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Mutual of Omaha: Rate Adjustments for LTCi
Mutual of Omaha will be implementing the following inforce rate adjustments effective November 1, 2022:
Impacted Policy Forms
LTC04G
LTC04I
LTC04I7
LTC09M
LTC06UI
LTC09U
LT50, NH50, HCA, NHA, LTA
For details on yearly rate adjustment percentages, view the supplemental grid here.
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Lincoln Financial: Indexed Account Rate Changes
Effective September 15, 2022, Lincoln will be making changes to caps, participation rates, and spreads on certain indexed account segments for a select group of previously sold life insurance products. The illustration software will be updated August 15, 2022, reflecting all indexed account changes. There are no changes to currently sold products.
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Pacific Life PL Promise Term Reprice
PacLife is adjusting rates for PL Promise Term1 level premium term life insurance—a product specifically designed to serve the death benefit protection needs of the broad market consumer (household incomes of $50k to $250K).
The new term rates go into effect beginning August 22, 2022, for all states except New York. Cases that are issued (for delivery) through October 20, 2022 automatically receive the better of the old, and new, PL Promise Term rates. No request is necessary. Cases that are issued after October 20, 2022 receive the new PL Promise Term rates.
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Symetra Accumulator Ascent IUL Increase Index Cap
Effective September 14, 2022, Symetra is increasing index cap and participation rates on the Accumulator Ascent IUL. The increase will apply to all new business, including new premium, transfers (including DCS) and reallocation of matured segments.
Accumulator Ascent IUL's max illustrated rates are also increasing from 6% to 6.24% for all index strategy options.
Important Dates:
August 26, 2022: Symetra Life Illustrator and all other illustration systems will be updated to reflect the new index cap, participation and max illustration rates.
September 14, 2022: Segments created on this date or later will receive the new rates.
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We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966.
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For agent use only - not for use with the general public.
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Corporate License No. 0D87913
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21820 Burbank Blvd., Suite 301
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GBS Insurance and Financial Services, Inc. do not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
© 2021 Arthur J. Gallagher & Co.
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