Learn more about the latest in Life Insurance and related client solutions.
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3 Mark Financial, Inc.
January 15, 2020
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Join Jeff Wright, CFP, CLU, ChFC Regional Vice President as he introduces the
Symetra High-Net-Worth Foreign National Program
Webinar Later Today, at 3:00 PM Central
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Lower Monthly and Annual Rates for Term Effective January 13
Starting Monday, January 13, Protective Classic Choice Term will be even more competitive with lower rates and an average 1% premium decrease. We sent a bulletin to the field yesterday, January 2, and an email campaign begins January 13 to promote the reprice. Read the Bulletin here.
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Four Advanced Markets Topics to Carry Forward into 2020
- Benefit Better microsite — With low unemployment, now is the time to talk to business owners about opportunities to retain/reward key employees.
- Corporate split-dollar — To use corporate dollars to fund large life insurance policies, split-dollar is one of the go-to strategies. The Advanced Markets team recently launched Endorsement split-dollar and Non-equity collateral assignment split-dollar in JHIllustrator. Our popular Split dollar client guide.
- AM Blog — Our Advanced Markets' blog, which continues to be a hit in delivering current important talking points. Highlights this year included life insurance opportunities to address possible accumulated earnings tax for C Corps, and split-dollar loans for highly compensated executives.
Large-case microsite — Find everything you need to close large cases, including the recent addition of our rolling GRAT calculator and Finance Cost Comparison in action.
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Podcasts Available On Demand
Listen to Life with inSight, an AXA Equitable life insurance podcast series, to learn about important industry topics from subject matter experts. Go to podcasts.
28 Sales Concepts In Our Wizard
Discover targeted strategies for clients with AXA Equitable’s Sales Concept Finder.
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10 Tips to Help Build Tax-Efficient Retirement Income Plans
As you help clients plan for retirement, considering tax and distribution flexibility may help them avoid higher tax brackets and reduce unintended taxes on income sources such as Social Security. Tax efficiency can be complicated, and it may be necessary to work with a tax expert. In the meantime, here are a few helpful tips for potentially generating tax-efficient retirement income from Nationwide’s Retirement Institute: 10 tips to help build tax-efficient retirement income plans Tax efficiency Highlights
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Ideas for Building Client Relationships
In the latest season of Columbus Life’s Life Insights video series, producer Pierre Newkirk shares his best practices for building clients’ trust and loyalty while expanding into multiple types of insurance - and even in multiple countries. Watch now.
Help Clients Understand IUL
Do you have clients that could benefit from indexed universal life? Consider sharing this article that explains how IUL could work as a flexible planning tool to help meet their financial goals. View the article.
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Life Changes Fast!
Switched jobs. Moved. Expanded family. Many people don’t realize how much their lives have changed until they stop to think about it. The new year is a great opportunity to make sure their life insurance coverage keeps up. A Policy Review can help existing policy owners upgrade their coverage to meet their current needs. Find out more with Pacific Life’s life insurance checkup sales tool.
5 Steps to Easy Policy Review
Not sure where to start? Learn how to prepare, prospect, and conduct more effective policy reviews with Pacific Life’s Life Insurance Checkup Field Guide.
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30 Self-Service Inforce Illustrations
We’ve hit a milestone! Thirty current and discontinued products are now available for self-service inforce illustrations on WinFlex Web. See what’s new, and other resources you can use to start 2020 off right. Bulletin 19-107
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Symetra PIUL Extra Coverage Program
Are your clients looking for additional death benefit coverage? Through our Symetra PIUL Extra Coverage Program, clients who have purchased up to $3 million of fully underwritten Symetra permanent life insurance within the last two years can purchase an additional Symetra Protector IUL policy for up to $1 million in coverage with limited underwriting. Program highlights:
- Available Nov. 1, 2019, through March 31, 2020
- Product offered: Symetra Protector IUL
- Maximum additional death benefit coverage: $1 million
- Clients ages 60 or younger who have been issued a fully underwritten Symetra permanent life insurance policy (or policies) within the past two years at a Standard rate class or better can qualify for the program.2
- Symetra will request an MIB, MVR (motor vehicle record) and Rx script check.
