It’s widely acknowledged that Americans are currently in a period of historically low income tax rates and those rates are likely to increase in the future. The right life insurance policy designed to maximize the accumulation of cash for retirement is a fantastic way to take advantage of low tax rates in the present and hedge against potential future tax rate increases. A properly designed life insurance policy can offer tax-deferred growth and tax free withdrawals with no contribution or income limitations.
Using life insurance in retirement planning is a long term commitment, so choosing the right policy for your clients is critical. Financial Brokerage is proud to partner with North American Company to market the brand new Builder Plus IUL. Join us for an exclusive webinar on July 24th to learn more about why your clients should consider using life insurance in their retirement planning and why the Builder Plus IUL is one of the most consumer-friendly products on the market.
P.S. We’ll also be offering a brand new exclusive client seminar toolkit to those who register for the webinar at no cost!
VLOG Episode 10 – Laddering Life Insurance
(view on our youtube channel)
Presented by Brian Leising on ProducersWeb.com,
I’d like to help you close more life insurance sales by showing how an income stream death benefit can help your clients save money and better understand how their coverage works. We will explore the problem, present a money-saving solution and work to simplify it all for our clients.
Upcoming Changes to Our Life Portfolio
Our industry has faced many challenges over the past several years – from persistently low interest rates to changing industry regulations. This environment significantly impacts how we are able to price our life insurance products, especially those with no-lapse guarantees, while still maintaining a profitable business model so that we can be there when customers need us most. As a result, effective October 1 we will be making adjustments to our GUL product pricing. At the same time, we will also be enhancing our Guaranteed Refund Option (GRO) Rider maximum refund cap as a way for you to offer additional value for your clients. The GRO Rider enhancement will also be included on our Income AdvantageSM IUL, which was introduced earlier this year.
Below is a summary of the changes that will take effect October 1:
GUL and GUL Plus – Pricing Adjustments:
* Although premiums will increase by an average of 8-10 percent on GUL and approximately 5 percent on GUL Plus single pays, we will still offer a product that provides exceptional value for your clients looking for a fully guaranteed product solution
* Our GUL products continue to offer more flexibility than any other GUL in the marketplace, with features such as our Accelerated Death Benefit Riders and our GRO Rider on qualifying policies – both included at no additional cost. This flexibility is showcased in our new ‘What If’ illustration report, introduced in August
GRO Rider Enhancement – Maximum Refund Cap Increase
* The maximum refund cap for our GRO Rider will be raised from 35 percent to 50 percent of the specified face amount
* This enhancement will affect the following products: GUL, GUL Plus, GUL Survivor, and Income Advantage IUL
In recent months, we have also seen a number of carriers announcing changes to Cost of Insurance (COI) charges on their in-force current assumption policies. I want to reassure you that Mutual of Omaha currently has no plans to raise the COI charges on our existing policies. While these charges can contractually increase, we do not believe that it is in the best interest of our policyholders or agents at this time. If you have any questions regarding this information, please contact your Sales Director or Account Executive. We appreciate your continued support and are looking forward to a strong finish for 2016.
John Hancock has lowered new term rates.
To view more details, click here.