New York Life leads MDRT

New York Life led the Million Dollar Round Table (MDRT) in the United States for the 59^th consecutive year, with 2,228 qualifying New York Life agents. MDRT granted membership to only 10,329 agents in the entire United States, making membership in this organization a distinguishing life insurance career milestone for those demonstrating superior professional knowledge, experience and client service.

Of the 1,180 female MDRT members in the United States, 29 percent are New York Life agents – making the company the leader in female MDRT membership. New York Life has more than three times more women members than the second-place company.

The company’s operation in Mexico, Seguros Monterrey New York Life, is the leader in MDRT membership in Mexico with 264 qualifiers, which represents 54 percent of MDRT members in Mexico. In addition, Seguros Monterrey New York Life leads in Mexico with the highest number of women MDRT members, with 91 qualifiers.

In other industry news:

The Foundation for Financial Planning introduced Apple Seed, a collegiate financial planning curriculum to help educators prepare university financial planning students to be pro bono financial planners on their campus and in their local communities.

Apple Seed consists of seven units: pro bono culture and structure materials, meeting materials, presentation materials, cash management, debt management, planning for major purchases, and using financial services. The first three units are the building blocks for pro bono financial planning services. The last four units are basic overviews of information or refreshers of topics that student pro bono planners may face with potential pro bono clients.

American General Life Companies (American General) launched AG Secure Survivor GUL II, individual, joint and last survivor guaranteed universal life insurance featuring more flexibility to adapt the policy to evolving needs in the future. Among the key benefits of AG Secure Survivor GUL II are: 

• Guaranteed death benefit and premiums, which help provide protection that can be relied upon, even during changing needs, economic conditions and tax environments;
• The ability to reduce the death benefit and premiums in future years without losing guarantees;
• A no-cost enhanced surrender value rider which allows a potential for a return of up to 100 percent of premiums paid (see rider for details);
• Guaranteed tabular cash values that provide attractive flexibility for customers;
• Option to extend coverage beyond the original maturity date, with some conditions applying.

One policy insures two people, so AG Secure Survivor GUL II provides more affordability for spouses than buying two individual policies. Liquidity needs frequently arise after the second death, and AG Secure Survivor GUL II can help fund estate and gift tax obligations, or to replace assets gifted to charity. AG Secure Survivor GUL II is also a flexible way to equalize inheritances among heirs. It can provide a specified, guaranteed amount to one child to help equalize assets among several, when a business interest or other major asset is being left to only one child. The product can also provide capital for business planning and succession. It can be leveraged to provide working capital or to ensure business continuity at the death of a business owner or key employee.

Erik Qualman, worldwide social media expert and author of “Socialnomics,” announced the winners of the inaugural Social Media Silver Bowl Awards at the LIMRA LOMA 2013 Social Media Conference for Financial Services in Boston last month.

The awards recognize originality, innovation and effective social media campaigns or programs in Facebook, Twitter, LinkedIn and YouTube for LIMRA and LOMA members and the broader financial services industry in the United States and Canada. In addition, the judges awarded the overall winner for “Best of the Best.”

2013 LIMRA LOMA Social Media Silver Bowl winners for the individual social media platforms are:

Facebook

LIMRA or LOMA Member: Transamerica

Other Financial Services Companies: MasterCard

Twitter

LIMRA or LOMA Member: John Hancock Financial Services

Other Financial Services Companies: MasterCard

LinkedIn