REMINDER: Important Asset Transfer Product Revisions

 

Important Asset Transfer Portfolio Changes  Take Effect Next Week   As noted in our email of March 11, Baltimore Life is making small changes to the premium rates for our Single Premium Whole Life and Generation Legacy® products effective for new applications dated on or after Monday, April 1, 2013. We believe these changes will keep the products viable for you and your clients who want to create a legacy for their heirs, and achieve a tax-efficient asset transfer using life insurance.    Both products will maintain their current competitive first-year commission rates. All other features and benefits will also remain unchanged, including the Accelerated Death Benefit riders that are automatically issued with both products in all states were the riders are approved.    Underwriting and Product Materials To support the marketing of these products, you can complete quotes and proposals reflecting our new premium rates using one of these tools: Click on these links to the Single Premium Whole Life and Generation Legacy® Agent Underwriting and Product Guides. You can also print or order these guides from our Asset Transfer Toolkit. Secure Solutions Illustrator-Proposal software on our agent website will be available at 10:00 a.m. EST on Monday, April 1.   Policies and Procedures We will issue Single Premium Whole Life and Generation Legacy® policies using our current premium rates for applications written with a date of March 31, 2013, and received in the Home Office in good order no later than April 5. The Point of Sale Underwriting interview must also be completed with the applicant by April 5.    Funds should be received with the application unless they require a transfer from another institution.  If cash with application is not received with the application, funds must be received within our normal guidelines.    If the premiums for applications submitted by these dates require a transfer of funds from another institution, we will issue the policy applied for with a current date when the funds are received, but will use the premium rates in effect prior to April 1. All applications written or received after the dates outlined above, will be considered for issue using the new premium rates in effect April 1.   As your clients look to you for help in finding ways to increase their estate value in a low interest rate environment, we are confident Single Premium Whole Life and Generation Legacy provide competitive product solutions.     Thank you for your business!