity death benefit from someone other than a spouse, be sure to consider the deferred income tax liability and required minimum distribution (RMD) requirements in IRC Section 72(s). An excellent way to use this inherited asset is to fund an Asset-Care policy.  Learn more.

Introducing the Nationwide YourLife CareMatters® Quick Quote Tool

The Nationwide YourLife CareMatters® Quick Quote Tool provides several exciting new enhancements to the old CareMatters® Benefit Estimator Tool. With a few simple inputs you can provide a more comprehensive assessment of the kind of long-term care benefits your clients may qualify for. Learn more.

 Protect Your Clients from the Medicare Myth

A red flag in many retirement plans? Counting on Medicare to help pay for potential long-term care costs. Many clients don't understand that Medicare does not pay for the type of care they'd need during an extended health care event. But if you don't talk to clients about how they plan to pay for care, it's a red flag you'll never see – and an opportunity you'll miss. We can help you have the long-term care conversation with clients and take the first step toward presenting them with solutions that address their top concerns.  Learn more.

In The Loop Annuities / LTC

ASSET TRANSFER TIPS 

For all annuity carriers

Transferring assets, or exchanging money via section 1035 of the tax code, may have tax consequences. Any questions regarding taxation should be referred to a qualified tax professional.

Call the Financial Institution/Insurance Company to see what they require to transfer the money e. g. some financial institutions, like Fidelity, require a call from the client to release money, others like Northwestern Mutual require their own surrender form to accompany the 1035/transfer form from the company receiving the money.

Attach a copy of a current policy/ account statement for the funds being transferred to the 1035/transfer document.

Complete the 1035/transfer form carefully and completely. Be sure all necessary signatures are obtained.

Send original transfer forms with the application to 3 Mark for processing.

Annuity Fact Finder 

Click here for a great Annuity Fact Finder

In The Loop Underwriting New Business

Improvements to Automated Underwriting

We recently made some improvements to our Automated Underwriting instant decision tool to improve your experience with the Living Promise e-App. Read more.

Move Your Business Forward with PruFast Track

PruFast Track is Prudential’s accelerated underwriting process that’s faster, less invasive, and more efficient than traditional underwriting. Take the “Try 5 Challenge” to experience the ease and convenience of PruFast Track.  Read more.

Accelerated Underwriting in New York State

Based upon the recently released Circular Letter No. 1 from the New York State Department of Financial Services (available here), William Penn Life Insurance Company of New York will be withdrawing its APPcelerate accelerated underwriting program while we continue to assess the requirements of the Circular Letter.   All William Penn applications signed on or after Monday, January 28, 2019 will be subject to traditional underwriting and not eligible for the APPcelerate accelerated underwriting program.

7 Tips for 24 Hour Underwriting

Our WriteFit Underwriting™ program uses new tools and techniques that predict relative mortality based on a number of behaviors, providing your clients with a life insurance buying experience that is fast, smooth and less invasive than traditional underwriting. Our FAQ addresses:

  • How you sell life insurance with WriteFit Underwriting
  • When to use WriteFit Underwriting vs. traditional underwriting
  • What to expect through the WriteFit Underwriting process, and more!
  • View FAQ

Service Times for Application Processing Improved in 2018

Process improvements in 2018 reduced year-over-year application submission cycle time by 24 hours. A redesign of the review process on e-signed ticket applications and streamlined payment workflows were major contributors to the reduction in service time.  Read more.

Expansion of Automated Underwriting – Beginning February 11, 2019

Automated Underwriting is a seamless underwriting process where cases are processed straight-through and do not require a traditional underwriting review.  Lincoln’s existing automated underwriting capabilities will be expanded to LincXpress Tele-App submissions in two phases: February 11, 2019 - Lincoln Life Elements Level Term and Early Q2 2019 for all single-life UL, IUL and VUL products.  Agent Overview flyer. 

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