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Final Expense Portfolio Changes
Thanks to your commitment and hard work, Americo's final expense insurance sales have been up substantially over the past few years. In an effort to continue this growth, we are excited to announce a new product that we feel will give you an advantage in the Final Expense market.
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We are excited to announce that Americo's Quit Smoking Advantage which encourages clients to stop using nicotine, will be available beginning July 13, 2018. This new benefit allows Smokers to receive an Eagle Premier Smoker policy with Nonsmoker rates for the first three policy years. Prior to the third policy anniversary, if the Insured can provide evidence that they quit using nicotine for at least 12 consecutive months, their Death Benefit and premium will remain level. However, if they do not stop using nicotine, the premium will remain level and the face amount will be reduced.
Not only does it provide financial encouragement for the Insured to stop smoking, it offers you yet another reason to sell Americo final expense products. See the Frequently Asked Questions flyer for more information on this valuable benefit.
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At times, it is necessary to make adjustments to products in order to ensure long-term value for you, your clients, and Americo. For this reason, after a review of our final expense portfolio, we will be making the following changes. These changes will apply to all Applications submitted on or after July 13, 2018.
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- The Nonsmoker definition has been changed to anyone who has not used Nicotine products (including, but not limited to, cigarettes, cigars, pipes, chewing tobacco, snuff, alternative nicotine delivery devices such as nicotine chewing gum or lozenges, nicotine patches or e-cigarettes or any device used for the vaporization of liquid nicotine) for at least 12 months prior to the completion date of the application.
- Eagle Guaranteed will now be available in AR, MA, MN, MT, and PA for both eApplication and TeleApplication.
- IL, NH, NJ, and WV will now have the 3-year graded death benefit available and will be 75% of the face amount in Year 3.
- There will be a change in the build chart, see Agent Guide (13-178-7) for details.
- Premiums on Eagle Premier for issue ages 50 - 59 have increased. Check the Agent Guide or the PAC Rate Sheet (13-178-6) for exact rates.
- Cash values will be updated based on the 2017 CSO Mortality tables.
- The Quit Smoking Advantage product is not available in California. Until it is approved, there will not be a smoker product available. You can still write Nonsmokers in California. We will notify you once the Quit Smoking Advantage is available.
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- IL, NH, NJ, and WV will now have the 3-year graded death benefit available and will be 75% of the face amount in Year 3.
- UP III will now be available in AR, MA, MN, MT, and PA.
- There will be a change in the build chart, see Agent Guide for details.
- Cash values will be updated based on the 2017 CSO Mortality tables.
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Updated marketing materials will be available for download from Americo.com on Friday, July 13.
On Thursday, July 12, 2018, Americo will be performing a system upgrade to Sales Connection to add the Quit Smoking Advantage to the Eagle Premier Series eApplication. Sales Connection will not be available from 9:00 pm - 12:00 am Central. All open Eagle Premier Series eApplications must be closed prior to the close of business on Thursday, July 12, 2018. Any Eagle Premier Series eApplications not completed by this time will need to be restarted after the Sales Connection update.
As always, we appreciate your commitment to Americo. Should you have any questions, or if we can be of assistance, please contact your Americo Account Executive.
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Thank you for your business,
Vice President & Chief Marketing Officer
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