November 17, 2011
Make sure your Producers are ready to sell our popular CommandMarkSM fixed indexed annuities by ensuring they meet Phoenix (PHL Variable Insurance Company) appointment criteria!
Even though your Producers may be contracted with Legacy and appointed with one or more of our other carriers, their appointment with PHL Variable can be declined if they have:
•
Open or pending bankruptcy.
Unresolved tax lien, judgment, collection, charge-off, and/or foreclosure debt that totals over $20,000. “Unresolved” means the Producer does not have an accepted payment plan in writing with proof of regularly scheduled payments being made.
Felony or certain misdemeanor convictions or regulatory issues (FINRA and state insurance department).
In addition, these PHL Variable licensing and contracting procedures may differ from our other carriers:*
LIMRA/AML training:
–
PHL Variable Producers are required to complete LIMRA/AML training once a year.
Each year, Producers must review and understand the Phoenix Producer’s Guide to Anti-Money Laundering, posted on the LegacyNet® Compliance page as well as the CommandMark product pages.
States requiring appointment prior to solicitation: UT, MT, PA, CT.
Wholesalers must be licensed and appointed in these states to receive overrides: CA, GA, KY, LA, MA, MT, PA, SC, VA, WV.
Questions? Call your Legacy Relationship Manager, 800-395-1053, Ext. 4002.
October 21, 2011
Because of upcoming holidays and/or bank closure days, we have changed our commission schedule as follows:
Holiday or Bank Closure
Commission Payment Date
Date New Business Must BeReceived To Be Paid This Week
Veterans Day (week of 11/7)
Thursday, November 10
Tuesday, November 8
Thanksgiving (week of 11/21)
Wednesday, November 23
Monday, November 21
Christmas (week of 12/19)
Thursday, December 22
Tuesday, December 20
Legacy offices will be closed November 24 and 25 for Thanksgiving, December 23 and 26 for Christmas, and January 2 for New Year’s; Dell offices will be closed November 24, December 26, and January 2.
Be sure to keep Legacy informed of your current information, including e-mail, phone, fax, and address to ensure you receive timely communication and commissions from Legacy. In addition, most state departments of insurance require that Producers provide a valid address and e-mail address and keep them up to date; some states even impose a fine for not updating contact information within a certain timeframe. For more information, check the state DOI where you are licensed.
Approval must be obtained before using advertising materials mentioning Legacy and/or the carriers or products we represent. In addition, approval is required for all material used to generate interest in our carriers’ products, including general descriptions of annuities or descriptions of how annuities might be used to further particular financial objectives. This applies to all media, including print, video, e-mail, and websites. Advertising violations can result in serious consequences, including fines of up to $10,000 and termination. For more information, see Legacy’s Advertising Guidelines on the Compliance page.
As recently announced, American National Insurance Company’s BenchMark Reliance and BenchMark 500 Ten SE annuities may not be sold to New York residents. In the past, solicitation was allowed if a New York resident made frequent trips to another state on an extensive basis for business or personal reasons, and not specifically to purchase insurance. However, to ensure compliance with directives from the New York Department of Insurance, no American National Insurance Company contracts can be sold to New York residents, unless the client can confirm in writing that he or she has another residence outside New York and spends at least 50% of his or her time at the non-New York residence. In that case, the application can be taken in the non-New York second residence state and must reflect the client’s address in that state. Also, the contract must be delivered to the non-resident address, and all of the pre- and post-issue transactions must be coordinated outside of New York.
Compliance with this notice is important, as the BenchMark Reliance and BenchMark 500 Ten SE are not approved in New York, and American National Insurance Company is not authorized to conduct business in the state. We will have to return any annuity applications that do not comply with this requirement.
Earlier this year, we announced that American National will no longer accept trust documents when a trust is owner and/or beneficiary and that a Verification of Trust Agreement form would be required (Form AN1944F). Please disregard this notice. Due to feedback from the field, we are in the process of revising this form for use with annuities and to reduce the number of fields requiring information. Until a revised form is available on The Forms Store, please do not send the current form. Instead, you must provide the title page of the trust, the trustee page, and the signature page when a trust is listed as beneficiary and/or owner. We apologize for any confusion or inconvenience.
As always, thank you for your business.
Have questions? Call Marketing Field Support at 888-457-0431.
October 17, 2011
Despite the volatile market, Fidelity & Guaranty Life Insurance Company rates have held steady for October. If you haven’t taken a look at AmeriMarkSM Freedom and AdvanceMarkSM recently, now’s the time to do so! Check these Quick Reference Sheets for more information.
Have questions or need sales ideas? Call your Legacy Relationship Manager today at 888-343-0883.
Thank you for your business!
AmeriMark Freedom Series and AdvanceMark flexible premium deferred fixed indexed annuities are issued by Fidelity & Guaranty Life Insurance Company, Baltimore, MD; products distributed by Legacy Marketing Group®. Products, features, and riders may not be available in all jurisdictions. Certain restrictions apply. Refer to contracts, Earnings Rate Updates, sales guides, and State Approval Matrices for details. Form Nos: OM-CEIAII-0708-0, OM-CEIAII-0708-B, OM-CEIAII-0708-0-1, OM-CEIAII-0708-B-1, FGL FPDA-EIA (2005); FGL FPDA-EIA-C (3-08), et al.
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FOR BROKER USE ONLY. NOT FOR USE WITH CONSUMERS.
