January 17, 2017
Dear Gleaner Agent:
Interest rates are on the rise! Gleaner is excited to announce that, effective Feb. 1, 2017, we are raising first-year interest
rates on our single-premium Foundation SP6 and flexible-premium Foundation 9 annuities. Rates for our singlepremium Foundation SP9 annuity will remain the same. The new interest rates are as follows:
Foundation SP6
Rate Band
$10,000-$49,999
$50,000-$99,999
$100,000-$249,999
$250,000+
New First-Year
Rate
1.80%
2.15%
2.25%
2.40%
Current First-Year Rate
1.50%
1.90%
2.00%
2.15%
Foundation 9
Rate Band
$1,000-$9,999
$10,000-$49,999
$50,000-$99,999
$100,000-$249,999
$250,000+
New First-Year
Rate
1.60%
2.00%
2.35%
2.45%
2.60%
Current First-Year Rate
1.45%
1.85%
2.20%
2.30%
2.45%
It’s turning into an exciting year for annuities, and we’re celebrating with Gleaner SPINcentives. The first 75 flexible-premium
Foundation 9 annuities sold between Jan. 1, 2017, and March 31, 2017, will earn the writing agent one spin on our popular
digital prize wheel. See the enclosed flyer for more details.
Don’t forget, our Premium Bonus is back for Foundation SP9 annuities. For every Foundation SP9 certificate submitted, we
will add a premium bonus of 50 basis points (0.5%) to the certificate’s initial premium. See the enclosed flyer for more details.
We’ve also extended the qualification period for our Alaskan Cruise Conference of Excellence to March 31, 2017. See the
enclosed flyer to learn more about qualifying for this breathtaking conference.
We look forward to our shared success in 2017! For more information, contact the Distribution Department at 800.992.1894
or email [email protected].
Fraternally,
Grier C. Edwards, MBA, FIC
Assistant Vice President, Distribution and Marketing
Enc.: Gleaner Portfolio, rate change guidelines, Foundation SP9 Premium Bonus, Gleaner SPINcentives, Conference of Excellence
Gleaner Life Insurance Society Portfolio of Annuity Products
FEDERAL TAX LAWS: The maximum contribution for both Traditional and Roth IRAs is $5,500 ($6,500 for ages 50+) for 2017.
Annuity Title
Minimum Deposit
Surrender Charges
Age Limit
Current First Year Interest Rates
Six-year surrender:
6, 5, 4, 3, 2, 1%
Maximum issue
age is 90 years, 72 for
a Beneficiary IRA
(applies to both
annuitant and owner).
$10,000 - $49,999 | 1.80%
$50,000 - $99,999 | 2.15%
$100,000 - $249,999 | 2.25%
$250,000 and over | 2.40%
Nine-year surrender:
9, 8, 7, 6, 5, 4, 3, 2, 1%
Maximum issue
age is 85 years, 68 for
a Beneficiary IRA
(applies to both
annuitant and owner).
$10,000 - $49,999 | 2.50%
$50,000 - $99,999 | 3.05%
$100,000 - $249,999 | 3.10%
$250,000 and over | 3.20%
Nine-year surrender:
9, 8, 7, 6, 5, 4, 3, 2, 1%
Maximum issue
age is 85 years, 73 for
a Beneficiary IRA
(applies to both
annuitant and owner).
$1,000 - $9,999 | 1.60%
$10,000 - $49,999 | 2.00%
$50,000 - $99,999 | 2.35%
$100,000 - $249,999 | 2.45%
$250,000 and over | 2.60%
Foundation SP6
Single-premium deferred annuity
Minimum guaranteed interest rate
of 1.50% for years 1-6, 1.00% thereafter.
Form # ICC15-SPDA6
$10,000 minimum
Foundation SP9
Single-premium deferred annuity
Minimum guaranteed interest rate
of 2.00% for years 1-9, 1.00% thereafter.
Form # ICC15-SPDA9
Foundation 9
Flexible-premium deferred annuity
Minimum guaranteed interest rate of 1.00%.
