October 13, 2016
4 Steps to Succession Planning 
What You Need to Know 

In today's industries, progress is the heartbeat to an inevitable cycle of change and the advisory business carries no exception. As successful advisory practices continue to evolve, it is becoming necessary to undertake a succession plan that suits your clients'
needs.  Whether you are ready to hand over the keys or you are thinking about a succession plan, consider four of these best practices to creating a smooth transition for your clients and organizing an effective plan.

1. Create a list of goals. 
2. Maintain Consistency. 
3. Establish Some Familiarity. 
4. Communicate the Outcome.  

Prudential Limits on GUL and SGUL
Deadline Coming Soon
Pru Logo

Prudential recently announced plans to restrict allowable face amounts on PruLifeŽ UL Protector and PruLifeŽ SUL Protector. Beginning October 24th, Prudential will update the following: 

- UL Protector policies with combined face amounts on each insured greater than $5 million will not be available. 

- SUL Protector policies with combined face amounts on insureds greater than $10 million will not be available. 

Applications for higher face amounts must be submitted before the October 28th deadline with illustrations produced no later than Sunday, October 23rd.

A New Age of Life Insurance
How to Target Millennials

Being the nation's largest generation, millennials are becoming an abundant resource for  advisors to expand their insurance and financial services. Research shows that now more than ever millennials are financially savvy and may simply lack solid information about
insurance and other financial-planning options.

By welcoming a new generation of clients, you can give yourself the opportunity to grow your practice for decades. However in aiming to work with multiple generations, advisors need to be aware of the millennial outlook and keep an open mind. 

Rate Changes from Nationwide
Mark Your Calendars                                                                         

Effective November 7th, Nationwide will be changing the pricing of their Nationwide YourLife ŽNo-Lapse Guarantee UL (NLG-UL). 

For new business with a specified amount of $1 million (Lifetime NLG), you can expect the following three rate changes: 

1. Level Pays: 
  • Ages 55-75: 0% - 10% increase (declining to 0% as the age nears 75)
  • Younger than age 55: 10% or more increase.
2. 10 Pays
  • Ages 55-75: up to 5% increase
  • Younger than age 55: up to 10% increase
3. Single Pays 
  • 8-10% increase across all ages
** Note that on November 4th the illustration software will update with the new rates and will require case designs to be illustrated with a minimum no-lapse guarantee duration of at least age 95. 

For Free

The TBA Mobile App was designed to give advisors the ability to be more efficient while away from the desk. This app has all of the tools needed to create sales as well as process paperwork more efficiently. It can be downloaded on your phone or tablet. It is available for download for free from the app stores of appleandroid and kindle.
Available Tools Include:
  • Instant Term Quotes 
  • Online Application 
  • Needs Analysis
  • Licensing 
  • Direct Dial TBA Employees
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