Advisors Blog

GBS News: New PacLife Program | UL Price Increases | Higher Fluidless Underwriting | and more

Published on May 19, 2021


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Swift Sailing Accelerated Underwriting

PL Swift Sailing offers your clients a more convenient and less invasive underwriting process so they can get the life insurance coverage they need faster. PL Swift Sailing requires no medical exams, needles, fluids, or APS. Those up to age 60 could get up to $2 million in coverage, even with nicotine use. Use this checklist to see if your clients will qualify. Click below to learn more.


AIG Secure Lifetime GUL 3 Increasing Rates Effective 5/15/21

Effective May 15, 2021, premiums on Secure Lifetime GUL 3 will be increasing by an average of 17% for most cells, with ages 45 to 65 seeing some of the largest increases. Secure Lifetime GUL 3 continues to offer attractive features to help clients achieve financial security.

  • Guaranteed ROP: Built-in option to receive 50% end of year 20 or 100% end of year 25.
  • Partial withdrawal capability feature.
  • Optional Accelerated Access Solution® for chronic illness coverage up to $3M of client’s base policy.

Optional Lifestyle Income Solution® that provides a guaranteed income by accelerating death benefit..


AIG Value+ Protector II Premiums Increasing Effective 5/15/21

Effective, May 15, 2021, AIG is repricing their Value+ Protector II product due to the impacts of low interest rate and spread, especially on younger ages. In addition, the Cash Value Accumulation Test (CVAT) interest rate is updated to meet the new IRC 7702 requirements.

As a result of the change:

  • Premiums will increase slightly by 1-3%.
  • Primary guarantees for younger insureds (45 and under) will drop below age 90, while older ages can still be guaranteed to and around 90.
  • No or minimal change to cash value and target premium.
  • No changes to cap, par and max illustrated rates.

Nationwide No-Lapse Guarantee UL Pricing Changes Effective 6/13/21

Nationwide is repricing two of their No-Lapse Guarantee UL (NLG-UL) products and one version of the ENLG Rider. The reprice takes effect June 13, 2021 and applies to all new business for the following:

  • Nationwide No-Lapse Guarantee UL II
  • Nationwide YourLife No-Lapse Guarantee UL (NY)
  • The Age 120 version of the ENLG Rider on Nationwide IUL Protector II 2020 − The Age 90 version of the ENLG Rider on this product will not be affected by this reprice.

Please click below for transition guidelines.


John Hancock Concierge Underwriting - NO Exam, Up to Age 70 and $65M

John Hancock's concierge underwriting process eliminates the need for a traditional insurance medical exam as part of the application process, when possible, by leveraging the health data available in traditional attending physician’s statements, electronic health records and patient portal information. Available to applicants ages 35-70, coverage up to $65 million for all term and permanent products, single life and survivorship. For more information, please contact your brokerage manager or click below for more details.


John Hancock - Bronze Guarantee

Take advantage of John Hancock's new "Bronze Guarantee" sales strategy on JHIllustrator to show your clients what the all-new Protection VUL can offer:

  • A competitively priced guarantee to age 100.
  • The opportunity to save up to 25% off that guaranteed premium by utilizing John Hancock Vitality.

The Bronze Guarantee solve shows a competitive level premium at Bronze, with an even lower guaranteed premium every time a Vitality status above Bronze is achieved. And if the client stops engaging in Vitality PLUS, the guaranteed premium remains level. Click below for more information.




We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966.

For agent use only - not for use with the general public.

Corporate License No. 0D87913


21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. do not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

© 2021 Arthur J. Gallagher & Co. 




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