{December Sagicor Minute} Rate reminder, year-end processing and sales tips

Having trouble viewing this page? Click here to view as webpage.

DECEMBER 2023 | THE SAGICOR MINUTE

THE SAGICOR MINUTE

This month, we're featuring an updated Sage IUL comparison flyer, a Milestone MYGA rate reminder and important year-end processing deadlines.

SALES

Sage IUL for powerful distribution potential

Inflation is now the top concern for retirees and workers — ahead of recessions, volatility, war and rising interest rates — with 77% looking for additional ways to save more for retirement.¹ This may help explain why 2022 was a record year for indexed universal life (IUL) insurance sales.² Since consumers named accumulation and access to cash value as top considerations when making IUL purchases, remember to look beyond maximum illustrated rates when comparing client options.

SEE HOW SAGE IUL STACKS UP

RATES

Milestone MYGA rate reminder

Don’t miss out on Milestone Multi-Year Guaranteed Single Premium Deferred Annuity's (Milestone MYGA) competitive rates! For faster service and higher commissions, remember to use our eApplication.

National Milestone MYGA rates

MILESTONE MYGA RENEWAL COMMISSION PROGRAM DETAILS

GET THE CLIENT LADDERING FLYER

POST THE CLIENT VIDEO

TIPS & TRICKS

Submit RMD requests and new business applications now

2023 year-end deadlines for annuity Required Minimum Distributions (RMDs) and new life insurance and annuity applications will be here soon! Here’s everything you need to know:

ANNUITY RMD REQUESTS

2023 RMD forms must be received in good order by Friday, December 15, 2023. Please use THIS FORM to ensure timely handling. DO NOT use any other form.

NEW BUSINESS APPLICATIONS

All new business requirements must be satisfied and funds received by the following cutoff dates:

PRODUCT/DEADLINE

Life Insurance: Indexed – Friday, December 22

Sage IUL
WealthCare Indexed Single Premium Universal Life (WealthCare)

Life Insurance: Non-Indexed – Thursday, December 28

Sage Whole Life

Annuities – Thursday, December 28

Milestone MYGA
Single Premium Immediate Annuity (SPIA)
Sage Choice Single Premium Deferred Annuity (Sage Choice)

DID YOU KNOW

Mass affluent households are an underserved market

The life insurance needs gap isn’t a recent development, but new research from LIMRA shows a surprising find among an unexpected group — those with annual household incomes above $150,000. Data reveals there are over 17 million mass affluent households who remain underinsured, suggesting they need professional guidance navigating their options and understanding the features, benefits and advantages of products like indexed universal life insurance.⁵

For more information, please call the Producer Resource Center at 888-724-4267, ext. 4680 or email PRC@SagicorLifeUSA.com.

Visit us online at SagicorProducer.com.

¹Natixis Investment Managers. “The 2023 Natixis Global Retirement Index.” September 12, 2023.

²LIMRA. “A Deeper Dive: 2022 Indexed Universal Life Insurance Sales.” October 17, 2023.

³Years referenced are contract year terms. Interest rates are current as of October 25, 2023. Current rates are subject to change at any time and at the discretion of Sagicor Life Insurance Company.

⁴Milestone MYGA’s Guaranteed Minimum Interest Rate, following the Initial Guaranteed Interest Rate, is currently 1.25%.

⁵LIMRA. “2023 Insurance Barometer Study.” October 10, 2023.

Products issued by Sagicor Life Insurance Company. Home Office: Scottsdale, AZ. Products not available in all states, and state variations may apply. Sagicor does not provide tax or estate planning advice. Your client(s) should consult with their tax advisor(s). Annuities and life insurance products have limitations and restrictions, including surrender charges. Sagicor issues other fixed annuities and life insurance products with similar features, benefits, limitations and restrictions. Contact Sagicor for more information. Policy Forms: ICC171017, 1017CA, 1017FL, 1017, 1017ND, ICC191021, 1021CA, 1021FL, 1021, 1021ND, ICC091009, 1009, and 1009FL. Contract Forms: ICC173008, 3008CA, 3008FL, 3008, 3008ND, ICC093003, 3003CA, 3003FL, 3003, 3003MT, 3005, 3005AZ, 3005CA, 3005DE, 3005.11FL, 3005GA, 3005IA, 3005ID, 3005IL, 3005IN, 3005MA, 3005MD, 3005MN, 3005MO, 3005NC, 3005ND, 3005NE, 3005NJ, 3005.11OH, 3005OR, 3005PA, 3005RI, 3005TN, 3005TX, 3005UT, 3005VA, and 3005WA.

Sagicor is rated “A-” (Excellent) by A.M. Best Company (4^th best out of 16 possible ratings), affirmed as of October 20, 2023. Rating and guarantees based on the claims-paying ability of Sagicor Life Insurance Company.

Insurance Professional Only. No Public Distribution.

SMN-2312 | December 1, 2023