Mass Mutual | July 2022
MassMutual repriced its term life insurance to improve our competitive position in key areas while adjusting some products to improve profitability. Now, applications can be submitted for this new rate series. Read More.
MassMutual repriced its term life insurance to improve our competitive position in key areas while adjusting some products to improve profitability. Now, applications can be submitted for this new rate series. Read More.
Prudential’s premium limits have increased to $5MM for all products EXCEPT SUL Protector in NY where the limit will remain at $2MM. Any premiums over these amounts will be eligible for our Product Profitability review process.
Lincoln’s guidelines for nonmedical conditions that prompt the need for labs/vitals have been updated to offer consideration for more clients. For complete details, please review Lincoln’s Lab-Free Consideration Presubmission Qualification Guidelines.
AZ, CT & IN to transition from SecureCare UL to SecureCare III, effective JUNE 27th.
This leaves DC, DE, ND, and SD as the only states left to transition from SecureCare UL to SecureCare III. These remaining states will transition in the coming months.
Key dates
Transition rules
Allianz Life Pro+ Advantage Fixed Index Universal Life Insurance Policy is now available on iPipeline’s iGo. We’re making it easier to do business with us, with quicker submitting and issuing of polices. Start submitting with iGo today!
Effective August 1, Legal & General will no longer accept the traditional paper life insurance application (LIA). As of this date, these forms will no longer be accepted. All applications must be submitted digitally through our website. Read More.
Advisors can now earn up to 10% higher target premium on Nationwide New Heights® IUL. To qualify for the new target premiums, policies must be funded and in-force on or after June 13, 2022. Contact us to learn more.
Lincoln has made pricing updates on Lincoln VULONE which will improve competitive positioning of level pays, while remaining competitive in single pay designs.
On average adjustments are as follows:
▪ 17% decrease to Level pay designs
▪ 1% decrease to 10 pay designs
▪ 5% increase to single pay designs
Allianz Life Pro+® Advantage Fixed Index Universal Life Insurance has rate increases. Read More.
Allianz made enhancements to improve the underwriting process for both you and your clients:
Effective June 13, 2022, Lincoln is pleased to announce a product reprice for Lincoln Premier BOLI UL. The product will be updated to reflect the 7702 and 7702A interest rates changes to comply with the updated Consolidated Appropriations Act that went into effect in 2021. Lincoln Premier BOLI UL, a general account BOLI product, is designed with flexible advantages for your clients. There will be no changes to the benefits or features of the existing product, such as a first-year rate lock, no COIs in the first year, and competitive rates and commission schedules. Read More.