September 21, 2011
Unless you’ve been on vacation in a cave with no access to e-mail, Internet, text, television, or newspaper, you likely know how much the fixed annuity market has been changing. Each month brings something new and it seems like everyone is in fire sale mode. But don’t be afraid! The beauty of doing business with Legacy is our depth of carriers and products. Take a look at our Quick Reference Sheets and you’ll see some great opportunities!
Call your Legacy Relationship Manager at 888-860-5271 TODAY for more information.
Products distributed by Legacy Marketing Group®. Products, features, and riders may not be available in all jurisdictions. Certain restrictions apply. Refer to contracts, Earnings Rate Updates, sales guides, and State Approval Matrices for details. AmeriMarkSM Freedom Series and AdvanceMarkSM flexible premium deferred fixed indexed annuities are issued by Fidelity & Guaranty Life Insurance Company, Baltimore, MD; Form Nos: OM-CEIAII-0708-0, OM-CEIAII-0708-B, OM-CEIAII-0708-1, OM-CEIAII-0708-B-1, FGL FPDA-EIA (2005); FGL FPDA-EIA-C (3-08), et al. CommandMark Series single premium deferred fixed indexed annuities (11LIA, et al) are issued by PHL Variable Insurance Company (PHLVIC), Hartford, CT; PHL Variable Insurance Company is not affiliated with Legacy Marketing Group. PHLVIC is not authorized to conduct business in NY and ME.
About Bonus Products—Crediting amounts and interest rates may be less for contracts with a premium bonus than for similar non-bonus annuities.
*
Spread shown applies to AmeriMarkSM Freedom 7, effective September 1, 2011. Indexed interest rates are subject to a cap or spread rate. Cap and spread rates subject to change at the discretion of Fidelity & Guaranty Life.
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Join us October 14–21, 2011, on a voyage to Spain and Portugal.
Day 6: Cadiz, Spain Come ashore in a land credited with being the oldest inhabited city of the Western world—approximately 3,000 years old. Historical Cadiz (pronounced Ca deeth) is wrapped on three sides in pristine, beckoning white beaches. On your day trip, walk along the surf and dunes or experience centuries of architecture by visiting the city's beautiful churches, fine museums, or stunning 18th century golden-domed cathedral.
Unlike much of Spain, Cadiz isn't overrun with tourists. Its primary source of income comes from exporting fine sherry, seafood, and produce. So make sure to visit a tapas bar or restaurant and try some of the local Andalucian cuisine—flamenco eggs, fried fish, stuffed artichokes, and gazpacho are at the top of the list!
Oct. 14–DAY 1
Board in Barcelona, Spain
Oct. 15–DAY 2
Palma de Mallorca, Spain
Oct. 16–DAY 3
Day at Sea
Oct. 17–DAY 4
Malaga, Spain
Oct. 18–DAY 5
Gibraltar, United Kingdom
Oct. 19–DAY 6
Cadiz, Spain
Oct. 20–DAY 7
Portimao, Portugal
Oct. 21–DAY 8
Disembark in Lisbon, Portugal
Click on links above to view previous daysof this incredible voyage!
Become captivated with Cadiz. Just $3 million in qualifying premium will get you and a guest there! For sales tips to help you qualify, call Marketing at 888-471-0632.
Visit LegacyNet® for trip details and rules.
Premium used to qualify for this trip cannot be used to qualify for any otherLegacy-sponsored trip.
“Within the first month, we wrote $2.5 million in annuity premium that we wouldn’t have gotten without this program!”
—Pam D.
“In the last 60 days, I have written more life and long-term care insurance than in the previous eight years!”
—Stuart B.
“The training has been invaluable. We would pay the cost of admission again.”
—Don H.
Identify the financial buying attitude of prospects and clients in less than 3 minutes
Understand your clients’ deepest motivations.
Stimulate clients to interact and talk about themselves.
Turn nearly everyone you know into a client.
Discover a prospecting tool that sets you apart.
Increase sales through multiple product lines!
Legacy’s Make Your Legacy Real™ program makes it possible!
Learn more about this program, and identify YOUR core attitude!
Click here for instant access to the 3-minute survey.
With only a $300 nonrefundable deposit due at registration, this two-day program is offered at the exclusive price of $1,450 for Legacy-contracted Producers.
We’re so confident in the results that if, at the end of Day One, you decide not to continue with the full program, $1,150 of your registration fee is on us!
Next Program
June 9–10
Chicago, ILWestin O'HareChicago-Rosemont
Seating is limited, so sign up today!
For more information,
call 800-395-1053, Ext. 4002.
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1. Based on research by Wayne Nance, Founder of Real Life Management®.
May 16, 2011
Legacy has introduced two new fixed indexed interest crediting options!* These innovative index-linked additions increase opportunity for diversification and are designed to help consumers safely capitalize on increases in the market.
Available with the AmeriMarkSM Freedom Series and AdvanceMarkSM Series of fixed indexed annuities is a new three-year monthly average option featuring a low spread instead of a cap.
The second new crediting option is the Declared Rate on Gain Option, available with AdvanceMarkSM annuities.
To check state approvals and to find more information about these new strategies, see www.legacynet.com or contact your Wholesaler for details!
