Effective Friday, March 13, 2020, American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (US Life), will be implementing premium cap changes on specific universal life products.

AGL and US Life are dedicated to providing guaranteed life insurance options and are committed to providing competitive products that are sustainable, but recent equity and bond markets have seen significant movements. The U.S. 10 Year Treasury rate was 1.92% at the end of 2019 and has since fallen close to 1.00% as of March 3rd, 2020. As a result of dramatic interest rate change and increased market volatility, AGL and US Life will be implementing premium cap changes on the following products:

Secure Lifetime GUL 3*: $500,000 premium cap
Platinum Choice VUL 2*: $1,000,000 premium cap

Above premium caps apply to premiums in any policy year, which also include any lump sums or 1035 exchange amounts.

Important Details

  • Winflex Web Illustration systems will be updated with new premium limit on April 3, 2020.
  • Any case submitted on or after the effective date (03/15/2020) with premium greater than or equal to the amounts listed above will not be considered. We will notify you of any changes when economic conditions improve.


*Secure Lifetime GUL 3 is offered by AGL and US Life, Platinum Choice VUL 2 is offered by AGL only and is not available in the State of New York

Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080.

GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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