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Important Levinson News and Updates – Sagicor 4/08/24

Sagicor

Find Sagicor on iGo! Sagicor is excited to announce the launch of Sage Indexed Universal Life and WealthCare Indexed Single Premium Universal Life Insurance eApplications on iGO. Now, it’s even easier to submit eApplications to Sagicor — backed by the convenience of Accelewriting® — through your agency’s version of iGO, just as you submit today via SagicorAgent.com

Why Accelewriting?  

✔ Non-med underwriting with no paramed or telephone interview 

✔ Opportunity for an underwriting decision at point of sale 

✔ eApplication and eDelivery expedite processing and reduce cycle times 

GET THE WEALTHCARE ACCELEWRITING GUIDE

SEE THE WEALTH TRANSFER CASE STUDY

Important Levinson News and Updates – Mass Mutual 4/03/24

MassMutual Whole Life 8 Pay: Application Submissions Begin

MassMutual is adding even more flexibility to its Whole Life Product Portfolio with the addition of the new 8 Pay. The new product has the shortest payment period in MassMutual’s whole life spectrum and can be a good fit in a wide variety of sales situations including:

Death benefit protection

Opportunity for supplemental income in retirement

Non-qualified executive benefits

Premium Financing

Whole Life 8 Pay will be a modified endowment contract (MEC) under most circumstances.2 Combining the base product with the Life Insurance Supplement Rider (LISR) or Renewable Term Rider (RTR) to meet premium budget may also prevent MEC status while providing a competitive death benefit and cash value accumulation.

MassMutual Whole Life 8 Pay application submissions are live as of March 29th. Review the Whole Life 8 Pay Transition Rules here.

Important Levinson News and Updates – 3/27/24

This Week’s Highlights…

Important Levinson News and Updates – 3/13/24 – Sagicor Life Copy

What If? WealthCare for the “What if?”

While we can’t predict who’s going to need care, we do know that failing to address care funding could create serious issues for clients. Today, 50% of Americans who need age-related care will die broke, including those with savings of up to $1.8 million.1 They’re running out of money, liquidating assets to pay for care and leaving their heirs with less than $3,000 to cover final expenses. Click here for more

Important Levinson News and Updates – 3/13/24 – Sagicor Life Copy

What If? WealthCare for the “What if?”

While we can’t predict who’s going to need care, we do know that failing to address care funding could create serious issues for clients. Today, 50% of Americans who need age-related care will die broke, including those with savings of up to $1.8 million.1 They’re running out of money, liquidating assets to pay for care and leaving their heirs with less than $3,000 to cover final expenses. Click here for more

Important Levinson News and Updates – 3/13/24 – Sagicor Life

What If? WealthCare for the “What if?”

While we can’t predict who’s going to need care, we do know that failing to address care funding could create serious issues for clients. Today, 50% of Americans who need age-related care will die broke, including those with savings of up to $1.8 million.1 They’re running out of money, liquidating assets to pay for care and leaving their heirs with less than $3,000 to cover final expenses. Click here for more

Important Levinson News and Updates – 3/12/24

This Week’s Highlights …

Upcoming Product Changes

Important Levinson News and Updates – 3/11/24

AMERICAN NATIONAL

Full Commission on Internal Exchanges from Palladium

Beginning March 12, all internal replacements of Palladium Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy within the 30-day surrender window at the end of the initial rate guarantee period will be paid at 100% of the current commission rate.

New Annual Suitability Form Requirement Pushed Back to March 13

Updated suitability forms 4465-NAIC & 4465-NAIC-MN are delayed and are now starting March 13, 2024, due to additional updates and software migration coordination.

 

JOHN HANCOCK

Uncovering Opportunities for Wealthy Global Citizens

Thursday March 14, 2024 @ 11:00 AM PT

Join Carly Brooks, AVP and Counsel, Head of Advanced Markets, and Sue Pirog, Senior Underwriting Director, Foreign National Business, for a webinar on March 14 at 11:00 AM PT.

The wealthy global citizens market is one that’s growing at an extraordinary rate, making this an ideal time to gain insights that can help grow your business. You can expect to hear more about:

  • Why wealthy global citizens are interested in US life insurance
  • How new reporting requirements under the recent Corporate Transparency Act may reveal an even greater need for US life insurance among wealthy global citizens
  • Underwriting nuances, including why capacity is a key driver in foreign national cases
  • Why John Hancock is a differentiator in this market

Let John Hancock be your guide to navigate opportunities for wealthy global citizens.

 

NATIONWIDE

Enhancements to Foreign National Guidelines

Nationwide has recently made several significant updates to its international guidelines:

  • No $1,000,000 minimum required policy if the foreign national applicant has been in the US for less than 3 years 
  • All products including term are now available to foreign nationals
  • All riders are now available including the LTC rider for foreign nationals in the US for greater than 1 year 
  • Preferred risk classes are now available after 1 year of residence with preferred plus available after 3 years in the US
  • Accelerated underwriting is now available to anyone who has been in the US for 1 year
  • Expanded acceptance for foreign nationals from C & D countries

 

PACIFIC LIFE

Are Your Clients Retirement Ready?

