BSMG Blog: Protecting the Future of Families and Businesses

Effective February 16, 2021 and in conjunction with the launch of Lincoln VULONE (2021) and Lincoln SVULONE (2021), Lincoln is announcing pricing updates on the current Lincoln VULONE (2019) and Lincoln SVULONE (2019) to align with the 2021 product pricing.

Effective February 16, 2021, Lincoln will introduce the next generation in long-term care planning and expand its MoneyGuard portfolio with the launch of Lincoln MoneyGuard Market Advantage^SM, pending state and firm approvals. Lincoln MoneyGuard Market Advantage^SM is a variable universal life insurance policy with a long-term care rider.

Our new Lincoln VULONE (2021) suite launches on February 16! It’s the same Lincoln VULONE you’ve always relied on, now with more options. You can continue to offer guaranteed lifetime death benefit protection with market-driven growth potential, while also offering options that can reduce cost and increase your cash value and death benefit protection.

As announced December 10, 2020, on Capital Markets Day by Aegon CEO Lard Friese, Transamerica will discontinue sales of our individual, standalone Long Term Care (LTC) business on March 31, 2021.

Critical Information Center

On our BSMG website you will now find a comprehensive page that includes updates and important content from us, our carrier partners and others in the industry. It’s important that you have access to the most up to date, trusted information from a variety of sources. 

Congress has passed and President Trump has signed into law significant retirement reform which will go into effect on 1/1/2020.  The new law has many provisions which involve expanding and preserving retirement savings, administrative improvements, and revenue provisions.

From the moment we all first received payment for work, we have, either consciously or subconsciously, put a dollar value on our time.

When I was 10 years old, with no earthly expenses, responsibilities, or any other place to be, $10 to mow the lawn at my parents’ house felt like a dream. If it took me an hour to do it, at $10/hour I felt like I was winning big. My expenses were zero, and I was therefore making infinity times my monthly expenses. I had nowhere else to be and no other method of earning, so my opportunity cost was also zero. Every time the lawn would get barely long enough to cut, I’d be asking to do it again, in what I felt like was a chance to cash the same paycheck.

At the end of 2019, two major shifts will happen in the life insurance industry behind the scenes.

• Insurance companies must move to 2017 CSO tables
• Most companies must adopt Principal Based Reserving

What does this mean for our industry?  A lot.

The U.S. House of Representatives easily passed the SECURE Act of 2019 (H.R. 1994) 417-3 on May 23, 2019.  The U.S. Senate currently has its version of retirement reform under consideration – the Retirement Enhancement and Savings Act (RESA) of 2019 (S. 972).  Both acts have many retirement reform provisions involving expanding and preserving retirement savings, administrative improvements, and revenue provisions.

Term Insurance Revolutionized

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