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April 14, 2015 – April 20, 2015
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New Mobile Quoting App Now Available A new mobile quoting application, Quotes for Sales Professionals, is now available for download in the Apple App Store and Google Play store. This new quoting application will allow you to run quotes for Children's Whole Life, Living Promise, Guaranteed Advantage and Term Life Express on the go with or without an internet connection. Our Great TLA Rates Can Win the Sale Term Life Answers' new Preferred Plus, Preferred Nontobacco and Standard Nontobacco rates are the best rates we have ever offered. Offer Your Clients Protection and Flexibility GUL and GUL Plus come with many living benefits to offer your clients, all at no additional cost. Long-Term Care Rate Increase Implementation on In-Force Business We will be implementing a rate increase on in-force business in these additional states: Arkansas, Michigan, North Carolina, South Carolina, Tennessee, Wisconsin, and Wyoming. New DI Underwriting Guides Now Available New Underwriting Guides are available on Sales Professional Access or through your normal ordering channels.
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AIG Advanced Markets + InsMark AIG Advanced Markets is working with InsMark - a leader in compelling concept illustrations - to put the power of concept selling in your hands. Presenting the benefits of permanent insurance over term is as easy as turning a page! Now, as you grow your practice from basic survivor needs sales to sophisticated business solutions you will have the tools to illustrate the products in action. CLICK HERE to visit our playbook and download FREE InsMark software State Approvals Accelerated Access Solution States: All except NY & CA Effective: 3/30/15 Deferred Income Annuity and QLAC States: MS, OR, WA Effective: 3/30/15
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Principal Indexed Universal Life Flex Principal IUL Flex offers affordable protection and upside potential. Growth potential is fueled by two index-linked account options, including our unique Total Return Account that includes dividends in the growth measure. Check out a comparison of the options available to your clients.
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Suspending Captive Insurance Sales Practices As of April 17th, Minnesota Life and Securian Life are suspending the sale of life insurance policies where the sale involves the use of Captive Insurance Companies. The suspension of business will remain in effect while we review the practice. Visit Our EPIC Microsite Minnesota Life and Securian Life, a New York authorized insurer, proudly introduce EPIC, a new turnkey approach to estate planning. EPIC, or Estate Planning, Individually Centered, transcends traditional estate planning. Instead of just planning for what happens at death, EPIC helps clients plan for both life and death.
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Forms - Privacy Notice Change Effective immediately, the Standard Privacy Notice no longer needs to be provided for any products. Instead, the HIPAA Privacy Notice is to be supplied to the customer at the time of application when an LTC rider is added to a product. Please click here to view the new HIPAA Privacy Notice. It's also available on TransACT® as a standalone form (LTC Rider HIPAA Privacy Notice) and in the LTC Rider kit. On TransACT, select the Sales Tools tab, then click on Transamerica Forms under eOrdering. Select the dropdowns that apply to your application; the Service Type will be New Business. Foreign Nationals Can Benefit Big from Legacy Planning A foreign national has the same needs for life insurance that a U.S. citizen does. Carey Rokovich's LifeHealthPro article, "3 Ways to Mitigate Risk When Planning for non-U.S. Citizens," discusses the various types of legacy planning that can help a foreign national prosper.
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Blood and Urine Will No Longer be Test for HIV In certain jurisdictions, urine HIV testing will no longer be routinely required at ages 18 and older when the total amount inforce and applied for within 12 months is $50,001-$99,999 Contracts and Confirmation Letter Now By Email Starting April 13th, the Contracting team will be sending all executed contracts and confirmation letters by email. If your firm would like to opt out of this electronic process please call the Contracting Team at 1-877-638-0411, prompt 4.
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Reminder for Business Written in Illinois: Licensing Requirement for Compensation Any producer or group that expects to be compensated (Commission, Override, or Bonus) for any in-force or new business in Illinois must have a current license in Illinois.
