June 14, 2024

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Approved for one-hour CFP credit and one-hour PA Life Insurance CE credit.

Offer your Clients

More Living Benefit Options for Added Protection

John Hancock's innovative Chronic Illness rider is now available on Accumulation IUL and Accumulation VUL, giving you another powerful way to help your clients plan for needing care in retirement. Take a look at this quick overview of the three distinct and compelling ways your clients can choose from to help cover the costs associated with chronic illness.

Compare the options here.

Contact our Case Design Team for quotes and more information.

How You Can Help Clients

Address Pre- and Post-Retirement Risks

The risks people face before retirement tend to get smaller over time, such as income replacement, mortgage payoff and college for the kids. These can be addressed with term insurance.

As we get older, a few other risks emerge, like reduced income, health care costs and financial risks. Permanent Insurance can help alleviate these.

One possible approach is to protect to age 100 with a two-policy solution. Contact our Case Design Team to ask how a combination of term and permanent insurance can take care of short-term concerns and bolster retirement protection within a a client's current budget.

The Pension Protection Act and

Long-Term Care

The Pension Protection Act (PPA) deals with changes and reforms to pension governance, specifically with annuities, long-term care and new tax advantages.

What does this mean for annuities?

Cash value withdrawals from eligible annuity contracts for qualifying long-term care (LTC) expenses or qualifying long-term care insurance premiums are no longer taxable income.

Can regular annuity withdrawals for LTC expenses be treated as tax-free distributions?

An annuity policy must include language which makes it qualifying. This would preclude a “regular annuity” (an annuity with standard free withdrawal) from receiving the benefits of the PPA.

How will long-term care benefits be reported?

Qualifying LTC and LTC insurance premiums paid from annuity values along with LTC benefits paid from riders will be reported at year-end on Form 1099-LTC.

Download the full FAQ for eligibility requirements.

Whole Life- Its Fight as a Bond Alternative

For the last few decades, selling Whole Life on the basis of yield relative to traditional fixed-income alternatives was easy as Dividend Interest Rates remained consistently higher than market interest rates.

Now, the opportunity is to position Whole Life on the basis of its fundamental characteristics as a safe harbor in an uncertain world that can deliver corporate bond returns with money market liquidity and total tax control. It’s the ideal fixed-income alternative that every financial advisor should consider incorporating as a part of their asset allocation strategy – and the perfect way for brokerages to open new conversations and opportunities.

Learn more by registering for this webinar hosted by Bobby Samuelson, Executive Editor of Life Product Review

Banner- Effective August 1, 2024, Banner Life will no longer accept the traditional Request for Life Insurance Form LAA1297.

Lincoln- Lincoln to discontinue new sales of VULone & SVULone. All formal applications for Lincoln VULone and SVULone , including LincXpress® Tickets, must be received in good order at Lincoln by August 9, 2024.

All policies must be placed, and all placement-restrictive requirements, including premium, must be received at Lincoln in good order by 4 p.m. ET December 31, 2024. For any pending Lincoln VULONE or Lincoln SVULONE case not placed by the deadline, the client must select a different product, or the case will be canceled.

See the full announcement and transition rules here.

PHL Variable - Placed under Rehabilitation: While Underwriters Brokerage never represented the Phoenix Companies, some of your clients may still have policies with this formerly significant life insurance carrier. You should be aware of their current financial position and monitor their policies and situation regularly. An updated ALIRT financial report is now available