We are saying cheers to a new year-and new Select-a-Term rates in New York. As of January 19, 2021, there will be premium rate changes which will consist of a mix of increases and decreases with some cells being left unchanged.

Here’s how strong we are in our target cells ($250,000 and up) in New York:

  • About two-thirds of the premiums rank in the top 3; approaching half are in the top 2, and almost a quarter are ranked #1

We are even more competitive for larger face amounts ($500,000 and up):

  • Around 70% are in the top 3; roughly half in the top 2; and almost a quarter rank number 1

With the new rates, there is a renewed emphasis on the 10-year duration at face amounts $250,000 and above:

  • Over half are in the top 3, and over 35% are in the top 2

Transition Rules

  • Applications received in the Home Office before January 19, 2021, will automatically receive the old product rates unless the new product is specifically requested.
  • Any requests to get the new product must be made prior to policy issue or conditionally issue.
  • Applications received in the Home Office starting January 19, 2021, through February 14, 2021, will manually be given the product with the lowest rates prior to policy issue.
  • Applications received in the Home Office February 15, 2021, and later will automatically be given the new product rates.
  • Reissue requests to new plan will NOT be honored.
  • New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce.

Applications Received via AG Quick Ticket

  • Applications received in the Home Office before January 19, 2021, will automatically receive the old product rates unless the new product is specifically requested.
  • Any requests to get the new product must be made prior to policy issue or conditionally issue.
  • Applications received in the Home Office starting January 19, 2021, through February 14, 2021, will manually be given the product with the lowest rates prior to policy issue.
  • Applications received in the Home Office February 15, 2021, and later will automatically be given the new product rates.
  • Reissue requests to new plan will NOT be honored.
  • New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce.
Corporate Headquarters:
604 Harper Avenue, Jenkintown, PA 19046 | P: 800.543.5555 / 215.517.4080 | F: 800.343.0804 / 215.517.4087

Miami Office:
3470 NW 82nd Avenue, Suite #670, Doral, FL 33122 | P: 800.683.3077 / 305.908.6700 | F: 800.343.0804

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

Premier Brokerage Services is not affiliated with The Leaders Group, Inc.

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