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Rates Decreasing – Effective April 22, 2015 - SecureLiving® Growth+ with Income Choice Rider
- SecureLiving® Index 5
- SecureLiving® Index 7
- SecureLiving® Index 10 Plus
- SecureLiving® Index 5 (AK, MN, MO, OR, PA, WA Only)
- SecureLiving® Index 7 (AK, MN, MO, OR, PA, WA Only)
- SecureLiving® Index 10 Plus (AK, MN, MO, OR, PA, WA Only)
- SecureLiving® Index 5 with CapMaxSM
- SecureLiving® Index 7 with CapMaxSM
- SecureLiving® Index 10 Plus with CapMaxSM
- SecureLiving® Index 5 with CapMaxSM (AK, MN, MO, OR, PA, WA Only)
- SecureLiving® Index 7 with CapMaxSM (AK, MN, MO, OR, PA, WA Only)
- SecureLiving® Index 10 Plus with CapMaxSM (AK, MN, MO, OR, PA, WA Only)
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New Protection Index UL On Monday, March 30th, Zurich released Protection Index UL. While doing this, they renamed their previous product, Index UL to Value Index UL. Like other carriers, Zurich felt the need to separate the first generation, stand-alone indexed universal life product in order to redefine the true intent and purpose of each new product. CLICK HERE to view Protection Index UL vs Index UL
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New Jersey Product Changes Effective April 28, 2015 in New Jersey, maximum additional premium will be limited to $100,000 on the following products: -
Allianz 222® Annuity -
Core Income 7® Annuity -
Signature 7® Annuity
The New Barclays US Dynamic Balance Index II – We’re Playing To Our Strengths Effective April 28, 2015, on fixed index annuities, we are changing to the Barclays US Dynamic Balance Index II. It’s one of several index allocation options Allianz offers on its fixed index annuities. Exclusive to Allianz, the Barclays US Dynamic Balance Index II is designed to help manage volatility and provide a balanced approach, by shifting between an equity index and a replicated bond index – the Barclays US Aggregate RBI® Series 1 Index. 360 Benefit Rider Changes Effective April 28, 2015, we are making the following changes to the 360 Benefit rider available on Allianz 360 Annuity for newly issued contracts: -
Income option 1 base payout percentage is decreasing by 0.40% for single life and joint life -
Income option 2 base payout percentage is decreasing by 0.20% for single life and joint life -
Annual increase in lifetime payout percentage is decreasing by 0.10% for both income options -
Annual rider charge is increasing from 1.05% to 1.15%
Core Income Benefit Rider Changes Effective April 28, 2015, we are making the following changes to the Core Income Benefit rider available on Allianz Core Income 7® Annuity for newly issued contracts: Core Income 7 Annuity Commission Increase Effective April 28, 2015, we will be increasing total first-year commission paid on Core Income 7® Annuity new business by 50 basis points. Trail commissions are not changing. California Product Changes Effective April 28, 2015 in California, the fixed interest allocation guaranteed minimum interest rate will change from 0% to 0.10% on the following products: -
Allianz 222® Annuity -
Allianz 360 Annuity -
Allianz 365i® Annuity
Missouri Product Changes Effective April 28, 2015 in Missouri, monthly average with a spread and/or annual point-to-point with a spread will no longer have a cap on the following products: -
Allianz 222® Annuity -
Allianz 360 Annuity -
Core Income 7® Annuity -
Signature 7® Annuity
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Post Tax Season Sales Ideas Tax season is almost over and you will finally have access to your clients again. Review their tax returns with them so you can show how an annuity could: -
Remove taxable interest from their tax return -
Remove taxable dividend from their tax return -
Shelter income so social security payments will not be taxable -
Guarantee lifetime income, with a low taxable percentage, by converting funds to a SPIA
Automatic Enrollment Studies indicate that among new hires, participation rates in 401(k) plans with an automatic enrollment feature more than double to 91% compared to 42% in traditional plans that require voluntary enrollment. In addition to boosting participation, including an automatic enrollment feature in a 401(k) plan has the following advantages: -
It helps employees begin saving for their future -
It helps support increased contribution rates for owners and other highly compensated employees -
It enhances employee appreciation of the plan as an important employee benefit -
Employees save on a tax-deferred basis
The Voice Newsletter for Agents, April 2015 April 2015 Edition has some good information to share including: -
A feature on “Selling to Women - Stop Selling and Start Listening” – excellent piece that speaks to this important and growing market! – see page 3. -
Upcoming Pension Webinars – 4/15, 4/16, 4/22 and 4/23 (see page 2 for details). -
Another feature on Ethics called “Can You Go Broke Being too Ethical?” talks about doing the right thing and the aspect of “Situational Lying” -
Also includes our latest incentives and interest rates. (Note that our Annuity Incentive and Double-Conference Credit ends 4/30/15!)
