Are Your Clients Using Best Practices for Notice and Consent?

Weekly Advisor Newsletter

Recent Carrier & Product Updates

Life Insurance

12/01 Ameritas new Whole Life Product

11/22 Cincinnati Life Rate Updates

11/21 Banner New OPTerm Rates

11/15 OneAmerica Product Availability

11/13 Brighthouse Conversion WL

Annuities

12/01 3yr MYGA w/ 15% Day 1 Liquidity

12/01 Rates Rise on Athene Products

12/01 States May Strengthen Annuity Rules

11/31 North American Rates Decreasing

11/29 MYGA Versus Indexed Annuity

Your Practice - Notice & Consent

The COLI Best Practices Act imposes notice and consent requirements before a business purchases life insurance on an employee, owner, officer, or board member. Not following the rules means life insurance proceeds are income taxable to the business.

Use these simple prospecting questions to uncover opportunities to help CPA’s and business owners address and solve this critical and often overlooked issue. You can also download our 101(j) advisor kit.

This Week's Highlights

DOL Extends Transition Period for Fiduciary Rule Exemptions

The U.S. DOL has announced an 18-month extension from Jan. 1, 2018, to July 1, 2019, of the special Transition Period for the Fiduciary Rule’s Best Interest Contract Exemption and the Principal Transactions Exemption, and of the applicability of certain amendments to Prohibited Transaction Exemption 84-24 (PTEs) following public comment on a proposed extension published in August.

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MYGA Versus an Indexed Annuity

Since Great American announced their new Landmark 5 indexed annuity earlier this month, I’ve had several discussions with agents who tend to prefer MYGA contracts as CD alternatives. In those conversations I’ve gotten feedback that some clients make mention of either how well their investment accounts have done since Trump was elected OR clients have indicated that they might have “missed out” on an opportunity.

Solving Your Clients Complex Problems is a Call Away!

ASA has a dedicated, in-house Advanced Planning Attorney with over 25 years of experience to help you with your most complicated cases. We understand the unique challenges your clients face and our expertise in retirement planning, estate planning, business succession and much more means that there is no scenario too complicated and no case too large for you to take on.