Blog Archives

William Penn Regulation 187 Suitability Training / Guidelines

William Penn just came out with their guidelines for Regulation 187.  Instructions are below but the gist of it is that you will need to log into LIMRA, go to the Best Interests section and click on the link for

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NY Regulation 187 Product Training Information – Urgent

We are at the final week before ALL New York life insurance applications will be required compliance with New York Regulation 187.  Any application received after January 31st, 2020 where you have not satisfied the Regulation 187 requirements will be

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NY Regulation 187 Reminder – Life Insurance

Just a reminder that starting February 1st, all new life insurance business in NY will require you to have completed BOTH the Reg 187 industry training AND the product specific training for any application that you are going to submit.

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New York Suitability Regulation – Regulation 187

Regulation 187 already applies to annuity sales but effective February 1, 2020 this regulation will also apply to all life insurance sales. Regulation 187 requires that agents act only in the consumer’s best interest when recommending or servicing a policy

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Penn Mutual to Exit New York Market

Penn Mutual to Suspend Offering Life and Annuity Products in the State of New York  Acting in the long-term best interests of all of its policyholders, Penn Mutual has made the business decision to suspend accepting applications for life and

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New York Regulation 187 – Urgent

Effective August 1, 2019, the New York Department of Financial Services New York Insurance Regulation 187 (“Suitability and Best Interests in Life Insurance and Annuity Transactions.”) will be in effect for annuity transactions.  The regulation addresses the duties and obligations

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Genworth Simplifies Long Term Care Health Ratings

In an effort to streamline the underwriting process, Genworth will no longer be offering 4 health categories (Preferred Plus, Preferred, Select and Standard health).  Effective 11/20/2017, only Select and Standard will be available.  If you are contemplating any cases that

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New York State Cybersecurity Regulation Filing Deadline

Just a reminder that for New York state residents with a life insurance license MUST file an exemption with the New York State Department of Financial Services by September 27, 2017.  This includes BOTH individuals and agencies.  Most will qualify

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NY Indexed Annuity Cap Raised To 12.05%

American National Life’s popular indexed annuity raised the caps on their 50% participation option to 12.05% with a 10 year surrender or 9.90% on the 7 year surrender effective April 1st. Call us today with any questions.  See attached rate

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New William Penn Application

HIPAA FORMS UPDATED   Release of Health-Related Info (HIPAA) forms for Banner and William Penn have been updated. We’ve made the following revision: Added “genetic information and genetic testing results” to the LU1250 HIPAA forms. LU1282 forms are a package

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