Cenco Insurance Marketing Corporation
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Cenco eNews
January 26, 2021
Not Sure How Much Term Rates Have Changed? We Have Some Answers

As predicted in recent eNews and as many insurers are considering, on January 19th, AIG announced new term rates for both AIG Partners Group and AIG brokerage products.

While as expected, some rates have increased slightly, some have actually decreased.Take a look at this Rate Change Comparison Chart that Cenco has created for you for more information and detail. From now on all AIG term quotes, whether from AIG's website or elsewhere will reflect the new term rates as AIG has removed the old rates from their website and all other approved quoting services. Read the transition rules...

However, the good news is that for applications received between now and February 14, 2021 your applicants will be given the lower of the new rates and old rates. Also, more good news is that the new rates are already available in the "Get a Quote" feature on our website.

So don't wait, if you think you have clients who could benefit from the old rates, have them apply now! They will appreciate you more.

Previously Strictly Limited Annuity Product Now Available To Cenco Agents!
First, thanks to those of you who already sell AIG's competitive annuity products. Now for some good news. For the past few years, AIG's much heralded and requested unique Assured Edge Fixed Annuity with its escalating income rider was only available via a handful of specialty IMOs and agents who both had to make serious production and marketing commitments. Even the large IMOs we all work with did not have it. Now it is available to you! Also, if you are with a broker dealer, and it is a fixed annuity, it does not need to go through the grid of most BDs. You can sell it under a separate contract, earn more and be paid directly by the carrier rather than by the BD.

Important Highlights:

  1. Simple, predictable story that creates lifetime guaranteed income. No index to track or manage.
  2. Most people hear fixed annuity and think fixed comp. Not true. Upfront street comp is competitive. No reduction on comp for older clients up to age 80.
  3. Assured Edge target clients and scenarios will be:
    • Client ages 60-75 needing income now and/or income soon
    • Joint income with younger spouses
    • Competes with Variable Annuity GMWBs
    • Existing Variable Annuity GMWB 1035x rescue
    • Income Max with RIA AUM focus
    • SPIA alternative
    • Funding life insurance, medical supps or LTC
    • Sales opportunity for Broker Dealer Reps who can sell fixed annuities OBA
  4. Assured Edge Product Information

Trade Short-Term Thinking For Protection Built For Life
Term policies can be attractive to clients who want life insurance at the lowest price. But the risk of higher costs and premiums when those term policies expire can make the short-term route a short-sighted strategy. An alternative could be Protective Lifetime Assurance UL - a smart option to financial plans for budget-minded clients who want to protect their family for the long term. Read more...

Contact the CENCO TEAM:
Erik Sjolie, Cathy Martin and Brianna Solano

Cenco Insurance Marketing Corporation
1501 El Camino Ave, Suite 1
Sacramento, CA 95815

Phone: (916) 920-5251
Fax: (916) 920 8734


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