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5 Year Effective Yield of 4.90%
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MassMutual has announced their MassMutual Ascend SecureGain 5 fixed annuity product. This is a 5 year effective yield of 4.90%
Click the image below to view rate sheet for the MassMutual Ascend SecureGain 5.
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PRODUCT & UNDERWRITING UPDATES
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AIG 2022 Year End Deadlines
Important key dates and deadlines for processing 2022 year-end business.
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New Adjustment to Accelerated Underwriting Program
As of September 6th, Allianz is now allowing clients to stay in the Accelerated Underwriting program after two insurance activity hits within the previous 6 months. If there are three or more insurance activity hits in the last 6 months, the client will have to go through full underwriting.
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Allianz Life Pro+ Advantage Rate Changes, Effective October 4, 2022
Cap and participation rate changes will apply to Allianz Life Pro+® Advantage Fixed Index Universal Life Insurance Policy effective October 4, 2022.
The new maximum illustrated rate has increased to 6.71%.
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John Hancock 2022 Year End Deadlines
Important key dates and deadlines for processing 2022 year-end business.
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Nationwide 2022 Year End Deadlines
Important key dates and deadlines for processing 2022 year-end business.
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Introducing Secure Wealth Plus 10 Pay WL and Market Wealth Plus VUL - Effective October 5, 2022
New York Life has introduced two new products to market, effective 10/5/22. Both products are cash accumulation / retirement income focused and have a minimum premium of $20,000 (brokerage). For cases with annual premiums of $150,000 ($100,000 for juveniles), or less, both products are generally being issued with expedited underwriting.
The applications should be taken using the E-Life application process (electronic app). Once the application is complete the client will be sent an email to complete the non-med Part 2 online. Assuming satisfactory answers to the non-med questions the plan is to have all the policies approved within 48 hours of receiving the non-med!
Secure Wealth Plus
- 10 Pay (only) Whole Life Product on a 2% guarantee pricing chassis
- Approximately 50% cash surrender value in year 1
- Premium Deposit Account (PDA) is available with this product (currently 4.75%)
- Product is not yet available for premium financed cases
- Product has a different compensation structure than Custom Whole Life
- Not yet available in New York
Market Wealth Plus
- Flexible premium variable life product
- Optimal premium paying period is between 7-10 years
- First year cash value approximately 97%
- Not yet available in New York or California
Click below for more information on Wealth Plus.
Secure Wealth Plus Fact Sheet
Market Wealth Plus Fact Sheet
Wealth Plus Introduction
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Pacific Life 2022 Year End Deadlines
Important key dates and deadlines for processing 2022 year-end business.
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Principal Product Update: Term 2020 Reprice - Effective October 3, 2022
We’re excited to announce new premium rates for Principal 10, 15, 20, and 30-Year Term effective October 3, 2022. The new rates are lower at many ages and risk classes. Note that this rate change does not apply to Principal® One-Year Term or Principal® GI Term.
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New Principal Life Insurance Application Available October 1, 2022
Principal's new life insurance application (Part A, B, and C) and supplemental forms, as well as Part B for individual disability insurance, will be available for use effective October 1, 2022. The new application design encompasses many changes to make it more flexible for use with varying types of cases and to align with industry norms.
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Prudential 2022 Year End Deadlines
Important key dates and deadlines for processing 2022 year-end business.
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Mutual of Omaha LTC Planning and Product Training
Join us for a special webinar featuring Mutual of Omaha discussing how agents can position LTC as a retirement planning tool. We will be going over today's LTC changing market with real world statistics, how to start the conversation, tax favorability and more. We'll also do a deep dive comparison on their MutualCare Solutions, so you can see why this should be a go-to product for your prospects! “Extended Care” planning is a critical component of retirement planning. It is important to be proactive with your valued clients to have this conversation.
How to Position LTC as a Retirement Planning Tool
- LTC statistics
- Cost of care and impact to client's family and finances
- Simple 3-Step LTC sales process
- High level review of Traditional LTC Benefits
- The best Riders to offer clients
- Tax favorability
- Underwriting tips
- Q & A
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Join us on Thursday, October 13, 2022
8:30 a.m. PST / 11:30 p.m. EST
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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
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For agent use only - not for use with the general public.
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Corporate License No. 0D87913
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21820 Burbank Blvd., Suite 301
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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.
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