Advisors Blog

Underwriting Requirements Update

Cincinnati Life recently completed an assessment of the medical requirements that apply to all fully underwritten products. As a result, they have updated their guidelines for the medical examinations required for life insurance applications.

Key points:

• Telephone interviews are no longer required for face amounts of $3 million or lower.
• EKG’s required for fewer groups.
• Physician exams and chest x-rays no longer required.

Rider Availability Changes in Washington

Effective May 16, 2022, Lincoln will once again offer Long-Term Care Rider (LTC Rider) and Lincoln Care Coverage Accelerated Benefits Rider (CCBAR) for new sales in the state of Washington.

A Real-Life Solution with No Additional Underwriting Requirements

Mutual of Omaha automatically issues a Chronic Illness Rider on all Income Advantage and Lifetime Protection Advantage IULs, no additional underwriting required.

New Rates for PL Promise Term Life Insurance Effective April 18, 2022

Effective April 18, 2022, Pacific Life Insurance Company is repricing rates for PL Promise Term level premium life insurance—a product specifically designed to serve the death benefit protection needs of the broad market consumer (household incomes of $50K to $250K). Rates have been updated to be more competitive. A 60-day transition period is provided.

• Top 5 for 100% of preferred no-nicotine risk class combinations across all terms for face amounts less than $500K and ages 50 and younger.
• Top 5 for 99% of preferred no-nicotine risk class combinations across all terms for face amounts less than $500K for all ages.
• Top 5 for 94% of preferred no-nicotine risk class combinations (Preferred Best, Preferred, Select) across all terms, face amounts, ages, and genders.
• Top 2 for 100% of preferred no-nicotine risk class combinations for face amounts less than $100K. 

Pacific PremierCare Choice and Pacific PremierCare Advantage Decommissioned Effective May 2, 2022

Effective May 2, 2022, Pacific Life Insurance Company’s Pacific PremierCare suite of products will no longer be available for new sales. This includes Pacific PremierCare® Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits in California.

Click below for more details.

Chronic Illness and Waiver of Premium Agreement Changes Starting April 29th

Effective April 29, 2022, Securian will be making some changes to the availability around these agreements:

Accelerated Death Benefit for Chronic Illness Agreement (ADB-CIA) and Waiver of Premium Agreement (WPA) are optional agreements offered on individual life insurance policies.

• ADB-CIA and WPA will no longer be available to add to inforce policies
• ADB-CIA is now approved in Florida for new Indexed Universal Life (IUL) sales (Eclipse Accumulator and Eclipse Protector II)
• New issue ages for ADB-CIA will be 25-65 (previously ages 20-80) in Florida only
• Applications received after April 28, 2022, will be subject to the new issue ages of 25-65 for ADB-CIA 

Term Applications for $1.5 Million and Below Will Require Digital Submission Starting May 2, 2022

Securian will require eApp or Drop Ticket application submissions for Advantage Elite Select term policies $1.5M and below starting May 2, 2022. This will ensure that your applications are submitted in good order.

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.

The Value of Income Planning: A Process for Retirement Preparedness

Allianz's Value of Income Planning℠ (VIP) process helps you provide additional value when reviewing your clients’ overall retirement income strategies by helping them to uncover income gaps and identify potential solutions.

We want to invite you to a virtual event for “The Value of Income Planning: A Process for Retirement Preparedness” where Allianz will introduce you to a repeatable and easy-to-use retirement income process, provide supporting materials and tools you’ll need for income conversations with clients, and provide a demonstration how annuities could fit within a financial strategy as a retirement income gap solution.

This session will cover the following:

• The easy to use Value of Income Planning process.
• The importance of reliable income strategies to help cover potential income gaps.
• An eMoney financial planning software annuity modeling demonstration.