Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of April 11, 2022

Published on April 14, 2022


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Increased Cap Rates and Max Illustrated Rates on IULs Effective April 16th

Effective April 16th, AIG is increasing cap and max illustrated rates of select index accounts on QoL Max Accumulator+ II and QoL Value+ Protector II. These changes make their IULs stronger despite volatile market conditions to help grow your business.


OPTerm Rate Change Effective April 6th

On Wednesday, April 6th, Legal & General updated their OPTerm product.

More reductions, especially in the non-tobacco classes, mean more #1 pricing than any other carrier.

Changes to level period premium rates include a mix of increases and decreases, across level term periods (10, 15, 20, 25, and 30 years). Both annual and monthly rates are highly competitive. 


Introducing the Advisor Tech Squad!

As part of LGA's growing commitment to you, they are pleased to introduce the Advisor Tech Squad. This team provides external tech support to agents and agencies, helping to solve technology challenges.

Benefits of the Advisor Tech Squad include:

  • Fully dedicated and experienced tech support team. 
  • Direct access to the team, resulting in faster resolution.
  • Availability from 8 am – 8 pm EST, Mon-Fri (no weekends or holidays).

Fixed Annuities Rate Changes Effective April 11, 2022

Effective April 11, 2022, Global Atlantic, issued by Forethought Life Insurance Company, has made the following annuity interest rate changes.


Principal Introducing New Life Insurance Application that Delivers Benefits

Principal will be introducing a new life insurance application later this year, which will offer many benefits, including:

  • An easy-to-use design. The online application is dynamic, meaning that for any given case, only questions applicable to that case are presented. And checkboxes are used, making it quicker and easier to navigate through questions.
  • A single application is needed. Only one application is required regardless of product, including survivorship life (state variations may still apply).
  • Parts A and B are enhanced. When the owner and insured are different for a case, both will have the chance to complete their portion of the Part A digitally. And the Part B will be the same for both life insurance and individual disability insurance, making combo cases easier.
  • Supplemental forms are integrated into the application. Many supplemental forms that are standalone today have been made part of the application. When you use the online application, you’ll only be presented with forms you need to complete based on the specifics of the case.
  • More applications will be received in good order. Applications completed digitally are generally more complete and lead to a smoother policy issue process for you and your clients.

Digital Health Data Expansion

For applications meeting the following age and face amount guidelines, with minor or no medical history disclosed, Principal will obtain digital health data as a routine age and face amount requirement instead of an Attending Physician Statement (APS). 

  • Applicable to applications with consumer completed Part B only
  • Age 69 or below
  • Face amount: $10,000,000 or below
  • Medical history: Minor or none

Digital health data is preferred over APS when APS is listed as one of the routine requirements .


Symetra Variable Universal Life is Now Available for High-Net-Worth Foreign Nationals

Symetra variable universal life insurance is now available with their high-net-worth foreign national market program!


New Index Cap and Participation Rates for Accumulator and Protector IUL as of April 8, 2022

Allocations to the index strategies will be credited with interest based on the performance of the selected indexes, subject to their index cap, index spread, index floor and participation rate. The index cap sets limits on the maximum potential interest earned over the index segment term while the participation rate establishes how much of the indexes’ performance you will be credited (if any). The index spread sets a minimum performance threshold above which the index must perform and credits the interest (if any) above the threshold. All strategies have an index floor to ensure that, if the selected index has negative index performance during its segment term, your index interest crediting rate will not be less than zero.




Legacy Essentials: How you can help clients realize wealth transfer goals

Enhance Your Expertise and Earn Valuable Credits

Nationwide's continuing education programs from the Nationwide Retirement Institute are designed to help you deepen your client relationships by being well-informed about the subjects they care about.

Tuesday, April 26, 2022

11:00 am PST / 2:00 pm EST 




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. 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.

© 2022 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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