3.1.2021 – Protective Life has released their latest rate update for the Classic Choice Term NY products including the additional 35 and 40 year products. Please note that this update only affected the NY products. All other states remain unaffected. Please contact a member of the Milner Sales Team if you should need assistance with quoting these products. 800.926.9206 x 2000 / Sales@milnergroup.com
2.22.2021 – Prudential has released their latest rate update for the Term Elite and Term Essential products. Please note: All states have approved this update except DE and GU which will continue quoting the older products.Please contact a member of the Milner Sales Team if you should need assistance with quoting these products. 800.926.9206 x 2000 / Sales@milnergroup.com
1.28.2021 – John Hancock has increased the minimum face amount for all of their Protection Term, and Vitality Term products has been changed to $750,000.
1.18.2021 – American General has released their latest rate update for the Select-A-Term products. Please contact a member of the Milner Sales Team if you should need assistance with quoting these products. 800.926.9206 x 2000 / Sales@milnergroup.com
1.11.2021 – Principal announces Important life insurance product updates: CLICK HERE FOR DETAILS
1.11.2020 – Lincoln LifeLife Elements and Term Accel updated: Life Elements Rate Update — Lincoln has released their latest rate update for the LifeElements products. Please note that this update was for all states except AR, MA, MD, MO, NY OR, PA. The unapproved states will continue to quote the older product rates. TermAccel Rate Update— Lincoln has released their latest rate update for the TermAccel products. Please note that this update was for all states except AR, MA, MD, MO, OR, PA. The unapproved states will continue to quote the older product rates.
1.11.2021 – Pacific Life: Promise GUL Data Update — The maximum face amount for the Pacific Life Promise GUL products has been increased to $5,000,000.
1.11.2021 – Protective: Classic Choice Term Rate Update — Protective has released their latest rate update for the Classic Choice Term products.
1.6.2021 – Banner/William Penn (LG America) has released updated rates for the Banner & William Penn OPTerm products. Contact your Milner Agent Relationship Manager should you need assistance with quoting these products. 800.926.9206 x 2000 / Sales@milnergroup.com
1.1.2021 – Popular Rider Return with Transamerica – Effective 1/1/2021, Transamerica has resumed accepting applications with Long Term Care (LTC) and Living Benefit Riders (LBRs) for insures age 56 to 75, subject to normal underwriting requirements*
* All IN-FLIGHT cases, or those not yet issued, will be eligible to add LBRs/LTC riders up to the time of issue with underwriter approval.
12.31.2020 – Symetra has discontinued the sale of their UL-G product effective close of business, December 31, 2020
12.14.2020 – Protective Life set a maximum premium of $500,000 on both their Lifetime Assurance UL product and their Advantage Choice UL products.
12.7.2020 – Nationwide CareMatters® II Product Update
Nationwide is committed to carefully managing their life product portfolio to remain a strong, stable carrier you can rely on. To keep this commitment – and in response to the sustained low-interest rate environment and regulatory updates – Nationwide will implement pricing updates to Nationwide CareMatters II. This is a change to premiums and Guaranteed Cash Value tables only. There are no changes to the product structure, contract language, forms, or types of benefits provided. There is no change to in-force policies because of this update.
Product Changes – Nationwide took a surgical approach in determining premium changes to ensure they remain competitive in their target market. Within their target market, ages 40 to 65, Nationwide chose to remain very competitive on multi-pay premium policies, specifically those with 3% compound inflation protection.
Effective January 11, 2021, for new business within their target market,
you can expect the following premium increases, on average:
3% Compound No Inflation
– Single Pay: 8% – Single Pay: 11%
– Multi Pays: 11% – Multi Pays: 16%
**Couple, Nontobacco, Minimum Refund of Premium with Maximum LTC Benefit option** Premium changes outside of their target market will vary based on the characteristics of your case. They have also increased the Guaranteed Cash Value tables as a part of this product update.
For new business, you can expect the following increases to
Guaranteed Cash Value tables, on average:
Policy Year 20 Policy Year 25 Policy Year 30
–> 8% –> 6% –> 4%
Increases will also vary by age and underwriting class. While current interest rates and economic conditions necessitate these changes, Nationwide is committed to offering competitive long-term care solutions for you and your clients.