AmeriMarkSM Freedom Series and AdvanceMarkSM Series flexible premium deferred fixed indexed annuities are issued by OM Financial Life Insurance Company, Baltimore, MD; products are distributed by Legacy Marketing Group®. Subject to state availability. Certain restrictions may apply. Refer to contracts, Earnings Rate Update, sales guides, and State Approval Matrix for details. Form Nos: OM-CEIAII-0708-0, OM-CEIAII-0708-B, OM-CEIAII-0708-0-1, OM-CEIAII-0708-B-1, et al. FGL FPDA-EIA (2005); FGL FPDA-EIA-C (3-08), et al.
“S&P 500®” is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by OM Financial Life Insurance Company. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of purchasing the Product.
Available with new sales starting May 16, 2011. Check State Approval Matrix for availability.
**
Rates effective May 16, 2011, and subject to change.
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April 1 through June 30, 2011, earn up to $1,000 for every two applications issued with Enhanced Care Rider®.
2 PremierMark® SE apps with ECR = $1,000!
1 PremierMark® SE app with ECR + 1 EnhanceMark® app = $750!
2 EnhanceMark® apps = $500!
The more you sell, the more you earn! Bonuses are calculated on every two eligible applications, based on the order of commission payment.
With the diminishing availability of long-term care insurance, Enhanced Care Rider® is a much-needed solution for clients who:
May not qualify for LTCI.
Can’t afford LTCI.
Want to supplement an existing LTCI policy.
ECR increases your client’s annuity value when the benefit is triggered. Benefit dollars can be withdrawn without surrender charges or MVA and used to pay for ANY expense, including the high costs of long-term care.
Click here for bonus program rules. And visit LegacyNet® for all the information you need to sell ECR—including a benefit calculator. Call 888-343-0397 or your Wholesaler for details.
Annuity products and rider are issued by Investors Insurance Corporation, Wilmington, DE, and distributed by Legacy Marketing Group®. Refer to rider, sales guide, and State Approval Matrix for details. Enhanced Care Rider® is not long-term care insurance and has limitations. With PremierMark® SE Series annuities, the rider is optional and has an additional cost.
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May 9, 2011
There’s going to be a new crediting rate option in town, and it’s sure to get people talking. Imagine a three-year monthly average strategy with a spread as low as 0.25% applied at the end of the term!
Say what?
Watch your e-mail next week for additional information on this and another new option—then get ready to sell!
If you just cannot wait that long, call your Legacy Relationship Manager at 888-860-5271 TODAY for more information.
Subject to state availability. Certain restrictions may apply. Refer to contracts, Earnings Rate Updates, sales guides, and State Approval Matrices for details.* Rate effective May 16, 2011, and subject to change.
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May 6, 2011
You worked hard to close that sale. The last thing you need is to have your business returned because of incomplete training requirements. Below is a list of training requirements you must complete before we can start issuing your new business and paying your commissions. The links take you to information you can use to complete your requirements (to access these links, you must first log on to LegacyNet®):
·
Product-Specific Suitability Training—Required for all OM Financial Life Insurance Company Producers and for American National Insurance Company and Investors Insurance Corporation Producers in states that have implemented the NAIC revised suitability model regulation.
Legacy Anti-Money Laundering (AML) Training—Required for all American National Producers.
Understanding Fixed Indexed Annuities—Required for American National and Investors Producers who solicit fixed indexed annuity business in states that have not yet implemented the NAIC revised suitability model regulation.
LIMRA AML Training—Proof of completion required for all Producers.
E&O Coverage—Proof of coverage required for all Producers.
This information also appears on the “Helpful Information” page of LegacyNet®, along with links to popular LegacyNet® pages that can help you run your business. You can access this page anytime you’re on LegacyNet® by clicking the “Helpful Information” tab at the very top of each page.
Florida’s approval of Old Mutual’s revised annuity suitability form for seniors age 65 or over means you can now fill out one single form instead of two!
Effective immediately, the new Old Mutual Florida Senior Suitability Acknowledgement Form (Form # ADMIN 5603 LMG FL) must be submitted when selling to Florida residents age 65 and over. The old forms—the standard OM Suitability Acknowledgement Form (ADMIN 5593) and the previously approved OM Florida Suitability Acknowledgement Form (OMAD 6255)—will be accepted until June 6, 2011. After this grace period, new business processing may be delayed if the new form is not received. For a list of important differences between the new and standard forms, and to link to the new form, see LegacyNet® Need To Know.
Please note: Producers are still required to complete the Florida-mandated Replacement Comparison Worksheet (OMAD 6256) when an application for any Florida resident of any age involves replacement or exchange of any life or annuity product. And Producers selling to Florida residents under age 65 are still required to complete the standard OM Suitability Acknowledgement Form (ADMIN 5593).
The crossing of state lines by a Producer or proposed applicant/owner (“applicant”) for the purpose of selling or purchasing insurance products can violate state regulation unless:
The application is solicited in the applicant’s state of primary residence (see exceptions below).
The application is taken and signed in the applicant’s state of primary residence.
The annuity contract is delivered in the applicant’s state of primary residence.
The initial premium (if a check) is physically delivered in the applicant’s state of primary residence.
Out-of-state applications may be acceptable if the sale:
Is to an applicant who maintains either a secondary residential address in the state where the application was solicited and signed.
Is to an applicant who maintains a business (or works in a business) in the state where the application was solicited and signed.
In the above situations, delivery of the annuity contract must take place in the same state where the application was signed.
