North American Increased Cap and Participation Rates

North America’s enduring strength and stability allow us to continually evaluate new opportunities to deliver more value to our distribution partners and customers. As a result, we are excited to announce that we will be raising a cap and participation rate for certain index options on new business and inforce policies for Builder Plus IUL.

Cap and Participation Rates

Effective for index periods that start on/after October 21, 2023.
PtP = Annual Point to Point, PtP w/Spread = Point to Point with Spread, Monthly PtP = Monthly Point to Point.

• Other current and formerly marketed IUL products are not impacted by this rate change.

• Other indexes currently available for Builder Plus IUL 3 are not impacted by this rate change.

How does this change impact illustrated rates?

• All policies sold* on or after May 1, 2023 will utilize AG49-B compliant illustrated rates.
• Policies sold before May 1, 2023 will utilize AG49-A compliant illustrated rates on inforce illustrations.

What rate will your client receive?
Use the guidelines below to determine what rate your client will receive.
For policies already inforce

• Monies already in the index accounts in which the new crediting period starts ON OR AFTER October 21, 2023 will automatically receive the new rates for the new crediting period.
• Monies placed into the index accounts with an effective date ON OR AFTER October 21, 2023 will also receive the new rates.
• All monies placed into the index accounts with an effective date ON OR BEFORE October 20, 2023 will receive the old rates for the first crediting period.

For applications in that are not yet placed inforce

• To receive the new rate, the policy anniversary date must be October 21, 2023 or after, and the case
  must be placed inforce on October 23, 2023 or later.
• From October 12, 2023 to October 20, 2023, if you have pending business that is ready to be placed in force but you would like it held to receive the new rates, contact your dedicated New Business or Policy Change team for assistance.