DOL fiduciary rule opponents want to push implementation back until 2019
Critics of the DOL fiduciary rule are urging the Labor Department to delay its implementation until January 2019 - or possibly longer.
"To provide needed certainty, reduce harm to investors and limit unnecessary 'sunk' costs associated with implementing requirements that the department ultimately eliminates or modifies, the department should immediately - by August 15, 2017 - issue an interim final rule delaying the January 1, 2018, applicability date to January 1, 2019," Investment Company Institute acting general counsel Dorothy Donohue and deputy general counsel David Abbey
wrote in a comment letter last week.
The U.S. Chamber of Commerce went a step further in its
comment letterand called for the transition period for the regulation to be extended until June 30, 2019, "or a later date if needed by the department."
Happy 100th Birthday! There goes your Life Insurance
Age Limits are increasing problem for life insurance industry
When Gary Lebbin turns 100 years old in September, hanging over any celebration will be one very costly fact: His life insurer aims to cancel two policies totaling $3.2 million in death benefits.
The Lebbin family has run up against a provision that exists in many life-insurance policies. Policies have expiration dates, and the one in the Lebbin family's two contracts is age 100 for the policyholder. It is a standard feature of permanent life insurance, a product combining a tax deferred savings component with a tax-free death-benefit. The provision calls for the termination of the death benefit and payout of all of the built-up savings when the policyholder reaches the specified age.
Even the best salespeople fall into a
slump sometimes. The trajectory to greatness is never a straight line. Instead, people falter and fall all along their way to achieving their higher life insurance, disability insurance and annuity sales goals.
For salespeople, whether they are a business owner or part of a larger organization, entering a
sales slump is one of the worst professional situations imaginable.
SBLI has a program that will allow clients 18-60 applying for $500,000 or less to purchase coverage and never have to do an exam.
We feel like saving time in underwriting and delivering a better customer experience is worth the extra cost. In fact, beginning April 3, 2017, we will be contacting you about the option of moving a case each time we receive an application that fits into the parameter of the program.
The TBA Mobile App was designed to give advisors the ability to be more efficient while away from the desk. This app has all of the tools needed to create sales as well as process paperwork more efficiently. It can be downloaded on your phone or tablet. It is available to download for free from the app stores of A
ndroid, and Kindle.