Click Here for Nationwide Transition Guidelines For additional assistance, contact Kandi Williams at 800.926.9206 x 110 / email@example.com
10.19.2020 – Prudential releases new rates for their VUL Protector® product. Click Here for announcement and transition rules.
10.19.2020 – Protective’s Protective Advantage Choice UL 10-20 update. On Monday, October 19th, Protective released their Protective Advantage Choice UL 10-20, replacing their Protective Advantage Choice UL 12-19 product. On Wednesday, October 21st, rates were made available on the LifeTrends website. An overview analysis is forthcoming. Click Here for transition rules.
10.8.2020 – Banner and William Penn announce New Term Rates! Give your clients the option to purchase simple, straightforward protection that can cover them into retirement and beyond. Our competitive, guaranteed level term OPTerm series comes in durations of 10, 15, 20, 25, 30, 35 and 40 years! Click Here for Details
9.29.2020 – John Hancock released a new version of their accumulation specific indexed universal life (IUL) offering, the Accumulation IUL 20. This release primarily aims at bringing it into compliance with Actuarial Guideline (AG) 49-A1 , and they are the second company to explicitly do so. Illustrated performance is curbed back by significant levels with this update; however, their multiplier allocations continue to be available (see below for more info). It currently lands generally towards the middle or back of the pack as one of the first multiplier products to move into regulation compliance. We expect this market will see product positioning shift as more accumulation IULs move to AG 49-A. Read entire OVERVIEW. (Source for information – LifeTrends)
|9.28.2020 – Prudential Announces – LifeInsight – Even More Products Offered |
We are continuing to enhance LifeInsight with the addition of innovative tools and products! Our most recent product addition is the refreshed Index Advantage UL. For more about LifeInsight and its differentiated capabilities, please reach out to your local Prudential wholesaler.
Click here →
8.12.2020 – Good News from Lincoln sharing Product and Underwriting Changes!
8.11.2020 – Banner/William Penn – OPTerm Rate Update!— LG America has released their latest rate update for the Banner/William Penn OPTerm products.
Sagicor – Sage Term Rate Update!— Sagicor has released their latest rate update for the Sage Term products.
7.22.2020 – Prudential released new rates for their PruLife® SVUL Protector(2020). Click Here to learn more.
7.21.2020 – Lincoln increases rates on LifeGuarantee SUL! Click Here to learn more.
7.20.2020 – Prudential Annouces 30yr term is back! Click Here to learn more.
|7.6.2020 – Prudential has announced changes to both their product portfolio as well as their retention limit (see below), but we have you covered with the best solutions when you need them the most! |
PruLife® Universal Protector Effective July 13, 2020, Prudential will be suspending new sales of PruLife Universal Protector.
Learn more →
Solutions to consider:
Prudential ‘s Founders Plus UL – With the Prudential’s expiring GUL would be the Prudential Founders Plus UL as it allows for lifetime guarantees as well as potential accumulation and is customizable to fit individual clients’ needs for either focus.
Learn More About Founders Plus UL Here
Prudential ‘s VUL Protector -This VUL provides cost-effective death benefit protection with a meaningful No-Lapse Guarantee and the potential for cash value accumulation.
Learn More About VUL Protector Here
Retention Limits Are Changing Effective July 7, is changing their maximum retention limit to $10 million on single and survivorship life insurance.
Learn more →
6.15.2020 – Lincoln Financial suspends their Table Reduction Program.
6.15.2020 – Securian Financial announces Pricing Update to SecureCare Universal Life/ LTC. Click here for details and transition rules.
6.15.2020 – Lincoln Financial MoneyGuard announcement: Given the industry’s historically low interest rate environment, and that insurance products with guarantees tend to be more sensitive to macroeconomic trends, Lincoln is making prudent and responsible business decisions to adjust the pricing of our products.
6.2.2020 – Principal announces permanent product price increase!
6.1.2020 – American National Signature GUL Reprice announced: Click here for details and transition rules.
5.21.2020 – Price Increase – North American announced permanent product price increase today.
5.11.2020 – AIG annouces rate increase nationwide –Secure Lifetime GUL 3 Effective May 30, 2020, premiums on Secure Lifetime GUL 3 (issued by AGL and USL) will see an increase as the result of recent declines in interest rates and increased market volatility. At AGL and USL, we are committed to providing competitive, attractive guaranteed life insurance products to your clients. Rate Changes Guaranteed premium to increase on average 15% varying by age and payment duration.
