Advisors Blog

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

Published on November 03, 2022


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Discontinuation of Term Life Insurance Sales- Effective December 1, 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.

American National will continue to process all Signature Term Life Insurance applications received prior to 12/1/2022 and will continue to offer the highest level of customer service to all existing Signature Term Life Insurance policyholders and agents.

 Additional Details 

  • 11/30/2022: Last day to run an illustration or term quote in ExpertOffice
  • 11/30/2022: Last day to apply for a Signature Term Life application
  • 2/28/2023: Last day to put a Signature Term Life policy inforce
  • This discontinuation will not affect any renewal commissions on any existing term policies.
  • This discontinuation will not affect any conversion privileges on existing term policies.
  • This discontinuation will not affect the reinstatement privileges on existing term policies

Use the Flex Complete Process to Achieve Your Year-End Goals

The flex complete process in iPipeline iGO can help you close cases faster and get paid sooner. See how this streamlined submission method can help increase your sales efficiency as you work towards achieving your year-end goals.  


Limited Time Only – Couples Discount Expanded to All Lincoln MoneyGuard® Products - Special Underwriting Program lowers rates and increases value through Dec. 30

Lincoln is excited to announce that effective Oct. 24, 2022, all eligible standard Lincoln MoneyGuard® cases will now receive the Couples Discount underwriting class, regardless of marital status, until Dec. 30, 2022. Lincoln MoneyGuard is a life insurance solution with long-term care rider(s), and this enhanced underwriting program improves pricing up to 17% and increases value.


MassMutual’s 2023 estimated dividend payout announced

Mass Mutual announced an estimated 2023 dividend payout of $1.9 billion — the highest payout in the company’s 171-year history.

For additional information about the 2023 dividend announcement:  

Financial Professional resources: 

Client-approved resources: 

This may be a good time to evaluate clients’ financial strategies to see how dividends could impact their insurance planning.


Low Cost E&O Coverage for Advisors  

For agents looking for Errors and Omissions (E&O) coverage, GBS is able to make available a low cost policy in conjunction with Gallagher and NAILBA. See attached flyer for details. Be sure to use the NAILBA referral code to claim your discount on the website shown.


November is LTC Awareness Month  

We're dedicated to making it easier for you to promote the benefits of LTC to your clients. Nationwide has created a variety of promotional tools and materials designed to help you continue the conversation all month long. Access your marketing asset guide below to help promote and prepare for meaningful client conversations about long-term care. Post the ready-to-use social media graphics to your social feed to drive inquiries about LTC sales opportunities from your contacts.


Coming Soon: Prudential FlexGuard® Life IVUL Effective November 14, 2022

Prudential will be introducing a new Index VUL product called FlexGuard Life indexed variable universal life (IVUL)—available on November 14, 2022*

FlexGuard Life offers clients a combination of:

  • PROTECTION - Life insurance death benefit protection with guaranteed duration options.
  • GROWTH - Multiple ways to grow cash values, including our unique index strategies that offer levels of downside protection.**
  • ACCESS - Ability to access cash value with living benefits clients can use in the event of chronic or terminal illness.

Important features include:

  • A built-in 5-year No-Lapse death benefit guarantee with options to extend the duration for an additional cost.
  • Options to grow cash values—including innovative buffered index strategies.
  • A variety of ways to further custom-craft the policy, including the popular BenefitAccess Rider, and Overloan Protection Rider.

Competitive Underwriting for Tobacco and Recreational Marijuana Use 

Securian offers competitive underwriting decisions for recreational marijuana, tobacco and non-combustible tobacco use through various underwriting initiatives.




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 24, 2022

We have good news for couples seeking additional value and greater choice in their life insurance protection. Now you can offer them two new riders on Protection SUL and Protection SIUL.


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