{May Sagicor Minute} New product portfolio, related deadlines and Milestone MYGA rates

Having trouble viewing this page? Click here to view as webpage.

MAY 2024 | THE SAGICOR MINUTE

THE SAGICOR MINUTE

In this issue, you’ll find spring sales ideas, our latest Milestone MYGA rates, a reminder about application deadlines and industry sales data.

SALES

Meet our new, streamlined portfolio

As we announced recently, we’ve streamlined our portfolio to focus on two flagship products purpose-built for the Peak 65 opportunity — WealthCare Indexed Single Premium Universal Life Insurance (WealthCare) and Milestone Multi-Year Guaranteed Single Premium Annuity (Milestone MYGA).

DIVERSIFY YOUR PORTFOLIO WITH LIFE INSURANCE AND ANNUITIES

RATES

Get cash back in the game with Milestone MYGA

In April, money market assets hit an all-time high of $6.111 trillion.¹ If your clients have cash on the sidelines, consider suggesting Milestone MYGA as a tax-deferred, retiree-friendly alternative. It offers a top interest crediting rate of 5.30%, and the added convenience of our renewal commission program.

National Milestone MYGA rates

SHARE THE CLIENT RATE SHEET

TIPS & TRICKS

Sage IUL, Sage Choice SPDA and Sage Whole Life Deadlines

As previously announced via email, if you are currently working with clients to place a new Sage IUL policy or Sage Choice SPDA contract, all applications must be signed and received in good order by May 31, 2024, and placed in force by July 26, 2024.

Sage Whole Life Insurance will only be available for term conversions. New business applications must be signed and received in good order by May 31, 2024, and placed in force by July 26, 2024.

DID YOU KNOW

Increases in care costs outpace inflation

According to a recent analysis, the cost of care services is rising at rates much higher than inflation. In 2023, the inflation rate was 3.40%.⁴ Here’s how that stacks up against some common care services:

For more information, please call the Producer Resource Center at 888-724-4267, ext. 4680 or email PRC@SagicorLifeUSA.com.

Visit us online at SagicorProducer.com.

¹Idzelis, Christine. “Money Market Fund Assets Rise to Record as Investors Love Cash Even as Stock Climb in 2024.” MarketWatch.com. April 9, 2024.

²Years referenced are contract year terms. Interest rates are current as of March 29, 2024. Current rates and the renewal commission program are subject to change at any time and at the discretion of Sagicor Life Insurance Company.

³Milestone MYGA’s Guaranteed Minimum Interest Rate, following the Initial Guaranteed Interest Rate, is currently 1.50%.

⁴Srinivasan, Hiranmayi. “U.S. Inflation Rate by Year: 1929 to 2024.” Investopedia.com. February 19, 2024.

^{5, 6, 7, 8, 9}Genworth Financial, Inc. “Genworth Cost of Care Survey 2023.” March 6, 2024.

Products issued by Sagicor Life Insurance Company. Home Office: Scottsdale, AZ. Products not available in all states, and state variations may apply. Sagicor does not provide tax or estate planning advice. Your client(s) should consult with their tax advisor(s). Annuities and life insurance products have limitations and restrictions, including surrender charges. Sagicor issues other fixed annuities and life insurance products with similar features, benefits, limitations and restrictions. Contact Sagicor for more information. Policy Forms: ICC171017, 1017CA, 1017FL, 1017, 1017ND, ICC191021, 1021CA, 1021FL, 1021, 1021ND, ICC091009, 1009 and 1009FL. Contract Forms: ICC173008, 3008CA, 3008FL, 3008, 3008ND, 3005, 3005AZ, 3005CA, 3005DE, 3005.11FL, 3005GA, 3005IA, 3005ID, 3005IL, 3005IN, 3005MA, 3005MD, 3005MN, 3005MO, 3005NC, 3005ND, 3005NE, 3005NJ, 3005.11OH, 3005OR, 3005PA, 3005RI, 3005TN, 3005TX, 3005UT, 3005VA and 3005WA.

Sagicor is rated “A-” (Excellent) by A.M. Best Company (4^th best out of 16 possible ratings), affirmed as of October 20, 2023. Rating and guarantees based on the claims-paying ability of Sagicor Life Insurance Company.

Insurance Professional Only. No Public Distribution.

SMN-2405 | May 1, 2024