Takes place in a state where the Producer has a permanent business office. A Post Office Box address does not qualify as a permanent business office.
In addition, Producers appointed with OM Financial Life Insurance Company must:
Be appointed with the Company in the state where the application is solicited and signed and maintain a permanent business office in that state.
Submit a fully completed and executed “Non-Resident Sales Acknowledgement Form” Form (OMAD 6074) if submitting an application taken in a state other than the applicant’s residence state.
—
This form is required effective immediately; however, new business processing will not be delayed until June 6, 2011. After that date, new business will be delayed or possibly returned if the form is not received.
Submit to Dell a properly executed Delivery Receipt indicating the city and state where the annuity contract was delivered.
See LegacyNet® Need To Know for details.
Beginning July 1, 2011, Kentucky requires that a state-specific buyer’s guide be presented to each annuity applicant at point of sale. The Buyer’s Guide to Fixed Deferred Annuities With Appendix for Equity-Indexed Annuities, ADMIN5606, will be available on The Forms Store prior to July 1, 2011.
BTNLMG050611
April 26, 2011
Although tax filing season is officially over for most people, your clients’ financial future is still top of mind. A few things you may have missed in April can help your clients and help you. It’s not too late to take advantage of these opportunities:
Information is critical.To help understand your clients’ planning needs and make a suitable recommendation, use our Financial Profile to gather vital financial information. This tool is not meant to replace any required suitability documents but can be valuable in the data-gathering process. Please check our Compliance page on LegacyNet® for state-specific suitability regulations.
Ask your clients, “What will be your legacy?”Our “What Will Be Your Legacy?” kits can make it easier for you to start a conversation with prospects and clients about the importance of putting their finances in order. Each kit contains a Financial Profile, an Annuity Advantage brochure, and a Five Wishes Living Will that guides them through a sensitive process while they are still able to make decisions for themselves.
Call TODAY and request your free kit. If you’re contracted with Legacy, we will send you one “What Will Be Your Legacy?” kit free! Additional kits can be ordered online through the Legacy Store. Use this valuable tool:
Call your Legacy Relationship Manager at 888-860-5271 TODAY to request your free “What Will Be Your Legacy?” kit!
Enhanced Care Rider® is issued by Investors Insurance Corporation, Wilmington, DE, and distributed by Legacy Marketing Group®. Refer to rider, sales guide, and State Approval Matrix for details. Enhanced Care Rider® is not long-term care insurance. The rider has limitations and, depending on product selected, may be optional and have an additional cost.
* Rate effective May 1, 2011, and subject to change.
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April 22, 2011
As some of you may have read, Fidelity & Guaranty Life Insurance Company is back, thanks to the acquisition of Old Mutual’s U.S. Life operations by Harbinger Group, Inc. Please see the Fidelity & Guaranty Life press release for details. Legacy will be updating its OM Financial Life Insurance Company marketing materials and forms with the new company name over the next several months. While awaiting final regulatory approval of the name change, it is business as usual and we foresee no immediate impact to current products.
And there is more good news! Fitch has upgraded ratings and assigned a stable outlook to OM Financial Life (now Fidelity & Guaranty Life).
We are pleased to see this transaction come to a successful conclusion, as we know how hard everyone involved has worked over the past year to make it happen and how patient all of you have been throughout this process. All of us at Legacy look forward to rolling up our sleeves and doing our part to make Fidelity & Guaranty Life a continued success in the marketplace.
For more information, call 888-453-5797 or visit www.legacynet.com.
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11-104
April 21, 2011
You worked hard to close that sale. The last thing you need is to have your business returned because of incomplete product training requirements. Remember the Product-Specific Training is required for all American National Insurance Company and Investors Insurance Corporation Producers soliciting in the states listed above.
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April 20, 2011
You worked hard to close that sale. The last thing you need is to have your business returned because of incomplete product training requirements. Remember the Product-Specific Training is required for all OM Financial Life Insurance Company Producers and for all business submitted.
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April 18, 2011
The more you sell, the more you earn! Bonuses are calculated on every two eligible applications, based on the order of commission payment. Click here for bonus program rules.
And check out our new Sales Brief, “New Solutions To Manage LTC Costs.” See our April 11, 2011, Hot Sheet for more info!
Get more information TODAY! Call your Wholesaler or Legacy Relationship Manager at 888-860-5271.
Annuity products and rider are issued by Investors Insurance Corporation, Wilmington, DE, and distributed by Legacy Marketing Group®. Refer to rider, sales guides, and State Approval Matrix for details. Enhanced Care Rider® is not long-term care insurance. The rider has limitations and, depending on product selected, may be optional and have an additional cost.
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April 15, 2011
Recently, the NAIC adopted a significantly revised “Suitability in Annuity Transactions Model.” The revised Model is effective in Wisconsin May 1, 2011. “Suitability Information” is defined under the new Model to include:
Age.
Annual income.
Financial situation and needs (including the financial resources used for the funding of the annuity).
Financial experience.
Financial objectives.
Intended use of the annuity.
Financial time horizon.
Existing assets (including investment and life insurance holdings).
Liquidity needs.
Liquid net worth.
Risk tolerance.
Tax status.
Also, if recommending the purchase or exchange of an annuity that results in another insurance transaction, a Producer must “have reasonable grounds for believing that the recommendation is suitable for the consumer on the basis of the facts disclosed by the consumer as to his or her investments and other insurance products and as to his or her financial situation and needs.” And, the Producer must have a reasonable basis to believe that:
The consumer has been informed of various features of the annuity, including the surrender period and surrender charges, as well as charges for any features or optional riders.
