Effective 11/21/2020, the following changes will take effect:
What’s Happening: premium increase on the COB Rider
States in the first round of approvals: ALL EXCEPT CO, DC, HI, ID, LA, MS, NC, OR and RI.
Annuity Care II
What’s Happening: this is the second round of states to adopt the April, 2020 update. The COB Rider will be limited to 36 months in addition to a COB Rider premium increase.
States in the second round of approvals: CO, LA, NC, ND, OH, SC, TX, WA, WV
*Please note Indexed Annuity Care COB Rider durations and pricing is not changing.
Friday Nov. 20, 2020
- eApps must be locked (apps not yet signed but sent for signature) by close of business.
- Signed paper apps must be received in the Home Office by close of business.
- Cash funding must be received in the Home Office by close of business.
- 1035 paperwork must be received in the Home Office by close of business.
o 1035 funding must be completed within 60 days from underwriting approval.
Saturday Nov. 21, 2020
- Sales Connection/iPipeline eApps and quoting updated with new rates.
Friday Dec. 4, 2020
- Signed eApps previously locked and sent for signature must be received in Home Office by close of business.
- November 6, 2020
- Scott Karstens
- Carrier News, Long Term Care
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