On July 25, 2022, we are launching a new version of our flagship protection IUL—Value+ Protector III. It replaces Value+ Protector II with a few exciting upgrades that make our protection IUL more attractive and competitive as your go-to product to help clients look to the future with confidence.

Changes include:

  • More competitive premium
  • Improved target premium
  • New Enhanced Surrender Value Rider (Guaranteed Return of Premium)
    • Automatically included at no additional cost
    • Provides two opportunities (at year 20 and 25) for clients to receive enhanced cash surrender value when fully surrendering the policy
  • New proprietary index option: Franklin Quality Dividend Index (FQD) – Not available in New York
    • Uses a rules-based approach to dynamically combine high dividend-paying stocks and stocks with strong price stability and cash
    • Helps capture the upside potential of stocks while delivering a more consistent return profile in changing markets
    • 100% participation rate with high account value enhancement (AVE) rate of 0.85%
    • Replaces the S&P 500 Participation Account
    • Compliments existing offerings of attractive index account options (MLSB, PIMCO, S&P 500)
  • Updated rate increases and adjustments

Transition rules
Paper & Ticket

  • New product is effective July 25, 2022.
  • Applications received in the Home Office July 25, 2022 and later will automatically be given the new product.
  • Reissue requests to new plan will NOT be honored.
  • New applications submitted to replace existing inforce coverage with the new product will not be honored within 90 days of the existing coverage going inforce.

iGo Full e-Application

  • New Case: Only the new Value+ Protector III will be available for agents in iGo Full eApp after July 23, 2022, 12:00 AM CDT.
  • Locked Case: For locked cases, agent will be permitted to complete the eSignature and eSubmit process.
    • Cases locked before July 23, 2022, 12:00 AM CDT must be submitted within 15 business days.
  •  Unlocked Cases on or after July 23, 2022, 12:00 AM CDT must apply for the new Value+ Protector III; If needed, see PDF Retrieval Information that follows.

PDF retrieval for older cases:

  • For old Value+ Protector II cases started before July 23, 2022, or unlocked after July 22, 2022, the following message will display:
    “Please begin a new case in WinFlex and eApply to iGo eApp. You may retrieve any application data previously entered into the Old case by launching the PDF from the My Cases screen.”


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