Plus, Why Are So Many Universal Life Insurance Policies Failing?
ASA E-News | January 11, 2019
Carrier News & Updates
Prudential announces that on Monday, January 28, 2019 changes to PruLife Survivorship Index UL and the new Survivorship Benefit Access rider will be introduced, subject to state approvals.
View the full announcement.
Reliance Standard annuity interest rate decreases go into effect January 7, 2019 for fixed products and January 16, 2019 for indexed products.
View the full announcement.
Guggenheim Life and Annuity announced that all of their product rates have changes in January 2019.
View the full announcement.
Allianz announced that effective January 15, 2019, Allianz Asset Pro+ Series Fixed Indexed Universal Life product will be discontinued.
View the full announcement.
Lincoln Financial is cutting fixed annuity interest rates effective on January 1, 2019.
View the updated rate sheets.
New Legislation Introduced in Congress Would Help Seniors and the Life Settlement Industry
A bill introduced in Congress could help spur sales of life insurance in the secondary market by allowing policyholders to use the proceeds from the sale of a life insurance policy to fund an account to be used for paying long-term care expenses on a tax-favored basis.
Less than four years after producing Actuarial Guideline 49, the NAIC is ready to tackle indexed universal life illustrations yet again. An IUL illustration subgroup has a 2019 charge to “provide recommendations for modifications to AG 49.”
Why Are So Many Universal Life Insurance Policies Failing?
Current Assumption UL has been subjected to rather brutal criticism over the last few years, most recently in a September 2018 Wall Street Journal article that blamed the product for financial hardship being experienced late in life by many policy owners who purchased these policies back in the 1980s and 1990s.
Some LTCI Issuers Count More on Future Rate Hikes Than Others
Jan. 11, 2019
If state insurance regulators started rejecting too many long-term care insurance (LTCI) rate increase requests, that could cause serious reserving problems for some U.S. LTCI issuers, according to a new report from S&P Global Ratings.
