North American – Smart Builder IUL 2; 7702 Policy Impacts
- November 18, 2021
- Carrier News, Life Insurance, North American
Introducing Smart Builder IUL 2
North American is pleased to announce a new Indexed Universal Life (IUL) insurance product available on November 22, 2021. Smart Builder 2 is designed for death benefit protection and the potential for strong early cash surrender values through a 0% premium load and optional Waiver of Surrender Charge (WOSC) Option Rider.
Click here for additional information
Changes to Smart Builder IUL policies impacted by updates to Section 7702
Earlier this year, North American shared a field bulletin and FAQ surrounding Section 7702 after the passing of the Consolidation Appropriations Act, which included a change to the rates used in determining whether a policy qualifies as life insurance. These rates are also used to evaluate whether the policy qualifies for the preferential tax treatment of distributions from the policy. As a result of changes to Section 7702, life insurers, including North American, are updating rates on impacted products issued on or after January 1, 2021.
Click here for additional information
- November 18, 2021
- Benkis Barrueta
- Carrier News, Life Insurance, North American
Looking for Something?
NFG Brokerage
We are a National Brokerage General Agency helping our Distribution Partners  achieve great results.
Request a free quote
Our Team is ready to help. Â Click the button below and be sure to include the details of your quote...we will be back with you As Soon As Possible.
More from our blog
See all posts
