Category: Carrier Updates

Conversion UL Product for PL Promise Term Conversions in California

Pacific Life Introduces PL Promise Conversion UL Beginning April 13, 2018, PL Promise Conversion UL universal life insurance (UL) is available upon conversion from existing PL Promise Term life insurance policies in California (CA). All form repositories and available distributors have been notified of the new product availability. PL Promise Conversion UL • Available without additional underwriting upon conversion from PL Promise Term2,3 • Competitively priced guaranteed No-Lapse UL design • Return of premium feature in policy years 15, 20, and 255 • Up to 150% of normal compensation paid upon early conversion VIEW FULL...

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Protective ProClassic Legacy Launching April 30

Protective ProClassic Legacy Launching April 30 On April 30, 2018, Protective Life will launch ProClassic Legacy: a new current assumption universal life policy that offers flexible premiums and cash-value potential. As part of this launch, ProClassic UL will be discontinued on April 30, 2018 with conversion applications discontinuing on June 29, 2018. In addition, ProClassic NY and ProClassic UL with the Enhanced Cash Surrender Value Rider will continue to be available for new issues and certain conversions. CLICK HERE TO VIEW THE FULL...

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Transamerica Discontinuing Payroll Allotment Option on Final Expense Products

Transamerica Discontinuing Payroll Allotment Option on Final Expense Products Transamerica has determined payroll allotment will no longer be an option for Final Expense products due to market conditions, effective April 16, 2018. The Underwriting and New Business departments have deemed Final Expense products will no longer accept payroll allotment as a form of payment. Impacted products include: • Immediate Solution (WL08). • 10-Pay Solution (WL08). • Easy Solution (WL09). • Guaranteed Whole Life (GWL). • Guaranteed Whole Life Final Expense (GWLFE). This includes payroll deductions, list bill, government allotments, and military allotments for Final Expense products. Policies in force with payroll deduction or list bill active will continue to collect premiums in that manner. Starting April 11, 2018, no new policies will be accepted with payroll option as a form of payment. Complete documentation must be received by April 11 to ensure the client can use payroll deduction. Clients requesting the payroll option after April 11 must select a different method of...

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Pacific Life Reprice on PL Promise Term Life Insurance

Pacific Life Reprice on PL Promise Term Life Insurance As of April 16, 2018, PL Promise Term life insurance just got more competitive. Check out our new premiums, plus other great news. VIEW FULL BULLETIN See also: PL Smooth Sailing Underwriting Up to $500,000 Life Insurance Death Benefit* With No Medical Exams No Needles – No Blood Work – No Bodily Fluids – No EKGs – No Treadmills Ages 50–69, Any Risk Class Including Substandard Client Experience: Phone Interview and Application with Comprehensive Physical and Blood Work available from Primary Physician within last 18 months Additional Requirements: PL will order the typical prescription report, medical information bureau, and motor vehicle reports GET A MARKETING TOOLKIT, INCLUDING EMAIL...

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