Corebridge Partners Group IUL Product Changes for Revised AG 49-A rules
- April 17, 2023
- Carrier News, Life Insurance, Rate Change, Rates
AIG Life & Retirement is now Corebridge Financial
The National Association of Insurance Commissioners (NAIC) has adopted the Revised Actuarial Guideline 49-A (AG 49-A) which will go into effect for any IUL policy sold on or after May 1, 2023.
As a result, there will be some updates to IUL products.
Here’s a quick view of what’s changing:
• This update only impacts illustrations, not how the life insurance product operates or performs
• Illustrated performance of Volatility Control Index (VCI) accounts will be reduced to similar levels as current S&P 500 index accounts
• Caps and participation rates are not changing
• There are some interest rate changes in the in-force products to reflect the current market environment
NEW! QoL Max Accumulator+ III will now be available in California.
The IUL products provide your clients with valuable features to help move their financial futures forward and help secure a better life ahead.
- April 17, 2023
- Benkis Barrueta
- Carrier News, Life Insurance, Rate Change, Rates
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