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Published monthly by United American
Insurance Company for the dissemination of information to its Agents. Home
Office permission must obtained prior to reproduction or other use of
this material.
© Copyright 2003, United
American Insurance Company, McKinney, Texas
All rights reserved.
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ProCare
Rate Approvals
Effective immediately, Agents
in Alabama, Arizona,
Michigan, Mississippi,
Oregon, South
Carolina, South
Dakota, Tennessee,
and Washington, D. C. will
be selling Attained Age rates on ProCare Plans B, C, and D. Plans
A, F, and G will remain issue age rates in these states. United
American offers choices of premium structures on selected Medicare
Supplement plans in order to give Agents more flexibility and
clients more choices. Updated supplies have been sent. For
additional materials, please contact Agent Supply.
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Attn:
Ohio Agents
As previously communicated effective immediately,
please discontinue use of Attained Age rates for ProCare plans B, C,
& D. Sales of these plans may resume using Issue Age rates. |
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Interest
Rate Set
Lifestyle Annuity: 3.00%
Minimum
As announced in the August edition of UA News, the guaranteed
minimum interest rate has been lowered to 3% where state approved.
The new money interest rate for the month of September is 3.50
percent for these states. Rates will continue to be reviewed and
adjusted accordingly.
Lifestyle Annuity: 4.00%
Minimum
Certain states will retain a 4% minimum guarantee rate until the 3%
rate is approved. The new money interest rate for the month of
September is 4.00 percent for these states. Rates will continue to
be reviewed and adjusted accordingly.
The Deposit Fund Rider interest rate
for 2003 has been set at 4.00 percent.
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Good
News!
United American Agents can now sell the United Investors line of
term life, interest sensitive life and annuity products, and
this production will count towards qualifying for the 2004 Sales
Convention at the Atlantis Resort. Log on to www.uilic.com
to learn more about United Investors Life products. |
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Attn:
Life Agents
HIPPA Requirements:
Effective immediately, the HIPAA
Compliant Authorization will be required on all Life applications
with face amounts exceeding $50,000 or in cases where a policyholder’s
combined Life coverage in-force with UA exceeds $50,000.
As the insured’s underwriter has the discretion to request medical
records on any individual, occasionally the HIPAA Compliant
Authorization will be required on applications with smaller face
amounts.
Deposit Fund Rider Changes:
Also effective immediately, the total balance of deposits
into the Deposit Fund Rider (DFR) will be limited to twice the face
amount of the benefit purchased on the RT-85 policy. For
example, if the face amount on the policyholder’s RT-85 is
$10,000, the maximum DFR account balance would be $20,000. Any State
deposit restrictions still apply. |
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Attn:
All Agents
UA Agents may order supplies via e-mail at uaagentssupply@torchmarkcorp.com
or by fax to 405-752-9341. Orders placed to any other address or
number may experience delays. |
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Attn:
ND Agents
The North Dakota Department of Insurance is asking that any Agent
with the knowledge or reasonable belief of fraudulent insurance acts
which are, will be, or have been committed to contact their offices
within 60 days of determining fraudulent activity. Agents may
contact Laurie Wolf at the ND DOI by telephone at 701-328-2442 or by
e-mail at lwolf@state.nd.us. |
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Attn:
CA Agents
The California Department of Insurance will increase its fee
schedule by 10 percent effective January 1, 2004. An Agent who
currently pays a bi-annual renewal fee of $130 will now be paying
$144 or $14 more every two years. Also please be advised that a $22
termination fee will be imposed on non-renewing Agents. For more
information, please log on to www.insurance.ca.gov
and search for Bulletin No. 2003-2. |
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August
UA News Correction
UA’s Critical Illness product is not approved for
use in Arizona.
The plan is filed, and we will post the approval as soon as it is
received. We apologize for any confusion this may have caused. |
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September
2003
Final Expense Insurance: A Custom Fit! 