In case you missed it on March 1, 2023, we increased the maximum issue ages on IUL Express and Term Life Express Non-ROP (10T) products. These enhancements will position our Simplified Issue product options to be available in more sales scenarios and will serve a wider range of clients.
Below are some of the key updates you will need to know:
IUL Express:
- Maximum issue ages for both Tobacco and Non-Tobacco ratings will increase to age 75
- Currently Non-Tobacco is age 70 and Tobacco is age 65
- Maximum face amount for ages 71-75 will remain $150,000
Term Life Express Non-ROP (10T):
- Maximum issue age for both Tobacco and Non-Tobacco will increase to age 75
- Maximum face amount for ages 71-75 will remain $150,000
Transition Rules:
- Applications must be signed, and submitted with a March 1, 2023 date or after, to be eligible to apply with these increased ages.
Remember, all materials are available to view/download through SPA or can be ordered through your normal channels.
Learn more about our entire portfolio of Simplified Issue products at mutualofomaha.com/simple.
You’re in Luck: Issue Ages Increased on IULE and TLE
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