Aleka Oswald Insurance

The Social Security program is expected to run short of cash to pay promised benefits in about ten years, while a key trust fund for Medicare will run out of funds by 2031, according to new forecasts issued Friday by trustees of both programs.

The projections serve as an annual reminder that the popular programs rest on shaky financial footings. While any effort to patch them is sure to face stiff political opposition, doing nothing is likely to be worse.

Social Security benefits for retirees and others are primarily paid for through payroll taxes on current workers, and are supplemented by a trust fund.

High inflation leads to the biggest raise in Social Security in more than 40 years
ECONOMY
High inflation leads to the biggest raise in Social Security in more than 40 years
Benefits paid out by the program have exceeded money coming in since 2021, and the trust fund is now expected to be depleted by 2033. That's a year earlier than forecast last year, thanks in part to slower economic growth.

Unless changes are made before then to shore up the program, 66 million Social Security recipients would see their benefits cut by 23-25%.

Meanwhile, the Medicare trust fund, which supplements payments to hospitals and nursing homes, is also running out of cash. That could result in an 11% pay cut to health care providers unless changes are made by 2031. That deadline is three years later than had been forecast last year.

For more information click the link below:

Social Security is now expected to run short of cash by 2033 Policymakers will need to patch the Social Security program by 2033 to avoid draconian cuts in benefits, a year earlier than had been predicted. A trust fund for Medicare will run out of cash by 2031.

https://youtu.be/R8F_UfKU8JY

Working with IAMS

Better banking is here. Up to 4.40% APY1
and FDIC insurance up to $2M.
Pay no account fees
No account, overdraft, or monthly fees^—just great banking.

Earn up to $250 with direct deposit
Just open your account and set up direct deposit.†

Get paid up to two days early
Once you’ve signed up for direct deposit, you can get your paycheck early.*

Access additional FDIC insurance up to $2M6
on deposits through a seamless network of participating banks.

Better banking is here. Up to 4.40% APY1
and FDIC insurance up to $2M.
Pay no account fees
No account, overdraft, or monthly fees^—just great banking.

Earn up to $250 with direct deposit
Just open your account and set up direct deposit.†

Get paid up to two days early
Once you’ve signed up for direct deposit, you can get your paycheck early.*

Access additional FDIC insurance up to $2M6
on deposits through a seamless network of participating banks.

Open an account click link below:

Join Checking and Savings | You’ve been invited! For a limited time, get $25 when you sign up for checking and savings and deposit at least $10. Get an additional $250 and earn up to 4.40% APY with direct deposit. Best of all, you won’t pay any account fees!

Current Top MYGA Rates
Here are the most current top MYGA rates that we offer. To access our interactive database of additional annuity products please register for a free account or log in here.

Once you’ve logged in you can view each Annuity product category on this page. Scroll below to the Annuity Resources and Tools section where you’ll find the products separated by Indexed, Fixed, MYGA, Income Rider, etc. Click on the product type to view the full detailed grids.

Profitable Annuity Solutions
At Insurance Agency Marketing Services our experience gives us the ability to understand that what is important to you is important to us.

With this in mind, we make it our sole mission to provide you with the most cutting-edge products, superior case design, and the highest commission levels in the industry.

We currently offer annuities from more than 30 different industry-leading carriers. When you factor in our expert new business team and focused administration staff – there is no better home for your annuity business.