The consumer would benefit from certain features of the annuity, such as tax-deferred growth, lifetime income, or death benefit.
The particular annuity as a whole, and any optional riders or other product enhancements are suitable for the particular consumer based on his or her suitability information.
In the case of an exchange or replacement, the exchange or replacement is suitable considering whether the consumer:
Will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as a death benefit), or be subject to increased fees or charges for optional riders or other product enhancements.
Would benefit from product enhancements.
Has had another annuity exchange or replacement within the preceding 36 months.
American National Insurance Company and Investors Insurance Corporation will be revising their forms to cover all of the items discussed above. The new forms will be available May 1, 2011, through The Forms Store and will be required in Wisconsin for all applications beginning May 1, 2011. The revised suitability form will be available for Producers to use in all other states to assist in gathering the information needed to conduct a suitability analysis; however, it is not required until the state adopts the regulation or no later than June 1, 2013, for all states.
Under the new Model, Producers are required to fulfill two different training requirements:
1.
A one-time state-level four-hour continuing education course on annuities.
2.
Product-specific training prior to soliciting the sale of a particular annuity product.
Wisconsin has granted an extension to Producers for the four-hour state-level continuing education course on annuities until November 1, 2011. However, we strongly encourage Producers to take the training now and send in proof to Dell. All other requirements of the revised Model have to be met May 1, 2011, in Wisconsin. Comprehensive product-specific training courses for Legacy’s American National and Investors Insurance Corporation annuity portfolio are available on the LegacyNet® Annuity Training page (to access, you must first log on to LegacyNet®).
We expect much more state activity on the revised Model in the next six to 12 months, and we will keep you informed of any further developments. For updates on suitability requirements for OM Financial Life Insurance Company, refer to LegacyNet® Need To Know. And for additional suitability information, refer to LegacyNet®’s Compliance page.
For the full text of the revised Model, click here.
April 13, 2011
Producers who do not have securities or investment advisor licenses are reminded to use extreme caution to avoid inadvertently giving investment advice and/or recommending the purchase, sale, liquidation, surrender, replacement, or withdrawal of any security. For guidelines and a sample form you can use with clients to ensure their understanding of your role as an insurance agent, see LegacyNet® Need To Know.
When working with clients who have securities, be careful to avoid giving any advice about those specific products unless you hold the necessary licenses. Instead, focus on your clients’ goals and objectives and how Legacy’s products can help them.
Legacy offices will be closed April 22 for Good Friday. Commissions for that week will be paid on Thursday, April 21. To be paid on this day, all requirements, new business, and premium (including additional premium payments) must be in good order and received by Tuesday, April 19.
Under NAIC’s recently revised “Suitability in Annuity Transactions Model Regulation,” prior to soliciting the sale of an annuity, Producers must complete training specific to the annuity.
OM Financial Life Insurance Company—This rule applies to ALL annuity applications as of January 1, 2011. Business solicited prior to completion of required product training will be returned.
American National Insurance Company and Investors Insurance Corporation—This rule applies to annuity applications solicited in these states as of these dates:
Iowa - 1/1/2011
District of Columbia - 6/24/2011
Colorado - 4/1/2011
Ohio - 7/1/2011
Wisconsin - 5/1/2011
Oregon - 7/1/2011
Rhode Island - 6/1/2011
See LegacyNet® Need To Know for details, and watch your e-mail for notifications regarding American National and Investors requirements in other states.
Speed business—and your commission—by making sure all premium checks are made out to the appropriate carrier and NOT to Dell or Legacy. Checks made out to the incorrect payee will be returned. Also, please remember that starter checks—i.e., checks not imprinted with the account holder’s personal information—are not permitted as premium payments. For additional payment restrictions, be sure to review the Anti-Money Laundering requirements.
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April 11, 2011
Our March 21, 2011, Hot Sheet promoted the benefits of our exclusive Enhanced Care Rider®. Now read our new Sales Brief, “New Solutions To Manage LTC Costs.”
This new Sales Brief explains how:
Given the diminishing availability of LTCI options, you owe it to your clients to learn about viable alternatives. Enhance your clients’ quality of life and enhance your sales!
And Speaking of Sales...Time Is Running Out! Seating is limited for our ever-popular Real Life Management® event April 28–29, in Atlanta, Georgia. Call today to register!
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When can a traditional fixed annuity beat the annual reset point-to-point on a fixed index annuity? When it’s BenchMark RelianceSM!* From January 2000–2010, the BenchMark RelianceSM Index Corporate Bond Strategy would have returned $46,648 and the Guaranteed One-Year Strategy, $37,675, compared with $36,130 for the annual reset point-to-point with a 6% cap!**
And BenchMark RelianceSM is Medicaid and VA friendly; available to age 90 with an optional 2% first-year rate enhancement; and good for Producers, with up to 7% GA-level commission (up to 5.50%, ages 76–90).† A “10-10” compliant version of this great annuity is available now in Texas and April 8 in Utah and Washington!
To learn more about BenchMark RelianceSM and other fixed annuity products in Legacy’s portfolio, review your monthly package of Quick Reference Sheets. You’ll find information on everything from product differentiators to surrender charge schedules and issue ages. New rates and commissions are highlighted in blue. Also attached is our popular “Legacy One-Stop Shop” flier.
