Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of May 9, 2022

Published on May 12, 2022


Are you having trouble viewing this email? View web version here.

Agile Underwriting+ Opt-Out Available for IUL Cases in iGO Full eApp

The option to opt-out of AIG's exam-free program Agile Underwriting+ is now available for IUL cases submitted via iGO full eApp. This option may be useful for clients who will likely require exams and labs.


In Case You Missed It - Important Process Change for Paper Application Submits 

In case you missed our previous email, LGA is making process changes that will only affect those advisors currently using paper applications to submit business for Banner (non-NY) business. They are:

  • LGA developed an alternative to their traditional paper life insurance application (LIA) — a fillable PDF that is now accessible in the Forms section of their Partner Dashboard.
  • If you use either of these two options to submit business, LGA will transfer all app information collected into their digital platform to automate processing starting April 29.

Click below for their helpful list of FAQs.  


MoneyGuard Fixed Advantage Product Release - Effective May 16, 2022 

Effective May 16, 2022, Lincoln MoneyGuard Fixed Advantage will replace Lincoln MoneyGuard III in approved states. With the launch of MoneyGuard Fixed Advantage, Lincoln Financial is also introducing the new Benefit Transfer Rider (BTR) that is automatically included with all MoneyGuard Fixed Advantage policies, at no additional cost. This innovative rider provides the opportunity to enhance an existing policy’s long-term care and death benefits through the utilization of death claim proceeds from a separate policy at a rate that will always be greater than the amount being transferred.

Benefit Transfer Rider Qualifications:

The BTR provides beneficiaries the choice of additional flexibility with the option to use some ($25,000 minimum) or all of their death benefit proceeds to enhance benefits on their existing MoneyGuard policy with no additional underwriting requirements. Qualifications are:

  • Insured and beneficiary are MoneyGuard policyholders.
  • The Benefit Transfer Rider is on both policies.
  • The beneficiary is the insured on their policy.

For applications to qualify for the current MoneyGuard III (2021) – 01/10/22, a projection of values and the completed Part 1 must be signed, dated, and received in-good-order by Lincoln’s home office by Friday, June 17, 2022.


Coming Soon - Lincoln WealthPreserve 2 Survivorship IUL 2022 - May 16, 2022 

Effective May 16, 2022, subject to state availability, Lincoln is pleased to introduce Lincoln WealthPreserve® 2 Survivorship IUL (2022) to their life insurance portfolio.

Lincoln WealthPreserve® 2 Survivorship IUL (2022) offers long-term protection, built-in guarantees, and lifelong flexibility. Built for couples who want solid, cost-effective protection for two lives under one policy.

Product Highlights

Guaranteed Financial Protection:

  • Extended guaranteed death benefit protection for up to younger insureds age 95 for issue ages 55+ or younger insureds age 90 for issue ages 50 and below.
  • A simple approach to death benefit guarantee catch-up premiums means your clients can pay the intended premium at any time and keep their death benefit guarantee intact.
  • Access to cash value through loans, with guaranteed interest loan charge rates for the duration of the policy.

Optional Benefit for Protection:

New! Introducing the Supplemental Increase Rider: Helps protect against cost-of-living increases by automatically growing the policy’s coverage amount by 3% of the initial specified amount each year, beginning in the second policy year.

  • Unless terminated earlier, the rider is in effect to age 80 of the younger insured or until the maximum benefit amount is reached. The maximum benefit from this rider may not exceed two times the initial specified amount or $50 million.
  • There is no specified charge for this rider, however the cost of insurance charges will reflect the higher coverage amount.
  • Only available with Level Death Benefit Option (DBO1), not allowed with Extended No-Lapse Minimum Premium Rider.

Discontinuation of New Sales of Lincoln LifeGuarantee UL (2019) and Lincoln LifeGuarantee SUL (2019) - Effective June 10, 2022 

After careful consideration, Lincoln has made the decision to discontinue new sales of Lincoln LifeGuarantee UL (2019) and Lincoln LifeGuarantee SUL (2019) (Survivorship UL), which accounted for just 1% of all Lincoln Life sales in 2021. These changes are effective in all states, June 10, 2022. The changes do not impact inforce policyholders.

All applications for the products listed above must be received in-good-order at Lincoln by June 10, 2022.


Disability Insurance Awareness Month (DIAM) Tool Kit

Far too many Americans have an enormous gap between their need for disability income (DI) insurance and the actual coverage they have.

May is Disability Insurance Awareness Month (DIAM). It is the perfect time to speak with clients about protecting a portion of their income in the event of a disability.

To help you have the DI conversation, MassMutual has developed these client approved materials for you to use during DIAM and beyond.


New Improved Large Premium Illustration Capabilities Coming Soon

Beginning May 16, 2022, you will no longer need to contact Prudential home office for a large case illustration. PruLife Illustrator and Winflex web will be updated to allow all users to run large premium illustrations. A splash page reminder will be added to the illustration, noting that home office review and approval will be required before submitting business for premiums over the current limit.


Premium Deposit Account Rate Change Effective May 1, 2022

Effective May 1, 2022, Securian has increased its Premium Deposit Account (PDA) interest rates by .25%. New rates will be reflected on the financial professional site and in the illustration system on May 1, 2022.


Symetra’s “Term to Perm” and “Perm to Perm” Underwriting Programs

With Symetra’s External Term Conversion and Permanent Exchange Underwriting programs, clients can convert their external term policy or exchange their external permanent policy for a permanent Symetra life insurance policy.

Review Symetra's External Term Conversion Program (PDF) and Permanent Exchange Underwriting Program (PDF) flyers for more details. 




Uncover New Opportunities with Mirrored Loans

Do you have clients with large loans on their existing life insurance policies? These policies could be drowning from high interest costs, leaving the client with an unexpected tax problem (and no insurance coverage). For clients with loans in danger of lapse, the mirrored loans strategy could help.

Please join us for an exclusive GBS webinar discussing strategies for rescuing old whole life contracts (and other cash value contracts) that have large outstanding loans.

In this 30 minute webinar we will discuss:

  • Where to find these opportunities.
  • Avoiding costly tax mistakes for your clients.
  • Creative 1035 techniques.
  • How to pay off loan with internal cash values.
  • How to get paid on the ENTIRE Gross 1035, not just the net cash value.
  • How to rescue encumbered policies with high loan-to-cash ratios, even 90%.

Tuesday, May 17, 2022

10:00 am PST / 1:00 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.


Get Started

Start Your GBS Online Account

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas mnt in culpa qui officia deserunt n culpa qui officia des mollfuga.

Stay Connected