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3 Mark's In The Loop Newsletter

3 Mark Financial, Inc.

April 3, 2019

Join Scott Hoke, CLU, ChFC RVP, AXA and Bruce Guillemette, MSM, CLU, ChFC, FLMI, VP Advanced Sales AXA for

Key Executive Guaranteed Issue 

Webinar Later Today at 3:00 pm central

The AXA Guaranteed Issue Program streamlines the process for obtaining life insurance for a group of highly compensated key executives. Guaranteed Issue is available with all of AXA Equitable’s and MLOA’s permanent, single life products. Employers also have the flexibility to apply to add our industry-leading Long-Term Care Servicessm Rider (LTCSR).

Register Now

Webinar Why IUL? 

Join renowned AIG presenter Joe Ross, to learn more about how IULs work, why IUL's strong combination of downside protection and upside potential are resonating with customers, and AIG's IUL products. 

Webinar Thursday April 4 at 10:30 am central

Register Now

Reduced Pricing on UL Protector Is Here

We’re excited to announce reduced pricing on UL Protector, positioning us as an industry leader in the GUL marketplace.  Learn more.

llustrating the Impact of Inflation on the IRS Per Diem with the BenefitAccess Rider 

The cost of care during a chronic illness—like other items and services associated with healthcare—is subject to inflation. When explaining BAR chronic illness benefits, it’s not uncommon for the topic of inflation to be raised. With the most recent illustration update, you can now illustrate how inflation of the IRS Per Diem limit may impact BAR benefits.  Click here for an example of how to illustrate this new feature.

New Competitive OPTerm Pricing: Effective March 18 

New rates for OPTerm 10, 15, 20, 25 and 30 include a mix of decreases and increases. No changes to our highly-competitive rates for OPTerm 35 and 40. Rate decreases in more than 55% of pricing cells improved our ranking against core competitors.  Learn more.  

Know a client who’d benefit from a budget-friendly flexible policy?

We are excited to announce the launch of a new protection-focused IUL in the state of New York: Value+ Protector! Available in combination with our optional chronic illness rider: Accelerated Access Solution®.

In comparison to Value+ IUL, Value+ Protector features:

  • longer death benefit guarantees
  • higher cash value potential
  • competitive target premiums

Note the legacy Value+ IUL product will be discontinued beginning May 17, 2019. Product details and transition rules available in Bulletin 19-033. 

Weekly Economic Review & Outlook: Still Searching for Inflation

The Consumer Price Index (CPI) rose for February with gasoline prices higher. Still, the 12-month inflation rate remains tepid.  Read more.

Powerful Resources on Social Security from Nationwide

Nationwide has great resources to help you help your advisors and clients with Social Security. This includes a “Social Security 360 Analyzer” online tool which helps advisors help their clients understand longevity and modern life expectancies, which enables them to make more informed decisions with Social Security.  Other available resources include a break-even analysis to help determine whether higher payments from filing later will outweigh extra payments from filing early. Customers want help with Social Security! Check out these resources today. MicrositeFact finderSample reportShort video.

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.

These Podcasts are Golden

AVA Digital Awards has recognized AXA’s Life with inSight podcast series with a Gold Award for excellence in the planning, concept, direction, design and production of digital communications. Listen and subscribe today. 

Extra Interest Credit: As Unique as the Clients You Serve

With IUL Protect, clients get clarity and straightforward performance with our Extra Interest Credit. We’re making complex life insurance concepts simple.  Read more.

Symetra and Sumitomo Life

Tokyo-based Sumitomo Life is one of Japan’s oldest and largest life insurers with more than a century in the nsurance business. Headquartered in Bellevue, Wash., Symetra is led by a local management team that is focused on growing the company on a national level. Since 2016, Symetra has been an integral part of Sumitomo Life’s $339 billion family of companies. Read more

The No-Prospecting Opportunity

Of the $12 trillion life insurance protection gap, 1 in 2 U.S. households are existing policyowners with an average coverage gap of $225,000 per household. The greatest opportunity may be hiding in your book of business.  Download guide.

Rated Clients Can Save Big

By electing to engage in John Hancock’s Vitality PLUS, your rated clients not only receive motivation to live healthier, but they can also realize big premium savings — in some cases ending up at a premium that is even lower than if they had received a Preferred decision and did not engage in the program. SEE THE DIFFERENCE!  Read more

Term Conversions: Long-Term Care Rider Now Available

We’re excited to announce that the Long-Term Care (LTC) rider can now be added to a permanent policy upon conversion, and new evidence of insurability will be applied only to the LTC rider offer. Please refer to our updated Term Conversion guidelines for additional details, including the applicable requirements.

