Closed Good Friday
In observance of Good Friday, our office will be closed Friday, April 2nd, 2021.
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Current Annuity Rates at the bottom of this email. |
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Dan Shanahan, Career & Securities Manager / Angela Mcilvain, GPA partner / Chris Carrigan, GPA partner |
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GPAgency is keeping it green!
Life | DI | LTC | Annuity
> Top commissions
> 50+ carriers
> Concierge service
> All the right tools
> 50+ years strong!
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What Does Getting a Covid-19 Vaccine Have to Do with Life Insurance?
NOTHING. Misinformation has been shared online that receiving a Covid-19 vaccination may prevent you from receiving life insurance coverage on the basis that the vaccine is “experimental.” Receiving a Covid-19 vaccine will have no effect on your ability to obtain coverage or benefits from life insurance. The vaccines being used have already earned emergency use authorization (EUA) from the FDA.
If your clients need additional assurance, we suggest they contact their insurance company directly and ask if getting the vaccine will affect their life insurance coverage in any way.
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Recent statement by John Hancock on this issue: "Our underwriting assessment of an applicant’s insurability is not impacted by the vaccination status of the individual...Further, John Hancock life insurance policies do not contain exclusions related to any specific medical condition, pandemic, or vaccine, and all claims continue to be processed according to John Hancock’s well-established guidelines and practices.
Prudential weighs in on the issue -- click HERE to view.
Nationwide's COVID19 update --click HERE to view.
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USPS Mail Delays – Billing and Payments
USPS mail delivery has been slower than usual due to the pandemic and inclement weather, impacting outbound mail to clients (i.e. premium notices) and inbound mail (i.e. payments) to the insurance companies.
Most companies are making exceptions: extending their grace period without penalty, sending out invoices earlier, verifying postmark dates, etc. We suggest you make your clients aware of these delays. Encourage them to review their payment history, visit the insurance company website for their policy regarding mail delays, contact the insurance company's customer service if a deadline is approaching, or pay their premium online.
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GPA & Prudential Free CE Program
Business Continuation
Date: Tuesday, April 20, 2021
Time: 11:00 am to Noon, ET
Credit: 1 Insurance CE credit (no charge). MRU#: 1010761-00003-00. State(s) excluded: MA
Location: Webinar program
Hosted by: Tim Eades, Prudential RVP
Presented by: Chuck Perrault, Prudential Advanced Markets
This session will provide you with an opportunity to earn one state CE credit.
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GPA & Cincinnati Life Workshop
Cincinnati Life’s Worksite Insurance
& Sales Opportunities
- Best practices in marketing voluntary life products
- Strategic partnerships to enhance sales
- Valuable tips for successful enrollments
Date: Tuesday, April 27th
Time: 11:30 am to 12:30 pm, ET
Presenter: Christy Sandlin, Life Field Director, The Cincinnati Life Insurance Company
Location: GPAgency training room (12 maximum) AND online (a link will be provided upon registration)
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Super fast. Low touch. Insanely convenient. Term Life. What’s not to like about 'BESTOW'?
Introducing BESTOW, a Quick Issue 10, 15, 20, 25 & 30-year term life: $50K to $1.5M.* From application to coverage in as little as 9 minutes!
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Get your own unique URL: place on your website; email/text prospects
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100% online, quick, easy app, accessible 24-7: View Demo
- No medical exams, no case management
- Competitive, fully underwritten pricing; accept/reject with six rate classes
- Doesn’t report declines to MIB, only medical conditions and other information
- Pay with credit card
- Commissions based on total premium
- Bestow policies are provided by North American Company for Life and Health Insurance®, an insurance carrier rated A+ (Superior) by A.M. Best.
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Get Paid Faster...
ADVANCE COMP!
GPAgency's Advance Compensation program is for NEW Term and UL policies sold through Protective AND Legal & General.
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National Guardian Life (NGL) has enhanced features of its EssentialLTC product in 38 states, effective April 1, 2021. Applications written in the IMPACTED STATES must be dated and received in good order by the NGL long-term care (LTC) administrative office on or before March 31, 2021, to be eligible for current rates.
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North American: Navigating the current economic environment with a long-term focus in mind, North American will be adjusting their minimum face amount requirements on universal life (UL) and indexed universal life (IUL) insurance products with applications signed April 24, 2021 or after. Read More
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AIG: Launches a NEW Lifetime Income Choice guaranteed living benefit rider in the Power 7 Protector Plus Income® and Power 10 Protector Plus Income Index Annuities. View Consumer Brochure
Rider change effective 03/22/2021, American Pathway® fixed annuities issued by American General Life Insurance Company (AGL) will no longer offer the Activities of Daily Living rider and will update additional rider language. Read more about the changes.
AIG doubled up on its non-medical underwriting offering and expanded it on its protection-focused IUL and doubled the face amount from up to $500,000 to $1 million.
