Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of October 10, 2022

Published on October 13, 2022


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New Allianz Underwriting Risk-Class Upgrade Program

Allianz's first-ever Risk-Class Upgrade Underwriting Program is now available. This program applies to Allianz Life Pro+ Advantage issues policies that meet eligibility requirements including Premium Finance and Foreign Nationals business.


Now available: Save Age feature for digital applications

You now have the option to backdate the policy effective dates in order to receive lower insurance rates for your clients. This option allows you to backdate life insurance policies by as much as six months* from the date the application is signed in order to offer insurance based on the nearest age of your client.

It locks in the price of the policy at a younger age by paying extra upfront with the first premium. By taking advantage of this feature and using a younger insurance age, your clients will pay extra premium up front resulting in considerable overall savings over the life of their policies.

*Based on individual state regulations.


MassMutual 2022 Year End Deadlines

Important key dates and deadlines for processing 2022 year-end business.  


Nationwide Advanced Premium Deposit Account Offers Many Benefits and Now Allows for a Larger Deposit

This Nationwide Advanced Premium Deposit Account enables your clients to prepay premiums, potentially avoid a Modified Endowment Contract (MEC), and now allows for a larger deposit.  


10% higher target premiums on select Nationwide IUL and VUL; limited time only

Nationwide is excited to announce a 10% increase in target premiums for a limited time only on the following products:1

  • Nationwide® IUL Accumulator II 2020
  • Nationwide® VUL Accumulator 

Important Dates:

  • October 17, 2022 to Jan 6, 2023: Formal applications received during this time period are eligible to receive the 10% target premium increase; policies must be funded and in-force by March 31, 2023.
  • Jan 7, 2023 - The 10% target premium increase ends; target premiums return to the lower level in effect prior to the increase.
  • Mar 31, 2023 - Policies must be funded and in-force to qualify for this 10% target premium increase.

The 10% increase in target premiums is not available on corporate-sponsored individually-owned policies or multiple-life cases. 




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: Weekly Product and Underwriting Updates - Week of November 7, 2022

MassMutual will reprice UL Guard and Survivorship UL Guard in November, with premium rates generally improving because of higher interest rates. These flexible-premium universal life products provide the protection of permanent life insurance and may be an important part of your clients' estate and legacy planning.


GBS News: Weekly Product and Underwriting Updates - Week of October 31 - November 4, 2022

American National has arrived at the purposeful decision to cease term life sales at this time. As of 12/1/2022, American National will no longer accept applications for Signature Term Life Insurance.


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