Be “that guy” at the party

Presented by David Corwin I should say “that financial professional” to cover the women who work in this wonderful profession too. What do I mean by being that guy or professional is to know your stuff, or at least enough to impress; not gloat or brag, but just know a few things to catch their attention. What will happen is that you’ll be able to secure an appointment with them and that will of course lead to a sale. Let’s start with a few key items that I would know: IRA’s – Know that contribution limit of $5,500 and over 50 years old they can put in $6,500. Also, know that they are generally speaking deductible against your taxes; albeit they aren’t really that popular though, but they don’t necessarily need to know that at this present moment. They just need to know that you know your stuff. Roth IRA’s – Same as above, but the main difference is “tax free” at retirement. I would repeat that a few times to drive the point home. SEP IRA’s – Getting a little more advanced here. That would be a card that I’d throw out when you’re among business owners and professionals. Know that the contribution limit is 25% of one’s income or $53,000, whichever is less. Still deductible and pretty popular amongst your smaller employers out there. A lot of dentists, real estate agents, chiropractors and the like have these. 401k – Even though you may lack the ability of writing these (I will tell you that you most certainly can); you want to know about them. Know that they have a contribution limit of $18,000 and that they are deductible to the employee. In summary, I will tell you that this wasn’t intended to be a really detailed blog, but rather just give you some talking points to be engaging enough to make someone want to see what you can do for them.

Annuity

Lincoln Financial Group – Fixed Annuity Rates Update

Please review the current rates for December 1, 2015

Fixed annuity rates are effective 12/1/15. Applications received on or after 12/1/15 will use the rates below.

Rate notices

National New York

Rate lock procedures

For specific rate lock procedures, visit LFD.com or click here.

Note: Indexed annuities are issued four times a month, on the 1st, 8th, 15th, and 22nd. Interest is not credited between the date premium is received and the date the policy is issued.

Illustrations can be obtained through Lincoln Annuity Illustration Platform (ForeSight) or by contacting the Fixed Annuity sales desk.

State approvals For specific product approval listings, visit LFD.com or click here.

Bulletins

Transamerica – Upcoming Convention and TransWeekly Newsletters

Upcoming Convention and TransWeekly Newsletters Transamerica and Transamerica Family Markets has issued the following communications.* Transamerica Family Markets 2016 ConventionTransWeekly for November 25, 2015

FOREIGN NATIONALS IUL May Be a Smart Solution for Foreign Nationals Index Universal Life (IUL) insurance can be an attractive option to meet client needs because some IUL policies offer index interest crediting based on a diverse mix of market indexes, including global indexes. The versatility of the policies can make them a smart solution for Foreign Nationals. Check out Transamerica Sales Leader Laura Morrison’s LifeHealthPro article on why this type of policy is a strategy both U.S. and Foreign National clients might want to explore.

COMPLIANCE UT: Updated Written Disclosures for Non-Commission Compensation Utah has updated its written disclosure requirements for non-commission compensation connected to obtaining, placing or servicing an insurance policy. Examples of non-commission compensation would be gifts, sales conference trips, stock options, etc. The updated requirements include: * The signature of the insured or prospective insured acknowledging the non-commission compensation; * The amount of any known non-commission compensation; * The type and amount, if known, of any potential and contingent non-commission compensation; and * The existence and source of any other compensation. This information must be provided to the insured or prospective insured prior to the performance of the service. CA Agents: Minimum Type Size for ‘Insurance’ in Marketing Collateral California law now requires that the word “insurance” appear in type face no smaller than a 12-point font on business cards, price quotes and advertisements. If the smallest telephone number on these items is larger than a 12-point font, then it must be equal to that. All agents doing business exclusively in California must comply with this regulation.

OPERATIONS Year-End and 2016 Commission Closing & Statement Mailing Dates – AMB 3964 To view important 2015 year-end dates, and 2016 commission closing and EFT payment/check mailing dates, click here or go to TransACT and click Sales Tools, then select the Agency Managers’ and Compliance Bulletins link under Resources and check “View All.”

TransWeekly for December 2, 2015

FIELD EDUCATION Continuing Education to be Discontinued Beginning January 1, 2016, the Continuing Education (CE) Program will be discontinued. Agencies and producers who want to get certified as instructors and present CE courses will need to work with another CE provider. Scheduled CE courses will continue as planned through December 31, 2015.

OPERATIONS Office Closure December 11 The Cedar Rapids Customer Service Center, along with Contract, Licensing and Compensation, will close at 4:30 p.m. CT on Friday, December 11, due to a company-sponsored employee event. TransACT and My Transamerica will be available to obtain information on policies. Transamerica regrets any inconvenience this closure may cause and appreciate your business. Year-End and 2016 Commission Closing & EFT Payment/Check Mailing Dates – AMB 3964 To view important 2015 year-end dates, and 2016 commission closing and EFT payment/check mailing dates, click here or go to TransACT and click Sales Tools, then select the Agency Managers’ and Compliance Bulletins link under Resources and check “View All.”