Congratulations to Larry Koresko, Winner of the Global Atlantic Idea Lab Sales Idea Competition

The 2019 Idea Lab Series rolled into Chicago with our colleagues at Global Atlantic in June. Larry Koresko of InsMax Insurance Brokerage presented his strategy for maximizing guaranteed income, protecting the client’s principal and leaving a legacy for loved ones or their favorite charity. You can learn more about it, as well as the balance of the Sales Ideas presented at the Idea Lab, below or on Idea Lab HQ on AIN Essentials.


ProdMod: Global Atlantic’s Lifetime Foundation Elite is Now on the Street!

That’s right, the latest product release from Global Atlantic is now live. The Lifetime Foundation Elite is a major upgrade of the original Lifetime Foundation, with a simple to understand design and robust guarantees at truly competitive prices. Even better: The Lifetime Foundation Elite performs best at a reasonable 6% rate and has a unique COI structure at older ages. Read on for the details!


What Makes Lifetime Foundation Elite Different?

The Lifetime Foundation Elite is incredibly straightforward:

  • Indexed Universal Life designed to perform at a 6% illustrative rate
  • Premium solves using the 6% rate will deliver guarantees to age 90 or 40 years, whichever is less
  • Guarantees are based on a simple, cumulative premium test: No expensive catch up premiums or the like if a client needs to skip a premium more two. Just pay the back premiums are the guarantees will be restored.
  • COI’s cease at age 90 on the current side. This means clients may be able to stop paying premiums at that point and the policy will continue to maturity.

It’s also competitive! Premium solves in most designs are typically top 5 or better, with short pays being even more competitive.

Important: While other products can benefit from being illustrated at the AG 49 maximum illustrative rate, Lifetime Foundation Elite is different. While the 6.32% max rate can be used, in some designs it results in a premium that is below the cumulative guarantee premium. If you want to see the longest guarantees with the lowest possible premiums, use a 6% illustrative rate! Reach out to any of the AIN Member Services Team for assistance with any illustrations if you are unsure of the design to use.Transition Rules: 

These deadlines apply to applications for Lifetime Foundation and related versions of riders.

  • July 23: Last day Lifetime Foundation applications can be signed
  • July 31: Last day Lifetime Foundation applications can be received in the Home Office
  • Oct 31: Last day for Lifetime Foundation policies can be issued

Please Note: If you currently have a Lifetime Foundation application in the underwriting process and would like to change that application to Lifetime Foundation ELITE, please submit a cover letter and Lifetime Foundation ELITE illustration to Global Atlantic’s New Business team.

At time of delivery, your policy will have an Amendment for the new product which will need to be signed by you and your client(s). If you have any questions, please contact Global Atlantic New Business at 855-887-4487, option 1.


Find out more about Lifetime Foundation Elite…

The California approval is in! Global Atlantic’s Lifetime Builder Elite available for new sales in California effective May 7th

How do you make a product “Elite”? It starts with performance that speaks to the entire product segment and finishes with features that make the product a player from the middle market accumulation sale all the way to sophisticated planning cases and funding strategies like premium finance. Read on for the details, but more importantly, crack open your illustration software and see how the updated Lifetime Builder Elite hunts on your next case. Illustrations are live today!


What Makes the New Version of Global Atlantic’s Lifetime Builder Elite?

How about:

  • A guaranteed 1% account value enhancement after policy year 5
  • An 11 month first year crediting strategy, so index credits sync with the policy date
  • A new loan option that limits the net cost of loans to no more than 2% guaranteed
  • A more robust menu of indices to choose from
  • The ability to reallocate funds at each policy anniversary
  • A 2% Minimum Account Value Guarantee applied every fifth policy year
  • Higher Caps and illustrative rate

Of course, performance needs to be there as well! Global Atlantic is putting their asset management muscle where it matters most to clients: In their pricing! The Lifetime Builder Elite is one of the most competitive IUL’s on the street in terms of not only illustrative performance, but also performance you can believe in!

Find our more about LTB Elite…

California Transition Rules: 

These deadlines apply to applications for Lifetime Builder and related versions of riders, including the Early Cash Value (ECV) rider.

  • May 25: Last day Lifetime Builder applications can be signed 
  • June 1: Last day Lifetime Builder applications can be received in the Home Office
  • July 31: Last day for Lifetime Builder policies to be issued

Please Note: If you currently have a Lifetime Builder application in the underwriting process and would like to change that application to Lifetime Builder Elite, please submit a cover letter and Lifetime Builder Elite illustration to our New Business team. If the policy has already been underwriter approved, Issue Instructions will be sufficient.

At time of delivery, your policy will have an Amendment for the new product which will need to be signed by you and your client(s). If you have any questions, please contact New Business at 855-887-4487, option 1.