Thanks for Joining! AIN Events: Whole Life Through the Lens of a UL Believer

Thanks to all who joined us for the recent three-part series, Whole Life Through the Lens of a UL Believer with Bobby Samuelson, sponsored by MassMutual and New York Life! This was one of the highest attended and rated events in AIN history!

For those of you who happened to miss the broadcasts, not to worry! You can find the recordings for all three sessions below, just as many of your peers across the Membership already have.

More on the Series…

Given that today’s regulatory and market conditions strongly favor Whole Life from a policy performance and value proposition perspective, we know that now is the right time to close this gap and become an expert.

In this three-part series, Bobby Samuelson, Executive Editor of The Life Product Review, dives into ways you can sharpen your skills when it comes to discussing, illustrating, and positioning Whole Life with advisors.

Check out the recordings of the three-part series below to learn more about how you can become a Whole Life expert through enlisting the help of an independent third party, using products you are comfortable with as the foundation for understanding Whole Life, and focusing on mastering the category before investigating the current products on a deeper level.

ProdMod: Sagicor Announced New Interest Crediting Strategies Linked to iShares ETFs

FROM SAGICOR…

Sagicor is excited to announce our partnership with BlackRock, the world’s largest asset manager and exchange traded funds (ETF) provider, effective October 1, 2022. You can now offer your clients interest crediting strategies linked to iShares ETFs — with no downside market risk. These strategies, which replace our current global multi-index strategy, offer greater flexibility and diversification, all backed by the strength and reputation of BlackRock.

iShares MSCI EAFE ETF

  • ETF Focus: Large- and mid-cap developed market stocks from companies in Europe, Australia, Asia, and the Far East
  • ETF Benchmark: MSCI EAFE Index
iShares MSCI Emerging Markets ETF
  • ETF Focus: Large- and mid-sized companies in emerging markets
  • ETF Benchmark: MSCI Emerging Markets Index
iShares ESG Aware MSCI USA ETF
  • ETF Focus: Large- and mid-cap stocks of U.S. companies with positive environmental, social and governance (ESG) characteristics
  • ETF Benchmark: MSCI USA Extended ESG Focus Index

Click to read more on current crediting strategies & rates

Please note that iShares ETF interest crediting strategies are not available in California for Sage IUL and WealthCare or Washington D.C. for Sage IUL, but will be made available upon approval. The Declared Rate Strategy and the S&P 500 Index Strategies are available in California and Washington D.C.

Updates for Current Global Multi-Index Strategy Clients
Any in-force life insurance and annuity clients currently allocated in the global multi-index strategy will receive a letter prior to their policy anniversary explaining the change and reallocation options. Applications signed October 1, 2022, and later qualify for the new strategies. The global multi-index strategy is no longer available.

Click for a sample client letter related to this change

Bestow Partners with Empathy, Offering Complimentary Access to the Platform

FROM BESTOW…

Bestow has partnered with Empathy, a platform helping families navigate the emotional and logistical challenges of losing a loved one. This partnership provides beneficiaries (and up to 10 total loved ones) complimentary access to valuable tools for dealing with loss. Empathy’s app can assist with many end-of-life tasks, including filing a life insurance claim, planning a funeral, and writing an obituary.

Empathy’s Services

  • Claims and Financial Support – Get help navigating the process and learning about benefits.
  • Care Managers – Chat with dedicated specialists for professional advice and support.
  • Personalized Planning – Receive a custom, step-by-step checklist to help make progress.
  • Grief Support – Loved ones can get comfort and guidance for difficult days and challenging emotions.

Bestow’s digital application experience is super fast and easy, with instant-decision underwriting for every applicant. With the addition of free access to Empathy app services for beneficiaries, your clients get even more with Bestow.

Agents don’t need to take any action; Bestow will notify beneficiaries of the Empathy services upon notice of loss. We’ve put together a one-pager and pre-made graphic you can share with agents and they can in turn share with clients.

Restrictions

Empathy can only be advertised to policies issued in the following states: AL, AR, CA, FL, GA, ID, IN, IA, KS, ME, MS, NE, NV, NH, NM, ND, OH, OR, VT & WV.

Find out more about these changes from Bestow…

AdminUpdate: Protective Launches Digital Part II October 6th

FROM PROTECTIVE…

Doing business with Protective just got easier — effective October 6th, you can opt your clients in to answer Part II medical-related questions online.¹ Those who may have felt uncomfortable or rushed when answering personal medical questions via phone interview, now have the option to enter their information digitally, on their time.

Don’t miss your chance to sit in on a live training ahead of the launch. Register using one of the links below:

¹via EZ-App or Protective-approved drop-ticket platform

Find out more about these changes from Protective…

AIN Events: The Periodic Table of Investments

What is the Periodic Table of Investments? It’s more than a play on the Periodic Table of Elements you remember from High School Chemistry! Presented by Joe Ross, Vice President, Sales Productivity & Business Development at AIG Financial Distributors, it’s the context for a discussion of the increasingly diverse universe of indices and crediting strategies available in today’s IUL Market. Watch the recording below to dig into:

• Understanding volatility and its impact on Indexed UL products & volatility control indices
• How Indexed UL “contradicts” Modern Portfolio Theory, a foundational element of asset management many advisors subscribe to
• The impact of volatility control on both the contribution and distribution phases
• The case for diversifying among indices in an Indexed UL

You’ll also see some cutting-edge virtual meeting technology deployed by Joe as he conducts trainings on behalf of AIG, as well as the content library he has developed.

Click to Watch The Periodic Table of Investments Recording

MassMutual Announces New Advanced Sales Tool for Whole Life & DI Cases

FROM MASSMUTUAL…

MassMutual Strategic Distributors is excited to introduce Simplify, our new Advanced Sales concept tool that can help you and your producers close more Whole Life and Disability Insurance cases. Now you can instantly generate client presentations that simplify insurance solutions.