If you haven’t already, sign up for a Legacy Road Show and discover how our Make Your Legacy RealTM program can help you identify the financial buying attitude of clients in less than 3 minutes! To find a Road Show near you, click here.
Have questions or need sales ideas? Call your Legacy Relationship Manager today at 888-452-5779.
BenchMark RelianceSM flexible premium deferred annuities are issued by American National Insurance Company, Galveston, TX; products are distributed by Legacy Marketing Group®. Products and features may not be available in all jurisdictions. Refer to contract, Earnings Rate Update, sales guide, and State Approval Matrix for details. Form Nos: AN- PBE603-10-0, AN-PBE603-10-2, AN-PBE603-10-4, AN-PBE603-10-6, ICC10-AN-PBE10-0, ICC10-AN-PBE10-2, ICC10-AN-PBE10-4, et al.
When a person chooses a strategy, the person is not buying an ownership interest in any bond, stock, or index. Past performance is no guarantee of future results.
Examples assume an initial premium of $100,000 allocated entirely to the interest crediting strategy illustrated, no additional premium payments, no withdrawals, no surrender, and no market value adjustment. When a person buys this annuity, the person is not buying an ownership interest in any stock or index. Interest earnings are paid at a rate that is related to the performance of an index. The index does not reflect dividends paid on the stocks underlying the index. Past performance of the Index is no guarantee of future results. If the index loses value over the indexing term, the owner will not receive any interest except as provided under the contract’s minimum guaranteed surrender value provision. Indexed interest will only be credited to the annuity at the end of the term period. A premium enhancement is considered interest earnings by the IRS and is reported on Form 1099, when withdrawn. Theoretical returns based on S&P 500® values for Jan. 2000–Jan. 2010. Not representative of a specific product. "Standard & Poor’s®", "S&P®", "S&P 500®", and "Standard & Poor’sTM" are trademarks of the Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) and have been licensed for use by the issuing insurance company. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of purchasing the Product.
†
Ages 0-75. Compensation varies by product version and state. Refer to Compensation Schedule for details, including commission for ages over 75.
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March 23, 2011
OM Financial Life Insurance Company has adopted and implemented the requirements of the NAIC Revised Suitability in Annuity Transactions Model Regulation as an industry best practice on a nationwide basis. Colorado adopts the regulation, effective April 1, 2011.
New Suitability Procedures—OM Financial Life introduced an enhanced Suitability Acknowledgement Form on January 1, 2011. A fully completed Suitability Acknowledgement Form is required with every annuity application signed on or after that date. The form is available on The Forms Store.
Recordkeeping—The Revised Model requires insurers, insurance agencies, and insurance agents to maintain and make available records of information collected from consumers and any other information used in making recommendations resulting in annuity transactions. Producers appointed with OM Financial Life will be required to retain all documents and information relating to any suitability assessment in client files. Producers should also keep notes of conversations with clients, how any estimates were determined such as income or expenses, and any other documentation that will help respond to any carrier questions, customer complaints, or regulatory inquiries. OM Financial Life or Legacy may, at its discretion, request this information during on-site and off-site compliance reviews.
Product Training—All appointed Producers must complete online training for each OM Financial Life annuity product series prior to solicitation of any annuity product in that series. Certification of such training will be required. Any application solicited prior to completion of the training may be rejected. The required training is available on the LegacyNet® Annuity Training page (to access, you must first log on to LegacyNet®).
State-Specific Annuity Training—Under the Revised Model, Producers are also required to complete a one-time, four-hour department-of-insurance-approved course on annuities prior to soliciting the sale of annuity products, as required for Colorado Producers.
OM Financial Life's position on state-mandated continuing education for Colorado Producers is as follows:
Producers licensed in Colorado and appointed with OM Financial Life prior to April 1, 2011—Producers will have a six-month grace period, given by the state, to take the CE course.
Producers licensed (non-resident or resident) in Colorado on or after April 1, 2011—The CE course must be completed prior to any solicitation of OM Financial Life business in Colorado. Applications will be returned if a newly licensed Producer in the state submits business prior to completing the CE course.
Producers licensed in Colorado prior to April 1, 2011, but not appointed with OM Financial Life until after April 1, 2011—New business will be accepted, however, the Producer must take the CE course prior to our Administrative Office issuing the annuity.
We strongly encourage Producers to complete the CE course as soon as possible. We will only accept CE courses approved by the state the business is solicited in. For example, completion of an Iowa CE course can't be accepted for business solicited in Colorado.
OM Financial Life has partnered with SuccessCE to support the Producer annuity suitability CE requirement. Legacy Producers appointed with OM Financial Life can log on to www.OMFN.SuccessCE.com and take the CE course. OM Financial Life will cover the cost of registering, and Producers pay only the actual cost of the four-hour annuity suitability training—$7.95.
Please watch for updates on suitability requirements for Investors Insurance Corporation and American National Insurance Company. For the full text of the Revised Model, click here.
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March 21, 2011
In our Road Shows, Producers are being wowed by the benefits of the Enhanced Care Rider®, given the diminishing availability of LTCI products. But the ECR WOW! factor is no surprise to us. What we are surprised about is ECR seems to be our best-kept secret! Have YOU taken the time to learn about this powerful rider?
