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Update News for January 2013    

Here is a quick run-down on what you will find in this bulletin:

These topics will be dealt with in more detail throughout this bulletin.

Happy New Year

The New Year is always a great opportunity to extend our ongoing thanks and appreciation to our many subscribers for their continued support of Compulife throughout the past year. Obviously we could not do what we do without the thousands of subscribers who purchase our software. Each subscriber is an important part of the success of this business. Thank you!

We know we have to earn your business and we work hard to do so. We hope that our ongoing efforts have contributed to your success in 2012 and that they will continue to add to your profitability in the New Year. We hope our software earns you back many times more than what it costs you to use it.

All the very best to you and your family in 2013.

Company Moving - Address Change

We haven't talked about this until now but Jeremiah (Bob Barney's son-in-law and office manager for Compulife) is coming to the end of a year long construction project. Jeremiah has a brand new home about 30 minutes south of Nicholasville. Nicholasville is where our old office has been located for the past 15 years.

Just about 4 years ago Compulife had the opportunity to acquire a 7.5 acre lot with 300' of frontage on a nice lake. We bought the land as an investment, with the view that someday, a long time in the future, Jeremiah and his wife Aimee (Bob and Pat's daughter) might be able to build a new home on the lake.

Last winter it was decided to gamble that interest rates would stay low until the U.S. elections in 2012. Bob encouraged Jeremiah to think about beginning the process of building. Jeremiah and Aimee decided to put their previous home up for sale, not wanting to start the new project until they knew that they had their old house sold. That sale happened relatively quickly and so they moved into a town house, hired a contractor, and got the project started.

As part of the deal Compulife has made an investment in the basement of the new home. Instead of 8 foot basement walls, we deepened the basement to 10 feet so that the finished space would give us a minimum 8 feet under the support beams and structure. The basement is a walkout facing the lake. The views from the new office are quite spectacular and a huge upgrade from the old offices where we had the back of a strip mall out the front windows and a storage facility out the back windows. In addition we have about 3 times the space that we had at the old office, which was cramped.

Needless to say, Jeremiah won't have far to travel to work. That's only fair given that Bob and Compulife's two Canadian employees already work from offices in their homes. This change means that all of Compulife's staff can now work from home with one exception. The only person now faced with travel to work is Pat, who will have the bonus of getting to see the grandchildren each day when they return from school.

All in all we think the changes will make life much better here at Compulife.

The address for the new office is:

Compulife Software, Inc.
1509 Paradise Camp Road
Harrodsburg, KY 40330

Actuarial Guideline 38 - AG38

As a follow-up to last month's bulletin, we warned you that a new regulatory reserve requirement was going to lead to a large number of no lapse UL products being re-priced. As of the writing of this bulletin, 8 life insurance companies are introducing new rates for their no lapse UL policies effective January 1, 2013. While it was a load of work, we stayed on top of it all during December and all 8 life companies are in the January monthly update.

We fully expect that there will be some further changes during January and that we are likely to be hit with a few last minute changes. A number of companies have been scrambling to get the rate changes processed, and the new rates into our hands. You'd be surprised at the times of the day we are getting some emails with rates attached.

The biggest problem facing agent/brokers is what happens to in progress business. Many companies have requirements that policies actually be issued by December 31st, or the new rates will apply. If you have any questions you will need to be in touch with the companies themselves. It's going to be a mess for a couple of months.

Term4Sale Listing Renewals

As occurs each year a certain number of subscribers are late in paying for their term4sale zip code listing renewals. While we try to allow for a grace period, demand for zip code listings has been increasing which is one of the reasons that we raised the price for 2013. The old fee for a zip code listing was $12 for the year, it is now $15. We assume that the new price will result in a certain amount of attrition. The good news is that it will open up previously full zip codes for agents who have been wanting them.

If renewals are not received by January 4th, a credit will be issued for the unpaid invoice and the zip code listing(s) will be deleted from the customers account. Once all the deletions have been made, an email will be sent to ALL Compulife subscribers advising that the zip code database has been updated. If you have been wanting to add zip codes, receipt of that email would be a very good time to review your listings to determine if previously full zip codes are now available for purchase.

As always, paid zip code listings are on a first come, first served basis. Once a subscriber has paid for a zip code, they can only be bumped by a subscriber asking for that zip code as a "home" or "free" zip code. If you don't understand how that works, you can read about it at:

Zip Code Analyzer

Can You Help Us Add More Forms?

During December, I had the following email exchange with one of the users of our internet quote engine:

After that email exchange, I went ahead and produced the following email to each of the life companies that were on the list of those whose forms we don't have. Here is what I wrote:

The point of sharing this with you is that I heard back from one company who wanted to know how many of our subscribers had been asking for their forms in Compulife. That was a nice way of saying they were only interested in greasing a squeaky wheel. In other words, if you didn't care if the company's forms where in Compulife, they didn't care either.

So here is what I am asking you do to. If one or more of the following companies is a company that you do business with, would you please email the company and tell them that it would be very helpful to you if you could have their forms available in Compulife. And just to make it easy, here's the list of companies we'd like to add:

NOTE: Lincoln Benefit Life has already begun the process of providing us with their forms.

And if there is a company not on any of the above lists, that you would like to add to our forms library, please don't be shy in letting us and them know that you want their forms in Compulife