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Our Administrative Assistant, Brooklyn, celebrates her July birthday! |
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Our National Sales Rep, Michael Huffman, CLTC, welcomes his first 2 grandchildren this month. His two sons each welcomed their first child (both boys). Congrats, Grandpa! |
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GPA Webinar:
Looking for a New Revenue Generating Stream, While Protecting Your Clients?
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Join GPAgency and Lincoln’s Mark Buehner, Sales VP – MoneyGuard, for an upcoming presentation on how to implement Long Term Care into your practice.
Wed., Aug. 4, 2021 @ 11:00 am – 11:45 am
3 Steps to implementing LTC: Featuring MoneyGuard
1. Learn how to bring up the LTC conversation in a product agnostic way (Asset Identifier)
2. Design a solution that is easy, repeatable, and meaningful to your clients (50/10 Strategy)
3. Find the potential clients to be targeted for LTC conversations (MoneyGuard Compass)”
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Check Out Our Policy Review Program |
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A number of state and federal regulations in recent years have brought an increased focus on carefully matching insurance policies with individual client needs, often referred to as “best interest” review. In-force policies may have been sold with fewer questions asked about client goals and resources, and these also may have shifted over time. In addition, older policies may have been designed and sold based on interest rate and expense assumptions that no longer hold true, putting the policies in danger of lapse or failing to meet client goals in the foreseeable future.
At the same time, a new generation of life insurance products continues to enter the marketplace with more robust features and benefits, along with competitive death benefit guarantee options. Just because a life insurance policy is “permanent” doesn’t mean the owner should set it and forget it!
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What does this mean for you?
It represents a great opportunity to visit with clients to evaluate their existing life insurance portfolio. If you don’t do it, someone else will!
We have a program to help you evaluate whether your clients’ policies are performing as they should. If they are not, we will help you identify solutions designed to improve the situation.
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Life Insurance Can Help Ensure Clients' Loved Ones Get the Care They Need |
When a child or other loved one has a permanent or long-term need for additional care and financial support, planning to meet those needs can be daunting. Fortunately, life insurance provides a very efficient way to fund these needs after the primary caretaker or provider is gone.
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Have a client who could use help with special needs planning? We can provide resources, education, and referrals to help you captain a team of professionals to support your client and their loved ones.
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Reminder: Principal & PennMutual Changes |
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Principal will discontinue sales of all U.S. retail fixed annuities and products and consumer life insurance by the end of the third quarter 2021. However, they will continue to offer life insurance to the business market, particularly small to medium-sized businesses. NOTE: The last day for Personal Life & Annuity application submissions is 09/30/21.
Gpagency will continue to have access to their business life and their income protection (DI) products.
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Penn Mutual suspended life sales through brokerages through the end of the year.
GPAgency will continue to have access to their fixed annuities.
We work with leading and top-rated life insurance carriers and have many options for competitive product solutions to meet your clients’ needs. We are happy to work with you on alternative solutions to the Principal and Penn Mutual product portfolios.
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Legal & General: They have reinstituted their pre-COVID underwriting guidelines for all ages. If you had a case that was postponed due to their COVID Temporary Underwriting Guidelines, you can now submit it for reconsideration.
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Prudential: Prudential is now requiring PruFast Track-eligible cases to be submitted via Prudential Xpress QuickForm worksheet or Drop Ticket.
There will be a transition period from 7/19 until 9/1, where they will accept paper applications for cases that meet the new PruFast Track criteria. However, Prudential will not accept orders for PRU to pay for or reimburse for exams on cases that meet the PruFast Track criteria when a paper application is submitted.
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Boston Mutual: They will be repricing their individual life products for policies with an issue date of January 1, 2022, or later.
The rate change is due to a decrease in the maximum statutory valuation interest rate for life insurance from 3.50% to 3.00% which, in turn, triggered a decrease in the maximum nonforfeiture interest rate from 4.50% to 3.75%.
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Equitable: Any level term or ART case with a face amount of $1M and below in which the insured is age 18-60 will be required to use the Equitable Life eApp and must submit the Medical Information Questionnaire (MIQ). Get the details.
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Principal: Effective immediately, the Know Your Customer Questionnaire is no longer required when an organization/entity will only be paying the premiums, but is still required if the organization/entity will be the policy owner of a new individual disability insurance and life insurance policy. Additionally, the questionnaire has been updated.
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AIG: As agent-client interactions begin to return to normal, starting July 19, AIG Annuities will resume mailing all contracts within the IMO / BGA channel to agents for delivery to clients. Read the bulletin
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Prudential Webinar:
The Women’s Market and Your Business
Did you know that women control $10.9 trillion, or 31%, of the country’s investable assets?1 Don’t miss guest speaker Ann M. Hughes, founder and President of The Female Affect, as she presents a new twist to traditional women-and-investing presentations. She will help you tap into the women’s market to build relationships, deepen conversations, and create loyalty.
1Source: McKinsey, “Women as the next wave of growth in US wealth management,” July 2020.
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Thursday, August 12 @ 2:00 p.m. ET.
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Our Current Annuity Rates |
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Securian
Six Opportunities for Improved Underwriting Decisions
Their mortality credits program offers clients better-than-published underwriting decisions
— in six key areas:
- Build
- Tobacco
- Non-combustible tobacco
- Driving history
- Cholesterol
- Family history impact
Their mortality credits guidelines give your clients the best opportunity for competitive underwriting decisions!
Applicants ages 16-74 now qualify for build credits. Credits can result in a full-rate class upgrade. Use of medication to control other risk factors doesn’t eliminate applicants from qualifying. They also consider rate-class upgrades for applicants whose build is standard or better.
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Securian has a comprehensive library of marketing and educational resources for your business clients. CLICK HERE
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MassMutual
Types of annuities and how they work
Annuities can be a useful wealth management tool but they come in many varieties with different benefits. READ ARTICLE
Participating whole life insurance from MassMutual® offers a combination of features and benefits that differentiates it from most other financial products.
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Principal
Do you know business owners?
Help Businesses Plan for the Future with a Complimentary Informal Business Valuation
Many small business owners need help determining what their business is worth. According to a 2021 Principal Business Owner Survey, conducted by Dynata:
- 37% of owners still don’t have a business succession plan for death, disability, or retirement.
- 52% of owners have never had their business valued.
Their Individual Disability Insurance Solutions:
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Get Paid Faster...
ADVANCE COMP!
Still Available!!
GPAgency's Advance Compensation program is for NEW Term and UL policies sold through Protective AND Legal & General.
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Get Your Own Unique URL
Competitively-Priced Term Life Insurance in Less than 9 Minutes!
10, 15, 20, 25 & 30-year term life coverage: $50K to $1.5M.
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American National's
Life Cash Bonus
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