Post Retirement Income and Healthcare Planning (Using Life Insurance)

Wednesday, March 27, 2024 @ 9:00 AM PT

Your clients are diligently saving for retirement. Are they prepared from a post-retirement income and healthcare needs perspective? How will they know whether they are prepared? This course will help you to help your clients understand the following:

  • How early retirees can build a healthcare bridge before becoming Medicare-eligible (age 65)
  • What Medicare options are available
  • How to address the risk of an LTC event during retirement
  • When is the ideal time to claim Social Security benefits
  • Retirees can address income needs before or in addition to claiming Social Security benefits

Additionally, the course will discuss how life insurance and annuities may work in conjunction with various retirement and healthcare strategies.

SECURIAN

Underwriting Hot Topic: Enhanced Psychological Guidelines

Securian’s new guidelines include the introduction of credits for individuals with high-functioning mental health condition(s). With this update, clients can expect:

  • Competitive underwriting offers for mild and moderate ADHD, anxiety, and depression histories that are well-controlled and stable. And the potential qualification for up to Preferred-Select classification.
  • Improved underwriting offers for individuals with long-term stable and controlled bipolar disorder
  • Increased cases qualifying for acceleration, WriteFit Underwriting
  • Reduction of Attending Physician Statement (APS) requests
  • Reduced turnaround times 

Important Levinson News and Updates – 2/29/24 – Wellabe/Great Western

Wellabe – Great Western Insurance

New payment options start March 1

We want to make sure our agents are well prepared for persisting business and well protected from chargebacks too. To eliminate clients’ unhonored payments caused by card failures and to keep your hard-earned business on the books, we’re updating our payment options. 

Starting tomorrow, we’ll only accept valid automatic bank drafts for Final Expense initial payments and no longer accept credit cards, debit cards, and Direct Express card payments during the application process. That’s because MyEnroller® can instantly validate bank account information to protect your sales.

Collect app signatures via a 5-digit code

When you can’t be in person with your client, you now have a new option through MyEnroller to finalize their application — collect their eSignature via a 5-digit code.

When you and your client opt for eSignature via code authorization, an email or text with enrollment documents will be sent to the applicant, along with a 5-digit code that you can’t access. You’ll verbally confirm that the applicant has received and was able to review the documents. Then you’ll ask the applicant to provide the code as a record of their signature. The phrase, “eSignature via security code,” along with the applicant’s signature and date, will be printed on the HIPAA authorization and applicable enrollment documents.

Important Levinson News and Updates – 2/23/24

AMERICAN NATIONAL

Full Commission on Internal Annuity Exchanges

Beginning March 12, all internal replacements of Palladium Multi-Year Guarantee (MYG) 3-10 plans to a new MYG 5-10 policy within the 30-day surrender window at the end of the initial rate guarantee period will be paid at 100% of the current commission rate. 

 

COREBRIDGE

Corebridge is Expanding Their Team

Effective immediately, two members of the Corebridge team have been promoted to lead new territories:

  • Clay Crume, previously Regional Director for Central Territory, is promoted to Regional Vice President – Midwest.
  • Sam Hamilton, previously Regional Director for East Territory, is promoted to Regional Vice President – Northwest.
  • The expansion creates several new openings for new regional directors in the IMO / BGA team, which they endeavor to fill as soon as possible.

LEGAL & GENERAL

Term-to-Term Exchange Program

Legal & General America is offering an exchange program allowing Banner Life customers who purchased OPTerm 10, 15, 20, 25, 30, or 35 within the past 48 months to trade up to a longer duration policy at his or her current attained age with no underwriting.

LINCOLN FINANCIAL

Download This Week’s Edition of the Lincoln Leader – Fixed Annuities

  • Market intel exchange
  • What’s the cost of waiting?
  • Digital resource guide
  • New blog post
  • Online account management
  • APV and fair market value
  • Client letter mailings
  • Updated web content for the 2023 tax season
  • Tax form information
  • IRA contribution information
  • February forms release
  • NAIC training required – VT
  • Contact information

MASS MUTUAL

Why Accumulation VUL in Today’s Market

Tuesday, March 12, 2024 @ 11:00 AM PT

Join Bobby Samuelson, Executive Editor of the Life Product Review, and Vern Carlson, MMSD Life National Sales Manager, to discuss where accumulation-oriented variable universal life insurance (VUL) fits in today’s marketplace and how to use the new Apex VUL to help clients achieve their financial goals. This call will not be recorded. Be sure to register in advance to attend this session.

MUTUAL OF OMAHA

LTCi Rate Adjustments Effective May 1, 2024

Mutual of Omaha will be implementing the following inforce rate adjustments in the state of Arkansas, effective May 1, 2024.

 

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