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Webinar: Multi-Generational Asset Allocation Modeling
 

Join Provada and Lincoln Financial Group on Thursday, January 5 at 10:30am PST as we discuss how you can help your clients integrate life insurance into the multi-generational asset allocation model and bring them new ideas for all aspects of their financial portfolios. This week's webinar will highlight:

  • Features and benefits of the Lincoln Life GuaranteeUL.
  • A new way of looking at asset allocation modeling.
  • How life insurance can positively impact the risk-return possibilities of the next generation.

Start 2012 off right - make sure you join us for this exclusive webinar!

Thursday January 5, 2012 - 10:30am PST

Reserve Your Spot for the Webinar!

Tags: Life Insurance, Lincoln Financial

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Notice of Compensation Change for TransACE Survivor 2010
 

 

Transamerica is eliminating commissions on premium received in excess of target in any policy year for the TransACE Survivor® 2010 product. Notice of Compensation Change for TransACE Survivor 2010

This change will take effect on policies with application signature dates of January 17, 2012 and later. Applications with a signature date prior to January 17, 2012 must be received in the Cedar Rapids Administrative office by end of business on January 31, 2012.

If you have any questions, please contact your Provada representative at (415) 369-9990.

 

Tags: Transamerica

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TrueTerm Rates Are Going Down!
 

As of November 21, 2011, Lincoln Benefit Life has reduced rates for their TrueTerm product, making it a more competitive solution in their life portfolio. The rate changes will reduce rates in select cells up to 20%, with typical rate reductions in the range of 5-15%. (Please note: Not all rates changed, but there will be no rate increases.)

Here are the key facts to note:

  • Decreases were implemented for 10, 15, and 20-year guarantee periods
  • Decreases focus on the $1 - $4.9 million band
  • Rate decreases are for males and females, ages 45–65, Standard Select & Standard Non-Tobacco. For select ages, Preferred will also be reduced

TrueTerm policies issued before November 21, 2011, with an application dated prior to October 21, 2011, must follow regular replacement rules in order to receive the new rates.

Tags: Life Insurance

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Provada Launches Exclusive Capital Transfer Illustration Software
 

Introducing our exclusive capital transfer illustration software. Cap-Tran is a  revolutionary tool which allows trusted advisors to show their clients how purchasing life insurance from IRA, CD or annuity assets makes financial sense.

Provada's capital transfer illustration software:

  • Aids in maximizing wealth transfer for your clients,
  • Is easy to use and easy to understand,
  • And is only available for Provada agents.

Create significant wealth for your clients while increasing your book of business. Learn how you can get access to Provada's Capital Transfer Illustration Software today.

 

Visit www.provada.com/capitaltransfersoftware to learn more now!

 

Tags: Life Insurance

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Capture More Business in the Middle Market Using Rapid eUnderwriting
 

Join Provada and Metlife on Thursday, September 15 at 10:30am PST to learn more how you can take advantage of the Rapid eUnderwriting process to capture more business in the middle market. This week's webinar will feature discussion on:

  • How rapid eUnderwriting is different than traditional underwriting.
  • The 3 simplified steps that make the process more efficient for you and your client.
  • Guidelines for qualification as well as specific restrictions and available enhancements.

Thursday September 15, 2011 -- 10:30am PST

Register for this week's webinar!

Add this webinar to your calendar

Tags: Underwriting, Met Life

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Ownership and Beneficiary Guide: Personal Policies for Family Protection
 

As promised in Tuesday's blog post, the following is the opening section of our Ownership and Beneficiary Guide, dealing with personal policies for family protection. The other sections of the Guide dealing with other typical situations will be published over the next few weeks. In the meantime, if you wish to receive a copy of the complete Guide, please send me an e-mail addressed to bob@provada.com. 

Role

Who Should Fill it

Observations
Owner Insured In most situations, it is neither necessary nor desirable to name a third party as owner, not even a living trust

If There Is a Living Trust
Primary Beneficiary [name(s) of current trustee(s)], or their Successors, Trustee(s) of the [name of trust], dated [date of trust] Generally, it is considered advisable to name the living trust as beneficiary, but if the insured wishes to name his or her spouse as primary beneficiary and the living trust as contingent beneficiary, that is acceptable
Contingent Beneficiary Estate of Insured If the spouse is named as primary beneficiary, then the living trust would be named here

If Married and There Is NO Living Trust
Primary Beneficiary Spouse of Insured In special situation, a different beneficiary could be named, but beward of community property issues in community property states
Contingent Beneficiary Children of insured in equal shares per stirpes; provided, however, if any beneficiary is under age [see observation], that beneficiary's share shall be paid to [name of responsible adult], as Custodian for that beneficiary until age [same as above] under the [applicable state] Uniform Transfers [or Gifts] to Minors Act; Successor Custodian:  [name of another responsible adult] The individuals named as Custodian and Successor Custodian would normally be the same persons who would be named as Trustee and Successor Trustee under a Living Trust.  The age to which distribution can be deferred differs from state to state and should be checked under the applicable state law, which can be Googled.  It is recommended in most cases that it be as late as possible, such as age 25 if in California for testamentary transfers.  Most states have adopted the Uniform Transfers to Minors Act, but some states may still have only the Uniform Gifts Act

If a Single Parent and There Is NO Living Trust
Beneficiary The above would be the primary beneficiary and the estate of the insured the contingent beneficiary In all of these situation, if all beneficiaries are adults, they can be named without a Custodian

 

Bob Burton LLB CLU ChFC AEP, Director of Advanced Planning
415-369-9990, x116 -- bob@provada.com

Tags: Life Insurance

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The Importance of Policy Ownership and Beneficiary Designations
 

Life insurance is typically one of the most important assets owned within a family or a business, and how the proceeds are distributed at the insured’s death is an essential and integral part of the family’s estate planning and/or the business’s business planning.  The many tax benefits of life insurance are also key to its effectiveness in all situations.

Yet too little attention is often paid to the proper policy ownership provisions and beneficiary designations.  This can lead to a variety of serious problems, ranging from the wrong people getting the proceeds, children being too young to manage the proceeds for themselves, loss of tax benefits, unwanted tax consequences, or other unexpected adverse results.

In order to help our agents avoid all those problems, we have prepared a comprehensive “Ownership and Beneficiary Guide” that is available upon request to me at bob@provada.com.  We will also be publishing each section of the Guide in subsequent blog posts over the next few weeks, the first section to be posted later this week.

We hope you find this Ownership and Beneficiary Guide to be helpful to all of you as you grow your businesses.

Bob Burton LLB CLU ChFC AEP, Director of Advanced Planning - 415-369-9990, x116 - bob@provada.com

Tags: Life Insurance

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Making Sense of Return of Premium Term
 

Join Provada and ING on Thursday, September 1 at 10:30am PST as we discuss how you can determine when Return of Premium Term makes financial sense, when it makes emotional sense, and when it makes no sense at all. This week's webinar will highlight:

  • The ins and outs of Return of Premium Term.
  • How ROP term can aid in both business and personal planning.
  • Case studies that successfully employ ING's ROP Endowment Term as a solution.

Thursday September 1, 2011 -- 10:30am PST

Register for this week's webinar!

Add this webinar to your calendar

Tags: ING

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