Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of October 3, 2022

Published on October 06, 2022


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5 Year Effective Yield of 4.90%

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.

Click below for more information on Mass Mutual Ascend SecureGain 5.

Product Guide

Consumer Brochure

State Chart




AIG 2022 Year End Deadlines

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


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. 


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%.


John Hancock 2022 Year End Deadlines

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


Nationwide 2022 Year End Deadlines

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


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


Pacific Life 2022 Year End Deadlines

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


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.


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.


Prudential 2022 Year End Deadlines

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




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

Join us on Thursday, October 13, 2022

8:30 a.m. PST / 11:30 p.m. 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. 




You Don’t Want to Miss This HOT Rate!

October 24, 2022, Global Atlantic's rates will increase on SecureFore 3 & 7 fixed annuities and ForeAccumulation II fixed index annuities. 


New Fixed and Index Annuity Rates are on the Rise!

2022 has proven to be a challenging year for traditional asset classes, with Equities and Fixed Income both down YTD. Concurrently, pricing on annuity solutions has improved significantly in 2022, leading to increased consumer interest and sales.


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