1. Pruco Life – new term to 65 product
February 24th – Pruco has introduced a new product called
WorkLife 65. The policy is a level term to age 65 which is
available to issue ages down to 25. The policy includes a
waiver of premium for disability and a waiver of premium for
unemployment. These waivers are INCLUDED in the
premium and we had to do some re-engineering to handle the
fact that when you ask for waiver of premium, the product
shows up with a waiver of premium of 0.00 indicating it is
included in the basic premiums.
2. American General Life – new UL product
February 14th – American General has released a new
no lapse UL product called Secure Lifetime GUL. The
company has given us rates for “to age 90”, “to age 95“,
“to age 100” and “to age 121“.
The new products are replacing ContinUL except in those
states that have not approved the new product. The states
still quoting the old plan are MD, NJ, NY and PA.
3. Pruco Life (A Prudential Company)- state approvals
February 14th – Pruco’s new UL rates are now approved
in all states except CA, MA, NJ and NY.
4. Pacific Life – minimum face amount change
February 8th – Pacific Life has lowered its minimum
face amount from $500,000 to $250,000.
*All updates above have been provided by Compulife.*Written by Chris Huntley. Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.