“Upscale Planning: Leveraging Social Security benefits with life insurance,” by Russell E. Towers, Advisor Magazine

“Your clients can simply place their unneeded after-tax Social Security into low yielding money market accounts, bank CDs, bond mutual funds, or U.S. government securities. And the low historical yields on these fixed assets are taxable as well. Or they can allocate their after-tax Social Security benefits into an annual premium for a no-lapse UL or SUL policy where the death benefit for their heirs is income tax free and the Internal Rate of Return (IRR) at life expectancy is substantially greater than current fixed financial asset yields. A Long Term Care rider on the life insurance policy can offer
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Categories: Industry News, Life Insurance, and Long-Term Care.

Transamerica: Adjustments Made to Military Sales Practice Disclosure

Sales & Marketing Special Update Adjustments Made to Military Sales Practice Disclosure Effective April 22, 2016, the following Military Disclosure form will be updated in all states and will be made available on all essential websites. With this change, a new form will replace the previous disclosure forms as listed below: Old Disclosure Form New Disclosure Form Effective 4/22/2016 DISMSP0612 DIS11541008T MIL-129 U00265 DISMSP0515   The iGO e-App will show the new disclosure form on April 23, 2016. Transition Rules There will be a 30-day transition period. The old forms will be accepted by new business, if received prior to
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Categories: Industry News, Life Insurance, and Transamerica.

Policy Conservation Email Enhancements

New Policy Conservation Event Emails Available On April 19, 2016, you will be receiving enhanced email notifications for your customers that are in a policy conservation opportunity, for example, their policy is in danger of lapsing. You should already be receiving policy conservation notifications, but this enhancement will give you more information at your fingertips without having to log into SPA to view the report. What’s new? The email will contain the Client policy number, Policy Description (Long-Term Care, Life, etc.), Client Name, Client Phone and the reason for the danger of policy lapse. What you need to do: Please
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Categories: Life Insurance, Long-Term Care, and Mutual of Omaha (& Affiliates).

Have You Tried the IUL Look-Back Calculator?

When your clients are purchasing the new Income Advantage IUL, their policy will build cash value based on the performance of the S&P 500. Our new Indexed Universal Life Calculator provides clients with information that can help them assess the indexed interest rate potential for an allocation of each of the S&P 500 crediting options. The report includes: How often the indexed interest would have been less than or equal to the annual floor, greater than or equal to 3 percent, greater than or equal to a sample rate, and greater than or equal to the cap rate based on
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Categories: Life Insurance and Mutual of Omaha (& Affiliates).

Beneficiaries in South Carolina

On January 1, 2014, Act 100 became effective in South Carolina. It provides that in the event of a divorce or annulment, a former spouse, who was earlier listed as the beneficiary to a life insurance policy, would not receive the proceeds of the policy, unless the life insurance policy, a court order, or a marital settlement contract expressly provides for the former spouse to continue as the beneficiary. This provision was enacted as 2013 S.C. Act No. 100. To view the law please use internet address www.scstatehouse.gov/code/t62c002.php to view Section 62-2-507 of the South Carolina Code. Beneficiaries in South
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Categories: Life Insurance.

WinFlex Remains Available for Conversion Illustrations

Use WinFlex to Produce Your Conversion Illustrations WinFlex remains available for Genworth’s conversion products Life Ready℠ UL II Conversion and Life Ready℠ UL II NY Conversion, giving you and your agents a convenient and timely way to run your conversion illustrations. If you or your producers do not currently have access to WinFlex Web, this Bulletin provides some helpful information for gaining access. How to obtain access to WinFlex Web? Register at www.winflexweb.com. Click the “Register Now” link on the left hand navigation bar under New Visitor. Note: Step 2 of the registration process asks the user to select his
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Categories: Genworth and Life Insurance.

Reminder of Rate Change for Guaranteed Issue Whole Life Policy

As a reminder, to further our goal of a strong Guaranteed Issue Whole Life product portfolio over the long term, we have decided to revise our premiums.  The new premium rates go into effect on April 4, 2016. These changes are effective for applications written on or after April 4, 2016. Please make sure to use the new premium rates beginning April 4th. Please note that the rate change only affects new business; in force policies are not impacted. The new client brochures, which contain the new premium rates, are now available on the portal https://portal.reservenational.com/forms.aspx. Commission rates are not
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Categories: Kemper and Life Insurance.

Reward Clients with Fit Credits – Even on Term Insurance

Healthy Underwriting Credits Through Age 75 With United of Omaha, your clients can benefit from an underwriting credit program called Fit. With Fit, clients who have certain health conditions may be rewarded with medical and lifestyle credits, earning them a better rate class and lower premiums. How United of Omaha does it different: Unlike many competitor programs that only apply to permanent policies, the Fit program applies to term insurance. The Fit program also has more generous qualifying ages. While most competitor programs only give credits through age 65 or 70, Fit allows credits for clients up to age 75.
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Categories: Life Insurance and Mutual of Omaha (& Affiliates).

NEW Preferred Plus TLA Rates

Help your clients save more with our new, competitive Term Life Answers (TLA) rates, including Age Last Birthday. What You Need to Know: Effective Feburary 1, 2016 Term Life Answers (TLA) has competitive Preferred Plus, Preferred Nontobacco and Standard Nontobacco rates. All major quoting tools are ready to illustrate our new competitive pricing. Make sure your quoting software is updated so you can view the new rates. Our dedicated underwriting and new business teams are sufficiently staffed and ready to process your business. Here is Where We Win the Sale: Preferred Plus Risk Class Males and Females, ages 40 to
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Categories: Life Insurance and Mutual of Omaha (& Affiliates).

Genworth: A Message from Anthony Vossenberg

Today, Genworth shared some news in our earnings release about important changes we are making in our product portfolio that impact many of you and many of our employees. We intend to start reaching out to distribution partners as soon as possible, but we need to ask for your patience as our first priority is addressing the impact on our employees. You will receive a bulletin late tomorrow that provides more details and includes transition rules for new applications. In the meantime, you may direct consumers to a message from David O’Leary, U.S. Life Insurance President & CEO, that is
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Categories: Genworth and Life Insurance.