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The Legal & General Connection

January 12, 2024
Banner Life

New year, new beginnings

As we step into 2024, a year brimming with possibilities, it's the perfect moment to focus on the future – for you and prospective clients. This is an ideal time to initiate conversations about life insurance, a crucial step toward securing a protected future. Download the linked flyer, add your contact information, and share with clients.

It's more than just reaching out; it's starting the new year with a commitment to security and peace of mind. Let's make 2024 a year of protection and foresight, together.

Download the flyer

Upgrades to processes and platforms

New Policy Owner Options Available: LGA has updated permissions to allow payors other than proposed insured (PI) and policy owner (PO) to enter the payment process. This change went into effect on December 13, 2023. Learn more here.

Partner Dashboard upgrade: The traditional AppAssist and Horizon digital applications have been upgraded to provide near real-time updates. Say hello to faster statuses when visiting "My Business List."

Application Locked Message: A message will now appear in the event of a temporarily locked application. With enhanced clarification comes better advisor and client user experiences.

National Technology Day: In honor of National Technology Day on January 6th, LGA celebrated their superheroes, the IT team, and how they've accelerated innovation and knocked out manual processes, streamlining applications, and faster cycle times

Life insurance set to grow in 20241

As we step into 2024, the term life insurance market is on the cusp of significant growth. LIMRA forecasts a robust increase of up to 3% annually in both 2024 and 2025 for term life insurance. This optimistic outlook follows a period of variable sales trends influences by economic and regulatory factors.

The wider U.S. retail life insurance market is also expected to see a growth of as much as 5% in the coming years. These insights underscore a dynamic period of expansion within the industry, offering a landscape ripe with opportunities for growth and development.

1 LIMRA December 2023, "LIMRA: U.S. Retail Life Insurance Sales Projected to Improve in 2024 and 2025"

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