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3 Mark's In The Loop Newsletter

3 Mark Financial, Inc.

June 2, 2021

Join Tom Brown and Joe Ross, ChFC, CLU, CRC for

Tax Prognostications & Life Insurance

Webinar One Week From Today, June 9th at 3:00 pm central

Reserve my seat

Three tax changes the Biden Administration has promoted have the ability to create a Wealth Transfer Tax Tsunami. 

Find out what these three tax proposals are, and how you can defend your clients with life insurance.

Join us to explore this opportunity and learn how AIG can help!

Service Enhancement – Priority Mailbox for Miscellaneous Producer Requirements

We’re excited to share that we’ve identified an opportunity to improve handling of “Miscellaneous Producer Requirements” posted by our underwriters. Learn more about this new process.

Effective June 1, 2021, Premium Limits for PruLife Custom Premier II Will Increase in the State of New York

We are pleased to announce that the premium limit will increase from $500,000 to $1,000,000 for PruLife Custom Premier II policies, in all years, in the state of New York beginning June 1, 2021. Learn more.

Big Opportunity in the Small Business Market

4.4 million small businesses were started in 2020. There are opportunities for you with the business owners themselves for both their business and individual life insurance needs, and with their families, their partners, their employees, etc. One conversation could lead to exponential opportunities that could span decades. Use the new Small Business eBook and get started.

Principal Business Needs Assessment

This innovative, digital resource allows you to approach more business clients and prospects so they can uncover planning needs to help protect their financial well-being and prepare for the future. Learn more.

Death Benefit Only plans

Principal Guaranteed Issue Term can provide an attractive option to informally finance DBO and DBO (Tax Exempt) plans with 25 or more covered employees. Download our flyer to learn about the details.

Enhanced Principal Deferred Compensation – Select Reward

Principal Deferred Comp – Select Reward plans are nonqualified plans that offer benefits for employers and the key employees they select to participate. View Employer Summary (for-profit).

The Pandemic’s Effect on the Likelihood to Buy Life Insurance

As part of the industry-wide campaign #HelpProtectOurFamilies, LIMRA has shared the key findings from the 2021 Insurance Barometer Study, including how the pandemic has affected consumers’ awareness and perceived need for life insurance. Watch the video.

New Accumulation IUL

Recent tax legislation means we can now offer even better cash value growth potential with AIUL21 — ensuring it continues to lead the way in the highly competitive space of supplemental retirement income. The AIUL stands out in short-pay scenarios. Accumulation IUL '21 has been approved in all states except Guam. 

Key resources

John Hancock Vitality

Watch this 15-minute webinar where we share real data and real outcomes from clients just like yours who opted for John Hancock Vitality and are reaping the benefits.

Here’s What You Need to Know About CAA 2021, Section 7702 & the Impact to Life Insurance

On 12/28/2020, the Consolidated Appropriations Act, 2021 (“CAA 2021”), became law. The CAA 2021 contains a revision to Section 7702 of the Internal Revenue Code (“Code”), the 1984 rule that governs the definition of life insurance.  Learn more about Section 7702 and the impact of the changes.

Be a Catalyst for Change

National Life is proud to announce the launch of BUILD, a new opportunity for agent leaders like you to be catalysts of change. Read more.

Coming Soon: New & Improved Flexible Premium Indexed Annuity Illustrations

NLGroup Illustrations – ForeSight Web will include FIT Secure Income and FIT Select Growth. Read more.

The Mobile App Provides a Fresh Look at Client Intelligence

Digital Deep Dive: Keeping you connected to your clients’ needs. Read more.

Why SBLI Flex Whole Life?

The strength of a whole life policy lies in its versatility. On the one hand, it helps guarantee the protection of your family’s financial future. On the other, it’s a concrete asset when the financial markets are down; building guaranteed cash value over time and offering the potential for enhanced growth with dividends that can supplement your income needs when you need it most. Download our customizable marketing piece.

Updated – Challenge Accepted: Embracing the Transformation of Our Industry

Learn more about 2021’s biggest growth opportunities and how we can help you say challenge accepted! Check out our resource center here.

Allianz Life Pro+ Elite available on the inforce illustrations tool

You now have access to run Allianz Life Pro+ Elite Fixed Index Universal Life Insurance Policy inforce illustrations with our self-service inforce illustration tool. Stop waiting and start running them today! Visit allianzlife.com to run your inforce illustrations. 

Be Ready for the Transfer of Wealth That Is Coming!

It's time to make leaving a legacy easier. For many clients, legacy planning may be a topic they've never considered because it involves emotionally difficult decisions. Nationwide developed Legacy Essentials to increase opportunities for empathetic conversations around living in retirement and leaving a legacy, reinforcing your value as a trusted partner who designs holistic solutions to their needs. Learn more.

Current: The Legacy and Estate Planning Issue

Empowering better solutions through actionable insights. Access the spring 'Current' issue to learn about several hot current topics that can help you help your clients.

Compare the Options Within the Living Access Benefits Suite

The Nationwide Living Access Benefits allow policyowners to access a portion of their policy’s death benefit when the insured has a qualifying chronic illness, critical illness or terminal illness. Check out our comparison guide.

Elevating Our Game to Support You

Our new national campaign debuted during the PGA Championship last week. Once again, we’re shining the spotlight on YOU and the critical role you play in helping people feel confident about their financial futures. Look for ads and promotions on various platforms through the fall. Watch the TV Commercial | Visit seethefutureinyou.com for new tools and resources.

