In the Know Newsletter for May 2016
New cash accumulation IUL Max Accumulator+ will help insureds accumulate and access tax-deferred funds. Use the new “Life To The Max” interactive sales tool to demonstrate the products’ full value as tailored to your clients’ specific needs. View the joint IUL launch Product Bulletin 16-041 for details.
New death benefit protection IUL Value+ Protector increases life insurance benefits for your client while still offering some unique liquidity options. It replaces Value+ IUL in states where the new Value+ Protector is approved. View the joint IUL launch Product Bulletin 16-041 for details, transition & replacement rules.
Old IUL discontinued
Effective May 2, 2016, Elite Index II has been discontinued for sale in all states except NY. View the joint IUL launch Product Bulletin 16-041 for details, transition & replacement rules.
Updated chronic illness rider Accelerated Access Solution (AAS) now available with Max Accumulator+, Value+ Protector, and Secure Lifetime GUL3. AAS permanency requirements removed, and lifetime benefit maximum increased – see Product Bulletin 16-048 for details.
New operations enhancements
Improved communications about application status, reduced delay risk to applications, and improved protection on your clients’ financial transactions; find out more in New Business Bulletin 16-045.
Policy illustration & quotation requirements Reminder about NAIC illustration requirements, and AIG commission payments for insurance that requires them. For full details review New Business Bulletin 16-040.
Updated Life Interest Rates New rates effective May 2, 2016 available in the updated Life Interest Rate summary.
Term conversion product rules improved New rules apply to inforce term policies and newly issued policies. Please review this important Term conversion Bulletin 16-033
Annuity lockbox addresses changed Please use the new addresses available in Bulletin 16-008