The Producer Conversation for Secure Lifetime GUL3 with Asset Protector!

By | Business Cultivation, Life Insurance | No Comments

The Producer Conversation

Knowing a product is only a small part of the overall selling process. In fact, knowing the product may be the simplest part. The challenge that often hinders the sale is how to pitch the idea to a client. How do you introduce the Secure Lifetime GUL3 to clients?

Check out this video from American General and Steve Schumaci who shares his secrets to success!

The 10-10-10 Plan with AIG’s Secure Lifetime GUL3

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10-10-10 Plan | Secure Lifetime GUL3

Guaranteed Universal Life products have generally been “no frills” type of products. American General is changing the game with their Secure Lifetime GUL3. The innovative features of this product make it simple for your clients to protect against dying too soon, living too long, or getting sick along the way.

The 10-10-10 is a simple concept that can help those who are looking for a guaranteed death benefit, a short payment schedule, and an additional income source during their retirement years.

Download the items below and read more about the 10-10-10 plan!

View Your In-force & Pending Life & Annuity Cases

By | Life Insurance, What's Trending | No Comments

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Have you ever called FPG after hours to check on the status of your case or you needed information for a policy you placed in-force? Now you can use MyCases to check your pending business and in-force business!

If you have any questions, your case managers are always happy to help.

Gigi Gervacio 949.455.0119 x222   ggervacio@fpgonline.com

Tracy Gaspard 949.455.0119 x220  tgaspard@fpgonline.com

Focus On: Mood Disorders

By | Life Insurance, Underwriting | No Comments

This month we focus on mood disorders, the most common of which are depression and anxiety, and which affect approximately 20% of the adult population of the United States. From an underwriting point of view, the mortality risk is due primarily to suicide, cardiovascular disease, and substance abuse. Research shows that risk is highest early in the course of the disorder or within a few years of a hospitalization.

Because diagnosing and underwriting mood disorders can contain a degree of subjectivity, most underwriters rely on information found in prescription history checks and medical records. They look for the type and number of medications a client may take, what degree of severity a client’s doctor has labeled the diagnosis, and whether the client has admitted to any suicidal thoughts, among other things.

If you know or suspect your client has a mood disorder, but don’t want to ask too many sensitive questions during the pre-underwriting process, we can help! Click on the following links to be directed to our  Depression and Anxiety Questionnaires. Have your client complete any and all relevant information on the form, in confidence if they so desire, and send it to FPG. Using the questionnaire and our quick-quoting tool, we will let you know which carrier can offer the best underwriting class for your client!

Call your Case Manager or Marketing Director for more information!

Try Out FPG’s Mobile Quote Tool!

By | Business Cultivation, Life Insurance, What's Trending | No Comments

Sharing the value of life insurance is easier when you have FPG in your back pocket. Our mobile quote tool allows you to provide your client Term and GUL quote right from your mobile phone or tablet!

This tool is simple to use and provides you quotes to all our term and GUL carriers! You’ll need the death benefit amount, the term length, and the underwriting risk class you want to quote!

Click HERE to visit our mobile quote tool and don’t forget to bookmark the page for easy access!

Launch Mobile Quotes

Legalization & Risk Class : The Best Life Insurance Carriers for Cannabis Users

By | Life Insurance, Underwriting, What's Trending | No Comments

California recently became the most populous state in the nation to legalize the recreational use of marijuana. With many states following this trend, which life insurance carriers offer the best underwriting for cannabis users?

Click HERE or the button below to download our carrier chart that includes carrier guidelines.

Did you know that marijuana use in the U.S. has doubled in the last decade, according to the National Survey on Drug Use and Health!

Understanding your clients options can set you apart from the crowd. Knowing what company can provide the most favorable rating and the best experience to your clients is just a click away! Download our chart by clicking the button below.

Download Chart - Agent Use Only

Market Value Adjustment (MVA) – Good or Bad?

By | Annuities | No Comments
Market Value Adjustment

written by: Josh Garland, ChFC®

What is an MVA?

An MVA or Market Value Adjustment is either a positive or negative adjustment that is made to the surrender value of an annuity contract. Generally, an MVA is only triggered when a surrender charge will occur; this is a key point that is often overlooked. If an annuity policy is no longer within its surrender charge period then the MVA will no longer exist. Additionally, if a client takes a withdrawal that is within the penalty-free withdrawal corridor, commonly 10%, then that withdrawal will not trigger an MVA. Lastly, not all annuity contracts come with an MVA, so it is important to check the details of the contract to know whether it is present.

