American National – Indexed Universal Life Illustration Regulation Changes

Effective March 1, 2016, new illustration guidelines set forth by the NAIC in Actuarial Guideline 49 will go into effect. The new regulation states that the illustrated rate credited to the variable loan balance cannot exceed the illustrated variable loan interest rate by more than 1%. As an example, in March 2016 the minimum variable loan rate for American National’s Indexed Universal Life products will be 4.55%. Consequently, the maximum illustrated crediting rate on the loan balance will be 5.55%. This will effectively lower the loan distribution amounts from what they are currently illustrating today. To view more details, click here.

Protective Life – Compliance Requirements for Life Insurance Illustrations

Protective Life is dedicated to providing quality service, building trust and simplifying everything for you and their mutual customers. As part of that effort, they want to ensure you stay informed and compliant regarding regulations within the industry. Please review the following reminders about state regulations that may affect the processing of your submitted business with Protective Life. To view the compliance requirements, click here.