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Sagicor recently updated its Sage Indexed Universal Life Insurance (3/27/21) -- NEW:
- Improved income distributions
- Reduced COIs, premium loads, and expense charges
- Preferred plus non-tobacco and tobacco underwriting classifications added
- Credited Interest Rate Bonus (Persistency Bonus) increased to 0.75% (previously 0.5%)
- Ability to easily run illustrations on WinFlex Web
- Illustrations updated to reflect updated maximum non-MEC calculations based on new 7702 cash value and guideline premium test provision
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American National: Annuity State Suitability Training: In addition to American National’s required training, many states require additional continuing education (CE) annuity certification training to comply with the NAIC Model or the Revised NAIC Model. The states that have adopted the 2010 NAIC Suitability in Annuity Transactions Model Regulation require producers to complete an approved four-hour annuity training course (CE) as part of the licensing requirement for the state. ► Current list of states that have adopted the revised model
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Transamerica: Discontinues standalone long-term care (LTC) business effective March 31, 2021. Applications under approved MultiLife cases (worksite and association) will end June 30, 2021. LTC riders on life insurance policies are not affected. The only impacted products are TransCare® II and TransCare® III. Clients with existing policies are not impacted. Read More Here
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John Hancock: Beginning May 2, 2021, every producer's anti-money laundering (AML) course-completion date on file at John Hancock must be on or after January 1, 2020, and prior to the signing date of a new business application. How to get training? Check here to see how easy it is to get AML training — with the option to have it paid for by John Hancock.
Important reminder for producers selling the JH LTC rider: Most states have adopted the training requirements outlined in the Deficit Reduction Act of 2006 and the NAIC Long-Term Care Model Act. These require producers selling LTC products, including LTC riders, to take an initial 8-hour NAIC Partnership training course, followed by a 4-hour refresher course every two years. All courses must be approved by ClearCert in order to be accepted as valid training. To determine if a course is approved, please visit ClearCert.com/search-courses.
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Principal, like many financial institutions, is required by federal law to “know their customer” by obtaining and maintaining information about the identity of those who open or hold an account with them. Beginning April 1, 2021, the Know Your Customer Questionnaire will be required with all new applications for disability insurance or life insurance, where an organization/entity will be either the owner or paying the premiums. For life insurance applications where the owner will be a trust, a new Trust Certification and Indemnification form should be used instead of the Know Your Customer Questionnaire.
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PennMutual
Pre-Masters Warm-Up
Date: Thursday, April 1, 2021
Time: 10:30 a.m. ET
This event features Trent Lucas, Founder of Legacy Financial Advisors, and PGA golf pro Steve Flesch!
• A discussion on the benefits of doing business with Penn Mutual, in addition to how Penn Mutual has been incorporated into Legacy Financial Advisor's practice
• The entire Masters Tournament experience, including what it takes to get into the event as well as the things you don't see on TV
• What it's like to be inside the ropes at Augusta and in contention on Sunday
Trent and Steve will also be answering questions from attendees, so be sure to submit a question when registering.
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Illinois Mutual
The Power of Principal
Date: Wednesday, April 7, 2021
Time: 11 am to 12 pm, ET (U.S. and Canada)
- An update on the integration of Wells Fargo Institutional Retirement & Trust (IRT) to Principal
- New and updated solutions for 2021
- A demonstration of their award-winning website and other technology advancements
- A brief policy and legislative update
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Sagicor
Part 1: Sagicor’s 5-Part IUL Web Series
Date: Tuesday, April 6, 2021
Time: 1:00 pm, ET | 10:00 a.m., PT
Part 1 of Sagicor’s 5-Part IUL Training Webinar Series
If you work with affluent clients, successful business owners or upwardly mobile individuals, you’ll learn ways to position IUL:
- How to start the tax deferral, legacy and chronic illness planning conversations with clients — all while social distancing!
- Why diversification of assets and interest crediting is important
- How to run IUL illustrations to successfully meet client goals — and it’s not always to maximize income
- How 7702 regulation changes positively impacted IUL
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Why IRR is important in IUL illustrations
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AIG
Spring Webinars
Client Connections | Solutions for Retirement | Longevity - Plan for 100
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AIG
Change Your Client Conversations
The Alliance for Lifetime Income financial glossary can help you simplify financial planning language for better client understanding. Download the glossary.
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John Hancock
Fact-Finding Tools
Fact finders to help in collecting some of the upfront information needed to truly tailor a plan:
Tip: For those clients who are just getting started, use the Estate Planning and Business Planning fact finders; if you have already had those initial discussions and want to dive deeper into a particular solution, use the other available fact finders to help gather the information necessary to take your case planning to the next level.
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Boston Mutual
Newly Revised Producer Product Brochures
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Securian
5 Opportunities for Improved Underwriting Classes
Through its ongoing research and development, Securian Financial can provide better-than-published decisions for many of your clients. With its mortality credits program, your clients may be eligible for improved underwriting classes in these five categories:
- Build
- Tobacco and non-combustible tobacco
- Driving history
- Cholesterol
- Family history impact
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Guardian
Fund College Dreams Through Whole Life Insurance
In March, colleges and universities all around the country will begin sending acceptance letters to hopeful high school seniors. That means ‘decision season’ will be nearing full swing over the coming weeks, as well as the discussions on financing the big decision. College costs continue to grow at a significant rate, so no matter the college savings strategy - whole life insurance can be a useful supplement to consider. Can there be too many ways to pay for college? In today’s world, it’s unlikely.
Use this updated College Savings with Whole Life flyer (Pub4941FLY) to educate clients and prospects on how to get more out of their whole life insurance policies - even making college dreams come true.
Additional college savings resources available include:
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Pacific Life
Art of Writing a Good Cover Letter for Underwriting
Although it isn't always necessary, a cover letter can preemptively address questions from underwriters. When done properly, a cover letter can be an effective way to secure the best life insurance rates for your clients.
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2021 Tax Planning
Mutual of Omaha:
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Roll it out of the garage!
Your client may not be the latest greatest model, but, with access to 50+ carriers, we can often find a “buyer.” We specialize in impaired risks. Review your declines over the past year, maybe we can help.
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View previous digital updates
Go to the bottom right of our home page (www.gpagency.com) for previous issues of our digital updates.
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