Good News To All Global Atlantic/Accordia Life Producers
We are informed that after June 30, 2023, rather than creating a new conversion-only life product, Accordia and predecessor company term conversion will be allowed to just one of the three current life products: Lifetime Foundation ELITE IUL.
This may be of some relief to many of you in that Lifetime Foundation ELITE, in its recent form, has been a competitive and valuable product with relatively affordable premiums and death benefit guarantees to the earlier of age 90, or 40 years.
See here for more details on Lifetime Foundation ELITE
We wanted you to know about the conversion availability right away to help reduce any “June 30 Conversion Deadline Anxiety” some of you may be having.
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Reconsider Your Approach To Index Universal Life
If you think an IUL index’s caps, floors and participation rates eliminate volatility, think again. There’s more you can do to help stabilize results with index diversification.
Instead of putting all your client’s assets into ONE index bucket, it may make sense to diversify across several index buckets, producing less volatility. This strategy can help ensure more predictable results while retaining exceptional performance during BOTH the “contribution phase” and the “distribution phase.”
See how it works…
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Transamerica Is Poised To Return As A Serious Player For Life Insurance Sales
Transamerica is hiring 800 new employees in Cedar Rapids to take back their outsourced operations model. At the same time, they are taking more steps to improve their product portfolio
and they are increasing the maximum Critical Illness living benefit from $500K to $1.5 million for new claims on all new and inforce IUL policies, allowing clients to access a greater portion of their death benefit. In addition, they are updating surrender charges and per unit charges to improve early year cash value accumulation. Read more on FFIUL…
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Annuity Corner
Save Your Clients Money With Guarantees
CDs are popular for those wanting a safe, low-risk way to save money. A posted 10/22 Bankrate average for a 3-year CD was .98% and is income taxable. A 3-year Multi-Year Guaranteed Annuity (MYGA) offers 4.7% and is not currently taxable. Which one would be better for your client?
Help strengthen your client’s relationship with you. Check the rates below and contact Cenco for the most current rates for any available time periods. Your clients will be glad you did, and so will you.
Don’t miss the chance to solidify your client relationships with the best MYGA rates including
some recently updated California rates:
- A Top 2-year rate – 4.60%
- A Top 3-year rate – 5.00%
- A Top 4-year rate – 5.05%
- A Top 5-year rate – 5.25%
- A Top 6-year rate – 5.30%
For more information and carrier details contact your Cenco support team.
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DI Did You Know
Sales Idea: The Small Business Owner Twofer
Most small businesses and private practices require daily involvement from an owner to remain profitable. Small business owners benefit from personal income protection for their own income – but they also need business income protection to protect their business.
Business products like Business Overhead Expense and Buy-Sell provide a business owner with
peace of mind, knowing that their business can continue normal operations if they became unable to work.
Don’t miss the opportunity to talk to clients who own small businesses about disability income insurance protection. Selling multiple DI products to protect the small business owner and their employees is like a two for one sale.
Contact Cenco for more information.
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Carrier Incentives
Travel the World With Cenco!
Stay tuned for more carrier incentives.
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