LIFE, ANNUITY & DI Updates

Bull and Bear Go To Market

ANNOUNCEMENTS

TERM LIFE REPRICE SCHEDULED FOR SEPTEMBER 7

MassMutual’s term life insurance portfolio will be repriced in September with premiums rising for all products by an average of 8-10% for key ages, bands, and risk classes. Key dates and resources available on FIELDNET .

SUBMIT SIGNED ILLUSTRATION WITH N.Y. APPLICATION

Effective Aug 1, if you are doing NY life insurance business, the illustration must be signed on or before the application (Part 1). If the illustration is signed after the Part 1 it will be considered a NIGO. Grace period until Aug 15th. Click here to learn more.

USE NEW EXAM SUBSTITUTE PROGRAM FOR QUICKER, EASIER OFFERS

Bypass paramedical exam for coverage amounts over $3 million through $20 million. Click here for more details.

New Reassignment of Business Policy

Effective Immediately, FFG has implemented a formal participation program for reassignment of legacy investment accounts and orphan insurance policies. A signed commitment agreement is required prior to becoming eligible for participation. Click here to apply for the program or reach out to Jessica Dougherty or Frank Maguire for more information and a copy of the agreement.

TERM INSURANCE/PLATINUM PASS LIST

If you want your term conversion and/or Platinum Pass List sent to you, please reach to Jessica Dougherty

MASSMUTUAL ASCEND ANNUITY ENHANCEMENTS

Click here (Passcode: Z*0UbdhL) to listen to Jimmy Hicks speak about enhancements to MassMutual Ascend annuity products in 2024 as he joins Larry Bogucki, annuity regional sales director, to discuss the product changes and how he uses Ascend annuities in his practice.

SAVE TIME BY PRE-FILLING TO EZ-APP FROM ADVISOR360

You can now pre-fill life and disability applications from Advisor360 into EZ-App. Fields that will pre-fill for both the owner and insured include name, SSN, mailing address, and phone number. Date of birth and gender fields also will pre-fill for the insured.

Note: The contract state will be defaulted to the owner’s state (if there is one) and the product to Whole Life 100. If the owner does not have a state in Advisor360, it will default to the insured's state. If there is no state for either, the application is not eligible for pre-fill. Be sure to review both state and product before submitting.

Reminder: Prior to submitting life and disability insurance applications, make sure you are properly licensed in the signature state.

You can apply for licenses at nipr.com or sircon.com.

Note: Kansas, Montana, and Pennsylvania are pre-appointment states – meaning you need to get appointed with MassMutual prior to solicitation. All other states will be appointed when new business is submitted.

Learn more

DI MARKETING HUB

Click here for your one stop shop for everything DI marketing.

MASSMUTUAL ASCEND WILL RETIRE ITS INDEX FRONTIER 7 ORO REGISTERED INDEX-LINKED ANNUITY JULY 1

See April 4 FieldNet News article or contact annuity specialist Jimmy Hicks for more information.

IDENTIFY AND UNDERSTAND MASSMUTUAL ASCEND ANNUITY PRODUCTS

DOWNLOAD THE GUIDE HERE. For more details CLICK HERE.

DI UNDERWRITING COMPETITIVE UPDATES AND
ENHANCEMENTS

Effective immediately, business owner and executive disability income insurance underwriting program upgrades and 1099 contractor enhancements make it easier to qualify for coverage. Click here for more details.

NEW WL 8-PAY WILL ADD FLEXIBILITY TO
MASSMUTUAL'S WHOLE LIFE PORTFOLIO

With the shortest pay period in the portfolio, WL 8-Pay can be a good fit in a wide variety of sales situations with affluent and high-net-worth clients. Click here to for more information on FieldNet.

PAC Form Tutorial

Need help completing your Pre-Authorized Check Premium Payment (PAC) form? WATCH THIS.

REMINDERS

MassMutual DI products are suited for white collar/white coat professionals. For other occupations, please consult with Ash or Crump to assist your clients. If you are unsure about the occupation, please refer to the DI Reference Manual or reach to your NBC to discuss.

When 1035 funds are going towards an ALIR on a Replacement policy: In Section C of the Part 1, the 1035 funds need to be listed as an Unscheduled lump sum ALIR. When the funds are being listed under a 1 year Scheduled or Planned ALIR instead, it often results in the policy being flagged as a MEC.

Please remember to list your New Business Coordinator (NBC) as agency contact #1 when completing your applications. This enables us to be a better resource to you and your business! (Your information or your client’s information does not get entered in that section)

When you receive an email from underwriting, please reply to your NBC (as best practice) or via workbench, replying directly back to that email causes processing delays.

For PAC forms, IF monthly EFT selected, please review to make sure your client selects their preferred premium draft date of the month. (between the 1st – 28th of each month)

RESOURCE CENTERS

Click the images below for a more robust collection of Training Replays, Instructional Videos and Best Practice Tutorials

Life and Disability Insurance Processing

Variable Annuities

Return to the Resource Hub

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