Carrier and Product Updates- May
Posted on May 13, 2011 in Product & Carrier Intelligence
Effective April 18th OPTerm and Penn Term Rate Reduction – The rate changes affect male rates in the 15, 20, and 30-year term plans. There are no rate increases. Click for More Information
Effective May 2, 2011, SUL Protector will be Re-priced – On Average, full-pay lifetime premiums were reduced by 12%. Click for More Information
Effective April 4th the Legacy Survivorship UL Product will be Re-Priced – The premium rates for this product will increase by approximately 5% and Death Benefit Option B will no longer be available with the Joint Coverage Continuation Rider. Transition Dates
Effective April 1st Term Life Answers Rates Were Reduced – This product offers the advantage of age last birthday and well as the option to convert. Click for More Information
Effective June 1st Nationwide will Re-Price the YourLife No-Lapse Guarantee UL – The new pricing structure will moderately increase the policy premium for all ages, rate classes and specified amounts. The product will still remain competitive for clients age 50-70, making lifetime, level premium payments for policies with a Nontobacco rating and $1 million specified amount. Click for More Information
Effective May 23rd the Protector UL Product Will be Re-Priced – This re-price will increase their pricing by 2% to 5% and the transition period is 30 days from the effective date.
If you have any additional questions please feel free to contact: Shauna Winer at 800-422-7536 ext. 3115