Lincoln MoneyGuard CSO & PBR Updates

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MoneyGuard III now in effect as of Monday, September 16th, here an update of the transition into the new product as the deadlines are fast approaching.  As a revised mandatory deadline has just been announced from Lincoln this past Monday, below are the important deadlines that we need to be mindful of:

  • November 1st 2019:  Deadline for all MoneyGuard II 2019 applications
  • October 1st, 2019:  Mandatory Deadline for 1035 exchanges

o   MoneyGuard team now following up on all 1035 cases on a weekly basis

  • December 31st 2019: All MoneyGuard II 2019 applications must be placed for delivery & in-force with premium. No exceptions.

For California ONLY: as MoneyGuard III has not yet been approved in this state, new rates are being implemented based on PBR (Principal Based Reserve requirement) and the current CSO Mortality Tables).  Please be advised of these key dates:

  • November 11th, 2019:  MoneyGuard II CA rates will sunset; so last day for application submission is November 11th, 2019.
  • October 1st, 2019:  Mandatory Deadline for 1035 exchanges
  • December 31st 2019: All MoneyGuard II 2019 applications must be placed for delivery & in-force with premium. No exceptions.
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