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Your client may not be the latest greatest model, but, with access to 50+ carriers, we can often find a “buyer.” We specialize in impaired risks. Review your declines over the past year, maybe we can help.

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GPAgency's Advance Compensation program is for NEW Term and UL policies sold through Protective AND Legal & General.
Registration closes a 1:00 ET, today (Feb. 23)
Captive Insurance CE Program

Date: Tuesday, February 23, 2021
Time: 2:00 pm to 3:00 pm (EST)
Presented by: Jeremy Colombik, CPA

Hosted by GPAgency, this free CE program is sponsored by Management Services International (MSI) and is accredited for NC Insurance Agents (1 CE).
Please CLICK HERE to register.
Transamerica will discontinue standalone long-term care (LTC) business effective March 31, 2021.
Applications under approved MultiLife cases (worksite and association) will end June 30, 2021. LTC riders on life insurance policies are not affected. The only impacted products are TransCare® II and TransCare® III. Clients with existing policies are not impacted.
Individually Sold, Standalone LTC
•  Paper, fax, and LTC eApp applications must be signed, dated, and received by Transamerica no later than March 31, 2021.
•  Applications for individual coverage received on or after April 1, 2021, will not be processed.
MultiLife LTC - Worksite and Association
•  The last day to submit paper, fax, and eApp MultiLife applications under approved MultiLife cases is June 30, 2021.
•   MultiLife applications received on or after July 1, 2021, will not be processed.

For both individual and MultiLife LTC, agents contracted to sell TransCare® II and TransCare® III products will have their agent agreements amended to "servicing-only agent." Upgrades in coverage will not be allowed after March 31, 2021, unless contractually required by the insurance policy.

Changes to Section 7702 in COVID Relief Legislation
Changes driven by low interest rate environment

As part of The Consolidated Appropriations Acts of 2021, signed into law on December 27th, 2020, a change was made to Section 7702 of the Internal Revenue Code. This change outlined several requirements permanent life insurance policies must meet in order to qualify as a life insurance contract for tax purposes. Given the ultra-low interest rate environment, the change assists the life insurance industry by replacing the statutory interest rate assumptions (from 1984) from a previously hard coded 4% rate to a floating rate. These changes will impact the limits associated with both the definition of life insurance and modified endowment contracts. Courtesy of Securian
Noteworthy Briefs
John Hancock: Beginning May 2, 2021, every producer's anti-money laundering (AML) course-completion date on file at John Hancock must be on or after January 1, 2020, and prior to the signing date of a new business application. Important reminder for producers selling our LTC rider: Most states have adopted the training requirements outlined in the Deficit Reduction Act of 2006 and the NAIC Long-Term Care Model Act. These require producers selling LTC products, including LTC riders, to take an initial 8-hour NAIC Partnership training course, followed by a 4-hour refresher course every two years. All courses must be approved by ClearCert in order to be accepted as valid training. To determine if a course is approved, please visit ClearCert.com/search-courses. 

American National: Effective March 1, 2021, there are several new application forms for their WealthQuest, Century Plus, MYG products. The old forms will no longer be accepted after 2/28/2021. Utilize ExpertApp electronic annuities to ensure you always have the latest application forms.

Prudential: Announces an increase in standard voluntary term life (VTL) guaranteed issue (GI) amounts for employee groups with 5-99 lives. New amounts for eligible lives: 5-9: $30K; 10-49: $100K; 50-99: $150K.
Great Western
GWIC Final Expense 101
When: Feb. 23, 2021, 4 pm CST | Register HERE 
Estate planning — past, present and future 
Title: A Dr. Quincy Krosby Exclusive Commentary: "Navigating the Recovery"
Dr. Krosb will provide a rich discussion around these highly relevant topics:
The Economy:
  • Where is it heading? 
  • The effects on the opening of the economy amd vaccine rollout momentum/normalization
The Treasury Yield:
  • The pace of the inoculations and inflationary expectations
Federal Reserve:
  • How are expectations being telegraphed of when it expects to begin reducing its balance sheet?

