Life Insurance

Prudential – New Pricing on PruLife SUL Protector

  Changes to SUL Protector Prudential strives to offer a relevant suite of products that align to a variety of customers’ needs. To reinforce our commitment to the no-lapse guarantee marketplace we are introducing new pricing on PruLife SUL Protector, effective August 21, 2017. The updated version has similar changes to those made to PruLife Universal Protector earlier this year. The new pricing incorporates the 2017 CSO table, uses Principal Based Reserves, and will help maintain the sustainability of SUL Protector. We will continue to monitor pricing on our entire suite of products and exercise the financial discipline that has helped Prudential provide enduring value to its clients for over 140 years. Reprice Details * Level pay scenarios will increase 6% on average. * Single pay scenarios will increase 14% on average. * Face amount limits will be removed on applied for policies using the new rates. * Introduction of 1st year flexibility, limits impacts to the No-Lapse Guarantee when premiums are paid later in the first year than anticipated in illustrations. This can be particularly beneficial for 1035 exchanges and backdated policies. * CTPs will be increased and generally be higher than level pay premiums. * Limited NLG (premium based) period increasing from 5 years to 10 years.  
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American National – Illustrations on iPipeline iGo Being Discontinued

Illustrations on iPipeline iGo Being Discontinued     Effective 9/1/17, illustration capability within iPipeline iGo will no longer be available. Illustrations should be run utilizing ExpertIllustrator within ExpertOffice. Please note however, that iPipeline will continue to support quotes on the GUL and Term products through LifePipe.    Reminder: Updated Annuity Disclosures       Effective 8/1/2017, new annuity disclosures are required for several products, as seen in the chart available here. Please use the new forms to avoid a delay in business. New forms are available in ExpertForms.   Reminder: Updated Supplemental Application for ASIA PLUS    Effective 8/1/2017, new supplemental applications are required for ANICO Strategy Indexed Annuity Plus, as seen in the chart available here. Please use the new forms to avoid a delay in business. New forms are available in ExpertForms.
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Prudential – PruLife SUL Protector Changes

Changes to SUL Protector Prudential strives to offer a relevant suite of products that align to a variety of customers’ needs. To reinforce our commitment to the no-lapse guarantee marketplace we will be introducing new pricing on PruLife SUL Protector. The updated version has similar changes to those made to PruLife Universal Protector earlier this year. The new pricing incorporates the 2017 CSO table, uses Principal Based Reserves, and will help maintain the sustainability of SUL Protector. We will continue to monitor pricing on our entire suite of products and exercise the financial discipline that has helped Prudential provide enduring value to its clients for over 140 years. Reprice Details
  • Level pay scenarios will increase 6% on average.
  • Single pay scenarios will increase 14% on average.
  • Face amount limits will be removed on applied for policies using the new rates.
  • Introduction of 1st year flexibility, limits impacts to the No-Lapse Guarantee when premiums are paid later in the first year than anticipated in illustrations. This can be particularly beneficial for 1035 exchanges and backdated policies.
  • CTPs will be increased and generally be higher than level pay premiums.
Limited NLG (premium based) period increasing from 5 years to 10 years.
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National Western – Withdrawal Benefit Rider Updates

WBR Revisions Now Available!   Due to continued regulatory requirements affecting annuity income riders, NWL will be implementing changes to the Income Outlook and Income Outlook Plus 5 Withdrawal Benefit Riders effective with applications received on or after August 4, 2017. Changes will initially be applicable to all states except California, Delaware, Hawaii, North Carolina, Ohio, Oregon, Pennsylvania, Washington, and Puerto Rico, and Impact 7S (all states). These states will continue to use the original WBR versions until further notice. The new versions will be referred to as NWL Income Outlook NH and NWL Income Outlook Plus 5 NH.   At-A-Glance:
  INCOME OUTLOOK NH INCOME OUTLOOK PLUS 5 NH
Initial Roll-Up Rate No Change – 3.00% Decreased from 4.00% to 3.00%
Current Annual Rider Charge Rate No Change – 1.00% No change – 1.50%
Maximum Annual Rider Charge Rate Increasing from 1.00% to 2.00% Increasing from 1.50% to 2.00%
 
New Benefit – Nursing Home Confinement Provision After a 2 year waiting period, a Nursing Home Income Doubler is available for up to 5 years (90 day confinement requirement.) After a 2 year waiting period, a Nursing Home Income Doubler is available for up to 5 years (90 day confinement requirement.)
     
     
Additionally, after a 1 year Income Waiting Period, the Withdrawal Payment can be elected on any Policy Anniversary or Policy Monthiversary (any month on the same day as the Policy Date, subject to minor restrictions)! Additional rider variations apply. Log on to MyNWL to review the marketing material including the Highlight Sheets and Consumer Brochures for additional information. 
Applicable States: Form Description: Product Name: Previous Form #: Current Form #:
All states (excluding those listed below): NWL Income Outlook NH – WBR Consumer Brochure Income Outlook NH DM-1049 DM-1337
Income Outlook Highlights – Variation Income Outlook NH DM-1058 DM-1058-VAR
NWL Income Outlook Plus 5 NH – WBR Consumer Brochure Income Outlook Plus 5 NH DM-1120 DM-1338
NWL Income Outlook Plus 5 – Highlights – Variation Income Outlook Plus 5 NH DM-1122 DM-1122-VAR
 
Applicable States: Form Description: Product Name: Previous Form #: Current Form #:
CA, DE, HI, NC, OH, OR, PA, UT, WA, PR NWL Income Outlook – WBR Consumer Brochure Income Outlook DM-1049 No Change
Income Outlook Highlights Income Outlook DM-1058 No Change
NWL Income Outlook Plus 5 – WBR Consumer Brochure Income Outlook Plus 5 DM-1120 No Change
NWL® Income Outlook Plus 5 – Highlights Income Outlook Plus 5 DM-1122 No Change
    Please note: These changes will only impact new issues and will not affect existing in-force policies. These changes will impact any applications with the Income Outlook NH or Income Outlook Plus 5 NH riders that are received on or after the effective date. Be sure to follow up on any pending transfers.