July 15, 2016   
 

This week in OnTarget

  
Orange Bullet Very competitive National Guardian Life product   
Orange Bullet Preferred rates for diabetic clients now available 
Orange Bullet Your life doesn't stand still, neither should your coverage 
Orange Bullet Potentially positive side effect of BREXIT  
Orange Bullet It's Hard to Sell without a Story  
Thank you for being part of the Target family. Our goal is to keep you informed and to provide you with tools to help you grow your business.

This newsletter is filled with exciting news from multiple carriers!

For your convenience, this Staff Directory contains direct phone numbers and e-mail links to our team members.

Thank you for choosing Target.

Matt McAvoy, CLU, ChFC, MSFS
President 

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Your new #1 LTCi Product

National Guardian Life (NGL) is A.M. Best A- Rated
 
Its most exciting features are:
  • The only endless ("lifetime") benefit period in a stand-alone LTCi policy. Many people want to protect against a catastrophic loss. It costs 2x the price for 3-year BP.
  • Great §1035 exchange opportunities: the only single premium available in a stand-alone LTCi policy plus return of premium upon death (net of claims or full) and CV grading up to 80% (with either type of ROP)
  • Easiest way to show your client combo vs. stand-alone on the SAME chassis
  • Easy to get to the app stage because a client who is wavering between combo and non-combo can apply, then toggle between the coverages during the delivery period.
  • Attractive 3rd-pool Shared Care; lowest-cost 10-year-pay and 5% compounding; multi-life discounts; step-rated CBI; husbands can be added for free if younger than the wife, etc.
  • People who are sure they will get care in a facility can reduce their cost by about 15%.
For the most common UW class, NGL's premiums range from 10% to 44% lower than competitors, partly because the premium stays the same after one spouse dies, age is determined by the nearest birthday rather than the previous birthday, renewal compensation is lower than for other insurers, there is no monthly determination, etc.
 
Ask us for quotes now!  Starting Monday, it is available in AK, AL, AR, CO, IA, ID, IL, KS, LA, MD, MI, MN, MO, MS, NC, NE, NM, NV, OK, OH, PA*, RI, SC, TN, UT, WA*, WV, and WY.  *PA & WA require prior appointment before soliciting.
 
For those of you seeking more information, click the links below for materials.   
  1. Agent Guide: Includes 1-page product summary, NB processes, §1035 rules; getting appointed; multi-life rules, etc.
  2. Product Implementation Guide: Includes competitor matrix (selected info from our Broker World Survey); comparison to MoneyGuard; info about premium stability
  3. Sales Guide: Includes more detailed product and sales info including matching features to client types; NB process; available marketing collateral
  4. Underwriting Guide: Detailed UW info
  5. Sample app and sample base policy (we have the riders also if you want to see them)
  6. EssentialLTC Approved Overview: slides from a PowerPoint: best map regarding product availability; list of features; competitive comparison
Put these Target training opportunities (taught by Claude Thau) on your calendar.  (To join the meeting, click the link below and call 712-432-0180, PW: 957803):
We'll put NGL into Target's LTCi Cost and Benefit Analyzer. Having an endless (lifetime) benefit period in states in which NGL is approved will make the Analyzer more effective. We also have a brand-new proprietary Range of Exposure tool close to completion.
 

Questions?  Contact:  
Amanda Williams (913-403-5820; AmandaW@targetins.com);
Amy Lozier (913-661-5137; AmyL@targetins.com );  
Claude Thau (913-403-5824; ClaudeT@targetins.com ) or  
Alison Campbell (913-403-5810; AlisonC@targetins.com ).
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Preferred Rates for Diabetic
Clients Now Possible
On Target Underwriting from the
Desk of Kevin Coughlin
 

One of our very good underwriting carriers is now offering the possibility of preferred approvals for very well controlled adult onset diabetics. This is a welcome change in underwriting philosophy as traditionally standard rates were the absolute best offer for diabetics.  

 

Here are the parameters for possible preferred consideration:  

- Adult Onset (Type 2) Diabetes only  

- Client must be age 60 or older  

- Excellent Diabetic control  

- Routine annual check ups  

- Must meet all other preferred parameters  

 

With adult diabetes being increasingly prevalent, you may have several clients that can fit in to these criteria. Products offered by this carrier are competitively priced term as well as permanent products. Additionally, Target offers competitive underwriting and products for all range of diabetics.  

 

If you have a diabetic client or any other underwriting challenge, please contact me today for a best case underwriting solution!  


Kevin Coughlin, FLMI  

Director of Underwriting

913-403-5829

KevinC@targetins.com

 

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Your Life Doesn't Stand Still
Neither should your coverage

Updating insurance is critical to ensure that your client's lives are in sync with their insurance.  An insurance review can be a quick discussion that uncovers many changes in their life, but we should initiate the conversation or most clients won't think to make updates. A few examples are listed below.
  • Your client might have the opportunity to get more coverage for the same or lower premium than initially purchased and it's likely their needs may have changed. Superior Advances in product pricing and built in benefits - example:  chronic illness riders.
  • Positive underwriting changes in medical and heredity knowledge could mean your clients are eligible who were not previously able to qualify for insurance.
  • Divorces or Deaths might have occurred.
  • Your clients' may have changed jobs and their coverage may need to be adjusted.

Use the Life Insurance Review Checklist for ideas on when to update coverage.

Questions? Contact:  
Heidi Welch   
Life Insurance Consultant  
913-403-5813
 
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Potentially Positive Side Effect of BREXIT for life and combo LTCi sales

A key result of BREXIT is that money is flowing to safety in the USA.  As many pundits are pointing out, that means that interest rates will continue to be low long-term.
 
We have combo products that are guaranteed, will soon have a single premium LTCi policy that is guaranteed and eligible for 1035's to or  existing fixed or variable annuities with imbedded gains are considering1035 exchanges to fixed annuity products with LTCi riders for income tax free benefits on eligible extended care claims.  Putting money into these products now can help protect clients using their safe and self insured funds.
 
It is time to propose and close such cases, using §1035 exchanges, lazy money invested in CDs or assets which can increase leverage in an extended period of long and low fixed interest rates.

Questions? Contact 
Claude Thau 
Director LTCi Funding Solutions 
913-403-5824 
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It's Hard to Sell without a Story
 
That's why Mutual of Omaha created the Marketing Concept Portfolio. This turnkey program includes educational tools and consumer materials to help you tell compelling stories your clients can relate to.

The Concept: Dovetail Short- and Long-Term DI  Many clients have long-term disability insurance through their employer, but would struggle to cover living expenses during their plan's three- to six-month or longer elimination period.

How it Works  Dovetailing disability insurance coverage protects your client during the elimination period of a long-term DI plan by adding short-term DI benefits. Choose short-term DI with a 14-day or shorter elimination period.

You can dovetail coverage when your client has long-term DI with another carrier. If your client has Mutual of Omaha long-term DI, you can still dovetail coverage using their Accident only DI.  
 

For more information on Disability Insurance contact:
George Wilkins
913-403-5827
GeorgeW@targetins.com

Target Insurance Services, Inc. | 11020 Oakmont | Overland Park KS 66210 www.targetins.com | 1-800-999-3026
 
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For more information about Target Education, contact:
Stephanie Gillespie at 913-403-5821 or StephanieG@targetins.com