Form # FPDA9-13
$10,000 minimum
$1,000 minimum
$100/month
(PAC, group bill
or salary savings)
Foundation Premium Bonus
For every Foundation SP9 annuity opened, Gleaner will add 50 basis points (0.5%) to the initial
premium. Applies to new money only; internal exchanges are ineligible for the Foundation
Premium Bonus. Gleaner reserves the right to discontinue this program at any time, but will provide
notice 30 days prior to discontinuation.
Important Notices:
Withdrawals
1. Up to 10% (Foundation SP6 & SP9) or 15% (Foundation 9) of the annuity value may be withdrawn annually without a surrender charge. Withdrawals are non-cumulative.
2.
3.
4.
1.
The initial interest rate may change during the first year if additional premiums are paid or if
withdrawals are taken. This would happen if the account value crosses an interest rate band
due to premium or withdrawal activity.
2.
Foundation annuities have no up front sales charges, annual maintenance fees or service charges.
3.
Renewal rates are subject to change during the lifetime of the certificate. The declared
interest rate, as determined by the certificate type, is applied to both premiums and
existing fund values at the same rate.
Up to four withdrawals per certificate year are permitted without a surrender charge as long as
the withdrawals remain within the allowed 10% (Foundation SP6 & SP9) or 15% (Foundation
9). The certificate language allows one withdrawal per year and we reserve the right to follow
the contract language.
4.
Foundation annuities are available on non-tax qualified and tax qualified plans.
5.
Gleaner Life Insurance Society is domiciled in Adrian, Michigan, and licensed to sell in 13 states
including AZ, FL, IA, IL, IN, KS, KY, MI, MO, NE, OH, TN and VA.
If a member withdraws more than 10% (Foundation SP6 & SP9) or 15% (Foundation 9) of the
accumulated value within a certificate year, the applicable surrender charge will be assessed
only on the portion that exceeds the allowed percentage.
If a withdrawal in excess of the penalty-free amount is taken during the first year, a
pro-rated commission on the portion withdrawn will be charged back to the agent.
(Additional withdrawal details can be found in the Agent Spec Sheet.)
6.
Gleaner does not offer legal or tax advice. Please consult an attorney for legal concerns and a
licensed CPA for tax concerns when working with clients.
Rev. 2/1/2017
For Gleaner sales agents’ use only. Not for public distribution.
SEE REVERSE SIDE
Gleaner Life Insurance Society Portfolio of Life Products
Secure Life
Endurance Life, RMD Life, Legacy Life
Level-premium whole life
Form # WL-06
•
•
•
•
•
•
Issue ages: 0-80
Minimum death benefit: $10,000
Participating plan dividend options
Underwriting classes: JUV, Non-Tobacco,
Tobacco
Riders: Accidental Death Benefit, Decreasing
Term to Age 70, Guaranteed Increase Option,
Paid Up Additions, Waiver of Premium
Simply Life
Single-premium whole life
Form # ICC15-SPWL
•
•
•
•
Issue ages: 0-85 (Endurance Life); 65-75 (RMD Life);
50-64 (Legacy Life)
Minimum death benefit: $10,000 or $2,500*
Maximum death benefit: None (Endurance Life);
$50,000 (RMD Life); $125,000 (Legacy Life, ages 50-60);
$50,000 (Legacy Life, ages 61-64)
Participating plan dividend options
Underwriting classes: NPP, NP, NSP, NS, SP, SS, JUV
Riders: Chronic Illness, Critical Illness, Guaranteed
Insurability Option, Terminal Illness
*Subsequent certificates for RMD & Legacy Life only
One Step
Simplified issue whole life
Form # SIWL-09
•
•
•
•
Modified benefit whole life
Form # GBWL-11
Issue ages: 18-85
Minimum death benefit: $10,000
Maximum death benefit: $35,000
(ages 18-69); $20,000 (ages 70-79);
$10,000 (ages 80-85)
Underwriting classes: NS, NP, NC,
SS, SP, SC
•
•
•
•
Issue ages: 40-85 (40-75 in MO)
Minimum death benefit: $5,000
Maximum death benefit: $25,000
Underwriting classes:
Non-Tobacco, Tobacco
The declared interest rate, as determined by the certificate type, is applied to both premiums and existing fund values at the same rate.
