Category: Carrier Updates

October 9, 2017 1. Symetra is Rolling Out Their First IUL Product! PLUS Enhancements to CI Riders.

Official Launch Flyer Symetra is rolling out their first IUL product, the Accumulator, which is targeted for exceptional accumulation and distributions. Highlights: Top tier distributions, strong embedded guarantees, transparency and market-leading, rolling targets. The Accumulator IUL has been designed to focus on accumulation and distributions. 12% Cap (3.5% guaranteed min), 3 Index Options; S&P 500- 1yr point-to-point, JP Morgan Efficiente 5 Index- 1yr point-to-point (volatility controlled) and 50/50 blend of the S&P 500 index and JP Morgan Efficient 5 Index- 2yr point-to-point. Guaranteed persistency bonus beginning year 11+, 15% performance multiplier. Beginning of segment value performance crediting. Look back guarantee, 2% per year cumulative index return every 8 years. Very low bench marked policy costs over 20 years. 2 Policy Loan Options; Participating 6% max rate, Standard 4%/ 4.25% 1st 10yrs, then 4%/4% with the ability to switch between options on the anniversary without repaying the loan. Premium Financing: ECV- enhanced cash value rider, premium deposit account, DB Option C- Return of Premium. Riders: Both of Symetra’s Chronic Illness riders, Overloan Protection rider and Charitable Giving rider October 9th availability approved in all states except CA and NY Enhancement to both Chronic Illness Riders: Symetra is in the filing process to remove the permanency requirement to receive the benefits on both riders. Once this change receives state approvals, it will apply to all in-force UL-G contracts and new policies....

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October 9, 2017 Symetra Accumulator IUL Launch

Symetra is introducing an IUL product with focused index options specifically designed to help meet your clients’ needs while keeping underlying policy charges transparent and easy to understand. Accumulator IUL highlights include: Strong cash value accumulation potential and policy distributions. Three Indexed Options • S&P 500® Index • JPMorgan ETF Efficiente® 5 Index—a volatility control option licensed exclusively to Symetra. • Blended S&P 500® and JPMorgan ETF Efficiente® 5 Index—2 year 50% blended option that combines S&P 500® Index performance with the volatility control of JPMorgan ETF Efficiente® 5 over a longer period. Index credit based on the index segment value at the beginning of the index segment term, net of any withdrawals or standard loans taken during the term. Guaranteed persistency bonus multiplier beginning in policy year 11. A cumulative lookback guarantee that may increase policy values every 8 years. Ability to switch between standard or participating loans on the policy anniversary without repaying the loan. Guaranteed minimum cap on the S&P 500® Index. PRODUCT...

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October 2, 2017 Principal replaces the original IUL Flex with a new version

IUL Flex II   On Monday, October 2nd, 2017, Principal replaced the original IUL Flex with a new version that uses the 2017 CSO and is now noted as IUL Flex II. In contrast to most recent indexed UL releases, the IUL Flex II markets a platform of simplicity, containing no flashy interest bonuses or multipliers and a low charge structure, targeting performance at more conservative illustrated rates. However, it enters the market without much of a splash, hitting the occasional competitive outlier when assuming 6% illustrative rate. Previously, IUL Flex was a serious contender in the indexed UL death-benefit protection market when illustrating at the maximum rate. With the new product seeing a cap of 10% versus the previous 12%, premiums for the Max IR experienced increases of 10% or greater in most cases. The focus for IUL Flex II lies with the lower illustrated rates, where premiums improved almost everywhere. This allows IUL Flex II to find a few competitive spots when illustrating at 6% for ages 35-55; in most other instances, it fails to land within the first quartile from a ranking standpoint. As with other protection-oriented products, Principal offers an Extended No-Lapse Guarantee Rider, which increases the base lapse-protection from 10 years to the lesser of age 90 or 25 years. Election of this rider will affect accumulation potential, which may in turn lead to significant...

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