Sagicor No Longer to Offer Products Direct to Consumer
From Sagicor:
Commitment to Accumulation Products and Brokerage Distribution
Sagicor is committed to providing transparent, accumulation-focused life insurance and annuity products throughout life’s stages. To further our growth in the U.S. market, Sagicor has made the strategic decision to focus on accumulation and retirement products through our valued brokerage agency and agent partners.
Effective immediately, Sagicor will no longer offer products Direct to Consumer, including Sage Term. This decision was made so all resources can be dedicated to our brokerage distribution partners. Sagicor will also be withdrawing Sage Term within brokerage distribution, effective Friday, February 11, 2022. The Sage Term withdrawal allows Sagicor to focus on growing and expanding our accumulation portfolio of products, so you can continue to offer Sagicor product solutions that provide the utmost consumer value.
2022 and Beyond
Sagicor will continue to innovate and bring new products, strategies, features and technology to market in 2022 and beyond, including:
New consumer-centric product releases — including re-introduction of Fixed Index Annuities
Feature and rider enhancements to the existing product portfolio — including Sage IUL, WealthCare, Milestone MYGA and SPIA
New index crediting strategies
Sagicor product availability on new sales platforms
Enhanced technology — to further create an ease of doing business for you and your clients
Sage Term Withdrawal Timeline
Sage Term applications (eApplications and paper applications) must be signed, submitted in good order, and received at the Sagicor Scottsdale home office by Friday, February 11, 2022, 5 p.m., Mountain Standard Time. Applications received after Friday, February 11, 5 p.m., Mountain Standard Time will not be processed and will be returned.
All Sage Term applications must be settled within 14 days of underwriting offer. This includes all premium funds and delivery requirements.
All currently pending Sage Term applications will continue to be processed and must be settled (including premium funds and delivery requirements) within 14 days of underwriting offer.
All quoting and eApplication platforms (including Sagicor’s illustration/eApp available via SagicorAgent.com, iGO, and third-party quoting platforms) will be disabled for Sage Term on or by Friday, February 11, 2022. For updated pending Sage Term illustrations after February 11, 2022, please contact the Sagicor home office at 888-724-4267.