When the time comes, make sure you plan not just for your own future, but for the ones you love as well.
Since it’s early beginnings, life insurance has served as a key building block to protecting your clients financial future. Our goal is to help you understand the many benefits it can provide and create successful conversations with your clients. Whether you are protecting a mortgage, passing on wealth, or building retirement savings, call us to learn how to have the “Life Talk.”
Life Insurance Articles
I’m here to help people who want to get the word out on Living Benefits. If you are seeing this I have already mailed you a copy of the tool for your use. If you have clients that you want to approach and need help, feel free to contact me or schedule a time to chat by CLICKING HERE!
To Your Success!!
Eric Estrada- “The Tax Free Ninja”
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Effective – 03/07/16
States – All
Contact – If you have application questions, please contact your New Business team representative.
Suspension of All Traditional Life Insurance and Fixed Annuity Sales Effective March 7, 2016
After a review of its U.S. Life Insurance businesses, Genworth has decided to suspend sales of all our traditional life insurance and fixed annuity products, including Total Living Coverage, as of March 7, 2016, subject to applicable transition rules and required regulatory approval.
Genworth has decided to direct its efforts exclusively on the market opportunity that provides the most potential for profitable growth and takes the greatest advantage of our expertise, long term care insurance experience, and competitive strength: providing solutions that address the financial challenges of aging.
Effective Monday, March 7, 2016, the Genworth companies will no longer accept new applications for our traditional life insurance and fixed annuity products, including:
• Asset Builder Index Universal Life II
• Foundation Builder Index Universal Life
• Colony Term
• Total Living Coverage (TLC)
• Annuity Secure Living series
This change is effective for all states except Arkansas, South Dakota and Texas, where sales continue until appropriate regulatory notice and/or approval periods have run. Subsequent information will follow for these states.
This change does not affect the following:
- Renewal commissions for in-force business
- Pending business or related compensation
- In-force policyholder servicing
- In-force policy contractual provisions and benefits such as conversion rights
- New business sales of LTC by Genworth Life Insurance Company and Genworth Life Insurance Company of New York
- New business sales of IncomeAssurance SM, our soon-to-be launched medically underwritten single premium immediate annuity product sold by Genworth Life Insurance Company
While Genworth is suspending new life insurance and fixed annuity sales, we will continue to provide service to our 2.8 million existing life insurance and annuity policy and contract holders. Existing customers and their benefits will not be impacted by this change, and Genworth’s commitment to them remains as strong as ever. Customers can be directed to a message from David O’Leary, U.S. Life Insurance President & CEO, that is posted on Genworth.com.
Transition Rules for New Applications
Regardless of submission method, Genworth will no longer accept new applications for traditional life insurance or fixed annuity products after March 7, 2016.
Life Quick Request (LQR) will no longer be available as of Friday, February 12, 2016, and the Life Quick Request application will still need to be received by March 7, 2016.
Our life insurance products will be removed from WinFlex and other quoting systems as of Friday, February 26, 2016.
We are no longer accepting trials or quick quotes for life insurance.
Our goal is to have all pending new business applications received by March 7, 2016, then placed and inforce by May 4, 2016. We will close applications that have not been issued by May 4, 2016, and we will work with you to help ensure that any policies already issued by that date get placed in a timely fashion.
We will identify any pending incoming replacements involving 1035 money and contact you to see if your customer still wants to proceed with the transaction.
Thank you for your partnership. If you have application questions during the transition period, please contact your New Business Team representative.
Genworth companies include:
Genworth Life and Annuity Insurance Company, Richmond, VA
Genworth Life Insurance Company, Richmond, VA
Genworth Life Insurance Company of New York, New York, NY
Only Genworth Life Insurance Company of New York is admitted in and conducts business in New York.
FOR PRODUCER/AGENT USE ONLY. NOT TO BE REPRODUCED OR SHOWN TO THE PUBLIC.
-  Genworth Financial, Inc. All rights reserved.
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If you have people that need life insurance and they work at least 20 hours a week at time of enrollment you can guarantee them annual coverage through our special arrangement.
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Some of the hottest products in the business just got even hotter. Legacy is currently running a compensation special where commissions increased by 50 bps for all FGL products. Plus all products in “Lite States” are now paying “Heavy State Compensation”
The enhancements are going into effective October 15th so start telling everyone today!
Now for something unbelievable!
All of this is coming at basically no cost ( outside of a slight change to the bonus in Lite states that isn’t coming until 11/20) . Have you seriously considered the value proposition we are offering you?
LibertyMark – leading the industry in accumulation, innovation, and compensation. ( Older ages comp as high as 7% for example 81-85).
LegendMark best in class Monthly cap (up to 3.1%), and Annual point to point (up to 8%) and compensation as high as 8.5%, plus the strongest leverage for income I can find.
AdvanceMark Ultra – Better caps and rates than most competitors, a stronger guaranteed income rider than most competitors, plus comp as high as 9%
SpectraMark – 3-d rider with a newly improved enhanced death benefit and compensation as high as 9%. ( plus approved in CA).
Plus all of the value adds we offer
For IMO’s and IM’s:
1) Great overrides
2) IMO Bonus program
3) IM trip
4) Money for Marketers
5) An unsaturated opportunity
6) Lucrative Compensation
7) Annual IMO Meeting
8) Phoenix AZ February 25th, 26th
9) Internal Marketers Boot Camp Training Program
1) Money for Marketing
2) Client Ads and Sales Kits
3) Income Planning University
4) Producer Summit
5) Application Scrubbing and Pre Sale Suitability
6) Assigned Relationship Manager
7) Incentive Trip
8) New Producers Bonus
9) Excellent Compensation
We are the best place to focus your efforts on for the remainder of 2015 and thru the next year. In fact, if you made a list of what you wanted from a “carrier” partner to make a lead focus for your business and list out all of the products, benefits, and value adds- I bet you have a hard time improving on this line up. But , if you think of anything let me know!