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3 Mark's In The Loop Newsletter

3 Mark Financial, Inc.

March 20, 2019

Join Rick Katz Director, Business Development Institute, AIG as he introduces us to 

8 Obstacles and 8 Habits.

This presentation will share some ideas as to how you can take your practice to the next level by strengthening your weaknesses and engaging business owners in a process of planning ahead.

Webinar March 27 at 3:00 pm Central

Register Now

Video: The New “4% Rule”

We’ve all heard of “The 4% Rule” in financial planning… But have you seen its new successor, “The Rule of 25?”  Watch this quick video and start using The Rule of 25 to easily assist your clients in planning their ideal savings for retirement, including life insurance. Like what you see? Take it to the next level, and meet the Rule of 25’s offshoot for the financially accomplished in the “Pyramid of Philanthropy” video.

 Death and Taxes

Those are the only two things supposedly guaranteed in life, but chronic illness may be a close third. Start a conversation about why there’s more than one reason to buy life insurance using this colorful customizable infographic. 

 eStation Shutdown: April 30 I Connext is Live

 We are happy to announce that Connext - our NEW Producer Website - is live, and available for use by our producers and distribution partners.  As a result, eStation will shut down on April 30, 2019. After this date, eStation links will redirect to the Connext log in. No need to register - enter your existing eStation username and password. It's that easy!  Read more.

Balance is Not a Women’s Issue, It’s a Business Issue

“Balance for Better” was the theme of this year’s International Women's Day, which was celebrated on March 8th and kicked off a year that will emphasize how gender balance is essential for businesses and communities to thrive. Build on this focus by taking advantage of our women-focused tool kit  — a compilation of materials specifically designed to help you connect with your female clients and ensure your practice is addressing their specific planning needs and growing in this key market. 

Weekly Economic Review & Outlook: Keep Calm and Hire On

Job growth was much weaker than anticipated in February with payrolls growing by a paltry 20,000. Volatile shifts within multiple sectors, including construction, retail, health care and hospitality prompted the sharp slowdown from January’s rapid pace of hiring. Looking through the volatility, the three-month trend in job growth remains solid at 186,000, a pace more consistent with the late stage of an economic expansion.  Read more.

Video: See How Our LTCSR Gives Clients Flexibility with No Surprises

With our IUL Protect, your clients get protection and more – with a simple, "no-math," no-lapse guarantee to age 90 (or for 40 years, if purchased before age 50) and our highly competitive Long-Term Care Services℠ Rider1 (LTCSR). See for yourself how this rider can add another layer of flexibility to your clients' plans without the typical trade-offs.  Watch video now.

Life Insurance Planning Mistakes: The “Unholy Trinity”

The business life insurance titling mistake known as the "unholy trinity" or "goodman triangle" carries a significant risk of negative tax consequences when there are three parties to a life insurance policy.  Read more.

Client Digital Tool on Living Benefits of Life Insurance 

Many people think of life insurance only in terms of protecting loved ones. However, the right plan can also provide potential living benefits that can help you do more during your lifetime — and sets the course for a more comfortable retirement. After all, it’s called “life” insurance for a reason.  Learn more.

 WealthAccumulate IUL Landing Page

Get to know the value of working with Lincoln and the innovations that make Lincoln WealthAccumulate® IUL (2019) so appealing.  Visit site.

Our Term Upsell Program Gives You New Opportunities

Have you talked to your clients about increased coverage offers on Term Life Answers policies? If not, then you - and your clients - may be missing out.  Read more.

 Help Your IUL Clients Prepare for Their Annual Statements

Learn how to be prepared for questions your clients may have on their annual statements.  Read more.

We’ve updated our Fast Facts flyer with new 2019 tax levels for federal estate and gift tax rates, plus highlights brought about by the Tax Cuts and Jobs Act of 2017.

Help Clients Stay on Track - and Find New Sales Opportunities

Conducting annual policy reviews with clients offers you unique opportunities – not only can it help deepen existing relationships, but it can:

  •  Uncover new financial needs for current clients
  • Discover new sales opportunities and referrals
  • Promote asset retention through a family approach
  • Set you apart from other financial professionals

 Order our updated Policy Review Kit to learn more!

Save the Date: Approaching Business Owners PLN

Learn how easy it is to use our complimentary business planning services to uncover business owner needs and start planning conversations. We’ll show you tools and resources to open doors that may lead to life and disability insurance sales.  Learn more.

Eight Paths to Your Next Sale

Instead of creating an IUL that focuses on a single, preferred indexing account that maxes out illustrated values, Securian Financial designed Orion IUL to offer eight quality options. This means that you and your client can adjust strategies in the future to best adapt to market conditions – wherever life takes them.  Review the indexing options in Orion IUL, and then call to prepare for your next prospect appointment. 

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.

Cost of LTC From State to State

Do you know how much LTC typically costs in your state?  Click to find out. 

 Nationwide CareMatters: Learn the Difference a Cash Indemnity Policy Can Make

In order to offer your clients the freedom to cover their care expenses, without providing receipts to the insurance company, you will want to consider a cash indemnity policy vs. a reimbursement policy.  Watch this 2 minute video and/or read this white paper to learn how Nationwide is currently the only linked benefit product to offer cash indemnity benefits for long-term care for your clients.

LTC News You Can Use - February 2019

We want to help your business grow and make the new year even more successful.  Here are a couple positives to begin the year:

  •  We maintain our position as the leader in traditional LTCI industry.
  • The LTC13 (current) product block continues to perform as expected, and we again expect no changes in 2019.  We want to earn your promotion and business.

Long-Term Care Tax Advantages for Business Owners

Download the guide.