How does an MVA work?

In a previous article titled, “How do Index Annuities Actually Work?” I explain that when a client purchases a Fixed Index Annuity (FIA), the insurance carrier will use the majority of the client premium to purchase bonds. The mechanics of an MVA and its reason for existence hinges upon this one characteristic of the FIA creation process. For example, if a client were to purchase a 10 year FIA the insurance company would then in turn buy 10 year bonds with the expectation that this client has committed to a 10 year hold and upon bond maturity those funds will be returned. However, if in 5 years that client decides they want to surrender their annuity policy early, they are required to pay the surrender charge at that time along with the MVA.  Whether that MVA will be positive or negative depends upon what has happened to interest rates over that 5 year period.  If interest rates have gone up, then the insurance company will suffer a loss when they sell the block of bonds to produce the required funds that must be returned to the client and that loss will then be passed through to the client’s surrender value in the form of a negative MVA. If the opposite were to occur and interest rates had gone down, the insurance company will be able to sell those bonds at a “premium,” and that gain will be passed on as a positive MVA to the client’s surrender value. The exact calculations of the MVA can vary by carrier and often have a maximum MVA level. So please review the carrier specific disclosures for exact details per product.

Here is an example of a great piece that describes how Lincoln Financial Group calculates an MVA:

A Dose of Reality!

At the end of the day, if we are truly presenting annuities the “right” way, to appropriate prospects, then an MVA does more good than bad for our clients.

Here’s why:

  1. An MVA allows the insurance carrier to pass on some of the risk of loss due to an early surrender, this alleviates product expense and that allows the carrier to offer better interest crediting potential to the client.
  2. The annuity offered to your client should only have a surrender period that is appropriate for their investment time horizon. If they have expressed that they will likely need funds in 5 years as an example, then they have no business purchasing an annuity with a surrender period longer than 5 years. Remember the MVA only applies when a surrender charge will be assessed. So, when clients hold the policy through the surrender period the MVA can do no harm.

To summarize, a market value adjustment can have a positive or negative effect on your client’s annuity contract. However, as long as your client holds their policy to the end of its surrender period and does not take a withdrawal in excess of their penalty free withdrawal amount then they will remain unaffected by the MVA. So it is important that we present appropriate annuity options that meet our clients’ needs to avoid any potential problem that could arise from an MVA allowing our clients to only benefit from the increased crediting potential.

The Untapped Audience for IUL Marketing

By | Business Cultivation, Life Insurance, What's Trending | No Comments

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Indexed Universal Life marketing has traditionally targeted those ages 55-80, but some agents are starting to say this demographic is “almost tapped out”. If you also feel that is the case, you may want to shift your marketing to a consumer group that is highly motivated and largely untapped. Consumers age 36-55 are starting to think about retirement planning and the idea of a “tax-free retirement” is grabbing their attention.

Check out this article from Life Health Pro which provides you more insight into this unique group, and ideas of what to potentially “pitch” to someone looking for a “tax-free retirement”.

Click here for Article

*Life Health Pro is a free industry resource. You may be required to register to view the full content.

Generational Marketing

By | Life Insurance, What's Trending | No Comments

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The consumer landscape continues to evolve and we now live in an age where Millennials, Generation X, Baby Boomers, and Matures are worthy of our attention due to their evolving needs and spending power.  Because of such a diverse consumer base, traditional marketing efforts do not yield the results they once did.

To help you market efficiently to today’s consumer, American General has created Generation Matters. With resources such as Generational Marketing Tactics, Guides to Building Relationships, and fully scripted presentations, this website should be your main resource for Generational Marketing.

I encourage you to visit the website by clicking on the link below.

Visit Generation Matters

Submitting Electronic Applications using MyEasyApp

By | Life Insurance, What's Trending | No Comments

MyEasyApp

Completing a 20 page life insurance application can be draining! If the process of completing the application wasn’t hard enough, scheduling a time to meet with a client to obtain their signature could be a daunting task as well. In an effort to simplify this process, FPG introduces you to MyEasyApp. Our electronic application system is easy to use, available anytime, and allows your clients to sign their applications electronically!

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