November 12, 2020
2020 IUL Product Updates Coming in December
Important Updates to National Life Group’s IUL Products, Rates & Illustrations
Given the current market environment, National Life Group’s IUL products are more relevant now than they have ever been. Despite pressures from regulatory changes and a historically low interest rate environment, our IULs continue to provide protection and peace of mind to countless clients. In order to continue to offer that level of peace of mind, we are making several changes – which include product, rates and illustration updates – over the next few weeks.
Life insurers across the industry are making changes to adapt to new regulatory illustration guidelines, which limit the way bonuses are illustrated on IUL products. The new illustration regulation will require changes to cap rates in addition to how current IUL bonuses and loans can be illustrated.
Updates to our product and illustrations will ensure that you can continue to provide your clients with the peace of mind that a National Life Group IUL policy offers. More information on product and illustration updates going into effect December 12 and can be found here.
National Life Group is taking responsible action in light of the current environment and is lowering certain rates across our indexed universal life insurance products.
Indexed Universal Life non-New York Product Rate Changes
- For all currently sold IUL products and most predecessor products, the benchmark Point-to Point-Cap Focus S&P 500 strategy cap will decrease from 9.75% to 9.00% resulting in a new maximum illustrated rate of 5.69%.
- Credit Suisse Balanced Trend participation rates remain unchanged.
- Products affected: FlexLife, NL FlexLife, FlexLife II, NL FlexLife II, PeakLife, PeakLife NL, LifeCycle Solution, NL LifeCycle Solution, Ultra Select, SecurePlus Advantage 79 and SecurePlus Paragon. For SecurePlus Provider and Ultra EIUL, no changes are being made at this time. The maximum illustrated rate will remain 4.17%.
There are no changes to New York products or fixed strategies. Illustrations systems will be updated with new rates on December 14, 2020 for January 2021 sweeps.
Comprehensive List of IUL Rate Changes
Our value proposition of our leading IUL products is more relevant than ever in current market environments. We will continue to closely monitor markets for opportunities to improve our rates in the future.
