Effective July 1, 2014, SBLI will offer new competitive term rates. The new rates are particularly strong for face amounts of $500,000 and up. The number of premium bands have been increased from three to four: Band 1-$100,000 to $249,999; Band 2-$250,000 to $499,999; Band 3-$500,000 to $999,999; Band 4-$1,000,000 +.
Archive for month: June, 2014
Effective July 1. 2014, Legal & General will implement a significant premium increase on their Life Step UL product. Life Step UL is their UL policy for term conversions. Premiums for males will increase from about 30% to 50% depending on underwriting class. Premiums for females will increase just over 20% across all underwriting classes. […]
Effective June 5, 2014, ING has removed its premium restriction on its guaranteed Indexed UL product which had limited any annual premium to 5 x the premium target. This lifting of the 5 x restriction will make Section 1035 exchanges and short pay premium scenarios available again.
Effective July 21, 2014, Genworth will be launching its Privileged Choice Flex 3 long term care product. The maximum daily benefit amount changes from $400 to $300; the maximum monthly benefit changes from $12,000 to $9,000; a 2% compound inflation protection option is added; all home care services require an Agency service provider; and refund […]
Japan’s Dai-ichi Life Insurance Co has agreed to buy U.S. peer Protective Life for $5.7 billion. Read the press release here.