By: Mark D. Milbrod, CLU, CLTC


As we enter this new year, there will certainly be many changes.  And as always, with change comes opportunities.  You can either be part of the glass half empty camp or the glass half full camp.   I always choose the half full side.

Changes are already happening at a very fast pace in our industry.  We have seen more contraction in the GUL space with more carriers withdrawing their products.  This is mainly due to a couple of factors; the continuing low interest rate environment and tighter reserve requirements being placed on the insurance carriers.  With an incoming democratic President/Administration, we will likely see some changes as they relate to the Estate Tax and other regulatory issues affecting the products we sell.

There are some good things coming down the pike.  And believe or not, it is positive and there is a silver lining.  Here is some of what to expect:

  • To replace the GUL, there are several IUL chassis that will have very competitive Extended No Lapse provisions all the way to age 100.
  • A new simple to use Term Insurance platform called Vive. Under this proprietary platform, you will be able to quickly and efficiently submit your business with dramatically fast turnaround times.
  • Due to some year-end tax code liberalization, insurers will be able to expand premium thresholds for purposes of Section 7702. This will be a boom for Whole Life insurance sales with larger Non-Mec limits.
  • Continuation of NON-MED underwriting programs to further your ability to provide products to your clients as we navigate through more of the pandemic.
  • We have seen somewhat of an easing on some of the previous COVID underwriting rules. Some of these changes have expanded issue ages and/or face amounts.
  • Re-pricing and lowering of some term rates.
  • Introduction of a new Proprietary Annuity Product
  • New Webinar Series for 2021

As we did last year, we as your partners at ASG, will continue to keep you informed about the things that matter to you most.  Timely sales ideas, product and industry news will be vital to your success for 2021 and beyond.

The previous year had its challenges but through it all, we were there to assist.  But like any year, challenges bring opportunities.  Together, with the optimism of that glass half full, we wish you a Very Safe, Prosperous and Happy New Year!