Your Life Insurer

Manulife’s Long-term Care plan, called LivingCare, is unique to the industry in that it is available on a single-life basis or a shared coverage option. Additionally, rather than having a set weekly or monthly benefit, Manulife allows the insured to choose a maximum benefit of up to $1,000,000 for single-life coverage or $2,000,000 for shared coverage between couples. The insured then chooses a benefit amount for single-life between 0.5% and 2% and for couples, between 0.25% and 1%. The amount is paid out for as long as the insured is on claim and it’s to the point where it doesn’t exceed the coverage amount.

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Life Insurance Awareness Month is now over, and the results are starting to come in for September. According the MIB Life Index, applications for individual life insurance for Boomersâ??age 45 to 59â??were up 2.7%, and for those 60 and older, applications soared 13.8%. The only dip was for younger applicants.

Overall, the volume of individual life insurance applications this September increased 1.8% over the same time last year and represented a 10% jump from Augustâ??s numbers. What does this indicate? It

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Here are some updates for life insurance term and guaranteed no lapse universal life products for October.

1.  American General – state approvals.  October 14th – American General’s new rates are now approved in
MS and OR. 
2.  Lincoln Benefit Life – term products removed.  October 12th - We have been advised by Lincoln Benefit that they have changed the rates for their term products.  We are also advised the company will not be providing us their new term rates at this time, although we have been told they are continuing to
offer term insurance.

3.  ING – new no lapse UL rates.  October 12th - We have now entered the new rates for ING’s no lapse UL products. 
4.  Pruco Life / Prudential - new ROP rates.  October 12th – Effective November 2nd Pruco in changing rates for its 15, 20 and 30 year ROP term.  The new ROP rates are not yet available in CT, DE, FL, GU, IN, KY,
MD, MA, MN, MT, NE, NV, NH, NJ, NY, ND, OH, OK, OR, PA, TN, TX,
VT, VA and WA.

We will continue to quote Pruco’s old rates until the November monthly update.  Old rates are marked  “til 10/30?.  You have until that day to submit an application for the old rates into the home office.

8.  Pruco Life / Prudential - new term rates.  October 8th – Effective November 2nd Pruco in changing rates for  its 10, 15, 20 and 30 year term.  The company is also rolling out a Term Elite 30. The new Elite rates are not yet available in CA, CT, GU, KY, MT, NV, NJ, NM, NY, ND, OK, OR, VA and WA.

We will continue to quote Pruco’s old rates until the November monthly update.  Old rates are marked  “til 10/30?.  You have until that day to submit an application for the old rates into the home office.

9.  Pruco Life – state approvals.  October 8th – Pruco’s new no lapse UL rates are now approved in CT, FL, IL, KY, MS, MO, ND, OH and SC.
10.  ING – no lapse UL removed.  October 7th - We have learned that ING has increased the premiums for its no lapse UL products.  The company has yet to provide us with the new premiums so we have removed the products from our system.

*Life insuranceupdates provided by Compulife®.  Compulife® is a registered trademark of Compulife Software, Inc.

RBC is a leading provider of Long-term Care insurance in Canada. The plan that puts them ahead of the competition is divided into two components. The first is facility care, available to applicants from 30 to 80-years-old, and the second is home care, for applicants from 30 to 75-years-old.

Thee benefit amounts are paid on a daily basis and are available with minimum benefit amounts of $10/day and maximum benefit amounts of $300/day.

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The Atlanta Journal-Constitution published an article on September 20, 2009 by M. Bryan Freeman and Stephen B. Wilkins titled â??Life insurance good asset for consumers.â? The article pointed out that â??Life insurance may not be thought of as an asset class because its buyers may not think of it as a flexible investment. That is, they expect to lapse it, take a minimal cash surrender value payout or, of course, pass away and leave the proceeds to their heirs.â?

But it further points out that in todayâ??s uncertain financial times, wealthy families are purchasing life insurance â??to generate the maximum amount of death benefit with the most efficient premium stream.â? They are not trying to grow cash value but enhance the overall return on the fixed income portfolio. This stra

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