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North American Rate Updates

Effective June 28, be making adjustments to the cap and maximum illustrated rates for the following currently marketed products: Builder Plus IUL® 2, Protection Builder IULSM and Smart Builder IUL®.

Click here for more details.

Prudential IUL Index Account Updates

April 2021 Index Account Updates

At Prudential, we are committed to maintaining financial discipline and continue to review impacts to the index accounts, and the upside they can offer. There will be changes to some of the capped, uncapped, and multiplier indexed accounts.

The changes for impacted index accounts will be effective for index segments starting April 15, 2021. Please see below for the complete list of Index Account Changes.

A letter will be sent to policy owners when there are changes to index accounts, informing them of the new cap or spread and that the future segments will be impacted. The letter also indicates that these changes may result in different values than were shown in their most recent illustration and how they can request a current illustration.

If you would like more information or to obtain a new business illustration, please contact the national sales desk at 1-800-800-2738 Option 1.

Click here for the Index Account Changes.

Lincoln Index Account Rate Changes

Pricing Update: Lincoln TermAccel® Level Term (2019) –03/15/21

Effective March 15, 2021, Lincoln is announcing pricing updates to Lincoln TermAccel® Level Term (2019) which will improve competitive positioning in key cells. Lincoln
TermAccel® life insurance offers an entirely electronic, streamlined interview process with fully automated underwriting and no APS requirement

Pricing Updates

▪ The majority of core cells, for all term durations, ages 30 – 60 and face amounts of
$500K – $1M, will rank in the top 3 compared to key competitors

o Preferred Plus class will remain ranked mainly in the top 4 – 7 compared
to key competitors

▪ Premium updates will be a mix of both decreases and increases

Click here for complete details.

Nationwide Product Update with New 7702 Rates

April 12, 2021: Nationwide® products updated with the new 7702 and 7702A rates

Recent changes to Internal Revenue Code sections 7702 and 7702A have lowered the minimum interest rate assumptions used in calculating premium limits. This is good news as it increases the funding limits for policies to qualify as life insurance and allows for higher premiums relative to the specified amount before becoming a modified endowment contract (MEC). Starting April
12, 2021, the new rates will be applied to new business for the following products:

  • IUL products — Nationwide IUL Accumulator II 2020, Nationwide IUL Protector II 2020, Nationwide Survivorship IUL 2020, Nationwide YourLife IUL Accumulator-New York only, Nationwide YourLife IUL Protector-New York only
  • VUL products — Nationwide VUL Accumulator, Nationwide VUL Protector
  • Linked-benefit UL — Nationwide CareMatters® II and Nationwide YourLife CareMatters® (New York & California only)

Click here for complete details. 

Lincoln TermAccel and LifeElements Price Updates

Pricing Update: Lincoln TermAccel® Level Term (2019) – 03/15/21

Effective March 15, 2021, Lincoln is announcing pricing updates to Lincoln TermAccel® Level Term (2019) which will improve competitive positioning in key cells. Lincoln TermAccel® life insurance offers an entirely electronic, streamlined interview process with fully automated underwriting and no APS requirement.

Click here for complete information. 

North American IUL Cap and Rate Changes

Illustrated Rate Changes for Indexed Universal Life Policies

Date: March 11, 2021
Effective: March 29, 2021

Effective March 29, 2021, the following changes will be made to the maximum illustrated rates for North American’s Indexed Universal Life product line. Caps and Participation Rates are not
changing at this time. These are the maximum illustrated rates allowed.

In accordance with illustration regulations, each year at this time, index life carriers are required to update their maximum illustrated rates. The rates reflect a new year in the rolling 65-year historical averages.

Click here for Currently Marketed Products.

Prudential IUL Index Account Updates

April 2021 Index Account Updates

At Prudential, we are committed to maintaining financial discipline and continue to review impacts to the index accounts, and the upside they can offer. There will be changes to some of the capped, uncapped, and multiplier indexed accounts.

The changes for impacted index accounts will be effective for index segments starting April 15, 2021. Please see below for the complete list of Index Account Changes.

A letter will be sent to policy owners when there are changes to index accounts, informing them of the new cap or spread and that the future segments will be impacted. The letter also indicates that these changes may result in different values than were shown in their most recent illustration and how they can request a current illustration.

If you would like more information or to obtain a new business illustration, please contact the national sales desk at 1-800-800-2738 Option 1.

Click here for Index Account Changes.

 

North American New Minimum Face Amounts

New Minimum Face Amount Requirements 349NB

Date: March 22, 2021
Effective: April 24, 2021

As we continue to navigate the current economic environment with a long-term focus in mind, we
remain committed to making decisions that will benefit our producers and policyholders for years to
come. As a result of our continued analysis, we will be adjusting our minimum face amount
requirements on universal life (UL) and indexed universal life (IUL) insurance products with applications
signed April 24, 2021 or after.

