Advisors Blog

Below is the full text of the recent North American memo with transition rules and deadlines. 

We wanted to make you aware of updates that we're making to our competitive and robust Indexed Universal Life (IUL) product line: Builder IUL^®, Guarantee Builder IUL^® and Rapid Builder IUL^®, as well as our Custom Guarantee^® Universal Life product.

New Features

• We're excited to share that these new products will have new index selections, along with other revisions to the current selections. Read the field bulletin for all the details.
• Another exciting change for these products: The first annual statement will now show index credits based on the first month's premium. We're hopeful that this will help alleviate policyholder questions about not seeing credits on their first annual statements.

Commission Changes

Besides the highlight of new features, we wanted to make you aware of the commission changes on these products. The street level compensation will decrease by 5%. Updated commission schedules are currently available on our website at www.NorthAmericanCompany.com.

Changes to Custom Guarantee^® Universal Life

We also wanted to note that on January 30, 2017, we will be offering a new version of Custom Guarantee UL. In continuing our focus on making decisions for the long-term and fulfilling our commitments to our policyholders and distribution partners, we will be making guaranteed premium rate changes to North American's highly competitive Custom Guarantee UL product. The new version of Custom Guarantee UL will reflect higher premiums to guarantee the death benefit to maturity. The magnitude of the change will depend on a number of factors including the issue age, underwriting class, face amount, and funding pattern.

For more information on the upcoming changes to Custom Guarantee UL, you can read the full field bulletin here.

IUL Product Updates Field Communication

If you'd like to send a communication via your own channels to your field force, you can utilize the full field memo linked below.

Get the full field bulletin here.

Learn More In Our Web Training

If you or your producers are looking to learn more about these updates and the excellent IUL portfolio and sales concepts that we offer, we're pleased to offer web training on February 1st. Register now to ensure you get all of the details on these product updates