Important Announcement AnnuiCare and FlexPlus products will no longer be available for new sales in 2024. At Guaranty Income Life (GILICO), we pride ourselves on offering you simple and competitive solutions to meet your clients’ needs. That’s the spirit that brought AnnuiCare to the market in 1999 as one of the industry’s first Long-Term Care hybrid annuity products. But AnnuiCare and FlexPlus products were not built to adjust for today’s technological advancements. We are proud of these products and the clients they have served. We will continue to service existing policies, but have removed product materials and app kits
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GILICO: Mid-March Rate Updates
With treasuries and interest rates trending downward following recent banking industry events and related market impacts, it is prudent for Guaranty Income to make appropriate rate adjustments consistent with lower market interest rates. As always, we remain focused on delivering competitive and sustainable products over the long term. Applications must be received no later than 3 p.m. Central Time on Friday, March 17 to hold the higher rate, and monies/transfers/exchanges must be received within 45 calendar days. > Mid-March Rates #goldencareagent #gilico
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Don’t Miss this Important Portal News
New Advisor Portal is Coming Soon! Guaranty Income Life (GILICO) is preparing to roll out new advisor and policyholder portals in the coming weeks. With this enhancement, you will only need to sign on to a single portal to gain access to both presales tools and your clients’ policy information. This new advisor portal will provide access to: Our FireLight eApp tool, if your IMO does not already have an instance of FireLight. A link to client policy information from the advisor landing page. No need to go to a second login page. Access to presales materials and illustration
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November is LTC Insurance Awareness Month
LTC coverage does more than pay for care Having LTC insurance means your clients needn’t deplete their savings to pay for care. Coverage helps clients: Maintain independence Relieve financial pressure Protect retirement assets Decide how and where to receive care Guaranty Income’s AnnuiCare may provide 3x the annuity value for LTC expenses, if and when needed. As the annuity grows, so does the potential LTC benefit! > Get the Details on AnnuiCare Call the GILICO sales team at 800-535-8110 for assistance. #goldencareagent #gilico
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GILICO Year-end information to note
Year-end Notes Processing Cut-off Dates For Distributions: To complete distributions by December 30, GILICO’s Topeka office must receive requests in good order by December 23. For incomplete requests (NIGO), or requests received after December 23, we will strive to complete by December 30, but cannot guarantee. For New Business: GILICO’s Topeka office must receive new business requirements in good order by December 23 for contracts to be issued by December 27. This includes: Complete deferred annuity applications, including premium and without additional requirements. RMDs to be processed in 2021 must be taken before the funds are transferred. NIGO items
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Adjustment to charge back of commission in months 7-12
Schedule Adjustments on charge back of commission Effective 12-1-2021, GLICO is making an adjustment to its commission schedules as they pertain to the charge back of commission in months 7-12. 100% of commission will be charged back should a surrender happen within six (6) months of date of issue and 50% for surrenders within 7-12 months of issue. This is not a change to the commission rate, only the charge back in months 7-12. This change will affect all annuity products and year durations. It will be effective on all policies that fund after 1-1-2022. Questions? Call GILICO’s Agent
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A Word from Joe Wieser, President and CEO of GILICO
MAY 2021 GUARANTY NEWS A Word from Joe Wieser, President and CEO of GILICO As a child growing up in Denver, CO, activities seemed endless. Summer vacation included a family trip spent in the Rocky Mountains each year. Days were filled with hiking, biking, fishing and swimming in hot spring pools. I quickly learned the amazing rock formations and composition of the various 14,000+ peaks sprinkled throughout the Colorado Rockies. To this day, I can easily identify and name the mountain peaks standing anywhere along the front range. Those inspiring and powerful rock formations continue to stand the test of
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Best Interest Suitability and CE Update
Best Interest Suitability and CE Update Best Interest (BI) Annuity Suitability regulations model has been adopted by the NAIC. Guaranty Income requires agents to complete suitability appropriate to the model reg. The Annuity Suitability Profile and Producer Relationship Disclosure forms are required with each new annuity application. We encourage you to use the online App Builder to ensure that the correct forms are being used for each solicitation. Additional Annuity continuing education requirements are being implemented as each state adopts the BI reg. Agents who have already completed the standard annuity suitability course must complete a one-hour Annuity BI
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AnnuiCare Illustration Software
IMPORTANT Note to AnnuiCare Illustration Program Users Please discontinue using the desktop software for AnnuiCare illustrations. The AnnuiCare illustration tool that launched in December should be used to create all AnnuiCare illustrations moving forward. This web-based program is user-friendly and can be accessed on our Pre-Sales site and is also included below. New AnnuiCare Illustration Tool #goldencareagent #gilico
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Don’t miss exciting news at Guaranty Income
Good News for a Growing Company An Upgrade in Financial Rating, a New Hire and a Birthday all in the Start of 2021. WE UPGRADED TO AN A Guaranty Income Life Insurance Company, a Kuvare life and annuity business based in Baton Rouge, Louisiana, received a financial strength rating of A (upgraded from A-) by KBRA. Joe Wieser, President of GILICO, commented, “This upgrade is a testament to GILICO’s financial strength, operating performance, and growing stature within the US annuity marketplace. We are proud of our outstanding results and long-term focus to deliver on the promises made to our
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