Effective on or about December 21, 2020, Global Atlantic will be launching enhancements to the SecureFore product suite. Here are some of the key highlights:
10% (of premium) as a free withdrawal amount in contract year 1
No changes to free withdrawals starting in year 2
Crediting rates may vary based on premium level:
$100,000 and above
New Plan Type: Non-Qualified Stretch
Maximum issue age of 75
Systematic withdrawal program (life expectancy option) required
There will be one new CUSIP for the SecureFore product which will apply to the 3 & 5 year withdrawal charge periods. This CUSIP will apply to new business only and does not impact any in-force contracts.
NAIC Product Specific Training
A revised version of NAIC training will be available on December 21, 2020; financial professionals who have previously completed NAIC training for SecureFore will not be required to retake the training. The NAIC code will remain the same.
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