Click here for the full field bulletin. 

We’ve doubled up on our non-medical offering!

We’ve doubled up on our non-medical offering!

We’ve doubled up on our non-medical underwriting offering and expanded it on our protection focused IUL and doubled the face amount from up to $500,000 to $1 million! With easy non medical underwriting on qualifying cases, it’s simpler and faster than ever. How fast are we talking about? Strong straight through processing rate, with over 80% of non-med cases approved without exam/labs1 Quick decisioning time with nearly 75% of non-med cases approved in 5 business days or less2 With more people headed towards retirement, the importance of retirement readiness has never been greater. And when planning for a retirement future, cash value accumulation and protecting what your clients have already saved is vital. They want to live comfortably and still leave a legacy for their beneficiaries. Your clients can get a healthy balance of both with Max Accumulator+ II. It offers strategies and features for more cash value and income potential while protecting against market loss. And it’s faster and easier to acquire, thanks to non-medical underwriting. All of these benefits make it a nice complement to other assets in a retirement portfolio.

Max Accumulator+ II
Get your cases
through…FASTER

LEARN MORE
ABOUT
NON-MEDICAL
UNDERWRITING

Click here for the full PDF version. 

Protective Indexed Choice℠ UL Rate Changes

Protective Indexed Choice℠ UL Rate Changes

February 24, 2021

We are pleased to inform you that we will be increasing Protective Indexed Choice UL’s illustrated and loan charge rates so you can better serve your clients.

These rate changes will be available with Protective Indexed Choice UL illustrations beginning March 1 and are effective March 31, 2021.

  • The maximum illustrated rate will change from 5.14% to 5.17%
  • The loan charge rate will change from 4.64% to 4.67%

These positive changes prove to be just one reason why Protective Indexed Choice UL continues to be a solid, well-designed life insurance solution — meeting customers’ expectations and helping us deliver on our promises together.

For more information regarding these rate changes, please contact the Protective Life Sales Desk at 877-778-3500, option 1.

 

Temporary death benefit and premium limits on Symetra permanent and term life insurance products

Temporary death benefit and premium limits on Symetra permanent and term life insurance products

At Symetra, we remain committed to the individual life business and to products that provide value to our mutual customers and are sustainable over the long term.

As a result of the continued low interest rate environment, we will be implementing the following temporary death benefit and premium limits effective Monday, March 15, 2021:

  • Temporary death benefit limit: $20 million
  • Temporary premium limit: $1 million

We are currently reaching out to individuals who have business in house to work through our transition process.

Important dates

March 15, 2021: All formal applications must be received at Symetra’s home office in good order (fully completed, signed and dated).

March 15, 2021: Symetra Life Illustrator and Winflex illustration systems will be updated to include these temporary limitations.

April 30, 2021: The date in which all cases must be issued/paid. For 1035 exchange cases, the deadline will be extended if the only outstanding requirement is the receipt of 1035 funds. Cases that are not issued/paid by this date can proceed, but with a reduced death benefit not to exceed the $20 million limit.

As we continue to work on expanding our product portfolio, we look forward to launching a suite of new products throughout 2021 to help meet your clients’ life insurance needs.

If you have any questions on pending cases, please contact your regional vice president or the Symetra Life Sales Desk at 1‑877‑737‑3611 or lifesales@symetra.com.

Protective Life Bulletin

Protective® Lifetime Assurance UL Change

We have some important information regarding our product, Protective Lifetime Assurance UL.
Effective March 2, 2021, we are slightly increasing rates for our product. This price change enables
us to continue offering this solid, well-designed protection solution that meets customers’
expectations and helps us deliver on our promises — together. We will also be adding a $500,000
face amount band to the product.

New face amount bands

• Band 1: $50,000 – $99,999
• Band 2: $100,000 – $249,999
• Band 3: $250,000 – $499,999
• Band 4: $500,000 – $999,999
• Band 5: $1,000,000+

Transition Rules:

If you have any questions, please contact your Protective Life representative.

• For ticket business and direct writers: applications must be signed and received on or before
Monday, March 29 to receive current rates.
• For paper business: applications must be signed and received on or before Monday, March 15
to receive current rates.
• Any application in underwriting on Monday, March 15 may choose between the old and new
version of the product, but will retain the rates initially quoted unless otherwise requested up
until the case has been approved.

Let’s deliver on our promises. Together.

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2801 US Highway 280 S
Birmingham, AL 35223

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