Effective May 30, 2020, premiums on Platinum Choice VUL 2 will see an increase as the result of recent declines in interest rates and increased market volatility. At AGL, we are committed to providing competitive, attractive guaranteed life insurance products to our clients, and the current environment imposes a need to increase our rates to maintain their viable position.
- Guaranteed premium to increase on average 15% varying by age and payment duration
- Changes to Current Account Premium Expense and COI charges
− Current charges vary by age, gender, risk class, band and duration
- Guaranteed Death Benefit: Built-in guarantee up to your clients’ lifetime
- Guaranteed Cash Value Protection: Built-in minimum cash value that endows at lifetime, regardless of changes in market condition
- Guaranteed Return of Premium: Built-in, no cost option to receive up to 50% of premium end of year 20 or 100% end of year 25
- Guaranteed Chronic Illness Protection via optional chronic illness rider (Accelerated Access Solution®)
- Non-Med Underwriting (Up to $499,999 face amount and age 50)
- New Platinum Choice VUL 2 rates are effective May 30, 2020.
- Applications received on or after May 30, 2020, will receive the new rates.
- Starting 4:00 PM CDT on May 29, 2020, only the new rates will be available in WinFlex.
- To receive the old rates, applications must be received on or before May 29, 2020.
- Reissue requests will not be honored.
AG Quick Ticket
- New GUL rates are effective May 30, 2020.
- Applications submitted via Quick Ticket by May 29, 2020, will receive the old rates if AIG receives the application in good order by June 15, 2020.
- Applications submitted via Quick Ticket by May 29, 2020, will receive the new rates if AIG receives the application in good order after June 15, 2020.
- Applications submitted to AIG via Quick Ticket on or after May 30, 2020, will automatically receive the new rates.
- Reissue Requests will not be honored.