InsuranceNewsNet Highlights OneAmerica

The January edition of InsuranceNewsNet Magazine recently highlighted OneAmerica in "Shift in the Asset-Based LTCi Market is Expected to Grow," as one of three companies dominating the asset-based long-term care market.

There’s an LTC Planning Strategy for Every Client

The Lincoln MoneyGuard® II Playbook is one of our top planning resources to help you manage long-term care expense risk with clients. It contains case studies for the different types of clients within your practice. See how the #1 hybrid in the marketplace can help protect what matters most to them.  View playbook.

 Fund Future LTC Needs with Tax-Advantaged Dollars

Your clients can't predict when a health crisis might strike and derail their carefully crafted retirement plans and investment portfolios. You can't either. But you can talk to them about SecureCare Universal Life, a linked-benefit product that provides a cash benefit they can use however they want and helps shield their other assets from the impact of Long-Term Care (LTC) expenses.  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

Life Policy Management Guide

Nationwide provides the resources to simplify life policy management.  Get started. 

New Application Forms for All New PL Promise Business

Pacific Life understands the value of your time and the speed of service. In an effort to process applications more quickly, new questions have been added to three application forms. Previously, some of these questions may have been requested after submission. Providing the answers at the time of application should help decrease the additional requests to obtain information during underwriting.  Read more.

 Enhancements to Our PL Promise GUL Ticket Platforms

As of March 16, 2019, Pacific Life has made changes to our PL Promise GUL ticket platforms:

  •  iPipeline iGO was previously unable to submit a ticket for less than $50,000 of coverage.  They have updated their platform to allow e-tickets starting at $25,000 of coverage.
  • The ApplicInt platform is now launching the capability to accept a PL Promise GUL e-ticket.

 Full bulletin.

Introducing PruFast Track: Faster and Easier Underwriting

For 140 years, Prudential’s been evolving to make it easier and more convenient for you to do business with us. PruFast Track is our next exciting leap forward. Watch this short video to learn more.

New Foreign National & Premium Finance Guidelines

Hot off the presses!  I just wanted to share some new Marketing information and guidelines for Foreign National and Premium Finance business that launched earlier this month. For Foreign National Business, I have attached a piece on the new Foreign National Team that will be responsible for all underwriting and inquiries on Foreign National Business as well as a piece showing side by side comparisons of our old guidelines vs. new guidelines and finally a piece on our New Foreign National Guidelines. For Premium Finance business, attached is a piece on our new Premium Finance Guidelines and a piece on Specialty Lender Guidelines.

Quest for Best

We’ve compiled our best case submission tips and resources into a single, convenient location! Bookmark the “New Business Playbook” for all the latest updates on new tools and improvements. See more. 

 Now Live: Connext New Business Changes Since

Connext is our new producer website that will replace eStation in 2019 and provides our distribution partners and producers with a simpler, faster and more transparent experience for doing business with us. Our newest feature debut is the new business Changes Since filter, which quickly shows you policies that have changed after a specific date. Learn more.

PLUS Exceeds Clients’ Expectations

In our most recent client survey, 75% of respondents’ expectations were exceeded.  Read more.

Reduce Application Cycle Time by up to 7 Days

You can now minimize the time your clients spend authorizing Attending Physician’s Statements (APSs) through EMSI with OneTouch. Clients will be able to create a biometric signature that can be transferred to authorization forms sent to their doctor.

Making Coverage More Affordable and Accessible for Clients with Substandard Ratings 

John Hancock Vitality has something to offer everyone, but it can be especially beneficial for people with less than perfect health. Not only can it make their coverage more affordable, but it can also motivate them to live healthier lives. See how we’re offering these clients savings of as much as 20% when they elect Vitality PLUS on their permanent policies!

Tips for Easier and Quicker Submission and Processing

 Tips for easier case submission:

  • We’re all about making your life easier. Check out our submission optionsto see what best fits your needs.
  • For email document submissions, be sure to use your dedicated email address from your contact sheet. Always include it in the “To:” or “Cc:” lines only. Do not use the “Bcc:” line. Note that status emails we send to this address are not monitored and do not enter into our system. For case status questions, contact your Case Manager, or view status on the Pending Business Report.

 Tips for using new eDelivery:

  •  Term policies will automatically be eDelivered except for New York policies or selected wirehouse policies. When policy is eDelivered, a print, bounded policy is not mailed.
  • If physical delivery or signatures are preferred, you or the advisor can print the policy package.
  • Provide advisor, insured and owner email addresses before the policy is issued to avoid delays.
  • A list of delivery requirements is included in the email the Case Coordinator sends to the Field Office Contact when the policy has been issued.
  • The five-digit office number is required so the Field Office Contact can review the policy package. If your office number is less than five digits, add zeros in front of your number like “00111”.
  • Watch this video for additional details.

 Tips for beneficiary designation:

  •  When naming a minor beneficiary using the Uniform Gifts to Minors Act (UTMA), include the name and relationship to insured along with UTMA like “Jane Doe – UTMA; daughter”. The UTMA paperwork should still be submitted with full details.If including a Present Trust beneficiary, include the trust date.
  • If including a Testamentary Trust beneficiary, indicate “Testamentary Trust,” but don’t include a date. Make sure the trust exists in client’s will to avoid proceeds being paid to the contingent beneficiary, typically the estate.
  • A Collateral Assignment is not a beneficiary and shouldn’t be listed in the Beneficiary section of the application. It is indicated using a separate form and processed prior to any payout.
  • When naming children as beneficiaries, include their names rather than just indicating “children”.
  • With common names like “John Smith,” include the last four digits of the Social Security number so proceeds can be paid appropriately at claim time.
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