With Simplify, client presentations can be created, demonstrating planning concepts for Life and DI strategies including: Supplemental Income for Retirement, Business Insurance, and Estate Planning. Get familiar with Simplify by viewing the following materials:

In addition to Taming a Bear Market, the following planning concepts are also ready for our team to illustrate for you in Simplify:

  • Split Dollar Loans
  • Key Person Insurance Plans
  • Executive Bonus Plans
  • Disability Insurance Analysis

Finally, stay tuned for more announcements as additional planning concepts become available, including:

  • Planning for Foreign Nationals
  • Retirement Buy-Sell Plans
  • Estate Equalization
  • Diversifying Taxes
  • Filling the Retirement Income Gap

How to Access
If you have a case we can Simplify for you, please contact us through one of the following methods:

¹To view accompanying illustrations for this concept, please see sample illustration #1 and illustration #2.

Find out more about these changes from MassMutual…

John Hancock Becomes First Life Carrier to Offer Customers Access to GRAIL’s Galleri Test

FROM JOHN HANCOCK…

Last week, we announced an exciting pilot program, offering eligible John Hancock Vitality customers access to Galleri — a multi-cancer early detection test.

Offering access to the Galleri test aligns with our goal of providing Vitality customers the latest technology to help them live longer, healthier, better lives. We will be reaching out to eligible customers in the coming weeks. See below for some FAQs:

Which of my clients are eligible for this offer?

Clients who meet ALL the following criteria are eligible for this pilot:
  • Age 50 or older
  • John Hancock life insurance policy with Vitality PLUS issued between September 1, 2019 and March 31, 2022
  • Completed their Vitality Health Review in the current program year

How will my eligible clients be made aware of the offer?

If your client is eligible, we will reach out to them in the coming weeks with information about Galleri and details on how to request their test.

How much will my clients have to pay for the test?

For eligible polices with coverage amounts of $500,000 or greater, 100% of the cost of the test will be subsidized. For policies with less than $500,000 in coverage, 50% of the cost of the test will be subsidized and the customer will pay $475.

Will John Hancock receive my clients’ test results?

No. Individual test results will not be shared with John Hancock or John Hancock Vitality, and results will have no impact on inforce coverage.

Find out more about these changes from John Hancock…

AdminUpdate: North American Increased Premium Limits on Multiple Products

FROM NORTH AMERICAN…

Our enduring strength and stability allows us to continuously evaluate new opportunities to improve value for our customers and distribution partners. As a result, we are excited to announce that we have increased our premium limits on the following products:

  • Custom Guarantee Universal Life 9 (CGUL9)
  • Protection Builder IUL
  • Smart Builder IUL 2
  • Builder Plus IUL 3

Below are the updates to our premium limits, which apply to lump sums, 1035 exchanges, ongoing premiums, and multiple pending applications on the same client. Please be aware that there may be additional requirements for inforce policies that receive unplanned premium and are in CVAT corridor.

CGUL9

  • Old = $250,000
  • New = $500,000

Protection Builder IUL w/ Premium Guarantee Rider (PGR)

  • Old = $250,000
  • New = $500,000

Protection Builder IUL w/out PGR

  • Old = $1,000,000
  • New = $2,000,000

Smart Builder IUL 2

  • Old = $1,000,000
  • New = $2,000,000

Builder Plus IUL 3

  • Old = $1,000,000
  • New = $2,000,000

Premium limits are reviewed on an ongoing basis and are subject to change.

Starting September 24, 2022, all applications started and/or submitted using SimpleSubmit e-app, along with iPipeline web illustrations software, will be updated with the new annual premium limits. WinFlex will begin reflecting the new premium limits on September 26, 2022.

Find out more about these changes from North American…

AdminUpdate: MassMutual Enhances HNWFN Underwriting Guidelines

FROM MASSMUTUAL…

On the heels of the recent news of MassMutual’s increased retention limits, we are pleased to announce another underwriting improvement: enhancements to our High Net Worth Foreign National (HNWFN) guidelines!

Since March of this year, we have anxiously anticipated the return of normalized travel to the U.S. by many of our potential High Net Worth clients. But before revising our guidelines, our new third-party distribution channel, MassMutual Strategic Distributors (MMSD), met with several BGAs, each with a strong focus on the Foreign Nationals Market. MMSD gained valuable insights that helped shape our revised guidelines for our HNWFN program.

As a result, here are the new versions of the guidelines:

Additional Changes

  • Revised NEXUS requirements, resulting in more clients having established ties to the U.S.
  • Increased internal retention limits:
    • Residents of “A” countries can qualify for up to $20 million (previously $7.5 million) *
    •  Residents of “B” countries can qualify for up to $15 million (previously $5 million) *
  • If U.S. based need for coverage is established, may be able to consider global assets in determining coverage need.
  • A decreased minimum face amount, along with an alternative minimum base annual premium.

*Refer to the latest country classifications. All existing and applied-for coverage with MassMutual reduces available retention. Maximum retention limits are subject to case details, including the insured’s age and risk class.

Find out more about these changes from MassMutual…

ProdMod: ExtendCare Rider Now Available on Protective Executive UL

FROM PROTECTIVE…

Our ExtendCare rider is now available on Protective Executive UL — providing key chronic illness coverage for employers and their leadership talent.

ExtendCare advances the policy’s death benefit to manage the costs of:

  • Home health care
  • Professional nursing care
  • Transportation
  • Nursing home and assisted living costs
  • Hospice care,
  • and more

Click to learn more about Protective’s Executive UL solution.

Find out more about these changes from Protective…