An innovative rider available exclusively through Legacy Marketing Group® for clients who:
Enhanced Care Rider® increases annuity value when benefits are triggered. And:
Available only with the EnhanceMark® fixed annuity and PremierMark® SE Series of fixed index annuities from Investors Insurance Corporation.
ECR is not approved in all states. Please check the State Approval Matrix for availability.
Get more information TODAY! Call your Wholesaler or a Legacy Relationship Manager at 888-860-5271.
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March 18, 2011
Recently, the NAIC adopted a significantly revised “Suitability in Annuity Transactions Model.” The revised Model is effective in Colorado April 1, 2011. “Suitability Information” is defined under the new Model to include:
American National Insurance Company and Investors Insurance Corporation will be revising their forms to cover all of the items discussed above. The new forms will be available April 1, 2011, through The Forms Store and will be required in Colorado for all applications beginning April 1, 2011. The revised suitability form will be available for Producers to use in all other states to assist in gathering the information needed to conduct a suitability analysis; however, it is not required until the state adopts the regulation or no later than June 1, 2013, for all states.
Colorado has granted an extension to Producers for the four-hour state-level continuing education course on annuities until October 1, 2011. However, we strongly encourage Producers to take the training now and send in proof to Dell. All other requirements of the revised Model have to be met April 1, 2011, in Colorado. Comprehensive product-specific training courses for Legacy’s American National and Investors Insurance Corporation annuity portfolio are available on the LegacyNet® Annuity Training page (to access, you must first log on to LegacyNet®).
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Competitive cost! Only 30 bps annually with a 6% roll-up or 10 bps with a 4% roll-up. Cost is based on the Annuity Value, not the Income Base.
No roll-up rate reductions! Choose between a steady 4% or 6% annual roll-up.*
Greater Step-Up opportunity when combined with available double-digit caps.
Opportunity for higher withdrawal percentage than other similar riders.**
No hidden fees! Clients enjoy guaranteed income, without worrying about hidden fees and extra charges.
When you look under the hood, how does your income rider perform?
Call 888-345-4001 today to add Income Freedom RiderSM—the better value income rider—to your product portfolio!
AmeriMarkSM Freedom Series and AdvanceMarkSM Series flexible premium deferred fixed indexed annuities and Income Freedom RiderSM are issued by OM Financial Life Insurance Company, Baltimore, MD; products are distributed by Legacy Marketing Group®. Subject to state availability. Certain restrictions may apply. Optional provisions and riders may have limitations, restrictions, and additional charges. Refer to contracts, riders, Earnings Rate Update, sales guides, and State Approval Matrix for details. Form Nos: OM-CEIA-0708-0, OM-CEIA-0708-0-1, OM-CEIA-0708-B, OM-CEIA-0708-B-1, FGL FPDA-EIA (2005), FGL FPDA-EIA-C (3-08), et al. Rider Form No.: OM GMWB-FA (01-09).
The Basic 4% and Enhanced 6% Roll-up amounts are current guaranteed rates. OM Financial Life reserves the right to change each of these rates for future sales of Income Freedom RiderSM to not less than a minimum guaranteed rate of 3%.
Based on an independent analysis of similar riders in the market.
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February 21, 2011
Errors and Omissions coverage is essential to protect your professional and personal interests. Visit LegacyNet® today for all the materials you need to renew or apply for E&O coverage in Legacy’s 2011-2012 group-sponsored program. From the Legacy Service Center, select “E&O Information” from the “Other Tools” drop-down menu.
The 2011–2012 E&O insurance program includes:
Coverage for those currently enrolled in Legacy’s 2010–2011 program EXPIRES TUESDAY, MARCH 1, 2011. Renew or apply for coverage today to avoid any delays!
Reminder: We offer the Legacy Exclusive Program* if you do not have annual coverage or do not provide proof of coverage when an annuity contract is issued. This program provides coverage for the writing Producer, for that piece of business only, via a nonrefundable $160 E&O premium commission deduction.
For more information, please contact Kathy Phipps at 866-579-6303, Ext. 1, or kathy@eopros.com.
As always, we appreciate your business!
Refer to Program Highlights & Exclusions and the master E&O policy for details on coverage, limitations, and provisions.
* Subject to carrier eligibility criteria. Insurer reserves the right to disallow participation.
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February 18, 2011
On February 16, 2011, SCOR announced the sale of its subsidiary Investors Insurance Corporation (IIC) to Athene Holding Ltd. for $55 million. The transaction is expected to close in the first half of 2011 following the receipt of applicable regulatory approvals. Athene Holding Ltd. is the parent company of Athene Life Re Ltd., a Bermuda-based reinsurance company incorporated in 2009. Its core business is fixed annuity reinsurance, and its primary customers are life and annuity insurance companies.
Legacy has been in contact with executives at Athene, and they have assured us that business continues as usual. We will continue discussions and are optimistic about possible future opportunities. We will provide additional updates as information becomes available.
Thank you for your business.
Marketing Field Support, 888-453-5797
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Relax in an atmosphere of rustic elegance beneath Colorado’s blue skies. Join us May 9-13, 2011, at The Broadmoor in Colorado Springs. We hope you and a guest will join us at this renowned, refined, regarded resort.
RENOWNED
Considered one of the world’s premier resorts since 1918.
Generally regarded as the Grand Dame of the Rockies.