When: Thursday, February 25, 2021, 2 p.m. ET

Sign up today to be sure you reserve a spot. 
John Hancock
Estate planning — past, present and future 
While there is much anticipation of and speculation about what might happen in the future, a lot of what is predicted we have already seen. Join Ana Medinaceli Canelos, Director, as she explores where we have been, looks at the current law and dives into where we might be heading — all with the aim of uncovering the flexible opportunities and solutions we should be focusing on today to better help high-net-worth clients.

When: Wednesday, March 3, 2021, 2 p.m. ET

Sign up today to be sure you reserve a spot.  REGISTER HERE
New Protection VUL
Guaranteed protection with full market exposure — plus so much more!

For life insurance clients looking for strong, guaranteed protection with equity-based growth potential, show them how the new Protection VUL can give them the confidence to “stay the course” with their financial plan by offering a competitive guarantee to age 100 — and so much more. Product experts Justin Kemp, protection product manager, and Jonathan Mathews, director, Product Intelligence, will review this new Protection VUL — and how to grow your sales

When: Wednesday, March 10, 2021, 1 p.m. ET

Sign up today to be sure you reserve a spot. REGISTER HERE

Protection VUL talking points: How does the new Protection VUL enhance your “Protection” product portfolio? Click HERE.
Click on video to view.
Carrier Sales Aids
John Hancock
Beneficiary Check

We all know the need for periodic beneficiary checks to avoid any issues down the road. John Hancock has a great comprehensive resource on beneficiaries.

Gerber Life’s Children’s Whole Life Insurance
A Meaningful Gift That Lasts a Lifetime with the Grow-Up® Plan
Child-size premiums – that never increase
Coverage doubles automatically during age 18
• Guaranteed future insurability for your child (Regardless of health, occupation or anything else, as
an adult, will have four opportunities to buy additional insurance.)
• Coverage available up to $50,000 for children 14 days to 14 years old
An affordable way to help secure a child’s financial future (and their children as well).
Sample rate: 2 year old, $20,000 coverage, $14 a month.

Campaign Starters

Sagicor suggests these turnkey campaigns, designed to address the concerns many Americans grapple with today, such as:
  • The need for affordable financial protection to cover their mortgage, in a booming housing market
  • The demand for secure savings options in a prolonged low interest rate environment
  •  Legacy planning options that also give retirees protection and financial flexibility for their future
Pacific Life
From the Webinar Mastery Playbook: Host Engaging Webinars to Help Build Your Business

Do your current and future customers know you're an expert in the life insurance industry? Webinars are a popular way to share your knowledge and engage your community to help grow your business. Here are some tips to host engaging webinars that can strengthen your reputation and help build credibility with your audience. Read this edition of Broad Market Insights to learn more.
Mutual of Omaha

The LTCi 2021 Tax Advantages Flyers

Download the flyers now:
2021 Tax Tables

Select Income Rider (SIR) for LIRPs: Enhance accumulation values on AIG's Max Accumulator+ II product.

To avoid MEC status, use AIG's Period Certain SPIA to fund life insurance. The indicate their sweet spot is clients in their 50s.
February is Insure Your Love Month!
Start the Conversation Today!

This campaign runs during the “month of love” because the basic motivation behind the purchase of life insurance is love! To help you start the conversation about life insurance, here are a few resources:
2021 e-Pocket Tax Tables
All the relevant tax numbers for 2020 and 2021, plus information on tax brackets, payroll taxes and much more.

Carrier Promotions
American National:
Annuity & Life Bonuses
January 1, 2021 – March 31, 2021

Cash for Annuity Sales
Earn up to $1,500 cash bonus for annuity sales, with double the sales credit for policies that originate in ExpertApp. (American National's Suitability Training)
Cash for Life Sales
Earn up to $3,000 cash bonus for life sales.

<<< Click on Flyers for details.
Want to refer back to a previous digital update?
Go to the bottom right of our home page (www.gpagency.com) for previous issues of our digital updates.
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