Advisors Blog

GBS News: Product and Underwriting Updates - Week of August 28 - September 7

Published on September 07, 2023


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AG49-B Compliance and Performance Implications

Dive into the implications AG49-B has for insurance industry policy illustrations with Sherman Reeves of Columbus Life Insurance Company in this recent article.


New Growth Cap Rates for Market Stabilizer Option (MSO) II, Effective

August 18, 2023

The MSO II Indexed Options offer varying levels of downside protection combined with the potential for growth opportunities in various market conditions. Equitable offers three Standard Indexed Options, a Step Up Indexed Option and a Dual Direction Indexed Option. Your clients can invest in one or more of the five MSO II Indexed Options in addition to the variable investment options.

*The Market Stabilizer Option® II is available with new issues of VUL Optimizer®, VUL Legacy®, VUL Optimizer® Max, COIL Institutional Series and Equitable Advantage Max.

There may be a delay between the current Growth Cap Rates being declared on each Segment Start Date and the MSO II Growth Cap Rates shown in the illustration systems, if applicable. The illustration system is generally updated with any new rates on or around the first business day of each month.


Term Application Deadline Extension Through November 17, 2023

John Hancock has extended the deadline to submit applications for Protection and Vitality Term 20 products to November 17, 2023. As such, the following products will be available until November 17, 2023:

  • Protection Term 20: Guaranteed level premium product with a 4 year conversion period* for 10, 15, 20 and 30 year durations.
  • Vitality Term 20: Non-guaranteed, non-level premium product with signed illustration required. 
  • Protection Term 23: Guaranteed level premium product with a 6, 8, 10, and 12 year conversion period* for 10, 15, 20 and 30 year durations.
  • Vitality Term 23: Guaranteed, non-level premium product that does not require a signed illustration. Offers enhanced convertibility that can be further extended up to 10 years on 10 and 15 year durations and 15 years* on 20 and 30 year durations with Vitality participation in the three years prior to conversion.

After November 17, 2023, only Protection Term 23 and Vitality Term 23 will be available for quoting. See below for transition rules.


Improved Pricing for MoneyGuard® Solutions, Effective September 11, 2023

Effective September 11, 2023, Lincoln Financial will be implementing pricing decreases to Lincoln MoneyGuard Fixed Advantage, which will improve competitive positioning. There will be no pricing increases as a result of this update.

Following a transition period, Lincoln MoneyGuard Fixed Advantage-September 11, 2023 will replace currently sold Lincoln MoneyGuard Fixed Advantage-January 23, 2023.

Pricing Improvements

  • Pricing improvements range from 0 - 15%
  • Average pricing decrease is 5%.
  • Issue ages 55 through 65 will see the most improvement.

Download this Week's Edition of the Lincoln Leader

Product Headlines

  • Coming Soon - Lincoln MoneyGuard Fixed Advantage Pricing Improvements
  • Lincoln MoneyGuard Marks 35th Anniversary
  • Coming Soon - Indexed Account Rate Changes (reprint)

Process Headlines

  • Automated Underwriting Expansion to eApp (reprint)
  • Express Issue for Term Policies
  • Save Time with Pre-Populated Term Disclosure Forms
  • 2023 Life Insurance Year-End Guidelines
  • GoDigital Website Revamp
  • Lincoln Financial Group to Work with Policy Owners Impacted by Wildfires in Hawaii

Download this Week's Edition of the Lincoln Leader - Fixed Annuities

  • Guaranteed Minimum Rates
  • Lincoln MyGuarantee Updates
  • Lincoln Optiblend Accounts
  • Market Intelligence Exchange
  • Regulatory Round-Up
  • NAIC Training Required: New OK

Get Ready for Life Insurance Awareness Month in September

To help prepare for Life Insurance Awareness Month (LIAM) in September, MassMutual Strategic Distributors has curated a LIAM toolkit of videos, concept pieces, and more.


