Advisors Blog

Easy Reference Tax Guide 2022

Here’s a handy chart that shows all the key IRS numbers you are likely to need for tax and planning work – marginal tax rates, credits, deductions, contribution limits, estate taxes and more.

Nationwide Intelligent Underwriting -Acceleration Guidelines Keep Expanding for the Better

Nationwide has expanded its acceleration guidelines within the Nationwide Intelligent Underwriting process. Now, clients between the ages of 18 to 50 years old are eligible for acceleration up to $5 million in face amount. This specific age group was previously capped at a $2 million face amount. 

Get Less APS Requests with Horizon

Legal & General America is enhancing their Horizon Experience to significantly reduce APS requests. These enhancements will get your offers delivered quicker and streamline your business process.

APS orders are no longer required for the following age groups and face amounts:

• ages 20-50 up to $2M (implemented in May of 2021)
• ages 51-60 up to $2M (implemented in January of 2022)

*If Standard NT or better, subject to full disclosure on the application (Part 1 and Part 2). APS will be required for cause and/or impaired risk, regardless of age/face.

When LGA implemented this enhancement for ages 20-50, they saw a reduction in APS requests as high as 20%. They anticipate an even greater impact for ages 51-60.

Advisors can also expect:

• decreased cycle time
• increased instant decision rates
• increased light touch decision rates

Lincoln AssetEdge VUL (2022) - Available Starting 1/24/22

Effective Jan. 24, 2022, subject to state availability, Lincoln is pleased to introduce the newest product in its variable universal life portfolio, Lincoln AssetEdge^® VUL (2022).

The new Lincoln AssetEdge^® VUL (2022) continues to offer death benefit protection with growth potential through investment options and flexibility to meet your client’s future financial goals. This product replaces the existing Lincoln AssetEdge^® VUL (2020) and Lincoln AssetEdge^® Exec (2020) product versions with the focus on providing significant market-driven growth potential and cash value liquidity for retirement and protection needs. Pricing updates improve competitiveness in both accumulation/distribution focused designs and protection focused designs.

TLE 30T ROP: New Riders Available Effective February 1, 2022

Effective February 1, 2022, the TLE 30T Return of Premium (ROP) product now has Critical Illness and Chronic Illness Riders in addition to the Terminal Illness Rider. Our TLE ROP, TLE non-ROP and IUL Express products now all feature Living Benefits – at no additional cost.

We will also be increasing rates on TLE 30T ROP by an average of 5% while still winning the sale against our competitors in most cells, especially males and females ages 25-35.

Here’s What You Need to Know:

• Chronic Illness and Critical Illness Riders will be added to TLE 30T ROP in all states except California
• TLE 30T ROP rates will increase by an average of 5% while remaining competitive in the industry

Transition Rules:

• Applications signed prior to February 1, 2022 will receive the old rates and available riders.
• Applications signed on or after February 1, 2022 will receive the new rates and additional available riders

Policy Crediting Rate and Indexed Parameter Changes

Effective March 1, 2022, the following adjustments will take place on new and inforce policies:

• UL crediting rates will increase on Protection UL and Protection SUL by 30 bps.
• Indexed UL caps will decrease for certain Accumulation IUL, Protection IUL, Protection SIUL, Accumulation VUL and Accumulation SVUL accounts, while participation rates will remain unchanged. The last segments to utilize the old rates will initiate on February 15, 2022 with a lock-in date of February10, 2022. The first segments to utilize the new rates will initiate on March 15, 2022.
• Fixed Account rates will decrease for certain indexed UL and variable UL products by 10 bps.

The attached chart details the new rates for each product - only the rates and accounts affected by this change are listed.