It’s a Great Time for Peace of Mind

May is both Mental Health Awareness and Women’s Health month. What better time to discuss the peace of mind that comes with life insurance protection? Use our customizable infographics to help get the conversation started.

Upline Licensing, Appointment, Solicitation, and Commission Sharing Updates

Global Atlantic has recently completed a review of Upline licensing, appointment, solicitation, and commission sharing regulations. In summary, eighteen (18) states require that Uplines in a writing agent’s hierarchy must be insurance licensed to receive commission. Three (3) states also require Uplines to be state appointed by the insurance company paying the commission. Read the Compliance Bulletin.

Did you know that the average face amount of IUL policies sold in 2019 was below $500,000?

Just because your go-to IUL solution plays well in large case scenarios doesn’t mean it’s the best fit for the majority of your clients. Instead, suggest Protective Indexed Choice UL, a policy that delivers more value when clients need $500,000 or less in coverage. Visit our website to download a look at ICUL vs the competition.

Remember Initial Premium Acceptance Rules throughout 2021

Keep your business going strong in 2021 by making sure your cases are efficiently pushed through our new business process. For a full set of guidelines, review our Initial Premium Acceptance Rules.

New, available June 1: Symetra Allocation Index (AI) Strategies

Looking for an innovative approach to help your clients achieve level policy performance over the long term? Get ready for our game-changing Allocation Index (AI) Strategies (PDF).  Available with both our Accumulator and Protector IUL products. Learn more.

Symetra IUL policy details now available on our customer portal

We’re excited to announce that we’ve further enhanced the portal by adding in-force policy details for our indexed universal life (IUL) products. Review our Digital Customer Experience flyer.

Recharge Your Social Media Efforts

Learn distinctions between different social media platforms to help you be effective and connect with more customers and business contacts. Get started today with some best practices for social media marketing. Read the latest Broad Market Insights.

Land Of The Free, Because Of The Brave

On this Memorial Day for those that have served and more importantly to those that have given the ultimate sacrifice all of us at OneAmerica would like to say Thank you!

New Advisor Sales Tool: Cost of Care Calculator

Use this new Cost of Care Calculator to help illustrate and compare average long-term care costs when discussing the importance of LTC planning with you clients.

The OneAmerica Difference: Lifetime LTC Protection

Download this sales tool to use when speaking to your clients about how OneAmerica offers a combination of protection and service you won't find anywhere else.

Updates LTC Catalyst Kit

This is a great “starter” set of long-term care (LTC) emails for you to use with your downline agents. The kit includes a set of pre-built emails, so all marketers have to do is add their logo and the required disclosures and then hit send! Learn more.

School Is In Session!

Setting up virtual meetings with firms and BGA’s is easy with our new School kits! Start to finish with an email invite, sample agenda template and a program overview.

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

VUL Underwriting Upgrade

Effective immediately, Lincoln is offering an enhanced underwriting program to provide even more value with our suite of Lincoln VULONE product solutions. View the program.

Service Enhancement – Priority Mailbox for Miscellaneous Producer Requirements

We’re excited to share that we’ve identified an opportunity to improve handling of “Miscellaneous Producer Requirements” posted by our underwriters. Learn more about this new process.

2 Chances for a Faster Process

With most accelerated underwriting options, your clients are either in or out. But PL Promise Term offers qualifying applicants two opportunities for a touch-free underwriting experience, which means—odds are—clients stand for a better chance of getting a hassle-free offer. Read this handy flyer to learn more about our underwriting programs—PL Swift Sailing and PL Smooth Sailing.

Underwriting and New Business Improvements Coming as a Result of Your Feedback

Our contracted producers are at the center of every decision we make and that is why your input is so important to us. We strive to be your preferred carrier and the best way we can do that is to understand the ways we can continue to improve our support for you and your growing business. Find Out More.

Help Agents Communicate with Clients

Finally, insurance that doesn’t require a home visit. A great way for clients to learn about our fast, less invasive application process. A consumer-flyer makes it easy. Check out our customizable marketing piece.

Help Your Business Move Fast…Faster…Fastest

In just three simple steps, you can get business done faster with our streamlined drop ticket solution. No meddlesome paperwork, no paramed scheduling, no stress. Learn more.

Value+ Protector II in a Breeze

Getting life insurance protection with strong guarantees can be simple and fast. With non-medical underwriting, some protection-focused IUL clients don’t need to go through in-person exams or labs and nearly 75 percent of non-medical UW cases are approved in 5 business days or less, as long as the application package is submitted in good order using our electronic application system.  Check out the details.

Important Life Underwriting Updates

We are adjusting our temporary fully underwritten life insurance underwriting guidelines. Learn more.

 Washington State Underwriting and Compensation Updates

Due to the approaching WA Cares Fund deadline, we are experiencing a significant increase in application volumes. Therefore, we are instituting underwriting and commission changes for long-term care applications received from the state of Washington. Learn more.

New Advisor One-Pager

Legal & General America is the US insurance arm of Legal & General Group — leveraging the expertise of the world’s 7th largest insurer and a major global investor. Our streamlined digital journey uses best-in-class technology to create better experiences for our customers and a more human way to buy and sell life insurance. Download PDF.

Electronic Health Records (EHRs) integrated into our digital platform

Legal & General America is introducing automatic EHR ordering into our digital platform to not only give clients a simpler, more convenient process but also much faster exam-free approvals for eligible applicants. Read more.

Updated underwriting information

During the height of the COVID-19 pandemic, North American made some underwriting modifications to accommodate for paramed exams that were harder to schedule. As things begin to open back up, we are reverting back to some of our standard timelines. Get updated underwriting information to keep on hand as you continue to process cases.

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