Actuarial Guideline 49 (AG49) is a new regulation mandated by the NAIC which sets a common methodology for how insurance carriers can calculate their maximum illustrated interest rate for IUL policies. This new guideline will only impact how IUL policies are illustrated, not how they actually function. Starting September 1, 2015 all carriers will be required to abide by AG49, and maximum illustrated rates will decrease from .5% -2% depending on the carrier's cap and floor rates.
Contact
Nick Weiler for more details or click to see specific carrier notice:
Allianz
continues to provide exceptional Indexed annuities that create Lifetime Income guarantees. They were recently upgraded to A+ by A.M. Best. Click
here
for more information.
Contact
Cathy Barner to talk about their products and how they might fit into your client's portfolio.
Athene is currently in the process of transitioning a large number of policies over to
Accordia. During the transition some scheduled drafts have been delayed, and there could be limited access to inforce information. Please
contact Blaine Williams with any questions.
Banner re-priced their OPTerm rates effective August 10. All blocks were decreases. They are currently in the top three carriers 56% of the time.
John Hancock's Protection IUL is now available with their LTC rider and the Vitality program (in approved states). Click
here for more details.
Principal added a new sales concept to utilize permanent insurance to overcome clients who make too much as a ROTH IRA alternative.
Click here.
Protective has developed a suite of materials focused on helping your clients understand Social Security and how it fits into their plan. Click
here for promotional and seminar materials as well as access to their Social Security Explorer.
Symetra announced last week that it is being acquired by Sumitomo Life of Japan. This should not affect any operations or products, and have confirmed that they are back to business as usual. Click
here for the details.
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