See our program flyer for more details.
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Americans Resolve to Prioritize Health and Wellness in 2020: May Leave Financial Fitness Behind
The annual study from Allianz Life finds Americans will focus on well-being in 2020, but aren't planning ahead financially for a longer life. Key findings snapshot:
- Only 14% of people are including financial planning as a resolution in 2020 – down from 18% last year
- Over half (51%) of people say health and wellness is their top focus area, compared with 27% who said financial stability
- Baby boomers are most likely to view increasing healthcare costs as the greatest risk to their retirement (30% compared with 15% of Gen Xers and 8% of millennials)
Get the whole story here.
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Help Your Clients Solve More Business Needs
Principal Executive Variable Universal Life III (Executive VUL III) is designed specifically for the business market and can be ideal for financing deferred compensation plans, bonus plans, and more. In addition to the death benefit it provides, it can help with supplementing income, deferring or minimizing taxes, cash flow management, and liquidity needs. Executive VUL III is institutionally-priced and offers many business-friendly features:
- Design flexibility that allows you to choose between higher early cash surrender values or greater long-term growth potential
- Over 120 quality investment options from many well-known fund managers
- Underwriting options including Guaranteed Issue/Simplified Issue, Principal Accelerated Underwriting, and full underwriting
- Dedicated case design and sales specialists — and in-house plan and policy administration services afterward
Get marketing materials.
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From the White House: The SECURE Act
On December 20, 2019, President Trump signed into law one of the most significant pieces of retirement legislation in nearly a decade. The new law titled the Setting Every Community Up for Retirement Enhancement (SECURE) Act, includes changes to retirees’ use of IRAs and estate planning options. Several items in the SECURE Act will be effective as of December 31, 2019.
More here.
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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.
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Online Scheduling Now Available!
Two key administrative enhancements to SecureCare Universal Life are now live!
And be sure to keep an eye on our SecureCare landing page for tools and resources that will help maximize your marketing efforts in Long-Term Care Awareness Month.
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Care Solutions Live Deep Dives
The OneAmerica Care Solutions Live Deep Dives webinar series goes in-depth on topics related to our asset-based long-term care (LTC) protection. Join our free webinars every other Friday from 11 to 11:30 a.m. ET. Click here for the Q1 and Q2 2020 schedule and to register for a time.
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- 3 Easy Steps From Submission to Commission: Nationwide Updated Process for Care Matters
If you have questions about the submission process, premium options, etc. the attached flyer will help you see how easy the submission process has become for Care Matters Linked Benefit products. CareMatters Underwriting Process Guide
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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.
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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.
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Annuity Fact Finder
Click here for a great Annuity Fact Finder
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Anaphylaxis Underwriting Dialogue
Anaphylaxis, not something you hear about every day. However, do you know how to rate this risk when it comes to life insurance? Check out this Underwriting Dialogue to get more information from Legal & General America.
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Help a Client Understand Coverage Amounts
In a new edition of Columbus Life’s Underwriting FAQs video series, learn how to help a client understand coverage amounts for juveniles and non-working spouses. Watch the 25-second video.
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Inforce Illustrations at Your Fingertips
You now have the ability to run your own life insurance inforce illustrations with our self-service inforce illustration tool. Stop waiting and start running them today! Use the tool now
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Extension of the Table Upgrade
John Hancock recently launched Aspire, which creates a fantastic opportunity for you to better serve your clients living with type 1 and type 2 diabetes. Additionally, we continue to enhance our products so customers with substandard ratings can receive greater Vitality credits and premium savings when they take steps to improve their health. As we complete these enhancements across our product portfolio, we will be extending the automatic one-class table upgrade for eligible permanent product applicants when they elect Vitality PLUS and are approved with a substandard rating. Applications must be received by March 31, 2020. Additional transition details will be announced early next year.
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Want to become more efficient at filling out e-applications?
Not sure how to sign an application? Have questions about the e-application process?
Did you know…
• The iPipeline support team offers a free, live training demo of the iGO e-application software.
• The demo walks through the entire e-application process from starting a case to signing and submitting it to the carrier.
To sign- up, click this link Demos are held every Thursday a 3PM EST.
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