According to the 2021 Insurance Barometer Study from Life Happens and LIMRA, the Coronavirus pandemic has driven an increase in life insurance purchase intent, with 31% of consumers more likely to buy life insurance due to COVID-19. ¹ The impact is even greater among distinct audiences, with the likelihood of buying increasing to 45% among millennials and 42% among respondents who have household incomes of $150K or more.¹

This changing mindset seems to indicate that consumers are thinking of additional ways to protect themselves and their families and that life insurance has become more of a priority relative to other financial concerns.

Add to this that consumers might be looking for an easy way to purchase life insurance without the hassle of a medical exam. This is the perfect opportunity for many consumers to consider a simplified issue/instant decision policy, which eliminates the need for a medical exam and can help an individual obtain a policy relatively fast.

Gerber Life has an array of whole life insurance products especially suited to meet this need.  One such product is Gerber Life Whole Life Insurance, which provides an easy application process and the opportunity for simplified underwriting and quick decisions in certain cases.²

Gerber Life Whole Life Insurance is available to applicants ages 18 to 70 years old, who are either U. S. Citizens or permanent legal residents. It also offers:

• Competitively priced and guaranteed premiums³
• Guaranteed death benefit and cash value growth³
• $50,000 to $1,000,000 in permanent life insurance protection (minimum of $101,000 for age 50 and above)
• An array of Rider options for enhanced protection

To learn more about the impact of COVID-19 on life insurance purchase trends and to access an array of videos, fact sheets, and other featured content from LIMRA, click the following link for more information:

Offer physicians and residents the income protection they need

Whether physicians are just starting out as a resident or they’re established, we’ve got underwriting programs designed to help them get the individual disability income (DI) insurance protection they need:

• Increased select professional monthly limits for residents: $7,500 for all M.D. and D.O. physicians and specialists within 180 days of completing residency, internship, or fellowship (except psychiatrists and podiatrists)
• High monthly limits for established physicians or graduating residents with contracts: up to $30,000 for 4A-M/5A-M/6A-M occupation classes
• New 10% discount for OB-GYNs and pediatricians (except in New York and Ohio)
• Graduating resident program (available Jan. 1 through Sept. 30 of their graduating year):
  • 20% discount
  • No routine labs for any amounts except for cause

Get started with Principal^® Individual Disability Insurance

At Gerber Life, we’re committed to helping agents save time and be more productive. With that in mind, a Gerber Life Whole Life policy is easy for you to sell and simple for your clients to buy. It can give your clients the benefit of permanent lifetime insurance protection and the peace of mind they deserve.

Gerber Life Whole Life offers U.S. Citizens and permanent legal residents, from 18 to 70, up to $1,000,000 in death benefit protection that can help your clients protect their loved ones should the unexpected happen.

With Gerber Life Whole Life, the underwriting process is fast and easy:

Simplified and Full Underwriting are available based on age and coverage amounts. Review our Whole Life underwriting guidelines here

Decisions are generally made within a minute1 for most applicants who qualify for Simplified Underwriting and submit a digital or telephone application

A simple Paramed process that includes a brief medical exam is required for Full Underwriting, which is at no cost to the applicant. To access a consumer flyer about our Paramed process, click here

Enjoy an easy sales process with your clients and be the hero they need.

GTL’s Heritage Plan applications now have updated underwriting questions. This change is currently available on the Agent Portal.
The e-App update will be available soon.

Previous applications will no longer
be accepted as of Friday, 5/14/21.

I’m excited to share with you the OFFICIAL word on the COIVD underwriting restrictions being lifted TODAY!

If there are any postponed cases you’d like us to revisit, please let us know.

You will also find a note that is important if you are an Ensight user. It seems like more and more are starting to use this software

Important IUL illustration tip for Ensight software users:

More and more firms are utilizing Ensight for their illustrations and it is proving to be a great tool to simplify illustrations – especially for multiple carriers.  One thing that AIG needs our partners to understand is that Ensight’s default index selection for all carriers is S&P 500 (specifically our S&P 500 High Cap).  This isn’t the most competitive option for AIG, and depending on which IUL is being illustrated, you’re giving up .55-.70 BPS of persistency bonus in years 6+!  If your office is utilizing Ensight I would suggest:

• Changing to the carrier default in Winflex (will show all carriers in their best light),
• Change AIG to the MLSB in the product options tab, or
• Set up a custom illustration template so that all carriers are being run at your preferred specs.

Own the outcome with tax management

As your clients plan for 2021 taxes, give them the confidence to reach their retirement income goals using life insurance. With tax regulation continuing to change, it’s important that your clients are building a diverse tax management plan. Help them understand how taxes impact the money they invest in the different options and the distributions they receive from those sources:
• Tax worksheet: Help your clients keep more of what they earned
• Client guide: Retirement planning using cash value life insurance
• Tax article: President Biden’s Phase I Tax Proposals for Businesses

NEW Fidelity AIM® Dividend Indexed Account added to the Lincoln IUL suite

For your clients who have concerns about market volatility, but still want strong growth potential for their protection or retirement planning needs, the new Fidelity AIM Dividend Indexed Account Fixed Bonus offers:
• A high participation rate
• No cap and a 0% floor to maximize growth but protect from market loss
• A fixed bonus that provides guaranteed growth regardless of market performance

If your clients need protection with growth opportunity for living benefit needs like supplemental retirement income, show them our competitively priced
Lincoln WealthAccumulate® 2 IUL.
RESOURCE CENTER

If your clients need to protect their loved ones, retirement and/or business, Lincoln WealthPreserve® 2 IUL can provide the financial security they need. See how.

Celebrate small businesses this month

This month we honor the 30+ million small businesses in our country — and the amazing people who run them. You can help your business owner clients by bringing life solutions into your conversations. This is a great way to build on your relationships and introduce new products to your clients. Use these client resources to start a conversation with a business owner.
SMALL BUSINESS MONTH RESOURCES

Hear from your Lincoln partners across the organization about solutions for your small business clients and our outlook for 2021.

COVID-19 Temporary Underwriting Guidelines Revised

Effective May 10, 2021, Lincoln’s COVID-19 temporary underwriting guidelines have been modified, including:
• The Table Reduction Program (TRP) is now available! Consideration for up to $10 million maximum face amount, through age 70, for Table 3 to Standard rate classes
• Internal Retention Limits have been increased up to $20 million for permanent life insurance products
• Substandard ratings, up to Table 4, will be considered for all ages through 80
READ MORE DETAILS

Get Ready for PL Promise’s New Accelerated Underwriting

On May 17, 2021, embark on a new underwriting journey with PL Swift Sailing accelerated underwriting! Offer clients ages 18-60 up to $2 million in coverage with quicker decisions and streamlined digital process that can help provide an improved customer experience. Use this Prequalifying Checklist to identify clients that may be a good fit.

Ready to Gain New Life Insurance Prospects?

What do videos, success stories, and quizzes have in common? These clever tactics could be the key to generating new leads that could be converted into new policyholders! Learn more in the latest Broad Market Insights.

It’s Grant Time Again!

Applications are being accepted for the Pacific Life Foundation Partner Involvement Grant Program—open to contracted Pacific Life producers. Ten grant recipients will be selected with $5,000 awarded to each chosen charity. Deadline is May 31, 2021. This is a great way to maximize marketing efforts with your producers!