Advisors Blog

MORE Important Changes to Pricing and Underwriting

Published on April 30, 2020


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Symetra GUL Price Increase

Symetra is repricing their UL-G product effective 5/1. To lock in the current low pricing, all formal applications must be received at Symetra's home office in good order by this date, to receive current rates.


OneAmerica LTC Age Restrictions

These guidelines apply to all applications dated on 5/1 or later. For ages 70 and above, the limitations are:

  • Only single pay is allowed.
  • COB must also be single pay.
  • Annuity-Funded Whole Life and Asset Care 2 & 3 remain available.
  • The full suite of Annuity Care products remains available (COB pay periods remain as they are today on annuities).
  • No rated cases allowed.
  • Suspension of Asset Care Recurring Premium Whole Life, Asset Care 4 and Asset Care with ROP.

New Program and Incentives for Diabetics

Reasonably priced life insurance is readily obtainable for diabetics with good control. John Hancock has expanded their popular Vitality wellness program to include additional benefits for Type II diabetics. Their new Aspire program can help Type II diabetics manage their condition by controlling and monitoring diet, weight, exercise and lifestyle while at the same time offering substantial discounts for life insurance.

Now, more than ever, it is important to provide your

clients support to manage their diabetes when and where they want it – without going into a doctor’s office. By registering for Onduo, your clients have access to:

  • Personal health coaches, certified diabetes educators and doctors.
  • Resources to help keep their numbers in check and feel their best.
  • Blood glucose meter and test strips.
  • Glucose data – tracked right from their phone.

Your clients with Type II diabetes benefit from an Onduo membership - and now, so do you. Each time one of your eligible clients register for Onduo, John Hancock will pay you an additional $200. Click below for more details.


New Universal Life Product Available

Protective recently launched Lifetime Assurance UL, a new universal product that features:

  • Low cost level premium GUL to age 121.
  • ROP feature at end of year 10 25% of premiums paid no window to access.

New 35 and 40-Year Term Available

Protective has opened up their popular Classic Choice Term product to 35 and 40-year term length which features the same great benefits and options to add additional coverage such as an Accidental Death Benefit rider, Waiver of Premium, Terminal Illness and more. Click below for more information.


Planning for Tax Efficiency During These Uncertain Times

We recognize your clients may be uncertain about managing their retirement assets during this period of economic and market volatility. Trying to plan for tax efficiency on top of that can add unneeded stress. Use the attached Section 7702 tax flyer with your clients to discuss the changing tax rates and positioning their retirement types of tax buckets:

  • Tax-deferred accounts.
  • Taxable holdings.
  • Those generating tax-free income at retirement.



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 CA License No. 0D87913


21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. do 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.

© 2020 Arthur J. Gallagher & Co. 




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