E-Newsletter - February, 2015

What's new?

As an alternative to traditional LTC products, asset-based products as well as life insurance with LTC or Chronic Illness riders have become more prevalent. With all the new carriers and products entering the market, keeping product features and contract language straight can be a real challenge. Below is link to a matrix of carriers and products with available riders and the differences with each. Also attached is a presentation from Nationwide highlighting the difference between product types, as well as the difference between a qualified LTC rider(Section 7702B) and Chronic or Critical Illness Riders(Section 101-g). As you meet with your clients, consider exploring some of the products.

Cathy Barner and Nick Weiler in our office can help you wade through all the details and help you with planning strategies and product design.

LTC & Chronic Illness Rider Information

Life Insurance Riders & Tools presentation from Nationwide

Important Updates

American General has released:

The new Value+Index UL product that combines many of the advantages of guaranteed universal life insurance with special features and crediting strategie that help reduce costs and deliver maximum value. The chronic illness rider is also available. Click here for more details.
New term rates effective February 9th. Mostly standard rates went down about, by up to 25%. Some rates went up, approximately 5%. New rates will be issued automatically between Feb 9 - March 23 unless old premiums are specifically requested.

Nationwide just announced an upcoming re-price of the YourLife No Lapse GUL product. They expect price increases of 3-10%. Applications must be received by April 13th.

Protective wants to pay you an extra $25 for placing a life application. Applications must be submitted after 1/15/15 and placed by 3/31/15. Click here for details.

John Hancock

Released this helpful 2015 Fingertip Tax Guide.
Click here for a number a very useful online planning tools that they also offer.
Is reducing term premiums in the top 3 underwriting classes, especially for males 45-65. Get details here .

Transamerica

Suspended all new sales of "TransAce" and "TranAce Survivor" products effective February 4th. The "TransAceCV" product is still available for conversions only. Click here for details.
Repricing term rates effective February 14th. Applications received prior to February 13th receive old rates. Applications received between February 14th and March 20th receive the most favorable rates. Applications after March 20th receive new rates.