Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of June 13, 2022

Published on June 16, 2022


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Update to AIG L&R AML Training Requirements

Effective immediately, any financial professional appointed with an AIG Life & Retirement business now has a 2-year window to renew their AML training, dating back to the last date of AML training completion.


As of August 1st, LGA will no longer accept traditional paper life insurance applications (LIA)

Last month, we reached out to you with important news affecting those advisors using the traditional paper LIA (ICC08-LIA and state variations) to submit business for Banner (non-NY) business.  

Highlights included:

  • Introduction of an alternative application to the traditional paper LIA — a new LIA (ICC17-LIA and state variations for CA, DE, FL, ND, SD) that is accessible in the Forms section of LGA's Partner Dashboard 
  • Overview of changes made to their traditional application process until they retire the traditional paper LIA  

Effective August 1, LGA will no longer accept the traditional LIA (ICC08-LIA and state variations). As of this date, these forms will no longer be accepted. All applications must be submitted with either the new LIA or the digital application through their Horizon platform.

Click below to review and download their FAQs, process map including pro tips for making this transition easily, and Horizon marketing resources. 


WEBINAR: OneAmerica’s Asset Care Portfolio Repricing: More Benefits for Your Clients’ Dollars

OneAmerica is one of the first companies to offer a pricing decrease on their Asset Care product across the country. Agents can now offer their clients more for their dollars, in addition in increased long-term care benefits for the same amount of premium. 

During this LIBRA-exclusive webinar, OneAmerica will discuss:

  • Asset Care Reprice Update and Transition Rules
  • Sales Idea Spotlight
  • Out-of-the-Box Marketing Collab Opportunity

OneAmerica's portfolio of Asset-Based LTC products offers unbeatable value and innovative features. 

Unique Benefits

  • Lifetime Benefits available.
  • Guaranteed Premiums  no risk of future increase.
  • Joint-Life/Survivor Coverage – unique patented joint-life product means a couple can share one pool of funds for less premium than two policies.

June 16, 2022 12PM PST / 3PM EST


Interest Rate Changes - June 15, 2022

New business interest rates for some OneAmerica® Care Solutions products are changing effective Wednesday, June 15, 2022.

  • Annuity Care® LTC fund rate and Indexed Annuity Care® rates are increasing.
  • All other rates remain the same.

Note: All products may not be available in all states or may vary by state. 


Protective Classic Choice Term Reprice, Effective June 6, 2022

Protective is excited to announce they've lowered their Protective® Classic Choice term prices once again. And with longer term periods, more flexibility and faster technology, they’re also making short-term business easier and more innovative.

Transition Rules:

  • For paper business: applications must be signed and received on or before June 20, 2022.
  • For ticket business and direct writer: applications must be signed and received on or before July 4, 2022.
  • Any application in Underwriting on June 6, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.
  • New York does not have a rate change; however, the plan codes are changing so they will follow the above rules.

Plus, you can create more ideal client experiences with Protective Velocity – their suite of digital solutions that makes submitting business fast and hassle free


Fund Changes Effective in June 2022

There will be two fund mergers and two fund names will change effective in June. 




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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