Live knowledgeable people answering the phone
World-class production builders
Personal access to the decision-makers
Proprietary producer and business development programs
Annuities From More Than 30 Industry Leading Carriers
Experts Will Help You Navigate The Complex Marketplace
Product Comparisons and Annuity Illustrations
Top Multi-Year Guaranteed Annuities as of July 19, 2023
Company Product Period Rate Action
Clear Spring Life Preserve MYGA 1 1 yrs 4.25% Learn More
Oceanview Life and Annuity Harbourview 2 2 yrs 4.70% Learn More
Upstream Life Secure Legacy 3 Year 3 yrs 5.65% Learn More
Oxford Life Insurance Company Multi-Select 4 4 yrs 5.05% Learn More
Americo Platinum Assure 4 4 yrs 5.05% Learn More
Ibexis MYGA Plus 5 (Simple Interest) 5 yrs 5.65% Learn More
The Ohio State Life Insurance Company Nex5 5 yrs 5.65% Learn More
Upstream Life Secure Legacy 5 Year 5 yrs 5.65% Learn More
Atlantic Coast Life Safe Haven 6 6 yrs 5.42% Learn More
Ibexis MYGA Plus 7 (Simple Interest) 7 yrs 5.55% Learn More
American National Insurance Company Palladium MYG Annuity 8 8 yrs 5.45% Learn More
American National Insurance Company Palladium MYG Annuity 9 9 yrs 5.45% Learn More
EquiTrust Life Insurance Company Certainty Select 10 10 yrs 5.40% Learn More
Upstream Life Secure Legacy 15 Year 15 yrs 3.50% Learn More
Atlantic Coast Life Safe Haven 20 20 yrs 4.75% Learn More
Powered By AnnuityRateWatch.com

Single Premium Life Strategies
Single premium life is the perfect solution for clients looking to shelter assets with an ultimate objective of transferring wealth. With its simple issue, accelerated benefits and tax favorable treatment, clients can enjoy the safety and liquidity they seek in their golden years.

Today’s single premium life products differ tremendously than the products of old in that many offer first-year bonuses, return of premium features and indexed linked returns.

More often than not these products are offered as an annuity alternative providing tax deferral, safety of principal and speed of issue with no exams. In addition, they provide accelerated benefits for terminal illness, long-term care or home health care with a tax-free wealth transfer to the next generation.

If you have clients with assets they don’t plan to “live on” but rather “leave on”, a single premium life product may be the right solution. With our diverse portfolio of products, we are confident we can help place your most difficult single premium life cases.

Click the link below for additional information:

www.iamsinc.com

Cancer Insurance
Why People Need It

Cancer can touch anyone, anywhere, at anytime, and at any age. Often, it is without warning or symptoms. Join with Senior Director Dave Oliver as he discusses how to market our Cash Cancer Plan1 on his CANCER! Insurance Everyone Should Consider webinar held tomorrow, Tuesday, at 10AM Eastern. Dave will introduce the Cash Cancer product, review pivoting and sales techniques, and discuss the paper and electronic applications.

Register Today
The opportunities do not end with this webinar. More are available to you whether you are a first time agent, or a long time agent looking for a refresher. Logon to the General Agent Portal (GAP) and visit the Agent Resource website for more of our informational training webinars, or use the link below to view and register for one of our other informative webinars.

Webinar and Seminar Schedule
Link below:

register.gotowebinar.com

Reviewing Your Marketing Plan - Insurance Agency Marketing Services Quarterly reviews of your marketing plan are a good way to make sure your efforts and budget are being maximized.

Brookfield Reinsurance to Acquire American Equity Investment Holdings Company
Brookfield Reinsurance, American National’s parent company, has entered into an agreement to acquire American Equity Investment Life Holding Company (AEL).

Brookfield invested in AEL in 2020, currently owns approximately 20% of AEL and provides AEL with significant reinsurance support. This is a significant and meaningful step in Brookfield Reinsurance’s commitment to become a leading provider of annuities in the United States.

The acquisition of AEL, a leader in the fixed indexed annuity market, coupled with the capabilities of American National, creates a unique opportunity to accelerate profitable growth in the U.S. annuity marketplace. The acquisition is expected to close during the first half of 2024. Ultimately, we expect to find opportunities to leverage the strengths of both companies and brands and continue to expand our presence in the growing annuities marketplace. For now, we carry on with our FIRST values, doing all we can to generate profitable growth and provide our policyholders and distribution partners with excellent experiences.
Read full press release below:

Brookfield Reinsurance to Acquire AEL in $4.3 Billion Transaction BROOKFIELD, NEWS, July 05, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE) and American Equity Investment Life Holding Company (NYSE:...