North American – Important Updates

Product Changes in California

Recently signed California Assembly Bill 2884 will require changes to annuity products currently available in California. These changes potentially impact issue ages and surrender charges. While we and other carriers are working now to revise our products, we wanted to make you aware that we will be announcing specific changes and letting you know about new materials at a later date.

Given this new industry requirement and resulting changes, new applications for currently available products should be submitted now to avoid potential disruption. The changes do not impact annuities issued prior to January 1, 2017, so contracts for currently available products need to be issued prior to this date. Please allow time for completion of funds transfer and contract issue on our current annuity products.

Lapse Notices and New Look for SimpleSubmit

Beginning October 21, 2016, we will begin sending lapse notification letters on all UL and IUL policies projected to lapse within five years. Read more information here.

Posted in Bulletins.