A Vanbridge Company Carrier and Product Updates · 2017. 1. 13. · Carrier and Product Updates...
Transcript of A Vanbridge Company Carrier and Product Updates · 2017. 1. 13. · Carrier and Product Updates...
Carrier and Product Updates Week ending January 13, 2017
Product and Carrier Updates
AIG Updates and Reprice to Select-a-Term Portfolio
Rate increases in lower bands
Rate decreases in upper bands ($500k+)
Addition of a new 35-year duration
New Conversion Credit added
Same rates in NY
New lower band (policies with face values from $50,000 - $99,999, standard class only, non-medical underwriting, under age 60 – must use Quick Ticket)
Read more
Updated and Enhanced Term Conversion Playbook
Identify available opportunity and learn everything you need to complete the conversion process
View Term Conversion Playbook
MetLife to Sunset Products Effective February 3, 2017, MetLife will sunset the following products:
Promise Whole Life Promise Whole Life 120 Promise Whole Life Select 10 Promise Whole Life Select 20 Promise Whole Life Select 65 Guaranteed Level Term (face amounts less than $1M only) Secure Flex Universal Life Provider Universal Life Legacy Advantage Survivorship Universal Life Equity Advantage Variable Universal Life
Key dates for this product sunset are as follows:
February, 3, 2017 - Applications must be received in good order at the Home Office by this date.
March 3, 2017 - Applications for term conversions that do NOT require underwriting must be received in good order at the Home Office by this date. The February 3, 2017 application deadline applies to term conversions that do require underwriting.
April 28, 2017 – Issue deadline
May 26, 2017 – Payment deadline
Read more. Please refer to this web page for more information.
A Vanbridge Company
Carrier and Product Updates Week ending January 13, 2017
Product and Carrier Updates
Prudential BenefitAccess Rider Now Offers More Choice on More Products
Effective January 3rd
Added flexibility with two monthly benefit options—2% and now 4%
This enhanced feature is already on PruLife Universal Protector®
Will be available on four additional products:
Prulife® Founders Plus UL
Prulife® Index Advantage UL
Prulife® Custom Premier II
VUL® Protector
Read more
Important Prudential New York Product Update: Guaranteed Universal Life Premium Changes and BenefitAccess Rider Update
Effective January 17th
Rate increases for new sales of UL Protector policies issued in New York
New version of the BenefitAccess Rider, which offers a choice of monthly benefit payout options (either 2% or 4%), will be availa-ble on all permanent products sold that currently offer the BenefitAccess Rider in New York
Important note regarding a New York state requirement for the BenefitAccess Rider, which applies to new and existing policy owners with BenefitAccess Rider
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Securian Life Lower Advantage Elite Select (AES) Term Rates
Effective January 9th
Advantage Elite Select (AES) Term rates dropping by up to 31%.
Updated term bands
Allowing for up to best class Express Issue underwriting
Learn more and view transition rules
A Vanbridge Company
Carrier and Product Updates Week ending January 13, 2017
Product and Carrier Updates
Voya Financial Voya UL-CV Target Premium Decreasing
Effective February 6th
December 5th - Presents defaulted to new target premiums
December 23rd - Formal applications (including those for backdating) must be received by this date to get old target rates
February 6th - Applications submitted by the 12/23/16 deadline must be issued by this date in order to earn commissions at the current rates
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Annuity Updates Current Fixed Annuity Rates as of 1.1.17
A Vanbridge Company