Bi-Weekly Update from MVP Financial Services
Bi-Weekly Update from MVP Financial Services
    Bi-Weekly Update from MVP Financial Services, Inc.               01/19/2021    
Dear Most Valued Partner, Happy New Year, and welcome to the new issue of MVP's News2Use. We hope you find this newsletter to be helpful and forward it on to a colleague. If someone has forwarded this to you, please consider subscribing --> Manage My Subscriptions
DIY Quotes & Illustrations
iGo Electronic Applications
Quick Apps & Drop Tickets
New COVID Relief Legislation
Deep within the Consolidated Appropriations Act (CAA) 2021 are the new interest rate assumptions via Sec 7702 that will allow for more MEC space (more premium, less death benefit) in a cash value policy. The interest rates originally built into these assumptions were based on the rates of the 1980s. 
The language has been changed to account for prevailing interest rates. What is unknown, at this time, is if applicable products need to be re-filed or re-designed. So we may see the impact of these changes in carrier's permanent products in the coming months.  
1099 Reporting
Reminder: 1099 Reporting
Carrier's agent Forms 1099 will be mailed out by the end of January. Note that delivery by the U.S. Postal Service may take up to 14 days after mailing.
The IRS has a new Form 1099-NEC (nonemployee compensation) which will be used to report earnings, prizes/trips, and agent debt for 2020. Please consult your tax or legal advisor for any questions. MVP Financial and our representatives do not provide tax advice. 
Accelerated Underwriting
Tips for Working Virtually
Electronic Policy Delivery
Policy Reviews
Expand Your Business in 2021
It takes less effort to sell an existing client another solution that meets their needs than it did to make the initial sale. Policy reviews are a great way to start a conversation about needs that haven't been met yet.
Open up the possibilities to assisting your clients with income protection, retirement savings and filling in the gap for health insurance with our Solution of the Month.
Professional Development
Free Professional Development
One of the hardest things to do is take time out of your business to work on your business. To make that easier, here are some replays from OneAmerica's Leading Tomorrow Series that you can watch on your own time:
This Information is for Advisors Only. Not for Consumer Distribution. 
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