Advisors Blog

AU+ is AIG's streamlined underwriting process that’s available for issue ages up to 59, risk classes from Standard to Preferred Plus, and face amounts up to and including $2 million!

AIG has increased the street level commission on the 10-Year Select-a-Term! To confirm your commission schedule please log into Connext and find your schedule, under Contracting & Commissions, and Agent Lookup. Also effective May 23, 2022 there will be premium rate changes in all states except New York, where rates will remain the same.

Performing periodic life insurance reviews is a sound practice, ensuring that their clients’ life insurance portfolios continue to meet their evolving needs, while keeping pace with ever-changing market conditions. Policy Reviews analyze changes in insurance carrier ratings, structure, portfolio management and overall policy performance. 

As more and more employees leave their jobs voluntarily, how will your business owner clients attract and retain the right talent? Businesses are already offering key employee benefits at record levels and more than half of those businesses want to offer more benefits! But what do they want? What do they need? To get a better perspective, Principal asked more than 1,000 business owners about their priorities as well as the importance of benefits for their key employees.

Equitable is making the following changes to their Term Series 160. Effective May 2, 2022, the following changes will apply to Level Term 10, 15, 20 and ART: The minimum face amount will be raised to $1,000,000 except for applications signed in New York or Puerto Rico.

The option to opt-out of AIG's exam-free program Agile Underwriting+ is now available for IUL cases submitted via iGO full eApp. This option may be useful for clients who will likely require exams and labs.

Effective April 30, rates in WinFlex for the Income for Life Rider on QoL Max Accumulator+ II IUL policies will be updated to improve annuity factors and adjust the one-time activation charge for select ages. As a result, the guaranteed income from the rider will increase by an average 15% for issue age 35-55 if the rider is activated before age 80.

Many clients desire a life insurance policy which includes significant guarantees, however the cost to guarantee their death benefit to age 100 may be prohibitive. Advisors may be able to design a premium funding strategy which will guarantee the death benefit to age 90 (past life expectancy) with the option to extend the death benefit to age 100 at a higher premium if needed. This case study illustrates a scenario that provides permanent protection at the optimal cost.

Do you have clients with large loans on their existing life insurance policies? These policies could be drowning from high interest costs, leaving the client with an unexpected tax problem (and no insurance coverage). For clients with loans in danger of lapse, the mirrored loans strategy could help.

Cincinnati Life recently completed an assessment of the medical requirements that apply to all fully underwritten products. As a result, they have updated their guidelines for the medical examinations required for life insurance applications.