As of September 12, 2020, a new design of Select-a-Term will be launching in New York. Premiums will also be changing with a mix of increases and decreases, and some cells left unchanged.

In addition to new rates, the new product design includes these updates:

  • Discontinuation of the Term conversion credit
  • New Annual Renewable Term (ART) rates and changes to the ART design
    • Death Benefit will have a onetime reduction at the end of the level period
    • The first three premiums during the ART period will remain level with annual increases thereafter

Select-a-Term offers a unique mix of flexibility and reach:

  • Guaranteed level term coverage for 18 durations, including 10-year and15 through 30 years and a 35-year term
  • Select-a-Term remains convertible to the earlier of age 70 or the end of the level term period
  • Extended conversion eligibility to the full suite of competitive US Life permanent products for the first 8 years of 10 year term durations, or
    the first 10 years for term durations of 15 years and greater

Transition Rules for General Distribution

  • Revised product and premium rates are available September 12, 2020.
  • Applications received in the Home Office before September 12, 2020 will automatically get the old product rates unless the new product is
    specifically requested.
  • Any requests for pending applications received prior to September 12, 2020, to get the new product, must be made prior to policy issue or conditional issue
  • Applications received in the Home office September 12, 2020 and later will get the revised product rates.
  • Reissue requests to the new plan will NOT be honored.
  • New applications submitted to replace existing inforce coverage with the revised product will not be honored within 90 days of coverage going inforce.

AG Quick Ticket

  • Revised product and premium rates are available September 12, 2020.
  • Applications received in the Home Office before September 12, 2020 will automatically get the old product/rates unless the new product is specifically requested.
  • Any requests for pending applications received prior to September 12, 2020, to get the new product, must be made prior to policy issue or conditional issue
  • Applications received in the Home office September 12, 2020 and later will get the revised product/rates.
  • Reissue requests to the new plan will NOT be honored.
  • New applications submitted to replace existing inforce coverage with the revised product will not be honored within 90 days of 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.

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