Cost-of-Care Tools To Help Your Clients Pay Their Long-Term Care

The Mutual of Omaha cost-of-care study is conducted annually in over 300 cities in all fifty states, and the results are in - cost of services continues to rise in every category. In fact, the national average for a private nursing home room is over $100,000 per year.

To help navigate the conversation about how clients intend to pay for their long-term care, here are some updated cost-of-care tools:

  • Cost-of-Care Calculator: See the current cost of LTC services by state and view what those costs might be 5, 10 or 20 years down the road.
  • Cost-of-Care Brochure: Use this brochure to help clients understand the current cost of LTC services in their state.

New Pricing for PL Promise Term

Effective September 5, 2023, Pacific Life Insurance Company is rolling out new pricing for PL Promise Term level premium life insurance—a product designed to offer affordable death benefit protection to consumers with household incomes of $50,000-$250,000 and business owners needing short-term flexible coverage.

Rates have been updated to increase competitiveness across all combinations of terms, risk classes, gender, and issue ages with a focus on lower premiums at $3 million of coverage and above. Targeted “Sweet Spots”

  • Top 3 in 99% of non-nicotine risk class combinations across all ages and face amounts on annual mode
  • Top 4 for 99% of non-nicotine risk class. combinations across all ages and face amounts on monthly mode. 

Transition Period

The new PL Promise Term rates go into effect beginning September 5, 2023 for all states except NY. Cases that are issued (for delivery) through November 3, 2023 automatically receive the better of the old and new PL Promise Term rates. No request is necessary. This date provides a 60-day transition from our new rate launch date. Cases that are issued after November 3, 2023, receive the new PL Promise Term rates. 


Protective eInterview Now on Vive!

Effective September 1, 2023, all orders submitted through Vive for Protective will automatically route to eInterview. Clients will receive an email directly from Protective with a link to complete the application electronically.

How it Works

  • Starting September 1, 2023, all orders submitted through Vive for Protective will automatically route to eInterview.
  • The agent nor agency will be able to decide the path of fulfillment.
  • Any cases submitted prior to September 1, 2023 will continue with a Tele-Interview.
  • Vive’s case status will reflect eInterview as the fulfillment requirement just as you see tele-interview.
  • Protective owns their eInterview process, there is no outsourced vendor so please contact your dedicated new business team at the Protective with any questions or concerns on submissions. 
  • Does not include NY business. NY will be launched separately in the next few weeks. A separate email will follow at a later date to collect GA code information for those agencies that want to “opt-in” to Protective NY.

SwiftTerm Improved Rate Changes, Effective September 1, 2023


Effective September 1, 2023, SwiftTerm is once again a leader for low premium across the board for coverage amounts of $500,000 to $3 million—especially in their sweet-spot ages of 25 to 55 in non-nicotine rate classes.

Transition Rules

  • New SwiftTerm rates are available starting September 1, 2023. All new and pending applications will receive the lowest rates available.
  • Policies issued before tomorrow will keep the older rates.

Symetra’s Carrier Match Program

Starting September 1, 2023, Symetra will match formal or informal rate class offers from their group of eligible life insurance carriers.

The program is available with Accumulator Ascent and Protector IUL products for issue ages 20-65 and face amounts up to $5 million.




We at GBS Insurance thank you again for your business.

For more information or insurance quote requests, please contact your brokerage manager.

GBS Insurance and Financial Services, Inc, CA License #0D87913

21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

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

GBS Insurance and Financial Services, Inc. does 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.

© 2023 Arthur J. Gallagher & Co. 




GBS News: Product and Underwriting Updates - Week of October 20 - November 2

Allianz's announced their first ever Risk-Class Upgrade Underwriting Program, offering automatic risk-class upgrades, up front, for qualifying clients. 


GBS News: Product and Underwriting Updates - Week of October 9 - October 19

Effective October 9, 2023, iPipeline iGO and LifePipe users can easily access ALL underwriting submission paths in the same session with the new SimpliNow Choice platform.


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