Current universal life interest rates are subject to change at the discretion of the Society.
Creative Life
Gleaner Life Term Solutions
Flexible-premium universal life
Form # ULCV-08
•
•
•
•
•
Issue ages: 0-85
Minimum death benefit: $10,000
Underwriting classes: NU, NP, NS, SP, SS, JUV
Riders: Accidental Death Benefit, Child Term,
Guaranteed Increase Option, Other Insured (up to four),
Waiver of Premium
Current and projected renewal rates:
• 3.10% first fifteen years (subject to change)
• 4.10% years 16 - maturity (subject to change)
For Our Heroes: Same rates, issue ages, minimum death
benefit and form number as Creative Life; Maximum face
amount of $25,000.
Just For Kids®
15-, 20-, 25- and 30-year term life insurance
Form # ICC13-TCERT
Gleaner Life Value Term, Gleaner Life Family Term,
Gleaner Life Duration Term, Gleaner Life Succession Term
•
•
•
•
•
Issue ages: 18-65 (15-year term); 18-60 (20-year term); 18-55 (25-year term);
18-50 (30-year term*)
Minimum death benefit: $50,000
Maximum death benefit: None
Underwriting classes: NPP, NP, NSP, NS, SP, SS
Guaranteed convertible before age 71
Riders: Other Insured Rider** (Spouse or Significant Other), Children’s Term
Rider, Terminal Illness, Waiver of Premium
*Maximum issue age for tobacco users is age 45.
**Must have insurable interest.
Term to age 25
Form # JFK-09
•
•
•
•
Issue ages: 1 month - 17 years
Single premium: $125
Death benefit: $10,000
Guaranteed convertible to
permanent insurance up to $50,000:
1. Option one allows the owner to
convert to permanent life 30 days
prior to the seventh certificate year
anniversary.
2. Option two allows the owner to
convert the certificate 30 days prior
to the insured’s 18th, 21st or 25th
birthday.
www.gleanerlife.org
5200 West U.S. Highway 223
Adrian, Michigan 49221
p 800.992.1894 | f 517.265.7745
Rev. 2/1/2017
For Gleaner sales agents’ use only. Not for public distribution.
SEE REVERSE SIDE
Interest rate change guidelines for
Foundation 9 and SP6
Effective February 1, 2017
1. Applications dated through January 31, 2017, and postmarked on or before February 1,
2017, will be backdated to keep our current rates. If the application is being submitted via
facsimile or email, the application must be received in the Home Office on or before February
1, 2017.
• We will respond to each email submission with a confirmation that it has been
received.
• If you send the application by facsimile, we recommend that you call the Home Office
to confirm that it has been received.
2. Any applications both dated and received on or after February 1, 2017, will receive the rates
that become effective February 1, 2017.
3. For applications received prior to February 1, 2017, that include 1035 exchanges and external
transfers, we will issue the certificate with an issue date that matches the date we receive the
external funds. The member will earn the accumulation rate that is effective at that time. The
certificate will earn the first-year rate for a full 12 months.
4. All other new business guidelines still apply.
r
Gleane
SPIN TO WIN
with Foundation 9!
At Gleaner Life, we appreciate your hard work as agents. To thank you for your
business, we are once again offering our popular agent rewards program, Gleaner
SPINcentives. This digital prize wheel features gift cards worth up to $200 at retailers
like Amazon, Best Buy and more.
Agents who sell the first 75 flexible-premium Foundation 9 annuities between
Jan. 1, 2017 and March 31, 2017 will receive a digital code worth one spin at
Gleaner SPINcentives.
Once you’ve submitted an application, please allow 7-10 days for your spin code to
arrive via email. When you receive the code, click on the link provided in the email,
enter the code and spin away! Once you have redeemed your code, the digital gift
card will be emailed directly to you.
