Effective February 4, 2020, new rates for OPTerm 10, 15, 20, 25 and 30 include a mix of decreases and increases.No changes to our longer-term duration options, OPTerm 35 and 40.

Reminder: Rate structure change in N.Y. William Penn OPTerm rates are now set on a separate rate structure than Banner OPTerm rates. Pricing in New York remains highly competitive.

Transition Rules

Traditional Paper Applications

  • New applications received in the home office by March 5, 2020, and applications currently pending will be issued with the most favorable premium for the insured.
  • Applications received March 6, 2020, and later will be issued with the new rates.


  • Formal applications received by March 5, 2020, will be issued with the most favorable premium for the insured.
  • In order for the policy to be eligible for prior rates, the drop ticket should be submitted with enough time for the interview to be completed and the application submitted by March 5, 2020.
  • New rates will apply to all completed interviews and subsequent formal applications received March 6, 2020, and later.

Reissue Requests

  • Recently issued policies can be considered for reissue, with the new rates, provided the free look period has not expired.
  • Please send reissue requests to your General Agent.

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

GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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