The following changes to the American Custom 10 will go into effect for all contracts issued on or after February 21, 2017:
- Additional purchase payments will be accepted during the first two contract months.
- The non -MVA version of the product will be available for sale in Alaska. Thenon -MVA version replaces the MVA version that was previously available.
- The new iShares U.S. Real Estate Indexed Strategy will be available with the American Custom 10. See the interest rate chart for more details.
Indexed Annuity Care will be the only product affected. In response to the current interest rate environment, new business interest rates for Indexed Annuity Care® will be decreasing effective Wednesday, Feb. 15, 2017.
The new rates will be as follows:
Indexed Annuity Care
Point-to-point Cap: 2.75%
Point-to-point Par: 20%
Monthly average Cap: 2.75 %
Monthly average Par: 28%
Fixed account: 1.25% (unchanged)
Most Beneficial Rate: Indexed Annuity Care offers your clients the opportunity to receive the best declared interest (or cap, or par) rate available between the date their application is received in the Home Office, and the effective date of the contract, if fully funded within 60 days of application. This feature is intended as an easy-to-do-business provision to provide you and your clients the peace of mind to know that they can receive the best declared rates during the application process.
Note: All products may not be available in all states or may vary by state. Policies are issued by The State Life Insurance Company®, Indianapolis, Indiana.
Underwriting News You Can Use - Foreign Nationals
Are you curious about the potential risks that may be associated with underwriting foreign nationals, and why they may undergo more scrutiny than US citizens?
Please click below to find out more or contact us with any questions at firstname.lastname@example.org.READ MORE
California product approvals coming soon
Required illustration system update effective tomorrow
Reminder: Increased Dividend Payout for 2017
In November, we announced the great news that we are maintaining our dividend scale and increasing dividend payouts in 2017.
The latest version of Century II Illustration Software reflects 2017 dividends on all products.
For details, click here.