We are saying cheers to a new year-and new Select-a-Term rates. 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):

  • Over 70% of the premiums rank in the top 3, and nearly half rank in the top 2

We are especially strong for larger face amounts ($500,000 and up):

  • Among these cells, over half of the premiums, 53%, rank number 1; 70% are in the top 2; and 84% are in the top 3

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

  • Nearly one-third are in the top 2, and approaching half are in the top 3

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.