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Protection UL '15 and Transition Rules Protection UL '15 has been launched, and it will be replacing our Protection UL '13 product. Along with getting more competitive in most scenarios, PUL '15 will continue to offer industry-leading premiums versus competitors guaranteed ULs. This is the Protection UL product that Vitality can be added to. Transition Rules are as follows: -
In order to provide a transition period in approved states, Protection UL '13 applications will be accepted through May 15, 2015. -
All pending Protection UL '13 applications must complete the formal underwriting process and all administrative requirements to issue the policy must be received by July 10, 2015.
State Approvals: John Hancock’s Vitality Program It's easy to get started with the John Hancock Vitality Program! Once your client's life insurance policy is issued, they just go about doing the things they've already been doing to stay healthy. They'll fill out a short health review, and they'll be sent a free Fitbit® to help easily track healthy behaviors.
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Sales of Income Preferred Products Will End May 15, 2015 in 41 States On May 15, 2015 we will discontinue sales of the Income Preferred fixed index annuities and Income Edge Plus rider in the following states: AK, AL, AR, AZ, CO, CT, DC, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, ME, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, RI, SC, SD, TN, UT, VA, VT, WI, WV, WY. Products and riders to be sunset include: - Income Preferred 10
- Income Preferred Bonus
- Income Preferred Bonus Pro
- Income Preferred Bonus S
- Income Edge Plus rider
Income Preferred Application deadlines: - Applications with cash received by Athene no later than 4 pm Central time on May 15, 2015 will be issued as applied for.
- Non-cash applications (e.g. 1035 exchanges, IRA rollovers) received by Athene no later than 4 pm Central time on May 15, 2015 will be issued as applied for, provided funds are received no later than 4 pm Central time June 26, 2015.
Sales of ATHENE Choice Series Products Will End May 15, 2015 in 33 States On May 15, 2015, we will discontinue all sales of the ATHENE Choice Series fixed index annuities and income riders in the following states: AL, AZ, AR, CO, DC, FL, GA, ID, IN, IA, KS, ME, MA, MI, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, RI, SC, SD, TN, VT, VA, WI, WV, WY. Products and riders to be sunset include: - Athene Enhanced Choice 8
- Athene Choice 10
- Athene Enhanced Choice 12
- Guaranteed Lifetime Withdrawal Benefit rider
- Enhanced Guaranteed Lifetime Withdrawal Benefit rider
Choice Series Application deadlines: - Applications with cash that are received in good order in our service center by May 15, 2015 will be issued as applied for.
- Non-cash applications (e.g. 1035 exchanges, IRA rollovers) that are received in good order in our service center by May 15, 2015 will be issued as applied for, provided funds are received no later than June 26, 2015.
- Faxed applications will not be accepted.
Premium Threshold for Reduced Commissions on Large Cases Effective immediately, we are adjusting the premium threshold for reduced commissions from $2 million in submitted premium to $1 million in total Accumulated Value per annuitant. Athene subjects all cases of $1 million or more written on the life of a single owner/annuitant to a disciplined review process that reflects the unique characteristics of these cases and their impact on our business. When large case premiums exceed an established threshold we may, at our discretion, reduce commissions or pay commissions in installments over a period of time.
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Madison Brokerage is Your Life, LTC, Annuity and DI Resource
Single Source Capability™ and proud to be an industry leader in
customer service, technology, and product distribution
You have your clients' backs, we have yours
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