Due to the continued low-interest-rate environment, Growth Cap and Maximum Illustrative rates for Index UL policies are changing.
I. New Business/Pending Cases
These changes will be effective for new index segments starting March 15, 2022. There is no change to participation rates, floors, or asset fees. WinFlex will be updated with the new rates on March 15, 2022. The new Growth Cap and Maximum Illustrative rates are shown below.
Cases that are issued and paid with all delivery requirements satisfied and in good order on or before 5 p.m. Central Time on March 14, 2022, will not require a new illustration reflective of the changes.
Cases that are NOT issued and paid with all delivery requirements satisfied and in good order on or before 5 p.m. Central Time on March 14, 2022 will require a new illustration reflective of these changes.
II. Inforce Policies
Notice of rate changes are sent to owners of in-force affected policies by regular mail prior to the effective date of the change. The servicing brokers will be provided advanced notice of the changes related to their in-force policyholders via mail and will be copied on the policy owner correspondence. Click here for a summary of changes including closed index accounts.
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