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| New Re-Priced UL-G and SUL-G |
On July 13th John Hancock is launching their
re-priced Protection UL-G and Protection
SUL-G. Both re-priced products in general
are going to have higher premiums (varies by
specific cell, but on average about 4%). The
transition period is going to be very tight
so please note the following dates:
They will accept applications until July 31st
provided that they have an illustration and
an application or a tentative underwriting
decision. All policies must be issued by
September 14th. We are requesting that all
applications be in the Hallett Financial
Group office by July 30th at the latest to
allow us time to prep and transmit the
paperwork to John Hancock in time to make the
cutoff. We are having an offsite company
function the afternoon of July 31st so any
applications we receive in our office on July
31st will run the risk of missing the
cutoff. Click here for the John
Hancock notice. (by John Hancock USA - Posted on 06/29/2009) |
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| URGENT - SUL Product change at Lincoln Financial |
Lincoln Financial Group is updating their
rates on their Guaranteed SUL product. Rates
are going up and in most cases the new
product is not as competitive as the current
product.
We have a VERY short timeframe left in order
to secure the current product. Transition
rules are as follows: Any application
received at the Lincoln Financial home office
by 6/24/09 will receive the current rates;
any application received after 6/24/09 will
receive the new rates. Any applications
currently in underwriting and submitted are
not affected.
If you are currently working on obtaining a
new application for Lincoln Financial for
their SUL product, please get it completed,
signed, and faxed or emailed to our office by
12:00 noon on Wednesday 6/24 so that we can
get it processed and submitted to Lincoln in
time for the cutoff.
(by Lincoln Financial Group - Posted on 06/22/2009) |
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| Term Changes for Protective and West Coast Life |
Effective June 1st, West Coast Life and
Protective Life will be making some changes
to their term portfolios. They will both be
increasing their policy fees on their term
products. The new policy fee will be $60 for
all products. This represents a $5 increase
in Policy Fee on 10-year ($250K+) and 15-year
($250K+) products. Protective Life will also
be discontinuing the "Preferred Tobacco"
class from the Protective Value Choice
Term.
To qualify for the old rates for either
company, applications must be signed by
6/14/2009 and received in the home
office no later than 6/22/2009 (must
be received in our office by 6/19/2009 to
make the home office deadline of 6/22/2009).
Any application signed on or after
6/15/2009 will get the new rates. (by Hallett Financial Group - Posted on 05/28/2009) |
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