For more information, contact the Distribution Department
at [email protected] or call 800.992.1894.
Gleaner’s flexible-premium Foundation 9 can be opened
with as little as $100 and features...
•
Competitive current interest rates.
•
Guaranteed minimum interest rate of 1%.
•
15% penalty-free withdrawals each year.
www.gleanerlife.org
5200 West U.S. Highway 223, Adrian, Michigan 49221
p 800.992.1894 | f 517.265.7745
#futurefocused
Gleaner Life Insurance Society is domiciled in Adrian, Michigan,
and licensed in AZ, FL, IA, IL, IN, KS, KY, MI, MO, NE, OH, TN & VA.
Foundation 9 form number FPDA 9-13 with state-specific variations.
Foundation SP9 Premium
+BONUS
For every Foundation SP9 annuity
opened after Jan. 3, 2017,
Gleaner will add a bonus
of 50 basis points (0.5%)
to the initial premium.
With these few extra bricks at the base, your clients’
financial foundation can grow even faster through the
power of compounding interest, all while providing
the added benefits of Gleaner membership.
Meet with your clients about
opening a Foundation annuity!
www.gleanerlife.org
5200 West U.S. Highway 223, Adrian, MI 49221
p 800.992.1894 | f 517.265.7745
Gleaner Life Insurance Society is domiciled in Adrian, Michigan, and licensed in
AZ, FL, IA, IL, IN, KS, KY, MI, MO, NE, OH, TN and VA.
The Gleaner Life Foundation Series® form number ICC15-SPDA9 with state-specific variations.
This program will remain available while interest rates are favorable. Gleaner reserves the right to end the
Foundation SP9 Premium Bonus, but will provide agents with 60 days’ notice.
Rev. 12/16
Alaskan Cruise |
July 21-28, 2017
Explore America’s last frontier on a luxury cruise with stops along several of
Alaska’s famed sights. This trip features a blend of days at sea and land to
provide the ideal combination of rest and exploration. Conference of Excellence
qualifiers depart from Seattle for an eight-day cruise that highlights the scenic
beauty of North America’s northwest region complete with luxury cuisine and
all of the amenities of a resort aboard Celebrity Solstice.
Qualification period
extended to March 31!
New business submitted between January 1, 2016 - March 31, 2017, and in force on
March 31, 2017 will count toward the qualifications.
Top Qualifiers
Agent qualification levels
Gleaner agent*
$15,000 annualized premium
Agent and one adult guest
$30,000 annualized premium
These agents receive monetary
awards for their achievements.
• 100% credit - Life premium (excluding single
premium permanent life and JFK)
Premium credit toward
annualized premium requirement
• 5% credit - Single premium permanent life,
JFK and excess target
Total life conference credits
Top agent / Runner-up agent
• 2% credit - Annuity paid premium**
Insurance application
minimum
Exclusions
15 life certificates
(based on applications put in force with premium applied
within the qualifying time frame.)
Overall conference credits
Top agent / Runner-up agent
One Step
*Once agents qualify as an individual for the Conference of Excellence, they will have the option to purchase attendance for a
guest for an estimated cost of $2,500.
**Premium from an annuity internal exchange certificate: 2% of premium will count toward conference credit up to a max of
25% of the total annualized premium qualification.
Example: Gleaner agent qualification: $15,000 annualized premium; max annualized premium credit toward qualification
from annuity internal exchange certificates is $3,750.
1099 Income: Agents that attend the conference of excellence will receive a 1099 for the cost incurred by the Society
for this conference.
Annuity premium based on
overall conference credits
Top agent / Runner-up agent
www.gleanerlife.org
5200 West U.S. Highway 223, Adrian, Michigan 49221 | p 800.992.1894 | f 517.265.7745
Gleaner Life Insurance Society is domiciled in Adrian, Michigan and licensed in AZ, FL, IA, IL, IN, K
S, KY, MI, MO, NE, OH, TN and VA.