Carrier and Product Updates Week ending February 3, 2017

Product and Carrier Updates

AIG New Annual Statement Format for Secure Lifetime GUL 3

Starting in February Secure Lifetime GUL 3 clients will receive a newly designed, simplified annual statement. Read more

AXA Extended guarantee on BrightLife® Protect

Guaranteed to age 90 when purchased at age 50 or older

Guaranteed for 40 years if purchased under age 50

Read more | BrightLife® Protect vs. Other IUL Products

Lincoln Financial Important Lincoln Life Product Updates

Effective January 23, 2017 pricing improvements will be applied to the term product portfolio.

Effective February 13, 2017 pricing will increase on the LifeGuarantee SUL product.

Effective March 15, 2017 cap and participation rates will decrease on their IUL product portfolio.

Read more

MetLife to Sunset Products Update to Submission Guidelines for Preliminary Applications

Effective February 6

Will accept Preliminary Applications on face amounts $1,000,000 or greater up to age 75

There will be no product or premium restrictions

Read more

Key dates for this product sunset are as follows:

February, 3, 2017 - Applications must be received in good order at the Home Office by this date.

March 3, 2017 - Applications for term conversions that do NOT require underwriting must be received in good order at the Home Office by this date. The February 3, 2017 application deadline applies to term conversions that do require underwriting.

April 28, 2017 – Issue deadline

May 26, 2017 – Payment deadline

Read more. Please refer to this web page for more information.

A Vanbridge Company

Carrier and Product Updates Week ending February 3, 2017

MetLife

Effective February 3, 2017, MetLife has sunset the following products:

Promise Whole Life Promise Whole Life 120 Promise Whole Life Select 10 Promise Whole Life Select 20 Promise Whole Life Select 65 Guaranteed Level Term (face amounts less than $1M only) Secure Flex Universal Life Provider Universal Life Legacy Advantage Survivorship Universal Life Equity Advantage Variable Universal Life

Minnesota Life New Term Rates

Effective January 6th, Advantage Elite Select (AES) Term rates have dropped by up to 31 percent, updated their term bands, and are now allowing for up to best class underwriting for Express Issue. Read more

Nationwide New Maximum Illustrated Rates

Effective February 6th, in line with AG 49, the maximum illustrated index rate will increase from 6.48% to 6.50% for all but one of Natiowide’s indexed strategies, and the S&P 500® Annual Point-to-Point Indexed Interest Strategy with Multiplier* will decrease from 6.48% to 6.40%. Read more

YourLife Indexed Protector & Accumulator UL with LTC Rider II

Effective March 13th, the new Long-Term Care Rider will be available on YourLife® Indexed UL, YourLife® Indexed UL Accumulator, & YourLife® Indexed UL Protector for applicable states. Read more

Indexed UL Fixed Rate Change

Effective April 1st, the Fixed Interest Strategy rate for all IUL products will change from 3.50% to 3.25%. Read more

Prudential Rate Changes for Term Essential®

Effective February 27th, Term Essential will be more competitive across more age ranges, and there will be targeted increases to some rates, mostly within the smoker category. Read more

A Vanbridge Company

Carrier and Product Updates Week ending February 3, 2017

Product and Carrier Updates

Symetra SUL-G and UL-G Product Changes

Effective February 8th

Symetra SUL-G

Increased pricing and reduced market position in level pay solves to age 120

Capped the maximum policy face amount at $7.5 million

Reduced target premiums from 120% of level pay solve to 105%

Eliminated the 5 times the target premium limit introduced in November 2016

Symetra UL-G

Discontinued our Premier Pricing Program (No changes made to the non-premier pricing)

Eliminated the 5 times the target premium restriction introduced in November 2016

Please note, there is no death benefit cap or reduction in target premium on the UL-G product

Read more

Voya Financial Voya UL-CV Target Premium Decreasing

Effective February 6th

December 5th - Presents defaulted to new target premiums

December 23rd - Formal applications (including those for backdating) must be received by this date to get old target rates

February 6th - Applications submitted by the 12/23/16 deadline must be issued by this date in order to earn commissions at the current rates

Read more

Annuity Updates Current Fixed Annuity Rates as of 2.1.17

A Vanbridge Company