Advisors Blog

GBS News: Product and Underwriting Updates - Week of March 20 - March 30, 2023

Published on March 30, 2023


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Liquidity and Risks for Banks vs. Life Insurance Companies

ALIRT, March 14, 2023 - There has been considerable client interest in the liquidity of life insurance and annuity companies in the wake of bank regulatory actions against Silicon Valley Bank (SVB) and Signature Bank of New York (SBNY) over the last several days. The concerns are understandable given the number of similarities between banks and life insurance companies. There are several substantial differences between banks and life insurance companies that result in materially lower liquidity risks for life insurers.


Premium Discount Rate Rises to 5%, Effective March 7, 2023

Allianz has raised their Premium Discount Rate to 5% – effective March 7, 2023, on the Premium Deposit Fund Rider available with Allianz Life Pro+® Advantage Fixed Index Universal Life Insurance Policy. This aligns it with their current fixed rate, also at 5%.


Term Expiry Marketing Campaign

The Term Expiry Marketing Campaign is a direct mail program targeting select LGA (Banner) policyholders with policies between 4 and 6 months from the end of their level term period. Eligible customers will receive a letter giving them an opportunity to call our in-house dedicated call center to receive an insurance review and no-obligation quote.


Electronic PHI (ePHI) Available 3/27/23

Effective March 27, 2023, Lincoln will deliver the next step in offering a complete end-to-end digital experience for clients with the launch of Electronic Personal History Interview (ePHI).

How it Works:

Currently, a PHI is conducted through a scheduled follow-up phone call (usually during business hours), between a Lincoln Underwriter and the client, to gather additional information needed for underwriting review. This enhancement offers clients the option to answer underwriting follow-up questions through an online link and questionnaire, versus over the phone. The client can access ePHI anytime day or night – 24/7 – when it’s convenient for them!

What You Need to Know:

  • Due to privacy regulations, the ePHI must be completed during one session (any information entered will not save if the client exits the form prior to submission)
  • The ePHI link is active for 10 days
  • Availability: Life insurance (Term, IUL, VUL) ticket and Lincoln MoneyGuard® application submissions with eInterview

Lincoln Leader: Fixed Annuities

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

  • Lincoln Earns High Marks
  • Lincoln Optiblend Resources
  • Simplified Registration Process
  • Updated Website Notices
  • Transition Period for Forms
  • Tax Form Information
  • Updated 1099-Rs for Some Clients
  • Ira Contribution Information
  • NAIC Training Required – GA

Inforce LTCi Rate Adjustments Effective June 1, 2023

Mutual of Omaha will be implementing the following inforce rate adjustments effective June 1, 2023.


PL Promise GUL & PL Promise Conversion UL: Reprice & Enhancements

PL Promise GUL and PL Promise Conversion UL have been repriced and now offer the following enhancements beginning March 27, 2023.


  • Greater commissionable target premiums (now in top three among competitors )
  • Higher return of premium feature (for policies over $250K face amounts)
  • Larger PL Promise GUL maximum face amount (to $20M to age 71)

UPCOMING WEBINAR: Business Market Solutions: 3 Ideas in 15 Minutes

Tuesday, April 4, 2023

3:15 pm ET | 2:15 pm ET | 12:15 pm PT

Please join Principal for a fast-paced sales idea session with the regional directors of business solutions.

The speakers will cover the following:

  • Uncovering new opportunities with Principal Guaranteed Issue Term II
  • Adding value to a group benefits sale
  • Considering alternative design options



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

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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