Advisors Blog

GBS can now offer Pacific Life’s very competitive Promise Term and Promise GUL plans as well as their fluidless underwriting program.

While admitted marijuana usage appears to be increasing among insurance buyers, underwriting those risks is becoming more complex. Currently, more than half of U.S. states allow medicinal or recreational use of marijuana and that number is expected to continue growing. With the ability to legally purchase marijuana in most states, many insurance carriers are responding with more liberal underwriting rules.

Planning for the unexpected and the work you do with the protection products you help put in front of clients has never been more important. For us, continuing to provide helpful content was just a small part of the service we hope we delivered to you. Although we are anxiously looking forward to 2021 and everything we have planned to help you make it your best year yet, we like to take time to reflect on how we did and look back at what content resonated most with you. To that end, we’ve compiled a list of some of our most popular and interesting blog posts of 2020.

In response to the continued low interest rate environment, effective February 22, 2021, Prudential will increase their rates for Term Essential and Term Elite for all durations.

Here are six sales ideas to help you kick off 2021 to a great start!

Due to the continued low interest rate environment and stricter reserve requirements for the insurance industry, Guaranteed Universal Life (GUL) products are becoming more difficult for carriers to offer. Prices continue to go up and many carriers are simply suspending sales of their GUL products entirely - we expect more to do so in the next few months. 

Due to the continued low interest rate environment, Principal Financial is withdrawing their two guaranteed UL products: Universal Life Protector V and the Survivorship Universal Protector III, effective immediately.

Due to the continued and prolonged low interest rate environment and competitive landscape, Symetra has decided to discontinue sales of their guaranteed universal life insurance products, which include their currently sold Symetra UL-G and the previously suspended Symetra Survivorship UL-G.

Did you know employer-sponsored group term life goes up in premium every five years, and part of the premium paid by the employer may be taxable to the employee? Group insurance is a convenient low-cost way to get coverage with no underwriting and little hassle, but at older ages there may be better solutions.

Given the current market, many of our advisors have been asked by business clients about the availability of Key-Person coverage for executives and critically important contributors at their companies. We continue to have access to the markets for all of your Key-Person needs. We are utilizing the carriers accelerated underwriting programs in order to access up to $5,000,000 of coverage without full medical underwriting or labs for a Preferred to Standard health risk. Financial Underwriting requirements remain the same with each respective carrier.