South Dakota and New Mexico Regulations - Effective Dates
BSMG
Fiduciary,
Insurance Industry News
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5 Apr 2022
South Dakota Regulation - Goes into effect January 1, 2023
Read MoreSection 1035 Exchange of Life Insurance with Policy Loans
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Life Insurance,
Fiduciary,
Insurance Industry News
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17 Mar 2022
IRC Section 1035 allows Tax-Free Exchanges of life insurance policies in a gain position (i.e. gross cash value greater than adjusted cost basis) so that cash values can be easily transferred to more financially efficient policies. Sometimes greater death benefit and/or lower premium can result from the exchange in addition to desirable contract guarantees.
Read MoreJohn Hancock announces New Protection IUL – Increased Pricing
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Life Insurance,
Fiduciary,
Insurance Industry News
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24 Feb 2022
Effective March 4th, 2022 John Hancock Protection IUL (2021) contract will be replaced with Protection IUL (2022). Based on our initial testing, the pricing is increasing with most designs and ages.
Read MoreNAIC New Best Interest Standard for AL, AZ, AR, CT, DE, IA, ID, KY, ME, MI, MS, MT, NE, ND, OH, RI, TX, & VA
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4 Aug 2021
Arizona, Arkansas, & Iowa Regulation:
Agents who have already completed a four-hour NAIC training course prior to January 1, 2021, must complete one of the following by July 1, 2021:
Read MoreNational Guardian Life - Product Enhancements and Pricing Changes to EssentialLTC
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Life Insurance,
Fiduciary,
Insurance Industry News
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18 Mar 2021
**RELEASED BY National Guardian Life**
A product that can now do more
We have been listening to your feedback and are excited to announce your suggestions were used to enhance EssentialLTC! The changes are geared toward making it easier to sell, and the new features will allow you to offer your clients a product that can do more.
Read MoreJohn Hancock - Changes to product offerings in New York
BSMG
Life Insurance,
Fiduciary,
Insurance Industry News
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18 Mar 2021
John Hancock has long maintained separate products and processes for the New York market where they operate as the John Hancock Life Insurance Company of New York and serve approximately 180,000 customers. This approach generally serves all stakeholders well, but the separate products and processes create a level of complexity and inefficiency. After a thorough review of their new business activities, they've made the difficult choice to reduce their product portfolio in New York and will no longer offer the following products for sale:
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