REFINED
Old-world charm meets European sophistication with elegant suites, exquisite décor, fine dining, 5-star service, an award-winning spa, championship golf, and expansive activities in nature.
REGARDED
Longest-running consecutive winner of the Forbes Travel Guide Five-Star award—50 years!
AAA Five-Diamond winner for 34 consecutive years!
Condé Nast Traveler Gold List, Reader’s Choice Award, and Top 100 Golf Resorts List.
Just $1.2 million in qualifying premium entitles you and a guest to visit this distinguished resort destination.
Premium used to qualify for this trip cannot be used to qualify for any other Legacy-sponsored trip. Visit LegacyNet® for complete trip rules. Refer to http://www.broadmoor.com/resort-awards.php for a comprehensive list of resort accolades.
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Answer the beckoning call of international travel aboard a premier luxury cruise line.
Day 4: Malaga, Spain! Take in the rich culture of Malaga, one of the oldest cities in the world, known for its fine wine, beautiful climate, rich cultural history, and—of course—being the birthplace of Pablo Picasso. With so many inviting destinations, it’s going to be hard to decide what to do first!
La Alcazaba —An 11th century military fortress comprised of 2 protective walls, 3 palaces, and more than 100 towers.
Roman Theatre —Despite a 100-foot radius and 62-foot height, the ancient theatre just down the hill from La Alcazaba wasn't discovered until 1951!
Museo Picasso —Boasts 12 halls of a permanent Picasso exhibition, including known classic works in addition to many ceramics and sketches.
Costa del Sol —Literal translation: “Coast of the Sun.” A renowned destination for the rich and famous.
Immerse yourself in Malaga! Just $3 million in qualifying premium will get you and a guest there! For sales tips to help you qualify, call Marketing at 888-471-0632.
Premium used to qualify for this trip cannot be used to qualify for any other Legacy-sponsored trip.
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Legacy’s Producer incentive trip to Colorado Springs can place you right on the doorstep of nature and unforgettable attractions. Along with the 5-star amenities of The Broadmoor resort, explore these possibilities:
Pikes Peak
Pikes Peak—Drive, ride, or hike up the second most visited mountain in the world, next only to Japan’s Mount Fuji. This majestic mountain is an iconic Colorado landmark and the inspiration for “America the Beautiful.”
Garden of the Gods—Explore natural towering cliffs, balanced rocks, dramatic views, and unusual formations in this spectacular public park.
Horseback Riding—Experience the scenic Rocky Mountains on horseback—the way it was done in the Old West! Take a guided journey along trails that cross old mining claims and provide panoramic vistas of the Front Range.
Garden of the Gods
Olympic Training Center—Catch a glimpse of top American athletes in action on a free guided tour through Colorado’s state-of-the art training facility.
Manitou Cliff Dwellings—Scamper around carefully preserved 700-year-old Anasazi cliff dwellings. Located at the foot of Pikes Peak.
Air Force Academy—Stroll through the campus of America’s future Air Force Officers at Colorado’s most visited man-made attraction.
Money Museum—See rare currency, and explore the art, history, and science behind money.
For more information, call 888-343-0398, or your Wholesaler.See LegacyNet® for rules and qualification details.
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January 21, 2011
As a result of OM Financial Life Insurance Company’s adoption of NAIC’s Revised Suitability in Annuity Transactions Model Regulation as an industry best practice on a nationwide basis, as of January 1, 2011, it is requiring a new Annuity Suitability Acknowledgement Form in Florida for policyholders age 64 and younger. Form ADMIN5593 is available in The Forms Store and replaces OM1255F for the same age group. There is no change in the Annuity Suitability Acknowledgement Form required for ages 65 and older at this time.
Florida’s new Safeguard Our Seniors Act (part of SB 2176) took effect January 1, 2011, prohibiting the sale of annuities with a surrender charge period over 10 years or a surrender charge penalty over 10% to any applicant age 65 or older. We recently notified you of the changes impacting product availability in Florida; however, we want you to be aware of additional changes that may impact your business. Among other things, the new law:
For more information, contact the Florida Department of Financial Services.
Noting that several thousand licensees still have not provided the department with an e–mail address despite a January 1, 2010, requirement that they do so, the North Carolina Department of Insurance (NCDOI) warns licensees that it plans to impose a $50 administrative fee for failure to provide an e–mail address in 2011. For an explanation of the NCDOI’s e–mail address procedures, including how to verify and submit an e–mail address, read the department’s January 3, 2011, notice. For background information on the e–mail address requirement, see Need To Know.
Michigan’s Office of Financial and Insurance Regulation (OFIR) reminds Producers they are required to implement a comprehensive information security program for the protection of customer information. To safeguard customer information and avoid state disciplinary action and/or federal penalties, Producers are advised to:
Additional information on Producers’ responsibility to safeguard customer information can be found at www.michigan.gov/ofir. For the text of Bulletin 2010–21–INS, click here.
Have questions? Call Marketing Field Support at 888–457–0431.
Mark your calendar to attend an event near you, and discover:
Product solutions that truly differentiate you from competitors.
How to create a brand in your marketplace.
Sales ideas and exclusive tools to help you sell.
An insightful program that identifies the financial buying attitudes of consumers.
The truth about income riders.
ATTENDANCE IS FREE, but seats are limited.
Watch your e-mail for details and a registration form!
For more information, call 888-345-4006
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All Road Shows run from 8:30 to noon, local time.
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