Bulletins

Transamerica – TransWeekly Newsletter for June 2, 2016

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Forms
Trust Certification and Trustee Powers Form Update As of May 20, 2016, the Trust Certification and Trustee Powers forms have been consolidated into one new form and will replace all previous versions on all the essential websites. The new form number is TRSTFM 1014.
There will be a 30-day transition period. The previous Trust forms will be accepted by new business if received on or before June 19, 2016. The new form will be required on all applications signed after June 19, 2016.
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Product Development & Management
Trendsetter Express Replaced by Trendsetter® LB in MA Effective June 24, 2016, Trendsetter LB will be approved in Massachusetts. With this approval, Trendsetter Express will no longer be available for sale in Massachusetts.
All Trendsetter Express applications must be signed, dated and received in good order in the Cedar Rapids administrative office no later than June 24, 2016, in order to be accepted.
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Business Forms
Here is the most recent Transamerica Forms Update document, which can also be found on theTransACT home page, under the Now Available section.
Bulletins

State Life – Noteworthy News

Asset-Care Base Premium Rates Changing July 1, 2016
As an industry leader, OneAmerica  is committed to maintaining a rational and sustainable approach in managing the Care Solutions product line for the long term.  It is imperative that we make responsible decisions to ensure our products remain priced appropriately to continue to meet the needs of the consumer as well as our distribution partners.  In response to the current and recent interest rate environment, we are increasing the base premium rates* for Asset-Care as of July 1, 2016. Products affected include Asset-Care I, Asset-Care II/III (life policy) and Asset-Care IV. This change only impacts new business.  All existing in-force policies are not affected, as all premiums are contractually guaranteed to remain unchanged for the life of the policy.
The guarantees provided by Care Solutions will remain unchanged:
  • All premiums are contractually guaranteed.
  • All products and options will continue to be available.
  • No adjustments are being made to issue ages.
  • No changes are being made to producer compensation rates.
Transition rules:
* All business submitted/received no later than Thursday, June 30 and fully funded no later than Wednesday, August 31 may use the pre-July 1 rates.
* All other new business will receive the new July 1 rates going forward
Life Insurance

Take the Financial Brokerage Life Insurance Sales Challenge!

What do I do?
  • Indicate your interest by posting your response (“yes” or “count me in” or “I’ll do it”) in the monthly challenge blog
  • Talk to 10 clients or potential clients about the tax advantages of permanent life insurance policies
  • Post your conversation results, questions and success stories here
  • Submit index universal and whole life insurance applications
 
 
What do I get?
  • Weekly sales ideas on how permanent life insurance policies can provide tax-free income
  • Weekly webinars designed to help you sell index universal life insurance
  • Double Success Shares for all IUL applications (through all carriers) submitted in the month of June.
  • Double Success Shares for all whole life applications (through SBLI and MetLife) submitted in the month of June.