Make it a Word of Mouth Business

Everyone knows that word of mouth is a powerful way to grow your business. But exactly how do you create happy clients that want to refer you over and over again? Read Linda Levyne’s recent article on why the John Hancock Vitality solution is recommended nearly twice as often as traditional life insurance — hint, it has to do with frequent engagement and a positive customer experience.

Tax/State Law Updates: Refreshed Flyers

We’ve updated several of our “Because You Asked” flyers to reflect recent tax/state law updates. Refer to our Know the Law tool — a state-by-state interactive guide — to gain insights into how income taxes, creditor protection, and state estate taxes should be reflected in case design.

Central Intelligence

It's easy to stay current with important court rulings and legislative updates that impact our industry by checking out the summaries we provide in Central Intelligence (CI), our monthly publication and podcast.

 Some Things in Life are Free!

It’s never been easier to sell John Hancock Vitality. That’s because Vitality GO is now included on all our policies at no additional charge — so, you don’t really have to “sell it” at all!  Read more.

Why Create an Estate Plan?

Life insurance can play a key role in your clients' estate planning, and this guide shows you how — from basic tools to more sophisticated planning techniques.

Offsetting the Cost of Life Insurance with Your RMDs

You’re wanting to protect your family and build your retirement income simultaneously. But, owning a guaranteed* universal life insurance policy while contributing to your IRA may be limiting to your family’s budget.  With Protective Indexed Choice UL — using a step premium strategy — you can affordably pay for a policy now and use your Required Minimum Distributions (RMDs) to offset policy costs later in life.  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.

Webinar Replay: Open NEW DOORS with our new IUL and Lincoln Specialty Markets

During the March ONEmeeting, Steve Sabol and his guests looked at best practices on accessing these rapidly growing opportunities, what their unique needs are and the tools and IUL sales ideas you can run with NOW.  Meeting replay

Sequence of Returns: A Risk Your Clients May Face in Retirement

It's usually not in your client's best interest to take retirement distributions in years following a down market. Learn how an Income Advantage IUL policy can help provide an alternate source of income during these years.  Read more.

What is Your Backup Plan?

You’ve convinced your client of the need for both life insurance and long-term care planning. You’ve provided him with the information on how a life insurance policy with a long-term care rider works and he is ready to buy a policy.  He signs the app but then something unexpected happens. Your client, who seemed in fair health, is approved for the life insurance coverage, but is ineligible for the long-term care rider. So, now what? What happens next helps differentiate Income Advantage IUL and Life Protection Advantage IUL from our competitors.  Learn 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.

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.

Care Solutions Rate Calculator 

Our Care Solutions rate calculator quotes Annuity Care® II and all Asset-Care® products. It's easy, quick, accurate and consumer-friendly. Share the link with your producers today!

Reminder: Updated Tax Tables and LTC Tax Guide
Each year, as a result of tax law changes, the contribution and deduction limits for various accounts index for inflation. Our Advanced Sales team prepares Tax Tables at a Glance, which summarizes the new numbers for the year, and updates the Asset-based LTC Tax Guide for individuals and businesses, which reflects the changes for LTC. Review both documents for key 2019 tax information!

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

Principal’s Accelerated Underwriting continues to be the industry’s leading expedited underwriting program, making it faster and easier for your advisors to provide coverage to their clients. 

 As of Monday, April 1st, we have enhanced our Accelerated Underwriting program to include Standard, Standard Plus, Preferred and Super Preferred applicants to apply for Life Insurance!

Click the link to view the AU Checklist and Producer Guide

Automated Underwriting Enhancements

We have great news, we've made some major enhancements to Automated Underwriting, our 'instant decision' tool for Living Promise e-Applications.  Read more.

 

Can Your Age 50-69 Clients Get Up to $1 Million Coverage With No Medical Exams?

That’s it! Simple. Easy. Transparent. It’s PL Smooth Sailing Underwriting.  Learn 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.

Get on Board PruFast Track

PruFast Track is Prudential’s accelerated underwriting process that’s faster, less invasive, and more efficient than traditional underwriting. Experience the ease and convenience of PruFast Track today!  Watch this short video to learn more.

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!

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