Carrier and Product Updates- December
Posted on December 14, 2011 in Product & Carrier Intelligence
Below you will find the latest updates to carriers and their products. Please review the changes as they may affect your clients and their existing policies.
PERMANENT COVERAGE UPDATES
MetLife 2012 Dividend Scale Announcement
Effective November 7th – Nationwide Introduced the YourLife Indexed UL –
- Offers the traditional benefits of a universal life product with cash accumulation
- Accumulated value can be allocated to a fixed interest strategy or an indexed interest strategy
- The interest credited to the indexed account is based on the performance of reference market indexes, a participation rate, a cap and a floor rate
- Targeting clients age 35 to 55
Effective January 16th, 2012 – AXA Changes to Crediting Rates and Cap Rates for Fixed Life Products –
- Any money allocated to the segments beginning December 15th and earlier will receive the current cap rates
- Money received after December 15th will be allocated to segments on or after January 16th and will thus receive the new caps
TERM COVERAGE UPDATES
Effective December 1st – United of Omaha Re-priced Term Life Answers –
- Competitive Nontobacco rates for ages 40-60
- New Preferred Tobacco class
- Age last birthday advantage with backdating up to 6 months
Effective December 12th – Protective Re-Priced the Secure-T –
- New Secure-T rates have decreased by as much as 20% in some risk classes, specifically in the Select Preferred and Preferred categories
Please let me know if you have any questions regarding the Carrier and Product Updates. If you would like to request illustrations for your clients, please let me know. You can also find the carrier updates on our website under Product & Carrier Intelligence.
Shauna Winer
CBIZ Special Risk
800-422-7536 ext: 3115