Lafayette Life: Introducing Legacy Span!
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Product News
OneAmerica Marketing Material Updates: Asset Care Repricing
Im reaching out to provide you with all the updated versions of marketing materials impacted by our recent changes in Asset Care pricing , in addition to the latest releases in new content and upcoming training opportunities
Producer/Consumer Facing:
Producer Facing PDF Sales Ideas:
- Single Premium Drop-In Rider Sales Idea (I-33456)
- Asset Care Return of Premium Sales Idea (I-33499)
- The SECURE Act Sales Idea (I-33642)
- Qualified Funds Sales Idea (I-33476)
- Use IRA Dollars to Fund Asset Care Sales Idea Sheet (I-33323)
- Asset Care Recurring Premium Sales Idea (I-33498)
- Asset Care Outshines UL Asset-Based LTC Single Life (I-34803)
- Pay Less Get More Sales Idea – NQ Only (I-35026)
- Asset Care Outshines UL Asset-Based LTC Recurring Premium (I-34802)
- Pay Less Get More Sales Idea (I-34889)
- Asset-Care Recurring Premium Rate Sheet (I-32400)
- Asset Care Outshines UL Asset-Based LTC (I-32422)
Producer Facing Presentation:
Banner Life: As of August 1, we will no longer accept the traditional paper Applications
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State Of The Industry: Recent LIMRA Stats!
Click Here To Read The Full Article Now!
Life Insurance in a Time of COVID19
In January 2021, just 52% of consumers reported owning life insurance (e.g., individual,
employer sponsored, etc.), which is down from 63% in 2011.
Overall there are 102 million uninsured and underinsured Americans who know they need
(or need more) life insurance
Forty two percent of Americans say their household would face financial hardship within
six months should a wage earner die unexpectedly 25% would struggle financially
within a month.
COVID 19 has impacted consumers’ perceptions about life insurance. Six in 10
consumers said they had a heightened awareness about the value of life insurance and
31% said they were more likely to buy coverage in 2021 due to the pandemic.
Likelihood to buy life insurance due to COVID 19 is higher for Millennials (45%), Black
Americans (38%), men (33%) and those making over $150,000 per year (42%).
Of those who tested positive for COVID 19, 42% say there are likely to purchase life
insurance in 2021.
Black Americans and Life Insurance
The majority of Black Americans (56%) own life insurance, up three percentage points
from 2020.
Among Black Americans who own life insurance, two thirds say the primary reason they
own it is to cover burial costs and final expenses, significantly higher than the overall
population (48%).
Black Americans are more likely than the overall population to say they use social media
as a source of financial information. The top three sites used are Facebook (34%),
YouTube (30%) and Instagram (20%).
Black Americans turn to financial advisors at the same rate as the overall population
(43%). However, Black Americans are more likely than the general population to be
looking to engage a financial professional (30% versus 25%).
More than half of Black life insurance owners (51%) wish they’d purchased their policy at
a younger age.
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AIG: Make a splash with increased commission and NEW Select-a-Term rates!
| This summer, make a splash with increased commission and NEW Select-a-Term rates!
We have increased the street level commission on the 10 Year Select-a-Term! To confirm your commission schedule please log into Connext and find your schedule, under Contracting & Commissions, and Agent Lookup. Also effective May 23, 2022 there will be premium rate changes in all states except New York, where rates will remain the same. Dive into the Select-a-Term difference. |
| Pricing: Lowest monthly rates of any of our competitors in over 50% of cells $250K-$500K, and 70% of cells $500K and above. |
| Faster Decisions: Agile Underwriting+ (AU+) is available for term. |
| Flexibility: Full convertibility to a permanent life insurance policy up to the end of the level-premium period, or until the insured reaches age 70 (whichever comes first) without additional underwriting.
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| Beat the heat with Select-a-Term | |
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Securian: All Things Going Digital!
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Lincoln: Discontinuation of New Sales of Lincoln LifeGuarantee® UL (2019) and Lincoln LifeGuarantee® SUL (2019)
Discontinuation of New Sales of Lincoln LifeGuarantee® UL (2019) and Lincoln LifeGuarantee® SUL (2019)
Lincoln is committed to providing our financial professionals and clients with a comprehensive suite of relevant life insurance products to address a broad range of planning goals, while balancing consumer value with the prudent financial standards of our business.
After careful consideration, Lincoln has made the decision to discontinue new sales of Lincoln LifeGuarantee® UL (2019) and Lincoln LifeGuarantee® SUL (2019) (Survivorship UL), which accounted for just 1% of all Lincoln Life sales in 2021. These changes are effective in all states, June 10, 2022. The changes do not impact inforce policyholders.
Lincoln continues to offer a full suite of life insurance solutions, including Term, Indexed Universal Life, Variable Universal Life, long-term care funding solutions and Executive Benefit products.
Submission Deadline
▪ All applications for the products listed above must be received in-good-order at Lincoln by June 10, 2022.
▪ As of May 16, 2022, Lincoln DesignItSM and WinFlex will be updated to reflect a warning message regarding the submission deadline of June 10, 2022.
▪ As of June 10, 2022, Lincoln DesignItSM and WinFlex will be updated to no longer allow illustrations of the impacted products.
▪ Revised illustrations for pipeline cases can be obtained by contacting your Lincoln wholesaler.
Please review these Frequently Asked Questions for additional information on the closing of new sales.
