| "Underwriting Corner at ALB" |  | |
Picking the Right Carrier for your Healthy Client
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Don't miss the Non-Medical Wave
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AXA
Are you aware that credits of AXA Equitable's Good Health Credit Program can potentially help clients obtain their first level of Preferred rating?
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Prudential
Pru Extends Shelf Life of Exam Requirements!
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"2011 Tax Reference Guide Now Available"
(If you would like a print copy, please let us know) | | |
CLICK HERE |
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Sales Leaders Summit
2012
The 2012 Sales Leaders Summit meeting will be held at the luxorious St. Regis Monarch Beach Resort in south California in February 2012. | |
| | Independent Producer Brochure |
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DON'T FORGET....
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"Eye Opening Sales Ideas"
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| Tax Reform Gives Premium Financing The "Pilates" Treatment | |
Pilates sessions are famous for increasing physical strength and flexability. The gift tax provisions of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (TRA 2010) have this effect on life insurance premium financing.
As a result, premium financing cases that have the potential to be easier than ever in 2011 and 2012.
Click Here to read more |
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Preliminary Inquiry
This is NOT an application for life insurance. Use this form as a preliminary evaluation to assist in determing insurability only.
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Your Comments
Email your questions and comments to our Marketing Communications Mailbox
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A Message From ----
Mark Milbrod
&
Brian Van Winkle
Estate Planning: An Opportunity or Overhyped?
We have all heard about the estate tax changes the Federal Government made in December. The question a lot of agents are asking is "what does this mean to my clients and me?" The truth is, these changes will allow your clients to move large amounts of money out of their estates, unwind and simplify complicated estate planning techniques used in the past and develop estate plans that will allow them the flexibility to adjust as the estate tax laws adjust. So what's the catch? The catch is that this law is only in effect for two years and then, if congress doesn't act, the federal gift, estate and GST exemptions will revert to $1 million(GST will be indexed for inflation) and the maximum estate tax rate will return to 55%.
I am not here to debate what will or won't happen to the estate tax laws after 2012. I simply want to point out that you and your clients have a fantastic (and limited) opportunity to create or modify their estate plans. So what are some of the most significant opportunities you should look for in your book of business?
1. Clients with estates over $2 million ($1 million if single)Why only $2 milliom if the current exemption is $5 million per person? Why not create an estate plan now, that protects them from the uncertainty of 2013 while still providing them the access to the retirement income they need?
2. Clients with small businesses, significant amounts of property or an FLPWith a $5 million gift exclusion, it is the ideal time to move discounted assets out of your client's estate. If done correctly, these assets may be able to be used to fund the transfer of the remainder of the client's estate as well. They can also be used to help the client equalize the amount each of his/her heirs will receive.
3. Clients who set up private split dollar or private financing agreements Clients set these up to allow them to put larger amounts into their trusts and therefore buy larger life insurance policies to cover their estates. There are 2 potential downsides to these types of arrangements. Many times the trust is forced to pay interest and/or taxes on the money put into the trust. Those payment reduce the money available to purchase life insurance which was what the client was trying to maximize in the 1st place. Second, in some situations, at the death of the client, the trust must repay the loan to the estate thereby increasing the estate and reducing the amount of life insurance proceeds available to pay the taxes. With the current estate tax law changes, we are able to unwind many of these plans, eliminate the additional taxes and interest payments and increase the amount of life insurance, all with little or no cost to the client.
4. Clients with large annuities and/or qualified plans One of the biggest concerns for all Americans right now is that with the rate of spending by the federal government, income taxes are going to increase. This can be devastating for clients and their families with large amounts of tax deferred money. It will both reduce their current income and the amount they can pass on (income with respect to the decedent). Now is the perfect time to help these clients fix this upcoming issue. |
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Effective May 2, 2011, SUL Protector will be repriced and enhanced! *
(*All benefits, riders, and product features may not be available in all states. Additional limitations may apply based on age and underwriting. Some may be available at an additional cost.)
Improvements for the Consumer
- Competitive Premiums
- Minimum Initial Premium (MIP)
What you the Agent needs to know
- Improvements to the No-Lapse Guarantee
- No-Lapse Default Charge (Deficiency Charge)
- Waiver of Surrender Charge Endorsement for Estate Tax Repeal Rider
- Reduced maximum issue age to 85
- Only Type A death benefit option is available
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More Information |
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Product Change
Revisions Individual Protector UL
(The changes will only be for Non-NY and does NOT affect the
SUL product)
Changes will go into effect on May 22, 2011
- Continuous pay premiums to age 100-121 with either remain the same or decrease
- Single Pay and Limited pay will increase between 2-10%
- Guaranteed Interest Rate will change to 2%
- New Underwriting Class - Super Std will be added. The underwriting criteria for this class will be the same as what is being used for term
- Pfd & Super Pfd underwriting criteria remain the same
- Targets remain the same and commissions remain the same
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Survivorship Reprice | |
Reprice is off hold - New rates go into effect April 4th. Deadline for getting applications to Metlife is June 3rd.
