Compass

MoneyGuard- Important Changes (8-27-19)

Lincoln Financial has announced upcoming changes to MoneyGuard pricing. This is a good opportunity to take advantage of current pricing. Details below or available here. 

 Recommendations and Tips:

 Take advantage of the current pricing. Revisit conversations and illustrations run in the last few years that clients chose to wait or to self-fund

 Prepare for Increase in processing time with increase in submitted business: With the upcoming deadlines, the anticipated influx of business may lengthen turn-around times. The sooner the application is submitted, the shorter the turn-around on the new business process.

 Double check State LTC Training Requirements and Appointment for MoneyGuard®:  Be sure that you have completed original State required ltc training and/ or refresher (every 2 years) and that your appointment is up to date and good order prior to submission of new application or first submission.  

MoneyGuard® II Sunset Dates and Deadlines

  • October 1, 2019 - Lincoln suggests applications be submitted on all cases with 1035 Exchanges to ensure adequate time to receive funding and return delivery requirements
  • November 1, 2019 - Formal Application Submission Deadline to apply for MG2
  • December 27, 2019 - Lincoln suggests all premium(s) and delivery requirements are received in-good-order before hard deadline
  • December 31, 2019 - IMPORTANT: Hard cut off on placement of all cases with premium and delivery requirements returned.  No exceptions – this is not a Lincoln requirement; it is mandated by new PBR and CSO standards. No rewrites allowed.

 Contact our case design team with any questions: 412-281-0600 or ubs@ubsnet.com