• Guaranteed Return of Premium: Built-in, no cost option to receive
50% end of year 20 or 100% end of year 25
• Partial withdrawal capability feature
• Optional Accelerated Access Solution® for chronic illness coverage
up to $3 million of client’s base policy
• Optional Lifestyle Income Solution ® that provides a guaranteed
income by accelerating the death benefit
• New GUL rates are effective May 30, 2020.
• Applications received on or after May 30, 2020 will receive the new rates.
• Starting 4:00 PM CDT on May 29, 2020 only the new rates will be available in WinFlex.
• To receive the old rates, applications must be received on or before May 29, 2020.
• Reissue requests will not be honored. AG Quick Ticket
• New GUL rates are effective May 30, 2020.
• Applications submitted via Quick Ticket by May 29, 2020 will receive the old rates if AIG receives the
application in good order by June 15, 2020.
• Applications submitted via Quick Ticket by May 29, 2020 will receive the new rates if AIG receives the application in good order after June 15, 2020.
• Applications submitted to AIG via Quick Ticket on or after May 30, 2020 will automatically receive the new rates.
• Reissue Requests will not be honored.
|5.11.2020 – Lincoln Announces Price Increase on Perm Product! Lock In Lower Rates For Your Clients Now!Pricing Update – Lincoln LifeGuarantee® UL (2019) – 05/11/20|
Effective May 11, 2020, Lincoln is announcing pricing updates on Lincoln LifeGuarantee® UL (2019). Lincoln LifeGuarantee® UL (2019) – 05/11/20 will replace Lincoln LifeGuarantee® UL (2019) – 11/11/19 for all states that are approved at rollout.
The following pricing updates apply:
• Premiums have increased 20% on average 3
• Target premiums have increased to be aligned with updated lifetime level premiums
All states are automatically approved at rollout with the exception of New York (where the product is not currently available).
Transition period begins on May 11, 2020 and ends on May 22, 2020.
• For the old product, formal applications must be signed, dated and received in-good-order in Lincoln’s home office by the end of the transition period to qualify.
• For LincXpress® Tele-App Cases, a complete ticket and required solicitation forms must be received in Lincoln’s home office by the end of the transition period to qualify.
• For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to the Lincoln LifeGuarantee® UL (2019) – 05/11/20
• For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.
• For cases with the owner listed as “Trust to be Established”, formal applications received in the Home Office by the end of the transition period and have been signed by the insured will still qualify as awaiting a trust to be set up is part of the normal course of business. The only paperwork that Lincoln will not require at submission is the executed Certification of Trustee Powers with the trustee/owner’s signature. It must be received prior to issue.
• For formal applications that expire prior to Issue or have been closed out, a new Part I must be submitted, and the case will be subject to the rates available at that time.
Click here to view the Universal Life state availability.
5.4.2020 – AIG announces Select-a-Term updates: NEW, IMPROVED RATES! As of May 4, 2020 all bands of Select-a-Term just got even more competitive nationwide.
5.1.2020 – Effective May 4, 2020, Pacific Life is introducing premium increases for PL Promise GUL¹, a universal life insurance product with no-lapse guarantees. Premium increases reflect the continued low interest rate environment. Despite these changes, PL Promise GUL remains competitive for a wide variety of consumer combinations and still includes top rankings especially at low face amounts and age 90 guarantees.
4.30.2020 – Prudential annouces IMPORTANT updates to their PruFast Track accelerated underwriting process! THey are increasing the face amount limit from $1million to $3 million… AND eleminating the medical exam and lab requirements, where possible for applicants 60 or younger for $3 million or less in face amount coverage!!
4.29.2020 – Zurich announced the luanch of their NEW Survivor IUL April 13th. Highlights include: Competitive- Strong for both cash accumulation and death benefit sales – Extended Guarantees: Optional death benefit guarantee up to age 90 – Convert two Terms: Opportunity to convert Zurich Term into Survivor IUL.
4.22.2020 – Protective Life introduces their new Assurance UL Product. Click link below for details.
4.21.2020 – Nationwide re-prices CareMatters II. Click link below for details and transition rules.
4.13.2020 – Prudential provides product, rate, and caps change details. Click link below for details and transition rules