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Term Conversion Plus Launches in Additional States
(Term Life Clients May be Able to
Convert at a Better Class)
On May 2, 2011, phase two of the Term Conversion Plus program will launch in Minnesota, Montana, Pennsylvania and Puerto Rico. The program will run until August 1 in these states.
Metlife has launched the Term Conversion Plus program to help producers offer clients a risk class uprade with minimal paperwork and limited underwriting requirements.
Click Here | |
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Athena Universal Life
Launched Monday, April 25, 2011
The No Lapse Guarantee Rider guarantees that the policy will not terminate before a certain date if certain specified amounts of premium are paid and any policy loan plus accrued loan interest do not exceed the Policy Cash Surrender Value.
Optional riders available for an additional charge
- Cash Value Plus Rider
- Long-Term Care Services Rider
- Return of Premium Death Benefit Rider
- Children's Term Insurance Rider
- Option to Purchase Additional Insurance
- Disability Waiver of Monthly Deductions Rider
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Click Here for More Information |
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TOP & TOP Plus Programs
Transamerica Life Insurance Company now offers two accelerated underwriting programs that enable qualifying applicants to receive up to $1 million in coverage. Under the Transamerica Opportunity Program (TOP) and Transamerica Opportunity Program Plus (TOP Plus), individuals who've been fully underwritten for term insurance within the past five years may be eligible for a TransTerm 10, 15, 20, 25 or 30-year policy without a new medical exam.
TOP Program
- Ages 18-60
- Underwritten at STD or better by another carrier
- Within the last 5 years could get up to $500,000 TERM addt'l w/o exams
- Within 3 years, could get up to $750,000
TOP Plus Program
- Ages 18-50
- Underwritten at Pref Plus or similar or STD Plus or similar, by another carrier
- Within last 3 years, could get $750,000 of addt'l TERM coverage
- With 1 year, could get addt'l $1 MM | |
See attached for additional details |
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Underwriting Requirement Niches Equal Easier Medical Exams.......
Extended Use of Exam/Lab Requirements
- Through Age 70 = 12 months
- Through Age 71 -80 = 6 months
- Through Age 81 - 85 = 3 months
Paramedicals vs. MD Exams
- Paramedical exams are now a routine requirement for risk amounts up to and including $10 million at all ages
- MD exams required for face amounts above $10 million for all ages
EKG or Treadmill?
- Treadmill stress test only required for ages 51 - 71 and face amounts greater than $10 million
- An EKG/stress test completed within the past 12 months satisfies current ING Life Companies' requirements
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NLG UL Price Increase effective 6/1/2011
While some carriers have decided to exit the no-lapse guarantee universal life insurance market, Nationwide has continued their commitment to bringing you and your clients a quality product - even in the face of the challenging economic environment.
However, in order to continue offering the same great guarantees, Nationwide YourLife No-Lapse Guarantee UL will introduce a moderate price increase for all new policies effective June 1, 2011.
Despite the increase, YourLife No-Lapse Guarantee will remain a competitive opotion for clients looking for guarantees.
Contact us for more information & transition rules! | |
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Associated Life Brokerage, Inc.
New Website
Click below:
www.associatedlifebrokerage.com | |
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Ask us how to earn an Additional
10% Commission on your first submitted case with us. | | |
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Call today to speak with one of our Case Consultation Specialists for information on these and other sales opportunities and see why ALB is The Business Partner
You've Been Looking For.
Mark Milbrod, CLU
Associated Life Brokerage, Inc.
135 Route 202/206, Suite #7
Bedminster, NJ 07921
info@associatedlifebrokerage.com
(908) 756-9920
Associated Life Brokerage, Inc., is a full service General Agency located in Bedminster, NJ handling your Life Insurance, Annuity, Long Term Care and Disability Income needs. We provide independent insurance agents with a comprehensive platform that includes, Expert Case Consultation, Premier Underwriting Services and a Fully Dedicated Case Management Team. With over 100 years of collective experience in advanced case design and underwriting, we are dedicated to giving you the tools you need to significantly increase your revenue. |
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