New Premium Class Changes for IUL and UL Products

Under the new Premium Class Change Rules, premium class changes are allowed in the following situations:

• to move from a preferred or standard smoker to a standard nonsmoker, or
• if the move allows a drop in an inherent substandard rating, for example: a move from Express Smoker/Nonsmoker to Standard Smoker/Nonsmoker.

In addition, changes from Nonsmoker to Preferred Nonsmoker or Select Nonsmoker to Preferred Nonsmoker will be allowed.

New Premium Class Changes for IUL and UL Products

[bs_row class=”row”]
[bs_col class=”col-sm-6″]Rate Class At Issue[/bs_col]
[bs_col class=”col-sm-6″]After Issue Rate Class Improvement[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Select Nonsmoker[/bs_col]
[bs_col class=”col-sm-6″]Preferred Nonsmoker[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Nonsmoker[/bs_col]
[bs_col class=”col-sm-6″]Preferred Nonsmoker[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Preferred Smoker[/bs_col]
[bs_col class=”col-sm-6″]Nonsmoker[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Smoker[/bs_col]
[bs_col class=”col-sm-6″]Nonsmoker*[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Express Standard Nonsmoker 1[/bs_col]
[bs_col class=”col-sm-6″]Nonsmoker[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Express Standard Nonsmoker 2[/bs_col]
[bs_col class=”col-sm-6″]Nonsmoker[/bs_col]
[/bs_row] [bs_row class=”row”]
[bs_col class=”col-sm-6″]Express Smoker[/bs_col]
[bs_col class=”col-sm-6″]Smoker^[/bs_col]
[/bs_row]

*Potential to improve to preferred Nonsmoker with a second rate class improvement at the two month anniversary.

^Potential to improve to Nonsmoker with a second rate class improvement at the two month anniversary.

Depending on your clients’ situation, re-writes and internal exchanges may also be options.

How to apply for a premium class change

If you have a client who wishes to apply for a premium class change, please contact Contractchange@nationallife.com.