Transamerica has determined payroll allotment will no longer be an option for Final Expense products due to market conditions, effective April 16, 2018. The Underwriting and New Business departments have deemed Final Expense products will no longer accept payroll allotment as a form of payment. Impacted products include: Immediate Solution (WL08) 10-Pay Solution (WL08) Easy Solution (WL09) Guaranteed Whole Life (GWL) Guaranteed Whole Life Final Expense (GWLFE) This includes payroll deductions, list bill, government allotments, and military allotments for Final Expense products. Policies in force with payroll deduction or list bill active will continue to collect premiums in that manner.
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New Vantage Now Available in OH – Effective 4/9/18
As of April 9, 2018, Sentinel Security Life is now offering New Vantage in Ohio! Click on the link below to download the application packet. You can also visit our Agent Portal to access any of the product forms and the Life & Health Premium Calculator. New Vantage Application Packet – OH Applications can be submitted either via a paper app or electronic application. #goldencareagent #sentinel
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Important Reminder: Guaranteed Life Product Changes 4/13/18
Gerber Life Insurance Product Announcement Important changes to Gerber Life’s Guaranteed Life Insurance Plan went into effect December 7, 2017. These product changes include: Updated applications and marketing material New premiums As a reminder, paper applications that do not contain the 1117 revision date, must be signed and received in the home office before April 13, 2018 to obtain the old rates. Any outdated applications and/or incorrect premiums received after April 13, 2018 will be returned to the Agent. The Agent will be required to resubmit the business on the new application with the correct premium. Marketing Material:
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Virginia Approves CWL Product Modifications
Effective April 9, 2018, the new Children’s Whole Life product modifications are available for your clients in Virginia. The CWL product modifications are now available in all states, except Washington. Children’s Whole Life Product Enhancements Increased maximum face amount Old Maximum Face Amount – $30,000 NEW Maximum Face Amount – $50,000 Improved Guaranteed Insurability Rider Old rider triggers for additional coverage – Can add additional coverage at ages 30, 33, 36 and 39 If the election is not made on the first option date, the rider is discontinued NEW rider triggers for additional coverage – Ages 25, 30, 35 and
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The Best of Wealth + Health at Your Fingertips
At Transamerica, our commitment to service doesn’t end with just one conversation. We’re dedicated to bringing you the tools and resources to help your clients live better today and worry less about tomorrow. In this final edition of Changing the Conversation you’ll find: A link to the Wealth + Health sales toolkit website Our financial professional-facing website, New Age of Advice, for continued business-building A must-read article about remembering to take care of yourself along with your clients As you engage with clients, remember that wealth + health comes down to balance. After all, what good is one without the
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Accelerated Underwriting for TLA is Here!
Our brand new Accelerated Underwriting program uses data that can quickly be obtained to eliminate lab testing and exams for Standard, Standard Plus, Preferred and Preferred Plus applicants who qualify based on age, personal history, and face amount requirements. The Process is Easy: Submit a Speed eTicket (Drop Ticket) for Term Life Answers® ExamOne completes a phone interview with your client and obtains a voice signature or eSignature Once we have the full application in-house, we take care of the rest Basic Qualification Requirements: Products Available: Term Life Answers® (10, 15, 20 and 30 year) Application: Speed eTicket (Drop Ticket)
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Now Available: New Underwriting Guide
A new April 2018 version of the United of Omaha Life Underwriting Guidelines booklet is now available. The April 2018 version has been updated with the new Senior Assessment underwriting requirement that was announced recently. As a reminder, the new Senior Assessment requirement, which will assess a client’s cognitive ability, memory functions, mobility testing and ability to perform Activities of Daily Living, is required beginning April 1, 2018 for: Ages: 66 and over Face Amounts: $500,000 and over Products: All fully underwritten life products (IUL, GUL, AccumUL, TLA) The new underwriting guide can be ordered through your normal ordering channels,
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Anti-Money Laundering (AML) Refresher Training
As REQUIRED by federal regulation, all producers writing permanent life or annuity products are required to complete Anti-Money Laundering (AML) training on an on-going basis. All producers who completed a LIMRA Anti-Money Laundering training course prior to January 1, 2018 are required to complete the 2018 AML renewal training “The Importance of Knowing Your Customer – AML for Insurance Review”. Mutual of Omaha has contracted with LIMRA to provide anti-money laundering training at no cost to you. The renewal course will automatically be assigned through LIMRA and will take approximately 30 minutes to complete. Training must be completed by June
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Important Reminder Regarding Gerber Life’s Guaranteed Life Product Changes
Gerber Life Insurance Product Announcement Important changes to Gerber Life’s Guaranteed Life Insurance Plan went into effect December 7, 2017. These product changes include: Updated applications and marketing material New premiums As a reminder, paper applications that do not contain the 1117 revision date, must be signed and received in the home office before April 13, 2018 to obtain the old rates. Any outdated applications and/or incorrect premiums received after April 13, 2018 will be returned to the Agent. The Agent will be required to resubmit the business on the new application with the correct premium. Marketing Material:
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Reminder: Use Latest Revision of IRS Form 4506T-EZ (Rev. 7-2017)
Form 4506T-EZ is an Internal Revenue Service (IRS) document that is used to retrieve past tax transcripts on file with the IRS. The form allows the individual to send the tax transcripts to a third party, such as Transamerica. Recently, the IRS updated Form 4506T-EZ. Before completing the form, ensure you are using the correct version by checking the lower right corner. The latest version of the form is “Form 4506T-EZ (Rev. 7-2017).” The IRS will not accept any prior versions of the form. As a reminder, Form 4506T-EZ is required for all Transamerica life products that have face amounts
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