** This is a reminder notification — there is no action required on your part ** To All Brokerage General Agents in New York Following the NAIC Guidelines, Companion Life Insurance Company is required to provide all of its New York producers with information about the expense allocation method used by the company in its illustrations for the state of New York. Please see the paragraph in bold below. Pursuant to the life insurance Illustration Reform legislation adopted in NY, this communication is a reminder to you that Companion Life Insurance Company uses a Generally Recognized Expense Table (“GRET”) to
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Expense Allocation Method in United of Omaha Illustrations
** This is a reminder notification — there is no action required on your part ** Following the NAIC Guidelines, United of Omaha Life Insurance Company is required to provide all of its producers with information about the expense allocation method used by the company in its illustrations. Please look below to see if this information pertains to your state and then, read the paragraph in bold below accordingly. This communication pertains to Illustration Reform states only, which include: AK, AL, CA, CO, CT, DE, HI, IA, IL, IN, KS, KY, LA, MA, MD, ME, MN, MO, MS, MT, NC,
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Help Clients Understand Their IUL Express Allocation Options
The accumulation value within an Indexed Universal Life Express (IUL Express) policy earns interest at a rate that is calculated based on the performance of a market index. If you use the IUL Express Easy Solve, the 100% participation rate crediting strategy will be selected, but your clients also have additional crediting strategy options. Your clients can choose from three crediting strategies, all based on the performance of the S&P 500, as well as a fixed account. This allows them to tailor their policy based on how they believe the index will perform. Clients can choose to allocate all of
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IUL Participation Rate and Cap Rate Changes
Effective November 10, 2019, we will be making changes to our participation rates and cap rates on our Income Advantage IUL and Life Protection Advantage IUL products. The slight decreases to the rates come as a result of the current rate environment and the increased market volatility, which causes an increase in options costs. These rate changes will apply to newly issued policies, as well as to any in force policies with a segment that is created (with new premium dollars) or renews on November 10th. With the sweep feature, all money received in the home office on or before
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