Source Brokerage Inc. - News & Updates

August 2015 

  

 

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 Life/LTC

Linked Products

  

Per LIMRA, stand-alone LTC plans have lost market share.  The Life/LTC linked hybrid products have gained traction, and it's not hard to see why.

 

With stand-alone LTC plans it's very possible to pay a lot of money in premiums but never receive a benefit.

 

But, with a Life/LTC hybrid product you know either the insured or the beneficiary will receive either LTC benefits if needed, a return of premiums via ROP features, or a higher death benefit.

 

We have these Life/LTC products available with Lincoln, OneAmerica, and Genworth.

 

Call us for a quote!

 

 Which Carriers Are Fastest & Slowest?

  

We're experiencing very slow turn-around service from some of the carriers.  For example, United of Omaha and Transamerica are running three weeks behind. 

 

Here's a list of our primary carriers from Normal to Horrible turn-around time.

 

NORMAL

 

Protective

Genworth

Prudential

Lincoln

North American

American National

United of Omaha

Transamerica

 

HORRIBLE!

 

 Afterwords

  

Change is the law of life.  And those who look only to the past or present are certain to miss the future.

- John F. Kennedy 

 

The only way to make sense out of change is to plunge into it, move with it, and join the dance.

- Alan Watts 

 

If you do not change direction, you may end up where you are heading.

- Lao Tzu 

 

To improve is to change; to be perfect is to change often.

- Winston Churchill 

 

Progress is impossible without change, and those who cannot change their minds cannot change anything.

- George Bernard Shaw 

 

Logical consequences are the scarecrows of fools and the beacons of wise men.

- Thomas Huxley

 

                   

With the advent of a Return of Premium option on some guaranteed UL policies, your clients may benefit by splitting their coverage up into two or more policies.  See our sales tip in the last section below for details.

Life Plans  

 

Please see the following Lincoln Financial updates:

  • Lincoln has introduced a new life application that is shorter and easier.  It can be used at this time, although Lincoln will accept the old version until Oct. 9th.  Please throw away all of your existing supplies and delete the existing versions from your computer hard-drive. Lincoln National
  • Lincoln has new term rates effective today.
  • Lincoln has also started using a new Electronic Inspection platform to verify customer application information.  The result has been faster turn-around and less intrusion into customer's lives as this electronic inspection platform has eliminated the need for telephone interviews in most cases.

Request a quote online, call Julie at ext. 233 for term quotes, or Jeff at ext. 225 for UL quotes or impaired risk quotes. 

   

Annuity Plans  

 

Check out these sizzlin' specials with North American!

  • MYGA rates as high as 3.3% (10yr), 3.2% (9 yr), 2.85% (7 yr) and 2.70% (5 yr) NACOLAH
  • Introduction of a 3 year MYGA or a limited time only - rates as high as 1.8% for the $200K+ band.
  • An additional 1% commission bonus on BenefitChoice for cases issued through December 31st
  • An additional 2% premium bonus on RetireChoice means your client can now get up to a 10% premium bonus for cases issued through September 30th.

Trying to determine which product is best for a given client can be like sitting down to Thanksgiving Dinner - it's tough deciding where to start.  Our simple solution is (1) tell us what your client would like to accomplish, and (2) the time frame in which they want to accomplish it.  We can then make the proper recommendation for the right product to meet their stated goals.

 

Our MYGA annuity rate pod is updated daily.  Contact Julie at ext. 233 for quotes and forms. 

   

Disability Income

                         Standard Life

New Owner - Same Great Product!  Standard Insurance announced it has been acquired b Meiji Yasuda, the oldest and third largest life insurance company in Japan.  Standard will be the U.S. arm of operations.  Its operations, headquarters, management team, distribution channels, product mix, purpose and values all remain the same - business as usual!

 

Look for a roll-out of Standard's new and improved individual D.I. product, Protector Platinum, in the first quarter of 2016.

 

Contact Steve Crowe at ext. 222, Ellen Crowe at ext. 223, Brian Hettmansperger at ext. 230 or Chris Bussey at ext. 220 for more information, or for quotes, tools and sales strategies.  Also, try our online quote request tool. 

 

Sales TipSalesTip

                        

It's not uncommon for people to decrease their life insurance coverage as they get older.  With the introduction of United of Omaha's Return of Premium option on their guaranteed UL plan, your clients that may decrease their coverage in latter years can benefit by splitting their coverage into two or more policies from the get-go.  Here's an example: MOO

 

A M-45 has a current need for a $5 million GUL policy.  He can purchase one policy with guarantees to age 100, or he could choose to spread the coverage into two policies:

  • $3 million, annual premium $25,839
  • $2 million, annual premium $17,226

The cost is the same for one policy, or for two separate policies.  But, here's the difference.  In year 20 he realizes he doesn't need as much coverage.  He surrenders his $2 million policy for 100% of premiums paid for - he gets a tax-free check for $344,520.  He can pocket those funds, or use $299,500 to fully fund the remaining years of his $3 million policy (and still pocket the difference).  This also allows him to stop the $25,839 annual premiums on the $3 million policy, freeing up additional cash flow.

 

The ROP feature on United of Omaha's GUL policy is built-in and guaranteed.  Contact Jeff at ext. 225 with questions or request a quote.

  
Thank you for your time and interest!
  
Jeff Darnell
Source Brokerage, Inc.
9535 E. 59th Street, Suite C
Indianapolis, IN  46216
(800)543-7167 ext. 225
(317)803-3370 fax
  
 
 
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